$739,000 GREY
177 Pratt Rd, Elphinstone
3 bd · 1.5 ba · 1,719 sqft
· 10,890 sqft lot
· built 1976
· 178 DOM · MLS R3087569
Oil-tank era
Listing: Redfin search · fetched 2026-08-03T07:15
Description
Spacious family home on 1/4 acre lot! This 3 bedroom 2 bath home is located on a beautiful, flat, lot close to all the amenities. Schools, beaches, shopping, all within walking distance or a short drive. Detached workshop and extra studio space at the back of the yard. Art studio? Bunkie? Home gym/ yoga space? So many options! The bright and spacious primary bedroom features beautiful French doors opening up to the back patio. Laundry room doubles as a great flex space. Great value and opportunity in this home, it is ready for someone to make it their own!
From listing remarks (Royal LePage Sussex)
Rating 54 /100
| Equity | 40.0/40 | +235,071 vs limit (+19.4% of ARV) | |
| Cash flow | 0/30 | -880/mo | |
| Suite-arb | 11.3/15 | zone permits a suite; other conditions short | |
| Motivation | 3.0/15 | 179d on market, no cuts — anchored seller |
Offer case
Price can't fix this. rent test — needs 4,844/mo vs 3,150 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.
- 179 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 = $739,000 + $40,000 + $15,280 = $794,280
ARV = $1,211,001 → limit = 85% × ARV = $1,029,351
margin = $235,071
Rent — FAIL
est. rent >= 0.40% x ARV
est. rent = $3,150/mo (whole house (3bd) $3,150)
floor = 0.4% × ARV $1,211,001 = $4,844/mo
rents table: Elphinstone · as of 2026-08-02
Cash flow — FAIL
rent - carrying >= -800/mo (PM-managed, typical rent, at ask)
payment $2,960 (loan $591,200 @ 4.4%/30y)
+ tax $281 (mls) + ins $158 + maint $158 + vac $189 + PM $284
carrying = $4,030/mo · rent $3,150 → cash flow = $-880/mo (floor $-800)
Suite-arb — FAIL
zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median
zone R2 suite:yes · sqft 1,719 (min 1,900)
suite language: no · $/sqft 430 vs median 622
Scored 2026-08-03T08:53 · thresholds from criteria.yaml
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $3,150 typical self-managed |
$3,150 typical PM |
$3,500 high self-managed |
$3,500 high PM |
|---|---|---|---|---|
| $739,000 | −$597 | −$880 | −$285 | −$600 |
| $702,050 −5.0% | −$449 | −$732 | −$137 | −$452 |
| $676,185 −8.5% | −$345 | −$629 | −$34 | −$349 |
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml
Comps & ARV
ARV $1,211,001 — median $/sqft of 15 size-matched comps x 112% reno uplift (only 1 renovated comps found) · confidence low ($/sqft used: 629)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 1051 Gower Point Rd | 0.33 km | 1,490 | ~$1,171,102 | 786 | 2026-02-23 | |
| 998 Fircrest Rd | 1.03 km | 1,594 | ~$731,024 | 459 | 2025-09-03 | |
| 617 Gower Point Rd | 1.37 km | 2,003 | ~$799,344 | 399 | 2026-01-16 | |
| 698 Franklin Rd | 1.59 km | 1,238 | ~$975,024 | 788 | 2025-08-22 | |
| 264 Arbutus Reach | 1.86 km | 2,027 | ~$2,630,320 | 1,298 | 2025-09-18 | ✓ |
| 636 Bay Rd | 1.97 km | 1,445 | ~$1,755,824 | 1,215 | 2026-01-30 | |
| 1618 Ocean Beach Espl | 2.03 km | 1,233 | ~$1,244,400 | 1,009 | 2026-04-17 | |
| 1497 Islandview Dr | 2.26 km | 1,574 | ~$1,072,624 | 681 | 2025-08-22 | |
| ~ = 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
| 2026-08-03 | new | 739000 first seen at $739,000 |
| 2026-06-26 | Price Changed | $739,000 GVR |
| 2026-04-23 | Price Changed | $749,000 GVR |
| 2026-03-12 | Price Changed | $765,000 GVR |
| 2026-02-05 | Listed | $788,000 GVR |
History: Redfin belowTheFold · fetched 2026-08-03T08:45
· events observed by Coastwatch
Zoning & land
R2 — Residential Two suite OK
Areas B/D/E/F: single-unit dwelling zone, so a suite is permitted (watch the wastewater service area carve-out), plus an auxiliary dwelling unit over 2000 m2 and an additional single-unit or two-unit dwelling over 3500 m2. Area A: over 2000 m2 gets a duplex second unit OR one auxiliary dwelling unit, over 4000 m2 a second single-unit dwelling; max 2 units. Sechelt R-2: secondary suite plus SSMUH — up to 4 units where BOTH community water and sanitary sewer are present, otherwise 900 m2 for a detached accessory dwelling unit. [Bylaw 722.9 s.7.2.2, s.5.24; Bylaw 337 s.611.1-611.2; Bylaw 580 s.1.2.2-1.2.5]
| PID | 007-637-217 |
|---|---|
| Parcel | 177 PRATT RD (SCRD) |
| Wastewater | none mapped — septic likely (no suite carve-out) |
| Water | Chapman system |
| Fire protection | Gibsons/West Howe Sound FPA |
| Bylaw | https://www.scrd.ca/zoning-bylaws/ |
SCRD Planning_ZoningLanduse · fetched 2026-08-03T05:55 · meanings from zoning_rules.yaml (verify before relying)
Assessment
| Assessed total | $731,000 |
|---|---|
| Land / improvements | $496,000 / $235,000 (68% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 0.99 |
| BCA folio | 746.01455.015 |
BC Assessment via SCRD parcel layer · fetched 2026-08-03T07:16
Open questions
- Built 1976 — oil-tank era. Ask for a tank scan or decommissioning certificate.
- 178 days on market — ask the listing agent why it hasn't moved.