$679,000 GREY
535 Shaw Rd #26, Gibsons
2 bd · 2.0 ba · 1,374 sqft
· 4,757 sqft lot
· built 2001
· 12 DOM · MLS R3165933
Septic / well
Listing: Redfin search · fetched 2026-09-27T19:15
Description
Immaculately maintained, single-level detached home offering 2 bedrooms, 2 bathrooms and 1,374 sq. ft. of comfortable living space in a quiet, well-kept strata community. A recently replaced roof and new hot water tank provide added peace of mind, while the bright, functional layout is ideal for downsizers or anyone seeking easy, low-maintenance living. Weekly lawn care is included in the strata fees, leaving more time to enjoy the fenced yard, nearby trails and amenities just a short stroll away. A wonderful opportunity in a peaceful and convenient location.
From listing remarks (RE/MAX Oceanview Realty)
Rating 8 /100
| Equity | 0/40 | -100,078 vs limit (-13.4% of ARV) | |
| Cash flow | 0/30 | -1,084/mo | |
| Suite-arb | 5.4/15 | zone permits a suite; other conditions short | |
| Motivation | 2.2/15 | 17d on market, 1 cut(s) |
Offer case
Price can't fix this. rent test — needs 2,979/mo vs 2,706 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 17 days on market — too fresh for a big discount.
- 1 price cut(s) already — the seller has shown they will move.
- Already asking below the $545/sqft local sold level — little room to push.
Support score 0.0 — evidence weight that this seller
would entertain the discount. Not a prediction; a checklist with numbers.
The four tests
Equity — FAIL
(price + $40,000 reno + PTT+legal closing) <= 85% x ARV
all-in = $679,000 + $40,000 + $14,080 = $733,080
ARV = $744,708 → limit = 85% × ARV = $633,002
margin = $-100,078 · at band low ($734,632): $-108,643 — GREEN needs this ≥ 0
Rent — FAIL
est. rent >= 0.40% x ARV
est. rent = $2,706/mo (whole house (2bd) $2,706)
floor = 0.4% × ARV $744,708 = $2,979/mo
rents table: Gibsons · as of 2026-08-02
Cash flow — FAIL
rent - carrying >= -800/mo (PM-managed, typical rent, at ask)
payment $2,720 (loan $543,200 @ 4.4%/30y)
+ tax $370 (mls) + ins $158 + maint $135 + vac $162 + PM $244
carrying = $3,790/mo · rent $2,706 → cash flow = $-1,084/mo (floor $-800)
Suite-arb — FAIL
zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median
zone RL-1 suite:yes · sqft 1,374 (min 1,900)
suite language: no · $/sqft 494 vs median 494
Scored 2026-10-02T05:55 · thresholds from criteria.yaml
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $2,706 typical self-managed |
$2,706 typical PM |
$2,993 high self-managed |
$2,993 high PM |
|---|---|---|---|---|
| $679,000 | −$841 | −$1,084 | −$585 | −$855 |
| $645,050 −5.0% | −$705 | −$948 | −$449 | −$719 |
| $621,285 −8.5% | −$609 | −$853 | −$354 | −$623 |
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml
Comps & ARV
ARV $744,708
range $734,632 – $778,295
(about half of comparable sales landed inside this band)
median $/sqft of 12 renovated size-matched sales (12 priced from list × measured sale ratio — ~3y registration lag) · confidence high
($/sqft used: 542)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 304 Esplanade Rd | 5.74 km | 1,733 | ~$937,246 | 541 | 2026-06-15 | ✓ |
| 776 Geddes Rd | 5.88 km | 1,460 | ~$877,784 | 601 | 2026-02-19 | ✓ |
| 4598 Whitaker Rd | 15.42 km | 1,707 | ~$712,772 | 418 | 2026-02-03 | ✓ |
| 4657 Whitaker Rd | 15.61 km | 1,104 | ~$781,022 | 707 | 2025-10-08 | ✓ |
| 5750 Spindrift St | 19.27 km | 1,176 | ~$556,548 | 473 | 2026-05-10 | ✓ |
| 5808 Anchor Rd | 19.74 km | 1,056 | ~$780,144 | 739 | 2026-02-20 | ✓ |
| 6242 Norwest Bay Rd | 20.9 km | 1,707 | ~$671,275 | 393 | 2025-10-19 | ✓ |
| 5641 Nickerson Rd | 21.35 km | 1,487 | ~$805,530 | 542 | 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) | ||||||
Solds from Redfin sold-search + public-records sale prices (belowTheFold)
Price & sale history
Seller basis: $369,000, 2008-09-10 — asking +84.0%
| 2026-09-16 | relist | time-on-market reset — relisted |
| 2026-09-16 | price_cut | 689000 → 679000 -1.5% |
| 2026-08-03 | new | 689000 first seen at $689,000 |
| 2026-09-15 | Listed | $679,000 GVR |
| 2008-09-10 | Sold (Public Records) | $369,000 Public Records |
| 2008-06-25 | Listed | $369,000 GVR |
| 2001-11-30 | Sold (Public Records) | $186,639 Public Records |
History: Redfin belowTheFold · fetched 2026-09-27T19:15
· events observed by Coastwatch
Zoning & land
RL-1 — RL-1 - Low-Density Residential Zone suite OK
Gibsons Low-Density Residential. Far stronger than a suite: THREE dwelling units on lots up to 280 m2 and FOUR on anything larger, max four units per building, 325 m2 GFA cap for a standalone dwelling. Rear building height of 6.5 m within 7.5 m of the rear lot line is what makes suites-above-garages and laneway homes work where there is a lane. Minimum lot area 280 m2. [gibsons.ca Bylaw 1342 s.2.2.1]
- Aquifer Protection DPA: Aquifer Protection Sub Area 3 — Aquifer protection DPA: septic siting and well drilling are constrained.
| PID | N/A |
|---|---|
| Parcel | SHAW RD (Gibsons) |
| Wastewater | Town of Gibsons sewer service |
| Water | Gibsons Zone 2 - Gibsons Aquifer system |
| Fire protection | Gibsons/West Howe Sound FPA |
Town of Gibsons Zoning Bylaw (current, via Property Viewer service) · fetched 2026-08-03T05:55 · meanings from zoning_rules.yaml (verify before relying)
Assessment
Not fetched yet — runs with the next enrichment pass.
Open questions
- Septic/well: age, last pump-out, and any permits on file? Get the well log and water potability test.
- Aquifer Protection DPA: Aquifer Protection Sub Area 3: Aquifer protection DPA: septic siting and well drilling are constrained.