$675,000 GREY
Description
Rating 17 /100
| Equity | 0/40 | -92,600 vs limit (-12.4% of ARV) | |
| Cash flow | 0/30 | -943/mo | |
| Suite-arb | 5.1/15 | zone permits a suite; other conditions short | |
| Motivation | 12.0/15 | 150d on market, 2 cut(s) |
Offer case
GREEN at $525,000 — that's $150,000 (22.2%) below the $675,000 ask. Realistic offer
EVIDENCE
- Coast-wide, homes sell at 97.6% of list — a 2.4% discount is simply normal here.
- 150 days on market vs a 60-day median.
- 2 price cut(s) already — the seller has shown they will move.
- Asking $524/sqft where comparable homes sold at $495/sqft (+6%) — the ask is above the local clearing price.
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 |
|---|---|---|---|---|
| $675,000 | −$673 | −$943 | −$273 | −$583 |
| $641,250 −5.0% | −$538 | −$808 | −$138 | −$448 |
| $617,625 −8.5% | −$444 | −$714 | −$43 | −$354 |
Comps & ARV
ARV $748,706
range $678,099 – $925,973
(about half of comparable sales landed inside this band)
median $/sqft of 11 renovated size-matched sales (11 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence medium
($/sqft used: 589)
Cross-check: comps say $758,632, BC Assessment × sale ratio says $725,546 (+5% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5726 Emily Way | 0.03 km | 1,360 | ~$729,371 | 536 | 2026-03-16 | ✓ |
| 6270 Homestead Ave | 0.23 km | 1,284 | ~$756,710 | 589 | 2026-01-21 | ✓ |
| 5641 Nickerson Rd | 0.31 km | 1,487 | ~$805,530 | 542 | 2026-03-06 | ✓ |
| 6307 Homestead Ave | 0.34 km | 1,403 | ~$776,238 | 553 | 2026-01-24 | ✓ |
| 5636 Cascade Cres | 0.38 km | 1,284 | ~$721,364 | 562 | 2026-07-18 | ✓ |
| 5592 Curtis Pl | 0.63 km | 1,358 | ~$974,447 | 718 | 2025-11-14 | ✓ |
| 6472 Jasper Rd | 1.03 km | 1,163 | ~$750,852 | 646 | 2026-07-01 | ✓ |
| 5808 Anchor Rd | 1.97 km | 1,056 | ~$780,144 | 739 | 2026-02-20 | ✓ |
| ~ = 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: $320,000, 2007-06-05 — asking +110.9%
| 2026-09-21 | price_cut | 699000 → 675000 -3.4% |
| 2026-08-17 | price_cut | 710000 → 699000 -1.5% |
| 2026-08-03 | new | 710000 first seen at $710,000 |
| 2026-09-21 | Price Changed | $675,000 GVR |
| 2026-08-17 | Price Changed | $699,000 GVR |
| 2026-06-01 | Price Changed | $710,000 GVR |
| 2026-05-05 | Listed | $719,000 GVR |
| 2007-06-05 | Sold (Public Records) | $320,000 Public Records |
| 2007-04-07 | Listed | $324,000 GVR |
| 2006-10-13 | Sold (Public Records) | $269,946 Public Records |
Zoning & land
R-3 — Small Lot Residential suite OK
Areas B/D/E/F: single-unit dwelling with a restricted second storey. Density is capped at one dwelling per parcel, but s.5.24.4 excludes secondary suites from that count, so a suite still works (wastewater carve-out aside). No auxiliary dwelling unit here. Area A: residential with auxiliary commercial — over 2000 m2 gets a duplex second unit OR one auxiliary dwelling unit. Sechelt R-3: SSMUH small-lot zone, suite plus up to 4 units. [Bylaw 722.9 s.7.3.2-7.3.3, s.5.24.4; Bylaw 337 s.621.1; Bylaw 580 s.1.3.2-1.3.4]
| PID | 026-559-617 |
|---|---|
| Parcel | 5723 NICKERSON RD (Sechelt) |
| Wastewater | District of Sechelt sewer service |
| Water | Chapman system |
| Fire protection | Sechelt FPA |
Assessment
| Assessed total | $727,000 |
|---|---|
| Land / improvements | $451,000 / $276,000 (62% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.08 asking under assessment |
| BCA folio | 570.06421.190 |
Open questions
- 145 days on market — ask the listing agent why it hasn't moved.