$779,000 GREY SUITE-ARB
5803 Marine Way, Sechelt
4 bd · 3.0 ba · 2,582 sqft
· 8,370 sqft lot
· built 1998
· 17 DOM · MLS R3164165
Septic / well
Listing: Redfin search · fetched 2026-09-27T19:15
Description
Great locaton! Close to the golf course, marina, schools and downtown Sechelt! This 4 bedroom, 3 full bath property has lots of space for everyone. Not only a large open living room/dining room with high ceilings, but a large family room as well! The kitchen has a gas stove, large double fridge with ice maker, dishwasher, tons of cupboard space, kitchen nook and leads onto the deck. Off the entry is a large library/office with an electric fireplace. The double car garage with high ceilings is great for cars, boats, or workshop. Book a showing with your agent today!
From listing remarks (RE/MAX Oceanview Realty)
Rating 38 /100
| Equity | 22.6/40 | +24,309 vs limit (+2.4% of ARV) | |
| Cash flow | 0/30 | -1,044/mo | |
| Suite-arb | 15.0/15 | add-a-suite opportunity, unpriced | |
| Motivation | 0.0/15 | 22d on market, no cuts — anchored seller |
Offer case
Price can't fix this. rent test — needs 4,044/mo vs 3,400 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.
- Only 22 days on market — too fresh for a big discount.
- Already asking below the $495/sqft local sold level — little room to push.
- ARV confidence is LOW (thin or unrenovated comps) — the target price below could be off by 10%+ in either direction.
Support score 0.0 — 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 = $779,000 + $40,000 + $16,080 = $835,080
ARV = $1,011,046 → limit = 85% × ARV = $859,389
margin = $24,309 · at band low ($761,474): $-187,827 — GREEN needs this ≥ 0
Rent — FAIL
est. rent >= 0.40% x ARV
est. rent = $3,400/mo (whole house (4bd) $3,400)
floor = 0.4% × ARV $1,011,046 = $4,044/mo
rents table: Sechelt · as of 2026-08-02
Cash flow — FAIL
rent - carrying >= -800/mo (PM-managed, typical rent, at ask)
payment $3,121 (loan $623,200 @ 4.4%/30y)
+ tax $485 (mls) + ins $158 + maint $170 + vac $204 + PM $306
carrying = $4,444/mo · rent $3,400 → cash flow = $-1,044/mo (floor $-800)
Suite-arb — PASS
zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median
zone R-2 suite:yes · sqft 2,582 (min 1,900)
suite language: no · $/sqft 302 vs median 471
Scored 2026-10-02T05:55 · thresholds from criteria.yaml
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $3,400 typical self-managed |
$3,400 typical PM |
$3,900 high self-managed |
$3,900 high PM |
|---|---|---|---|---|
| $779,000 | −$738 | −$1,044 | −$293 | −$644 |
| $740,050 −5.0% | −$582 | −$888 | −$137 | −$488 |
| $712,785 −8.5% | −$473 | −$779 | −$28 | −$379 |
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml
Comps & ARV
ARV $1,011,046
range $761,474 – $1,267,115
(about half of comparable sales landed inside this band)
median $/sqft of 12 renovated size-matched sales (12 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence low
($/sqft used: 433)
Cross-check: comps say $1,118,006, BC Assessment × sale ratio says $761,474 (+47% apart — disagreement this large triples comp error historically)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5833 Heron Pl | 0.3 km | 1,915 | ~$829,842 | 433 | 2025-11-10 | ✓ |
| 6355 Baillie Rd | 1.69 km | 2,288 | ~$1,220,500 | 533 | 2026-01-22 | ✓ |
| 5656 Cook Pl | 2.23 km | 2,330 | ~$876,807 | 376 | 2026-05-19 | ✓ |
| 4967 Laurel Ave | 4.3 km | 2,039 | ~$820,078 | 402 | 2026-02-23 | ✓ |
| 7462 Redrooffs Rd | 6.67 km | 2,851 | ~$828,964 | 291 | 2025-10-23 | ✓ |
| 8362 Redrooffs Rd | 9.88 km | 2,140 | ~$1,049,630 | 490 | 2026-02-09 | ✓ |
| 5549 Sans Souci Rd | 14.69 km | 2,205 | ~$809,436 | 367 | 2026-04-03 | ✓ |
| 962 Cemetery Rd | 18.98 km | 1,916 | ~$1,049,630 | 548 | 2025-11-28 | ✓ |
| ~ = 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: $343,000, 2011-06-17 — asking +127.1%
| 2026-09-11 | relist | time-on-market reset — relisted |
| 2026-09-09 | delisted | absent from search results |
| 2026-09-05 | new | 779000 first seen at $779,000 |
| 2026-09-10 | Listed | $779,000 GVR |
| 2011-06-17 | Sold (Public Records) | $343,000 Public Records |
| 2011-04-12 | Listed | $349,500 GVR |
| 2004-03-08 | Listed | $235,000 GVR |
History: Redfin belowTheFold · fetched 2026-09-27T19:15
· events observed by Coastwatch
Zoning & land
R-2 — Low Density Residential 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]
- Rocky Beach Front, Escarpments and Slope Hazards — Steep-slope DPA: a geotechnical engineer's report is required for foundation work. This is the one that most often kills a lower-level suite excavation.
- Slope greater than 20% to 30% — Steep-slope DPA: a geotechnical engineer's report is required for foundation work. This is the one that most often kills a lower-level suite excavation.
- Slope greater than 30% — Steep-slope DPA: a geotechnical engineer's report is required for foundation work. This is the one that most often kills a lower-level suite excavation.
| PID | 019-091-079 |
|---|---|
| Parcel | 5803 MARINE 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 2026-09-05T07:16 · meanings from zoning_rules.yaml (verify before relying)
Assessment
| Assessed total | $763,000 |
|---|---|
| Land / improvements | $456,000 / $307,000 (60% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 0.98 |
| BCA folio | 570.00323.143 |
BC Assessment via SCRD parcel layer · fetched 2026-09-05T07:16
Open questions
- Confirm suite legality with the planning department — zone says yes, verify parcel specifics (parking, servicing, floor-area cap).
- Septic/well: age, last pump-out, and any permits on file? Get the well log and water potability test.
- Rocky Beach Front, Escarpments and Slope Hazards: Steep-slope DPA: a geotechnical engineer's report is required for foundation work. This is the one that most often kills a lower-level suite excavation.
- Slope greater than 20% to 30%: Steep-slope DPA: a geotechnical engineer's report is required for foundation work. This is the one that most often kills a lower-level suite excavation.
- Slope greater than 30%: Steep-slope DPA: a geotechnical engineer's report is required for foundation work. This is the one that most often kills a lower-level suite excavation.