$1,195,000
879 Rainbow Rd
Beds
1
Baths
1
Sqft
—
Year
2016
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:65958)
- Subtype
- Single Family
- Architectural style
- Westcoast
- Lot size
- 21.66 acres
- MLS#
- 983460
- Area
- SALT_SPRING
Cash on cash
-11.60%
Cap rate
3.57%
GRM
16.7
Break-even rent
$8,407
Financing
Operating expenses (monthly)
Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Mortgage estimate
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 16, 2026.