$753,500 GREY

5692 Louise Way, West Sechelt

3 bd · 2.0 ba · 1,312 sqft · 5,383 sqft lot · built 2006 · 37 DOM · MLS R3157944

Redfin ↗

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

Description

Welcome to this charming one-level home, where comfort, warmth, and pride of ownership shine throughout. Cute and cozy from the minute you arrive, this lovingly cared-for property has been immaculately maintained and is truly move-in ready. The thoughtfully designed single-level layout offers easy, comfortable living with everything conveniently on one floor. Bright and inviting living spaces create a welcoming atmosphere. Simple-to-maintain outside spaces contribute to the wonderful flow, plus a level driveway, a rarity in the neighbourhood. There is also a small view to the ocean from the backyard. and a professionally landscaped front yard

From listing remarks (RE/MAX Oceanview Realty)

Rating 9 /100

Equity	0/40	-162,732 vs limit (-21.4% of ARV)
Cash flow	0/30	-1,233/mo
Suite-arb	5.2/15	zone permits a suite; other conditions short
Motivation	3.6/15	45d on market, 1 cut(s)

Offer case

Price can't fix this. rent test — needs 3,042/mo vs 3,000 estimated. Price cannot fix this; only higher rent (a suite) or a lower ARV would.

EVIDENCE

Coast-wide, homes sell at 97.6% of list — a 2.4% discount is simply normal here.
1 price cut(s) already — the seller has shown they will move.
Asking $574/sqft where comparable homes sold at $495/sqft (+16%) — the ask is above the local clearing price.

Support score 0.5 — 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 = $753,500 + $40,000 + $15,570 = $809,070 ARV = $760,398 → limit = 85% × ARV = $646,338 margin = $-162,732 · at band low ($688,689): $-223,684 — GREEN needs this ≥ 0

Rent — FAIL

est. rent >= 0.40% x ARV

est. rent = $3,000/mo (whole house (3bd) $3,000) floor = 0.4% × ARV $760,398 = $3,042/mo rents table: Sechelt · as of 2026-08-02

Cash flow — FAIL

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

payment $3,019 (loan $602,800 @ 4.4%/30y) + tax $456 (mls) + ins $158 + maint $150 + vac $180 + PM $270 carrying = $4,233/mo · rent $3,000 → cash flow = $-1,233/mo (floor $-800)

Suite-arb — FAIL

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

zone R-3 suite:yes · sqft 1,312 (min 1,900) suite language: no · $/sqft 574 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
$753,500	−$963	−$1,233	−$562	−$873
$715,825 −5.0%	−$812	−$1,082	−$411	−$722
$689,452 −8.5%	−$706	−$976	−$306	−$616

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

Comps & ARV

ARV $760,398 range $688,689 – $940,433 (about half of comparable sales landed inside this band)
median $/sqft of 11 renovated size-matched sales (11 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence medium ($/sqft used: 589)

Cross-check: comps say $772,768, BC Assessment × sale ratio says $731,534 (+6% apart)

Sold	Dist	Sqft	Price	$/sqft	Date	Reno
5726 Emily Way	0.09 km	1,360	~$729,371	536	2026-03-16	✓
6270 Homestead Ave	0.24 km	1,284	~$756,710	589	2026-01-21	✓
5641 Nickerson Rd	0.32 km	1,487	~$805,530	542	2026-03-06	✓
6307 Homestead Ave	0.33 km	1,403	~$776,238	553	2026-01-24	✓
5636 Cascade Cres	0.34 km	1,284	~$721,364	562	2026-07-18	✓
5592 Curtis Pl	0.54 km	1,358	~$974,447	718	2025-11-14	✓
6472 Jasper Rd	0.95 km	1,163	~$750,852	646	2026-07-01	✓
5808 Anchor Rd	2.09 km	1,056	~$780,144	739	2026-02-20	✓
~ = 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: $335,000, 2007-05-03 — asking +124.9%

2026-09-12	price_cut	768500 → 753500 -2.0%
2026-08-22	new	768500 first seen at $768,500
2026-09-11	Price Changed	$753,500 GVR
2026-08-18	Listed	$768,500 GVR
2007-05-03	Sold (Public Records)	$335,000 Public Records
2007-04-09	Listed	$339,000 GVR
2007-03-30	Sold (Public Records)	$318,663 Public Records

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

Zoning & land

R-3 — Small Lot Residential suite OK

Areas B/D/E/F: single-unit dwelling with a restricted second storey. Density is capped at one dwelling per parcel, but s.5.24.4 excludes secondary suites from that count, so a suite still works (wastewater carve-out aside). No auxiliary dwelling unit here. Area A: residential with auxiliary commercial — over 2000 m2 gets a duplex second unit OR one auxiliary dwelling unit. Sechelt R-3: SSMUH small-lot zone, suite plus up to 4 units. [Bylaw 722.9 s.7.3.2-7.3.3, s.5.24.4; Bylaw 337 s.621.1; Bylaw 580 s.1.3.2-1.3.4]

PID	026-899-949
Parcel	5692 LOUISE WAY (Sechelt)
Wastewater	District of Sechelt sewer service
Water	Chapman system
Fire protection	Sechelt FPA

District of Sechelt Zoning Bylaw 580 (gis.sechelt.ca) · fetched 2026-08-22T07:16 · meanings from zoning_rules.yaml (verify before relying)

Assessment

Assessed total	$733,000
Land / improvements	$451,000 / $282,000 (62% land — the higher, the more the value is in the dirt)
Assessed / ask	0.97
BCA folio	570.06421.153

BC Assessment via SCRD parcel layer · fetched 2026-08-22T07:16

Open questions

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