$749,000 GREY

5700 Porpoise Bay Rd, Sechelt

3 bd · 1.0 ba · 1,000 sqft · 14,713 sqft lot · 41 DOM · MLS R3156450

Redfin ↗

Listing: Redfin search · fetched 2026-09-27T19:15

Description

A unique opportunity in Sechelt with options for homeowners, investors and developers alike. This approximately 14,000 sq ft property features an older character home that, with renovation and updating, could be transformed into a charming and comfortable residence for years to come. It’s an excellent way to get into the Sechelt market while adding value over time. For those with a larger vision, this is also one of three adjoining properties being offered for sale, creating the potential for an approximately 30,000 sq ft land assembly. Purchase individually, hold as an investment, or explore the possibilities of combining all three for future multi-family, condominium, commercial or 

From listing remarks (Sutton Group-West Coast Realty)

Rating 4 /100

Equity	0/40	-312,834 vs limit (-54.1% of ARV)
Cash flow	0/30	-1,126/mo
Suite-arb	3.9/15	zone permits a suite; other conditions short
Motivation	0.6/15	49d on market, no cuts — anchored seller

Offer case

GREEN at $412,000 — that's $337,000 (45.0%) below the $749,000 ask. Long shot

That discount is 19.1× what this market normally concedes.

EVIDENCE

Coast-wide, homes sell at 97.6% of list — a 2.4% discount is simply normal here.
Asking 135% of assessed value — priced above the roll.
Asking $749/sqft where comparable homes sold at $495/sqft (+51%) — the ask is above the local clearing price.

Support score 0.15 — evidence weight that this seller would entertain the discount. Not a prediction; a checklist with numbers.

The four tests

Equity — FAIL

(price + $40,000 reno + PTT+legal closing) <= 85% x ARV

all-in = $749,000 + $40,000 + $15,480 = $804,480 ARV = $578,407 → limit = 85% × ARV = $491,646 margin = $-312,834 · at band low ($543,054): $-342,884 — GREEN needs this ≥ 0

Rent — PASS

est. rent >= 0.40% x ARV

est. rent = $3,000/mo (whole house (3bd) $3,000) floor = 0.4% × ARV $578,407 = $2,314/mo rents table: Sechelt · as of 2026-08-02

Cash flow — FAIL

rent - carrying >= -800/mo (PM-managed, typical rent, at ask)

payment $3,001 (loan $599,200 @ 4.4%/30y) + tax $368 (mls) + ins $158 + maint $150 + vac $180 + PM $270 carrying = $4,126/mo · rent $3,000 → cash flow = $-1,126/mo (floor $-800)

Suite-arb — FAIL

zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median

zone R-4 suite:yes · sqft 1,000 (min 1,900) suite language: no · $/sqft 749 vs median 471

Scored 2026-10-02T05:55 · thresholds from criteria.yaml

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

Price	$3,000 typical self-managed	$3,000 typical PM	$3,450 high self-managed	$3,450 high PM
$749,000	−$856	−$1,126	−$456	−$766
$711,550 −5.0%	−$706	−$976	−$306	−$616
$685,335 −8.5%	−$601	−$871	−$201	−$511

Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml

Comps & ARV

ARV $578,407 range $543,054 – $732,910 (about half of comparable sales landed inside this band)
median $/sqft of 7 renovated size-matched sales (7 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence medium ($/sqft used: 589)

Cross-check: comps say $589,000, BC Assessment × sale ratio says $553,690 (+6% apart)

Sold	Dist	Sqft	Price	$/sqft	Date	Reno
5750 Spindrift St	0.55 km	1,176	~$556,548	473	2026-05-10	✓
5808 Anchor Rd	0.67 km	1,056	~$780,144	739	2026-02-20	✓
6270 Homestead Ave	2.64 km	1,284	~$756,710	589	2026-01-21	✓
5636 Cascade Cres	2.79 km	1,284	~$721,364	562	2026-07-18	✓
6472 Jasper Rd	3.35 km	1,163	~$750,852	646	2026-07-01	✓
4657 Whitaker Rd	4.65 km	1,104	~$781,022	707	2025-10-08	✓
5625 O'brian Rd	11.86 km	856	~$868,020	1,014	2026-03-06	✓
~ = 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

Seller basis: $350,000, 2016-06-30 — asking +114.0%

2026-08-18	new	749000 first seen at $749,000
2026-08-14	Listed	$749,000 GVR
2016-06-30	Sold (Public Records)	$350,000 Public Records
1999-09-09	Sold (Public Records)	$102,000 Public Records
1989-07-18	Sold (Public Records)	$45,000 Public Records

History: Redfin belowTheFold · fetched 2026-09-27T19:16 · events observed by Coastwatch

Zoning & land

R-4 — Urban Infill Residential suite OK

Sechelt R-4 Urban Infill, one of the post-Bill-44 SSMUH zones. Secondary Suite is a named accessory use, and density is capped by combination rather than lot size: a single-detached dwelling with a secondary suite PLUS two detached accessory dwelling units, or a triplex plus one detached ADU, or a fourplex, or four townhouses, or a four-unit cottage court. FAR 1.5. A detached ADU is capped at 120 m2; a secondary suite has NO floor area cap (s.2.3.1). Confirm servicing capacity. [Bylaw 580 s.1.4.2-1.4.4, s.2.3]

PID	010-591-672
Parcel	5700 PORPOISE BAY RD (Sechelt)
Wastewater	District of Sechelt sewer service
Water	Chapman system
Fire protection	Sechelt FPA

District of Sechelt Zoning Bylaw 580 (gis.sechelt.ca) · fetched 2026-08-18T07:16 · meanings from zoning_rules.yaml (verify before relying)

Assessment

Assessed total	$554,800
Land / improvements	$509,000 / $45,800 (92% land — the higher, the more the value is in the dirt)
Assessed / ask	0.74
BCA folio	570.00073.000

BC Assessment via SCRD parcel layer · fetched 2026-08-18T07:16

Open questions

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