$765,000 GREY
Description
Rating 8 /100
| Equity | 0/40 | -206,078 vs limit (-28.5% of ARV) | |
| Cash flow | 0/30 | -1,454/mo | |
| Suite-arb | 4.7/15 | zone permits a suite; other conditions short | |
| Motivation | 3.0/15 | 172d on market, no cuts — anchored seller |
Offer case
Price can't fix this. rent test — needs 2,893/mo vs 2,583 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.
- 172 days on market vs a 60-day median — but ZERO price cuts, so this reads as an anchored seller, not a motivated one.
- Asking $638/sqft where comparable homes sold at $548/sqft (+16%) — the ask is above the local clearing price.
The four tests
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $2,583 typical self-managed |
$2,583 typical PM |
$2,870 high self-managed |
$2,870 high PM |
|---|---|---|---|---|
| $765,000 | −$1,221 | −$1,454 | −$966 | −$1,224 |
| $726,750 −5.0% | −$1,068 | −$1,300 | −$813 | −$1,071 |
| $699,975 −8.5% | −$961 | −$1,193 | −$705 | −$964 |
Comps & ARV
ARV $723,202
range $655,000 – $894,430
(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: 589)
Cross-check: comps say $706,800, BC Assessment × sale ratio says $761,474 (-7% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 776 Geddes Rd | 5.68 km | 1,460 | ~$877,784 | 601 | 2026-02-19 | ✓ |
| 4657 Whitaker Rd | 15.48 km | 1,104 | ~$781,022 | 707 | 2025-10-08 | ✓ |
| 5750 Spindrift St | 19.35 km | 1,176 | ~$556,548 | 473 | 2026-05-10 | ✓ |
| 5808 Anchor Rd | 19.84 km | 1,056 | ~$780,144 | 739 | 2026-02-20 | ✓ |
| 5641 Nickerson Rd | 21.36 km | 1,487 | ~$805,530 | 542 | 2026-03-06 | ✓ |
| 6307 Homestead Ave | 21.41 km | 1,403 | ~$776,238 | 553 | 2026-01-24 | ✓ |
| 6270 Homestead Ave | 21.42 km | 1,284 | ~$756,710 | 589 | 2026-01-21 | ✓ |
| 5636 Cascade Cres | 21.49 km | 1,284 | ~$721,364 | 562 | 2026-07-18 | ✓ |
| ~ = 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: $172,000, 2004-01-28 — asking +344.8%
| 2026-08-03 | new | 765000 first seen at $765,000 |
| 2026-06-10 | Price Changed | $765,000 GVR |
| 2026-05-06 | Price Changed | $785,000 GVR |
| 2026-04-13 | Listed | $795,000 GVR |
| 2004-01-28 | Sold (Public Records) | $172,000 Public Records |
| 2003-09-01 | Listed | $174,900 GVR |
| 2003-02-14 | Sold (Public Records) | $130,000 Public Records |
| 2002-12-30 | Listed | $139,900 GVR |
| 1999-09-03 | Sold (Public Records) | $110,000 Public Records |
Zoning & land
R2 — Residential Two suite OK
Areas B/D/E/F: single-unit dwelling zone, so a suite is permitted (watch the wastewater service area carve-out), plus an auxiliary dwelling unit over 2000 m2 and an additional single-unit or two-unit dwelling over 3500 m2. Area A: over 2000 m2 gets a duplex second unit OR one auxiliary dwelling unit, over 4000 m2 a second single-unit dwelling; max 2 units. Sechelt R-2: secondary suite plus SSMUH — up to 4 units where BOTH community water and sanitary sewer are present, otherwise 900 m2 for a detached accessory dwelling unit. [Bylaw 722.9 s.7.2.2, s.5.24; Bylaw 337 s.611.1-611.2; Bylaw 580 s.1.2.2-1.2.5]
| PID | 007-657-102 |
|---|---|
| Parcel | 1035 ROSAMUND RD (SCRD) |
| Wastewater | none mapped — septic likely (no suite carve-out) |
| Water | Chapman system |
| Fire protection | Gibsons/West Howe Sound FPA |
| Bylaw | https://www.scrd.ca/zoning-bylaws/ |
Assessment
| Assessed total | $763,000 |
|---|---|
| Land / improvements | $567,000 / $196,000 (74% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.0 |
| BCA folio | 746.01453.046 |
Open questions
- Built 1973 — oil-tank era. Ask for a tank scan or decommissioning certificate.
- Septic/well: age, last pump-out, and any permits on file? Get the well log and water potability test.
- 166 days on market — ask the listing agent why it hasn't moved.