$647,500 GREY

5987 Harbour Way, Sechelt

2 bd · 2.0 ba · 1,440 sqft · 12,320 sqft lot · built 1990 · 10 DOM · MLS R3149744

Ocean view

Redfin ↗

Listing: Redfin search · fetched 2026-08-03T07:15

Description

Immaculate, fully renovated 2 bdrm/ 2 bath + large family room (3rd bedroom?) Rancher on a sun drenched 0.28 acre property, just mins to Downtown Sechelt  &  the Golf Course. New roof + $110,000 in recent renovations with a gorgeous kitchen, formal living room with natural gas fireplace, dining room + eating area  &  a spacious primary bedroom with spa like ensuite. Forced air n'gas furnace, heat pump w/ A/C, storage sheds, carport, RV parking  &  EV plug in. Enjoy some ocean view from the lovely patio, perfect for relaxing  &  entertaining with friends, or meander through the low-maintenance gardens with a stunning Cherry tree  &  mature hedging. The sought after corner

From listing remarks (Royal LePage Sussex)

The four tests

Equity — FAIL

(price + $40,000 reno + $5,000 closing) <= 85% x ARV

all-in = $647,500 + $40,000 + $5,000 = $692,500 ARV = $776,880 → limit = 85% × ARV = $660,348 margin = $-32,152

Rent — FAIL

est. rent >= 0.40% x ARV

est. rent = $2,460/mo (whole house (2bd) $2,460) floor = 0.4% × ARV $776,880 = $3,108/mo rents table: Sechelt · as of 2026-08-02

Cash flow — FAIL

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

payment $2,594 (loan $518,000 @ 4.4%/30y) + tax $460 (mls) + ins $158 + maint $123 + vac $148 + PM $221 carrying = $3,704/mo · rent $2,460 → cash flow = $-1,244/mo (floor $-800)

Suite-arb — FAIL

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

zone R-2 suite:yes · sqft 1,440 (min 1,900) suite language: no · $/sqft 450 vs median 489

Scored 2026-08-03T06:55 · 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
$647,500	−$1,023	−$1,244	−$694	−$949
$615,125 −5.0%	−$893	−$1,114	−$564	−$819
$592,462 −8.5%	−$802	−$1,023	−$474	−$728

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

Comps & ARV

ARV $776,880
median $/sqft of 4 renovated solds within 3.0km (4 priced from final list — registration lag) · confidence medium ($/sqft used: 540)

Sold	Dist	Sqft	Price	$/sqft	Date	Reno
5726 Emily Way	2.17 km	1,360	~$730,342	537	2026-03-16	✓
5641 Nickerson Rd	2.42 km	1,487	~$806,602	542	2026-03-06	✓
6307 Homestead Ave	2.47 km	1,403	~$777,272	554	2026-01-24	✓
6242 Norwest Bay Rd	2.79 km	1,707	~$672,169	394	2025-10-19	✓
~ = 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

2026-08-03	new	647500 first seen at $647,500
2026-07-24	Listed	$647,500 GVR
2023-04-05	Price Changed	$689,999 GVR
2023-03-10	Listed	$734,500 GVR
2014-01-03	Listed	$309,000 GVR
2008-05-11	Listed	$355,000 GVR

History: Redfin belowTheFold · fetched 2026-08-03T05:41 · 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]

PID	005-952-221
Parcel	5987 HARBOUR 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 2026-08-03T05:43 · meanings from zoning_rules.yaml (verify before relying)

Assessment

Assessed total	$865,000
Land / improvements	$537,000 / $328,000 (62% land — the higher, the more the value is in the dirt)
Assessed / ask	1.34 asking under assessment
BCA folio	570.00334.614

BC Assessment via SCRD parcel layer · fetched 2026-08-03T05:55

Open questions

None generated.