Price is right: Why this Metro Vancouver home is available for $99,999

It is not a joke; a home in Metro Vancouver is available for $99,999.

The home was previously listed for $218,000 in October of last year and has been on the market for 200 days total and 28 days at the new price. BC Assessment has pegged the value even lower, a reversal of the usual realities of property assessments.

BC Assessment lists the total value at $92,800, but only $900 of that is land value. $91,900 is attributed to the value of the building.

So, what’s the deal with 28-3871 West River Road?

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Daily Hive Urbanized has covered this home in the past, but thanks to this discount, it was worth revisiting.

Located in Delta, BC, the “Sweet Spot,” as the float home is known, features one bedroom and one bathroom in a cozy 499 sq ft property.

According to the listing, the home offers unobstructed views of the river and mountains and the unique ability to launch a canoe or kayak right from the deck.

Sutton Group Seafair Realty

The listing states the interior is a blend of eclectic and vintage decor.

Sutton Group Seafair Realty

One reason for the low price is that the listing states that the home needs some tender loving care and renovation work.

Sutton Group Seafair Realty

“The interior is vintage decor, and it is a canvas waiting for your personal touches,” says the Sutton Group Seafair Realty listing.

“Plenty of room to make a great spot to live,” it adds.

Ty Corise, a local realtor, had some of his own thoughts on the property.

In an Instagram post, he says it “needs a lot of love, but you are right on the water.”

He adds that there are views of the North Shore mountains, and the property offers easy access for kayakers.

“This one could be yours,” he adds in the video.

While the home is cheap, that doesn’t mean it doesn’t come with its own costs. The post from Corsie adds that the monthly moorage fees are about $1,300, which is still well below the average monthly rent you’re paying in Metro Vancouver for a one-bedroom unit.

The future owner would also incur costs for a roof replacement and a new heat source.

Would you fork over the low cost for this Metro Vancouver float home?