$689,000 GREY
535 Shaw Rd #26, Gibsons
2 bd · 2.0 ba · 1,374 sqft
· 4,757 sqft lot
· built 2001
· 97 DOM · MLS R3116629
Septic / well
Listing: Redfin search · fetched 2026-08-03T07:15
Description
Immaculately maintained 2 bed, 2 bath home offering 1,374 sq ft in a quiet, well-kept community. Thoughtfully updated with a new roof and new hot water tank, this home offers peace of mind and comfortable living. Spacious and bright, the functional layout is ideal for downsizers or those seeking easy, low-maintenance living. Weekly lawn care is included in the strata, allowing you to enjoy more and maintain less. Just a short stroll to nearby amenities and close to trail access for outdoor enjoyment. A wonderful opportunity in a peaceful, convenient location.
From listing remarks (RE/MAX Oceanview Realty)
Rating 41 /100
| Equity | 33.7/40 | +82,753 vs limit (+8.5% of ARV) | |
| Cash flow | 0/30 | -1,124/mo | |
| Suite-arb | 5.4/15 | zone permits a suite; other conditions short | |
| Motivation | 2.3/15 | 97d on market, no cuts — anchored seller |
Offer case
Price can't fix this. rent test — needs 3,887/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.
- 97 days on market vs a 59-day median — but ZERO price cuts, so this reads as an anchored seller, not a motivated one.
- ARV confidence is LOW (thin or unrenovated comps) — the target price below could be off by 10%+ in either direction.
Support score 0.0 — evidence weight that this seller
would entertain the discount. Not a prediction; a checklist with numbers.
The four tests
Equity — PASS
(price + $40,000 reno + PTT+legal closing) <= 85% x ARV
all-in = $689,000 + $40,000 + $14,280 = $743,280
ARV = $971,803 → limit = 85% × ARV = $826,033
margin = $82,753
Rent — FAIL
est. rent >= 0.40% x ARV
est. rent = $2,706/mo (whole house (2bd) $2,706)
floor = 0.4% × ARV $971,803 = $3,887/mo
rents table: Gibsons · as of 2026-08-02
Cash flow — FAIL
rent - carrying >= -800/mo (PM-managed, typical rent, at ask)
payment $2,760 (loan $551,200 @ 4.4%/30y)
+ tax $370 (mls) + ins $158 + maint $135 + vac $162 + PM $244
carrying = $3,830/mo · rent $2,706 → cash flow = $-1,124/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 501 vs median 501
Scored 2026-08-03T08:58 · 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 |
|---|---|---|---|---|
| $689,000 | −$881 | −$1,124 | −$625 | −$895 |
| $654,550 −5.0% | −$743 | −$986 | −$487 | −$757 |
| $630,435 −8.5% | −$646 | −$890 | −$391 | −$660 |
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml
Comps & ARV
ARV $971,803 — median $/sqft of 12 size-matched comps x 112% reno uplift (only 0 renovated comps found) · confidence low ($/sqft used: 632)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 998 Fircrest Rd | 0.65 km | 1,594 | ~$730,724 | 458 | 2025-09-03 | |
| 702 Gibsons Way | 0.89 km | 1,452 | ~$828,284 | 570 | 2026-03-12 | |
| 765 Cascade Cres | 1.02 km | 1,131 | ~$712,188 | 630 | 2025-10-08 | |
| 614 Glen Rd | 1.11 km | 1,551 | ~$974,624 | 628 | 2026-01-14 | |
| 786 Creekside Cres | 1.17 km | 1,668 | ~$779,504 | 467 | 2025-10-29 | |
| 636 Bay Rd | 1.18 km | 1,445 | ~$1,755,104 | 1,215 | 2026-01-30 | |
| 698 Franklin Rd | 1.31 km | 1,238 | ~$974,624 | 787 | 2025-08-22 | |
| 1051 Gower Point Rd | 1.89 km | 1,490 | ~$1,170,622 | 786 | 2026-02-23 | |
| ~ = final list price used as sale proxy (BC title registration lags ~6-12 mo) | ||||||
Solds from Redfin sold-search + public-records sale prices (belowTheFold)
Price & sale history
Seller basis: $369,000, 2008-09-10 — asking +86.7%
| 2026-08-03 | new | 689000 first seen at $689,000 |
| 2026-06-08 | Price Changed | $689,000 GVR |
| 2026-04-28 | Listed | $699,000 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 2026-08-03T08:45
· 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.
- 97 days on market — ask the listing agent why it hasn't moved.