$699,900 AMBER

5565 Riley Rd, Halfmoon Bay
4 bd · 3.0 ba · 1,810 sqft · 24,700 sqft lot · built 2005 · 234 DOM · MLS R3084936
Redfin ↗
Listing: Redfin search · fetched 2026-09-21T19:15

Description

Sunny home facing southwest located in the exclusive Buccaneer Marina neighbourhood on Secret Cove. This custom 4 bdrm home has a very private exposure bordering into designated park land. Open living plan with vaulted ceilings & floor to ceiling windows. Attractive bathroom up all have skylights, tile flooring & porcelain sinks. Mostly level property finished with double garage plus storage & concrete driveway. This . 59 acre has towering trees providing privacy but still plenty of green yard space for family fun. Lower level has roughed in plumbing. Improvement/renovation was continuously made on this property like new hot water tank and new title floor etc. in 2024. Ver
From listing remarks (Saba Realty Ltd.)

Rating 44 /100

Equity
24.2/40 +30,672 vs limit (+3.3% of ARV)
Cash flow
2.8/30 -668/mo
Suite-arb
11.6/15 zone permits a suite; other conditions short
Motivation
5.2/15 234d on market, no cuts — anchored seller, asking 116% of assessed

Offer case

Price can't fix this. rent test — needs 3,694/mo vs 3,300 estimated. Price cannot fix this; only higher rent (a suite) or a lower ARV would.

EVIDENCE

  • Coast-wide, homes sell at 97.7% of list — a 2.3% discount is simply normal here.
  • 234 days on market vs a 56-day median — but ZERO price cuts, so this reads as an anchored seller, not a motivated one.
  • Asking only 116% of assessed value — a genuine discount to the roll, not the usual 1-2%.
  • Already asking below the $534/sqft local sold level — little room to push.
Support score 0.03 — evidence weight that this seller would entertain the discount. Not a prediction; a checklist with numbers.

The four tests

Equity — PASS
(price + $40,000 reno + PTT+legal closing) <= 85% x ARV
all-in = $699,900 + $40,000 + $14,498 = $754,398 ARV = $923,612 → limit = 85% × ARV = $785,070 margin = $30,672 · at band low ($632,399): $-216,859 — GREEN needs this ≥ 0
Rent — FAIL
est. rent >= 0.40% x ARV
est. rent = $3,300/mo (whole house (4bd) $3,300) floor = 0.4% × ARV $923,612 = $3,694/mo rents table: Halfmoon Bay · as of 2026-08-02
Cash flow — PASS
rent - carrying >= -800/mo (PM-managed, typical rent, at ask)
payment $2,804 (loan $559,920 @ 4.4%/30y) + tax $346 (mls) + ins $158 + maint $165 + vac $198 + PM $297 carrying = $3,968/mo · rent $3,300 → cash flow = $-668/mo (floor $-800)
Suite-arb — FAIL
zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median
zone R2 suite:yes · sqft 1,810 (min 1,900) suite language: no · $/sqft 387 vs median 405
Scored 2026-09-21T07:16 · thresholds from criteria.yaml

Cash-flow scenarios $/mo · hover a cell for carrying cost

Price $3,300 typical
self-managed		 $3,300 typical
PM		 $3,800 high
self-managed		 $3,800 high
PM
$699,900 −$371 −$668 +$74 −$268
$664,905 −5.0% −$231 −$528 +$214 −$128
$640,408 −8.5% −$133 −$430 +$312 −$30
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml

Comps & ARV

ARV $923,612 range $632,399 – $976,560 (about half of comparable sales landed inside this band)
median $/sqft of 12 renovated size-matched sales (12 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence medium ($/sqft used: 536)

Cross-check: comps say $970,160, BC Assessment × sale ratio says $815,000 (+19% apart)

SoldDistSqftPrice$/sqftDateReno
5549 Sans Souci Rd 0.15 km2,205 ~$809,684 3672026-04-03✓
8362 Redrooffs Rd 6.72 km2,140 ~$1,049,952 4912026-02-09✓
5592 Curtis Pl 12.94 km1,358 ~$974,747 7182025-11-14✓
5656 Cook Pl 12.97 km2,330 ~$877,077 3762026-05-19✓
5726 Emily Way 13.06 km1,360 ~$729,595 5362026-03-16✓
5636 Cascade Cres 13.12 km1,284 ~$721,586 5622026-07-18✓
6270 Homestead Ave 13.18 km1,284 ~$756,942 5902026-01-21✓
6307 Homestead Ave 13.2 km1,403 ~$776,476 5532026-01-24✓
~ = final list price × measured sale ratio (BC title registration lags ~3 years, so recent solds have no registered price; the proxy is within ~2% of the registered price when both exist)
Solds from Redfin sold-search + public-records sale prices (belowTheFold)

Price & sale history

2026-09-21delisted absent from search results
2026-09-18delisted absent from search results
2026-09-18delisted absent from search results
2026-08-26delisted absent from search results
2026-08-22delisted absent from search results
2026-08-17delisted absent from search results
2026-08-14delisted absent from search results
2026-08-13delisted absent from search results
2026-08-08delisted absent from search results
2026-08-05new 699900 first seen at $699,900
2026-06-16Price Changed $699,900 GVR
2026-05-07Price Changed $728,000 GVR
2026-03-31Price Changed $749,000 GVR
2026-02-18Price Changed $779,000 GVR
2026-01-30Listed $799,000 GVR
History: Redfin belowTheFold · fetched 2026-09-21T14:45 · events observed by Coastwatch

Zoning & land

R2 — Residential Two suite OK

Areas B/D/E/F: single-unit dwelling zone, so a suite is permitted (watch the wastewater service area carve-out), plus an auxiliary dwelling unit over 2000 m2 and an additional single-unit or two-unit dwelling over 3500 m2. Area A: over 2000 m2 gets a duplex second unit OR one auxiliary dwelling unit, over 4000 m2 a second single-unit dwelling; max 2 units. Sechelt R-2: secondary suite plus SSMUH — up to 4 units where BOTH community water and sanitary sewer are present, otherwise 900 m2 for a detached accessory dwelling unit. [Bylaw 722.9 s.7.2.2, s.5.24; Bylaw 337 s.611.1-611.2; Bylaw 580 s.1.2.2-1.2.5]

  • DPA Zone 2A: Creek/River Corridor
PID023-405-295
Parcel5565 RILEY RD (SCRD)
Wastewaternone mapped — septic likely (no suite carve-out)
WaterChapman system
Fire protectionHalfmoon Bay FPA
Bylawhttps://www.scrd.ca/zoning-bylaws/
SCRD Planning_ZoningLanduse · fetched 2026-08-05T07:16 · meanings from zoning_rules.yaml (verify before relying)

Assessment

Assessed total$815,000
Land / improvements $482,000 / $333,000 (59% land — the higher, the more the value is in the dirt)
Assessed / ask 1.16 asking under assessment
BCA folio746.06464.123
BC Assessment via SCRD parcel layer · fetched 2026-08-05T07:16

Open questions

  • 234 days on market — ask the listing agent why it hasn't moved.

Notes