$749,000 GREY
Description
Rating 8 /100
| Equity | 0/40 | -128,577 vs limit (-16.2% of ARV) | |
| Cash flow | 0/30 | -1,666/mo | |
| Suite-arb | 3.9/15 | zone permits a suite; other conditions short | |
| Motivation | 4.5/15 | 23d on market, 1 cut(s), asking 138% of assessed |
Offer case
Price can't fix this. rent test — needs 3,181/mo vs 2,460 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.
- Only 23 days on market — too fresh for a big discount.
- 1 price cut(s) already — the seller has shown they will move.
- Asking only 138% of assessed value — a genuine discount to the roll, not the usual 1-2%.
- Asking $764/sqft where comparable homes sold at $495/sqft (+54%) — the ask is above the local clearing price.
- 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 | $2,460 typical self-managed |
$2,460 typical PM |
$2,829 high self-managed |
$2,829 high PM |
|---|---|---|---|---|
| $749,000 | −$1,444 | −$1,666 | −$1,116 | −$1,370 |
| $711,550 −5.0% | −$1,294 | −$1,516 | −$966 | −$1,220 |
| $685,335 −8.5% | −$1,189 | −$1,410 | −$861 | −$1,115 |
Comps & ARV
ARV $795,180
range $680,833 – $1,033,928
(about half of comparable sales landed inside this band)
median $/sqft of 5 renovated size-matched sales (5 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence low
($/sqft used: 707)
Cross-check: comps say $692,860, BC Assessment × sale ratio says $1,033,928 (-33% apart — disagreement this large triples comp error historically)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5750 Spindrift St | 0.49 km | 1,176 | ~$556,548 | 473 | 2026-05-10 | ✓ |
| 5808 Anchor Rd | 0.66 km | 1,056 | ~$780,144 | 739 | 2026-02-20 | ✓ |
| 6472 Jasper Rd | 3.31 km | 1,163 | ~$750,852 | 646 | 2026-07-01 | ✓ |
| 4657 Whitaker Rd | 4.61 km | 1,104 | ~$781,022 | 707 | 2025-10-08 | ✓ |
| 5625 O'brian Rd | 11.85 km | 856 | ~$868,020 | 1,014 | 2026-03-06 | ✓ |
| ~ = 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: $375,000, 2016-06-30 — asking +99.7%
| 2026-09-09 | relist | time-on-market reset — relisted |
| 2026-09-09 | price_cut | 4980000 → 749000 -85.0% |
| 2026-09-05 | delisted | absent from search results |
| 2026-08-03 | new | 4980000 first seen at $4,980,000 |
| 2026-09-09 | Listed | $749,000 GVR |
| 2016-06-30 | Sold (Public Records) | $375,000 Public Records |
| 2016-03-16 | Listed | $419,900 GVR |
| 1999-03-08 | Sold (Public Records) | $111,000 Public Records |
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 | 006-394-205 |
|---|---|
| Parcel | 5686 WHARF AVE (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $1,036,000 |
|---|---|
| Land / improvements | $1,026,000 / $10,000 (99% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.38 asking under assessment |
| BCA folio | 570.00075.000 |
Open questions
None generated.