$699,000 GREY SUITE-ARB
Description
Rating 32 /100
| Equity | 11.6/40 | -30,808 vs limit (-3.6% of ARV) | |
| Cash flow | 2.8/30 | -668/mo | |
| Suite-arb | 15.0/15 | add-a-suite opportunity, unpriced | |
| Motivation | 3.0/15 | 193d on market, no cuts — anchored seller |
Offer case
Price can't fix this. rent test — needs 3,401/mo vs 3,400 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.
- 193 days on market vs a 60-day median — but ZERO price cuts, so this reads as an anchored seller, not a motivated one.
- Already asking below the $495/sqft local sold level — little room to push.
- ARV confidence is LOW (thin or unrenovated comps) — the target price below could be off by 10%+ in either direction.
The four tests
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $3,400 typical self-managed |
$3,400 typical PM |
$3,900 high self-managed |
$3,900 high PM |
|---|---|---|---|---|
| $699,000 | −$362 | −$668 | +$83 | −$268 |
| $664,050 −5.0% | −$222 | −$528 | +$223 | −$128 |
| $639,585 −8.5% | −$124 | −$430 | +$321 | −$30 |
Comps & ARV
ARV $850,202
range $661,674 – $955,465
(about half of comparable sales landed inside this band)
median $/sqft of 12 renovated size-matched sales (12 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence low
($/sqft used: 490)
Cross-check: comps say $931,000, BC Assessment × sale ratio says $661,674 (+41% apart — disagreement this large triples comp error historically)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5833 Heron Pl | 1.09 km | 1,915 | ~$829,842 | 433 | 2025-11-10 | ✓ |
| 6355 Baillie Rd | 1.85 km | 2,288 | ~$1,220,500 | 533 | 2026-01-22 | ✓ |
| 6242 Norwest Bay Rd | 1.95 km | 1,707 | ~$671,275 | 393 | 2025-10-19 | ✓ |
| 5641 Nickerson Rd | 2.17 km | 1,487 | ~$805,530 | 542 | 2026-03-06 | ✓ |
| 6307 Homestead Ave | 2.23 km | 1,403 | ~$776,238 | 553 | 2026-01-24 | ✓ |
| 5726 Emily Way | 2.24 km | 1,360 | ~$729,371 | 536 | 2026-03-16 | ✓ |
| 5656 Cook Pl | 2.46 km | 2,330 | ~$876,807 | 376 | 2026-05-19 | ✓ |
| 5592 Curtis Pl | 2.6 km | 1,358 | ~$974,447 | 718 | 2025-11-14 | ✓ |
| ~ = 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
| 2026-08-03 | new | 699000 first seen at $699,000 |
| 2026-03-23 | Listed | $699,000 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 | 007-736-797 |
|---|---|
| Parcel | 5762 SPINDRIFT ST (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $663,000 |
|---|---|
| Land / improvements | $481,000 / $182,000 (72% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 0.95 |
| BCA folio | 570.00096.450 |
Open questions
- Confirm suite legality with the planning department — zone says yes, verify parcel specifics (parking, servicing, floor-area cap).
- Built 1976 — oil-tank era. Ask for a tank scan or decommissioning certificate.
- 186 days on market — ask the listing agent why it hasn't moved.