615 5981 Gray Avenue

Vancouver · MLS® R3179805

all units at 5981 Gray Ave →

321

985 sq ft · Condo · Single Family · built 2014 · listed today

listed by Bill Li, Royal Pacific Riverside Realty Ltd.

realtor's description

Rarely available southeast corner 3-bedroom, 2-bathroom home with AIR CONDITIONING at SAIL by award-winning Adera in UBC's desirable Wesbrook Village! This bright and spacious SE-facing home features abundant natural light, a functional open-concept living and dining area, radiant in-floor heating, a well-appointed kitchen, a primary bedroom with walk-in closet and ensuite, and a generous private deck. Enjoy year-round comfort with A/C and heating. Steps to Save-On-Foods, shops, restaurants, cafes, parks and transit. Close to UBC campus, Norma Rose Point Elementary and University Hill Secondary. An exceptional opportunity for comfortable living in a vibrant and peaceful community!

property details

type: Condo, Single Family
bedrooms: 3
bathrooms: 2
living area: 985 sq ft
parking: 1
year built: 2014
property tax: $2,203 / yr
strata fee: $552 / mo ($0.56 / sq ft)
strata rules: Pets Allowed With Restrictions, Rentals Allowed With Restrictions
days on market: 0
MLS®: R3179805

features

Elevator
Pets Allowed With Restrictions
Rentals Allowed With Restrictions
All

the market here

listed now: 45 days; median for 2079 condos for sale; this one listed today

Condos in Vancouver. Sale prices register 1 to 3 months after a sale closes.

property tax by year

year	assessed	est. tax
2026	$1,135,000	$3,817
2025	$1,128,000	$3,514

Estimated tax up 8.6% from 2025 to 2026.

The listing shows $2,203 a year in property tax.

Estimate: the BC Assessment value times Vancouver's residential tax rate for that year (Province of BC, local government statistics). Leaves out the home owner grant, parcel taxes and utility charges; the city's tax notice is the real figure.

monthly cost

$5,836/mo

Mortgage $5,100 · Tax $184 · Strata $552

20% down at 4.44% fixed (Ratehub.ca), 25 years; tax from the listing; strata fee from the listing.

estimated payment

$5,100/ monthly

loan $927,104

25-year amortization

down payment20% · $231,77620%+ down: no mortgage insuranceinterest rate4.44%Rates from Ratehub.ca (best 5-year fixed and variable), checked Oct 30, 2026. Semi-annual compounding; your lender's rate may differ.amortizationpayment frequency

total interest: $603,013
property transfer tax: $21,178; BC general rate
cash to close: $252,954; down + PTT
total paid: $1,530,117

first-time buyernewly builtforeign national

Estimates only. Rates change daily and lenders qualify at the stress-test rate. Talk to a mortgage broker before you offer. Transfer tax: 1% to $200k, 2% to $2M, 3% to $3M, 5% above. First-time buyers pay nothing on the first $500k for homes up to $835k (phasing out by $860k); newly built homes are exempt up to $1.1M (phasing out by $1.15M). Both need Canadian citizenship or permanent residence and other conditions; the 20% foreign buyer tax applies in Metro Vancouver, the Fraser Valley, the Capital Region, Central Okanagan and Nanaimo.

if you rented it out

rent: $3,330/mo
after all costs: −$2,808/mo
cap rate: 2.4%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $5,100 · tax $184 · strata $552 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 3+ bedroom in Metro Vancouver: CMHC's average there ($2,820) raised by what new tenants pay against everyone in the Vancouver area, then down 3.5% with Vancouver's asking rents, 2025 Q4 → 2026 Q2. (CMHC Rental Market Survey, October 2025; CMHC Rental Market Report 2025, table 6.0 (rents on units that turned over to a new tenant); trend: Statistics Canada.) Houses usually rent for more than apartments. 25-year mortgage; rental purchases need at least 20% down.

BC rules for landlords

Short-term rentals are limited to the host's principal residence in most communities. gov.bc.ca
Rent increases are capped once a year at the province's set amount. gov.bc.ca
The speculation and vacancy tax applies in many areas to homes not lived in or rented out. gov.bc.ca
Vancouver also charges an empty homes tax. vancouver.ca
Selling within two years of buying can trigger the BC home flipping tax. gov.bc.ca

location

the building's lot: 8,182 m² (88,070 sq ft) · PID 030-644-704. from ParcelMap BC; property lines are approximate, a survey is the legal boundary.

VancouverGoogle Maps ↗

schools

Catchment schools, Vancouver School Board

Elementary Norma Rose Point Elementaryhomes in this catchment
900 m away · 5488 Ortona Ave, Vancouver · 604-713-5950
Secondary University Hill Secondaryhomes in this catchment
600 m away · 3228 Ross Dr, Vancouver · 604-713-8258

From the Vancouver School Board's published catchment maps. A catchment gives priority, not a guaranteed seat, and French immersion and choice programs work differently. The district confirms catchment: check with its school locator.

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