$629,000 GREY
Description
Rating 28 /100
| Equity | 12.3/40 | -24,879 vs limit (-3.2% of ARV) | |
| Cash flow | 2.3/30 | -692/mo | |
| Suite-arb | 10.5/15 | zone permits a suite; other conditions short | |
| Motivation | 3.0/15 | 136d on market, no cuts — anchored seller |
Offer case
Price can't fix this. rent test — needs 3,093/mo vs 3,000 estimated. Price cannot fix this; only higher rent (a suite) or a lower ARV would.
EVIDENCE
- Coast-wide, homes sell at 97.6% of list — a 2.4% discount is simply normal here.
- 136 days on market vs a 65-day median — but ZERO price cuts, so this reads as an anchored seller, not a motivated one.
- Already asking below the $481/sqft local sold level — little room to push.
The four tests
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $3,000 typical self-managed |
$3,000 typical PM |
$3,450 high self-managed |
$3,450 high PM |
|---|---|---|---|---|
| $629,000 | −$422 | −$692 | −$22 | −$332 |
| $597,550 −5.0% | −$296 | −$566 | +$104 | −$206 |
| $575,535 −8.5% | −$208 | −$478 | +$192 | −$118 |
Comps & ARV
ARV $773,178
range $641,358 – $862,911
(about half of comparable sales landed inside this band)
median $/sqft of 12 renovated size-matched sales (12 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence medium
($/sqft used: 548)
Cross-check: comps say $829,672, BC Assessment × sale ratio says $641,358 (+29% apart — disagreement this large triples comp error historically)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5750 Spindrift St | 0.19 km | 1,176 | ~$556,548 | 473 | 2026-05-10 | ✓ |
| 6242 Norwest Bay Rd | 2.13 km | 1,707 | ~$671,275 | 393 | 2025-10-19 | ✓ |
| 5641 Nickerson Rd | 2.39 km | 1,487 | ~$805,530 | 542 | 2026-03-06 | ✓ |
| 6307 Homestead Ave | 2.44 km | 1,403 | ~$776,238 | 553 | 2026-01-24 | ✓ |
| 5726 Emily Way | 2.47 km | 1,360 | ~$729,371 | 536 | 2026-03-16 | ✓ |
| 5592 Curtis Pl | 2.81 km | 1,358 | ~$974,447 | 718 | 2025-11-14 | ✓ |
| 5640 Carmel Pl | 7.85 km | 1,466 | ~$848,492 | 579 | 2025-09-26 | ✓ |
| 7955 Connor Rd | 8.64 km | 1,746 | ~$828,964 | 475 | 2025-09-16 | ✓ |
| ~ = final list price × measured sale ratio (BC title registration lags ~3 years, so recent solds have no registered price; the proxy is within ~2% of the registered price when both exist) | ||||||
Price & sale history
Seller basis: $449,900, 2018-03-19 — asking +39.8%
| 2026-08-15 | delisted | absent from search results |
| 2026-08-03 | new | 629000 first seen at $629,000 |
| 2026-06-25 | Price Changed | $629,000 GVR |
| 2026-05-12 | Price Changed | $669,000 GVR |
| 2026-05-01 | Price Changed | $699,000 GVR |
| 2026-04-01 | Listed | $719,000 GVR |
| 2018-03-19 | Sold (Public Records) | $449,900 Public Records |
| 2018-01-15 | Listed | $449,900 GVR |
Zoning & land
R-4 — Urban Infill Residential suite OK
Sechelt R-4 Urban Infill, one of the post-Bill-44 SSMUH zones. Secondary Suite is a named accessory use, and density is capped by combination rather than lot size: a single-detached dwelling with a secondary suite PLUS two detached accessory dwelling units, or a triplex plus one detached ADU, or a fourplex, or four townhouses, or a four-unit cottage court. FAR 1.5. A detached ADU is capped at 120 m2; a secondary suite has NO floor area cap (s.2.3.1). Confirm servicing capacity. [Bylaw 580 s.1.4.2-1.4.4, s.2.3]
| PID | 008-013-845 |
|---|---|
| Parcel | 5707 MEDUSA ST (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $642,000 |
|---|---|
| Land / improvements | $490,000 / $152,000 (76% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.02 asking under assessment |
| BCA folio | 570.00179.066 |
Open questions
- Built 1960 — oil-tank era. Ask for a tank scan or decommissioning certificate.
- 135 days on market — ask the listing agent why it hasn't moved.