$799,000 GREY
5160 Ridgeview Dr, Selma Park
3 bd · 2.0 ba · 2,288 sqft
· 11,326 sqft lot
· built 1989
· 57 DOM · MLS R3140110
Ocean viewSeptic / well
Listing: Redfin search · fetched 2026-08-21T19:15
Description
Enjoy exceptional sunsets, privacy and magnificent panoramic ocean views from this well-maintained 2,200 sq ft rancher on a low-maintenance southern exposure property in Davis Bay. Expansive windows fill the open-plan living space with natural light and frame the stunning coastal outlook. Designed with comfort in mind, the home features 3 bedrooms and 2 bathrooms, along with a 5-foot hallway for ease of mobility. Additional highlights include a bright solarium, a cozy brick fireplace, a dedicated office/craft space, and a functional layout ready for your personal touch. The kitchen offers custom pull-out oak cabinetry, and there’s a workshop for hobbies or storage. A fantastic opportu
From listing remarks (Royal LePage Sussex)
Rating 23 /100
| Equity | 19.5/40 | +7,444 vs limit (+0.7% of ARV) | |
| Cash flow | 0/30 | -1,402/mo | |
| Suite-arb | 0.0/15 | no suite path | |
| Motivation | 3.9/15 | 57d on market, 1 cut(s) |
Offer case
Price can't fix this. rent test — needs 4,061/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.
- Already asking below the $499/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 = $799,000 + $40,000 + $16,480 = $855,480
ARV = $1,015,205 → limit = 85% × ARV = $862,924
margin = $7,444 · at band low ($765,144): $-205,108 — 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 $1,015,205 = $4,061/mo
rents table: Sechelt · as of 2026-08-02
Cash flow — FAIL
rent - carrying >= -800/mo (PM-managed, typical rent, at ask)
payment $3,201 (loan $639,200 @ 4.4%/30y)
+ tax $443 (mls) + ins $158 + maint $150 + vac $180 + PM $270
carrying = $4,402/mo · rent $3,000 → cash flow = $-1,402/mo (floor $-800)
Suite-arb — FAIL
zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median
zone ? suite:no · sqft 2,288 (min 1,900)
suite language: no · $/sqft 349 vs median 494
Scored 2026-08-21T07:16 · 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 |
|---|---|---|---|---|
| $799,000 | −$1,132 | −$1,402 | −$732 | −$1,042 |
| $759,050 −5.0% | −$972 | −$1,242 | −$572 | −$882 |
| $731,085 −8.5% | −$860 | −$1,130 | −$460 | −$770 |
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml
Comps & ARV
ARV $1,015,205
range $765,144 – $1,161,705
(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: 475)
Cross-check: comps say $1,086,800, BC Assessment × sale ratio says $848,151 (+28% apart — disagreement this large triples comp error historically)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 4967 Laurel Ave | 0.17 km | 2,039 | ~$820,078 | 402 | 2026-02-23 | ✓ |
| 6242 Norwest Bay Rd | 4.76 km | 1,707 | ~$671,275 | 393 | 2025-10-19 | ✓ |
| 6355 Baillie Rd | 4.96 km | 2,288 | ~$1,220,500 | 533 | 2026-01-22 | ✓ |
| 5656 Cook Pl | 5.51 km | 2,330 | ~$876,807 | 376 | 2026-05-19 | ✓ |
| 7462 Redrooffs Rd | 9.89 km | 2,851 | ~$828,964 | 291 | 2025-10-23 | ✓ |
| 7955 Connor Rd | 11.11 km | 1,746 | ~$828,964 | 475 | 2025-09-16 | ✓ |
| 962 Cemetery Rd | 15.32 km | 1,916 | ~$1,049,630 | 548 | 2025-11-28 | ✓ |
| 9196 Truman Rd | 15.89 km | 2,139 | ~$1,318,140 | 616 | 2025-09-03 | ✓ |
| ~ = 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: $485,000, 2008-01-17 — asking +64.7%
| 2026-08-21 | delisted | absent from search results |
| 2026-08-11 | price_cut | 825000 → 799000 -3.2% |
| 2026-08-03 | new | 825000 first seen at $825,000 |
| 2026-08-10 | Price Changed | $799,000 GVR |
| 2026-07-15 | Price Changed | $825,000 GVR |
| 2026-06-25 | Listed | $849,000 GVR |
| 2008-01-17 | Sold (Public Records) | $485,000 Public Records |
| 2007-08-14 | Listed | $499,000 GVR |
| 2006-12-21 | Sold (Public Records) | $450,000 Public Records |
| 2006-09-20 | Listed | $475,000 GVR |
History: Redfin belowTheFold · fetched 2026-08-21T13:16
· events observed by Coastwatch
Zoning & land
Unknown zone no suite / unknown
Zone not recognised. Check the bylaw before assuming anything.
| Wastewater | District of Sechelt sewer service |
|---|---|
| Water | Chapman system |
| Fire protection | Sechelt FPA |
— · fetched 2026-08-11T07:16 · meanings from zoning_rules.yaml (verify before relying)
Assessment
| Assessed total | $849,000 |
|---|---|
| Land / improvements | $596,000 / $253,000 (70% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.06 asking under assessment |
| BCA folio | 570.03388.037 |
BC Assessment via SCRD parcel layer · fetched 2026-08-11T07:16
Open questions
- Septic/well: age, last pump-out, and any permits on file? Get the well log and water potability test.
- Zone None isn't in my rules file — read the bylaw and add it to zoning_rules.yaml.
- 57 days on market — ask the listing agent why it hasn't moved.