879 Rainbow Rd
Salt Spring, BC V8K2M8
$1,195,000
Property Details
Property & Lot
- Sub-type
- House
- Lot size
- 21.66 acres
- Zoning
- Rural residential
Rural
Ownership & Fees
- Property type
- Detached House
- Ownership
- Freehold
- Annual property tax
- $5,078
Interior
- Heating
- Baseboard heaters, Electric
- Cooling / A/C
- None
- Fireplace
- None
Exterior & Lot
- View
- Mountain view
Parking
- Total spaces
- 2 — covered indicated
- Features
- Garage
Room Dimensions
| Room | Level | Dimensions |
|---|---|---|
| Bathroom | Main level | 4-Piece |
| Primary Bedroom | Main level | 14' x 15' |
| Kitchen | Main level | 9' x 16' |
| Living room | Main level | 15' x 16' |
| Entrance | Lower level | 6' x 4' |
Listing Information
- MLS®
- 983460
- Listed
- December 30, 2024
- Time on market
- On the market for 609 days
- Data last synced
- August 28, 2026
Listing provided by: Pemberton Holmes - Salt Spring · Data source: CREA DDF.
Description
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:63159)
Values & Trends
This listing
$1,277/sqft
Building average
—
No other active listings in this building
Salt Spring average
$754/sqft
81 active listing(s)
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
| School | Type | Distance |
|---|---|---|
| Phoenix Place | Secondary | 3.0 km |
| Gulf Islands Secondary | Secondary | 3.0 km |
| Salt Spring Elementary | Elementary | 3.4 km |
| Fernwood Elementary | Elementary | 5.6 km |
| Crofton Elementary Community School | Elementary | 7.0 km |
| Maple Bay Elementary | Elementary | 9.4 km |
| Queen of Angels School(Independent) | Elementary/Middle | 12.4 km |
| Alex Aitken | Elementary | 12.7 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)
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Mortgage & Ownership Cost Calculator
Minimum required: 7.9% ($94,500) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.
Financial Ledger
Rates based on Bank of Canada benchmark data.
Financial Summary
Cash Needed at Closing
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.