879 Rainbow Rd
$1,195,000
Salt Spring
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About this home
Own your own piece of heaven on beautiful Salt Spring Island! Admire the spectacular ocean view, and stunning sunsets. Groceries, restaurants and entertainment are found nearby in Ganges (7 minutes). Enjoy Salt Spring’s vibrant arts community. Hike the many trails in Mount Erskine Provincial Park which borders the property. Options are endless! 9 minutes from the Vesuvius ferry, the newly refurbished, open-concept carriage house sits on 21.66 acres of forested land and boasts floor-to-ceiling windows, a 40 x 10 ft. deck facing Vancouver Island. The 25 x 30 ft. garage/workshop can be used as is or converted to additional living space. Two 200-amp services and two ample wells (10gpm and 4gpm). Zoning permits subdivision into three lots, each with a main residence and cottage. Three fully serviced (water/hydro/septic) and three partially serviced RV/trailer sites provide immediate rental income opportunities. Contact your realtor and see what this unique property has to offer. (id:65179)
Property details
From the listing's public record.
Lot size
21.66 acres
Year built
2016
Taxes
$5,078/yr
Zoning
Rural residential
View
Appliances
Heating
Parking
Lot
Style
Price history
5 recordsEvery recorded listing event for this property — sales, relists, expired or withdrawn listings.
Dec 30, 2024
Listed $1,195,000
Active546 days on marketMLS 983460Dec 18, 2023
Listed $1,375,000
Expired365 days on marketMLS 949888Mar 10, 2021
Listed $1,400,000
Expired97 days on marketMLS 867378May 31, 2018
$747,500
Sold47 days on marketMLS 782246Sep 12, 2014
$295,000
Sold374 days on marketMLS 649606
How this listing compares
Based on 97 sales in Salt SpringMedian sold
$1,035,000
Avg days on market
83 days
Avg sale-to-list
94.8%
Avg $/sqft
$549
Price per square foot
Above area average
Current market in Salt Spring
Active (same type)
101
Pending
20
All active listings
175
Months of supply
12.5
Buyer's market — 12.5 months of supply at the current sales pace.
Assessment
From publicly available property records.
Assessed value
$1,519,000
Land
$936,000
Improvements
$583,000
Homes in Gulf Islands sell at 103.9% of assessed value on average.
Based on 154 recent sales.
Local price trend
How Salt Spring has moved over the last decade.
Local price index (normalized) · 119 months
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Interested in this home?
Ask a question or arrange a viewing — or get our full inside-agent valuation of this home.
Listed by Pemberton Holmes - Salt Spring