$649,000 GREY

5689 Porpoise Bay Rd, Sechelt
3 bd · 2.0 ba · 1,547 sqft · 7,467 sqft lot · built 1957 · 62 DOM · MLS R3150269
Suite potential (per listing)Ocean view Oil-tank era
Redfin ↗
Listing: Redfin search · fetched 2026-09-27T19:15

Description

Charming, centrally located home offers the convenience of in-town living with a surprisingly private setting. This home is ready for your ideas and updates, presenting a great opportunity to build equity. The main level offers easy entry with a spacious country kitchen, cozy living room, and 2 bedrooms + 2 bathrooms. The full-height walk-out basement is mostly finished and offers excellent suite potential. Ideal as a mortgage helper or extended living space with 1 bedroom. Small inlet views can be enjoyed from the back, with lane access to the yard adding further convenience. Situated on R4 – Urban Infill zoning, this property offers exciting future potential with options for multi-u
From listing remarks (RE/MAX City Realty)

Rating 19 /100

Equity
6.4/40 -49,621 vs limit (-6.5% of ARV)
Cash flow
1.0/30 -755/mo
Suite-arb
10.6/15 zone permits a suite; other conditions short
Motivation
1.2/15 67d on market, no cuts — anchored seller

Offer case

Price can't fix this. rent test — needs 3,072/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.
  • 67 days on market vs a 60-day median — but ZERO price cuts, so this reads as an anchored seller, not a motivated one.
  • 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 — FAIL
(price + $40,000 reno + PTT+legal closing) <= 85% x ARV
all-in = $649,000 + $40,000 + $13,480 = $702,480 ARV = $768,069 → limit = 85% × ARV = $652,859 margin = $-49,621 · at band low ($587,861): $-202,798 — 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 $768,069 = $3,072/mo rents table: Sechelt · as of 2026-08-02
Cash flow — PASS
rent - carrying >= -800/mo (PM-managed, typical rent, at ask)
payment $2,600 (loan $519,200 @ 4.4%/30y) + tax $396 (mls) + ins $158 + maint $150 + vac $180 + PM $270 carrying = $3,755/mo · rent $3,000 → cash flow = $-755/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 1,547 (min 1,900) suite language: no · $/sqft 420 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
$649,000 −$485 −$755 −$84 −$395
$616,550 −5.0% −$355 −$625 +$46 −$265
$593,835 −8.5% −$264 −$534 +$137 −$174
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml

Comps & ARV

ARV $768,069 range $587,861 – $845,773 (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: 542)

Cross-check: comps say $838,474, BC Assessment × sale ratio says $603,790 (+39% apart — disagreement this large triples comp error historically)

SoldDistSqftPrice$/sqftDateReno
5750 Spindrift St 0.5 km1,176 ~$556,548 4732026-05-10✓
5833 Heron Pl 1.12 km1,915 ~$829,842 4332025-11-10✓
6242 Norwest Bay Rd 2.41 km1,707 ~$671,275 3932025-10-19✓
5641 Nickerson Rd 2.56 km1,487 ~$805,530 5422026-03-06✓
5726 Emily Way 2.57 km1,360 ~$729,371 5362026-03-16✓
6270 Homestead Ave 2.57 km1,284 ~$756,710 5892026-01-21✓
6307 Homestead Ave 2.62 km1,403 ~$776,238 5532026-01-24✓
5636 Cascade Cres 2.72 km1,284 ~$721,364 5622026-07-18✓
~ = 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: $630,000, 2021-07-21 — asking +3.0%

2026-08-03new 649000 first seen at $649,000
2026-07-27Listed $649,000 GVR
2021-07-21Sold (Public Records) $630,000 Public Records
2021-06-09Listed $669,000 GVR
2015-06-23Sold (Public Records) $278,000 Public Records
2004-08-31Sold (Public Records) $229,000 Public Records
2004-05-01Listed $239,900 GVR
1993-07-30Sold (Public Records) $82,750 Public Records
History: Redfin belowTheFold · fetched 2026-09-27T19:45 · 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]

PID009-990-909
Parcel5689 PORPOISE BAY RD (Sechelt)
WastewaterDistrict of Sechelt sewer service
WaterChapman system
Fire protectionSechelt FPA
District of Sechelt Zoning Bylaw 580 (gis.sechelt.ca) · fetched 2026-08-03T05:42 · meanings from zoning_rules.yaml (verify before relying)

Assessment

Assessed total$605,000
Land / improvements $475,000 / $130,000 (78% land — the higher, the more the value is in the dirt)
Assessed / ask 0.93
BCA folio570.00083.000
BC Assessment via SCRD parcel layer · fetched 2026-08-03T05:55

Open questions

  • Built 1957 — oil-tank era. Ask for a tank scan or decommissioning certificate.
  • 62 days on market — ask the listing agent why it hasn't moved.

Notes