$749,000 GREY

5694 Wharf Ave, Sechelt

1 bd · 1.0 ba · 640 sqft · 16,600 sqft lot · 18 DOM · MLS R3163087

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 13,000 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 45 /100

Equity	40.0/40	+140,277 vs limit (+12.6% of ARV)
Cash flow	0/30	-1,733/mo
Suite-arb	2.5/15	zone permits a suite; other conditions short
Motivation	2.2/15	23d on market, no cuts — anchored seller, asking 168% of assessed

Offer case

Price can't fix this. rent test — needs 4,446/mo vs 2,460 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 23 days on market — too fresh for a big discount.
Asking only 168% of assessed value — a genuine discount to the roll, not the usual 1-2%.
Asking $1,170/sqft where comparable homes sold at $495/sqft (+137%) — the ask is above the local clearing price.
ARV confidence is LOW (thin or unrenovated comps) — the target price below could be off by 10%+ in either direction.

Support score 0.15 — 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 = $749,000 + $40,000 + $15,480 = $804,480 ARV = $1,111,479 → limit = 85% × ARV = $944,757 margin = $140,277 · at band low ($598,365): $-295,870 — GREEN needs this ≥ 0

Rent — FAIL

est. rent >= 0.40% x ARV

est. rent = $2,460/mo (whole house (1bd) $2,460) floor = 0.4% × ARV $1,111,479 = $4,446/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 $542 (mls) + ins $158 + maint $123 + vac $148 + PM $221 carrying = $4,193/mo · rent $2,460 → cash flow = $-1,733/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 640 (min 1,900) suite language: no · $/sqft 1,170 vs median 471

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

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

Price	$2,460 typical self-managed	$2,460 typical PM	$2,829 high self-managed	$2,829 high PM
$749,000	−$1,512	−$1,733	−$1,183	−$1,438
$711,550 −5.0%	−$1,362	−$1,583	−$1,033	−$1,288
$685,335 −8.5%	−$1,257	−$1,478	−$928	−$1,183

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

Comps & ARV

ARV $1,111,479 range $598,365 – $1,303,333 (about half of comparable sales landed inside this band)
median $/sqft of 9 nearest size-matched sales × 101% paired reno premium (9 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence low ($/sqft used: 1,626)

Cross-check: comps say $1,051,046, BC Assessment × sale ratio says $1,252,490 (-16% apart)

Sold	Dist	Sqft	Price	$/sqft	Date
5699 Trident Ave	0.1 km	801	~$532,138	664	2026-02-11
6121 Golf Course Rd	2.05 km	782	~$1,463,624	1,872	2026-03-13
6815 Sandy Hook Trail	4.71 km	767	~$975,424	1,272	2026-01-20
6075 Coracle Dr	4.95 km	713	~$1,170,704	1,642	2026-07-08
8622 Merrry Island Espl	11.06 km	782	~$1,903,980	2,435	2026-05-14
980 Woodley Rd	11.81 km	800	~$659,070	824	2025-11-06
394 Pratt Rd	18.92 km	600	~$975,424	1,626	2026-04-02
619 Marine Dr	20.09 km	670	~$682,504	1,019	2025-12-18
~ = 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%

2026-09-09	new	749000 first seen at $749,000
2026-09-09	Listed	$749,000 GVR
2016-06-30	Sold (Public Records)	$350,000 Public Records
2016-03-16	Listed	$379,900 GVR
1999-06-16	Sold (Public Records)	$94,000 Public Records
1989-02-15	Sold (Public Records)	$41,000 Public Records

History: Redfin belowTheFold · fetched 2026-09-27T19:15 · 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	008-102-473
Parcel	5694 WHARF AVE (Sechelt)
Wastewater	District of Sechelt sewer service
Water	Chapman system
Fire protection	Sechelt FPA

District of Sechelt Zoning Bylaw 580 (gis.sechelt.ca) · fetched 2026-09-09T19:16 · meanings from zoning_rules.yaml (verify before relying)

Assessment

Assessed total	$1,255,000
Land / improvements	$1,245,000 / $10,000 (99% land — the higher, the more the value is in the dirt)
Assessed / ask	1.68 asking under assessment
BCA folio	570.00074.000

BC Assessment via SCRD parcel layer · fetched 2026-09-09T19:16

Open questions

None generated.