Property Type: Condo / ApartmentOwnership: Strata

177 Maracaibo Lane

Salt Spring, BC V8K1S6

$1,695,000

2 bed2 bath2 parking1,616 sqftBuilt 2023
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Property Details

Property & Lot

Sub-type
House
Lot size
5,371 square feet
Zoning
Residential

Ownership & Fees

Property type
Condo / Apartment
Ownership
Strata
Strata / maintenance fee
$418/mo
Annual property tax
$6,299

Interior

Heating
Baseboard heaters, Other
Cooling / A/C
None
Fireplace
Yes (1)

Exterior & Lot

View
Ocean view
Waterfront
Waterfront on ocean

Parking

Total spaces
2 — uncovered indicated
Features
Stall

Restrictions & Policies

Pets
Allowed

As reported by the listing board — always confirm current bylaws with the strata or landlord before relying on this.

Room Dimensions

RoomLevelDimensions
DenMain level
StorageLower level
Dining roomMain level
Living roomMain level
KitchenMain level
Laundry roomMain level
BedroomMain level
Primary BedroomMain level
BathroomMain level
BathroomMain level

Listing Information

MLS®
1044876
Listed
August 2, 2026
Time on market
On the market for 30 days
Data last synced
August 28, 2026

Listing provided by: Engel & Volkers Vancouver Island · Data source: CREA DDF.

Description

Stunning oceanfront residence showcasing refined West Coast design and quality craftsmanship. This custom-built 2-bedroom, 2-bathroom plus den home is truly turnkey, offering approximately 1,600 square feet of thoughtfully designed living space. An open-concept layout with vaulted ceilings, exposed wood beams, and custom millwork creates warmth and flow, while large windows fill the home with natural light and connect it to the surrounding coastal setting and wildlife. The kitchen features custom cabinetry, a generous island with seating, and stainless steel appliances, seamlessly connecting to the dining and living areas—ideal for everyday living and entertaining. Located in the private, community of Maracaibo Estates, owners enjoy access to a marina, swimming lagoon, clubhouse, guest cottages, tennis and pickleball courts, and scenic walking trails. A rare opportunity to own an oceanfront home in a tranquil, amenity-rich setting. Maracaibo share sold separately. (id:63159)

Values & Trends

This listing

$1,049/sqft

Building average

No other active listings in this building

Maracaibo average

No comparable active listings

Parking: 2 stall(s) includedStorage locker: Not indicated

Per-stall/locker dollar values aren't itemized in our data source — shown as included/not indicated only, not a fabricated estimate. $/sqft averages are computed live from other active listings, not a third-party model.

Location Insights

Weather

Nearest station: Duncan

15°C

Humidity 82%

Wind NNW calm km/h

Tonight

12°

Tuesday

21°

Tuesday night

14°

Wednesday

16°

Wednesday night

11°

Thursday

17°

Source: Environment and Climate Change Canada.

Nearby Schools

SchoolTypeDistance
Salt Spring ElementaryElementary3.3 km
Gulf Islands SecondarySecondary3.6 km
Phoenix PlaceSecondary3.7 km
Fernwood ElementaryElementary7.9 km
Galiano Community SchoolElementary9.5 km
Mayne Island SchoolElementary13.0 km
Crofton Elementary Community SchoolElementary13.6 km
Maple Bay ElementaryElementary15.0 km

Schools shown by distance from this property. This does not indicate school catchment or enrollment eligibility — contact the school district to confirm catchment boundaries.

Nearby Transit

No TransLink stops within an ~10-minute walk.

School district: Gulf Islands (SD64)

Similar Listings Nearby

No similar listings found nearby right now.

Mortgage & Ownership Cost Calculator

Minimum required: 20.0% ($339,000) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.

Financial Ledger

Net mortgage (loan + CMHC insurance)$1,356,000.00
Periodic payment — Principal & Interest (monthly)$8,748.45
Additional monthly expenses (strata, tax, utilities, etc.)$1,023.92
Total monthly cost$9,772.37
Interest paid over 5-yr term$388,633.50
Balance at end of term$1,219,726.39

Rates based on Bank of Canada benchmark data.

Financial Summary

Minimum down payment$339,000
Stress test qualifying rate8.09%
Payment you must qualify for$10,427.17

Cash Needed at Closing

Minimum down payment$339,000
Estimated BC PTT$31,900
Legal / closing costs (typical estimate)$1,500
Total cash needed$372,400

Minimum down payment: 5% on the first $500,000, 10% on the portion up to $1.5M, 20% at/above $1.5M. Stress test: OSFI's minimum qualifying rate, the greater of contract rate + 2% or 5.25% — this is what lenders require you to qualify at, not what you'll actually pay. Closing costs are a typical-range estimate, not a quote — actual legal fees vary. Verify all figures with a mortgage broker and lawyer before relying on them.

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