$645,000 GREY

5605 Ocean Ave, Sechelt

2 bd · 2.0 ba · 1,264 sqft · 6,000 sqft lot · built 1977 · 18 DOM · MLS R3147177

Oil-tank era

Redfin ↗

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

Description

Charming rancher on a flat, sunny lot just a short walk to downtown, the beach, recreation centre, and shopping. Whether you're looking for an investment property, a comfortable retirement home, or a place to raise a family, this home offers exceptional versatility. Offering 2 bedrooms plus a large den that could easily be a third bedroom or home office, with its own exterior entrance—ideal for a home-based business. There is a large utility room great for extra storage! The fully fenced yard features a greenhouse, plenty of space to garden, and room for kids or pets to play. Large windows provide abundant natural light, while newer windows and roof add peace of mind. Move in and enjo

From listing remarks (RE/MAX Oceanview Realty)

Rating 5 /100

Equity	0/40	-105,331 vs limit (-15.1% of ARV)
Cash flow	0/30	-1,188/mo
Suite-arb	5.0/15	zone permits a suite; other conditions short
Motivation	0.0/15	18d on market, no cuts — anchored seller

Offer case

Price can't fix this. rent test — needs 2,791/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 97.5% of list — a 2.5% discount is simply normal here.
Only 18 days on market — too fresh for a big discount.

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 = $645,000 + $40,000 + $13,400 = $698,400 ARV = $697,728 → limit = 85% × ARV = $593,069 margin = $-105,331

Rent — FAIL

est. rent >= 0.40% x ARV

est. rent = $2,460/mo (whole house (2bd) $2,460) floor = 0.4% × ARV $697,728 = $2,791/mo rents table: Sechelt · as of 2026-08-02

Cash flow — FAIL

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

payment $2,584 (loan $516,000 @ 4.4%/30y) + tax $414 (mls) + ins $158 + maint $123 + vac $148 + PM $221 carrying = $3,648/mo · rent $2,460 → cash flow = $-1,188/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 1,264 (min 1,900) suite language: no · $/sqft 510 vs median 489

Scored 2026-08-03T09:00 · 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
$645,000	−$967	−$1,188	−$638	−$893
$612,750 −5.0%	−$838	−$1,059	−$509	−$764
$590,175 −8.5%	−$747	−$969	−$419	−$673

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

Comps & ARV

ARV $697,728 — median $/sqft of 5 renovated sales within 3.0km (5 priced from list x measured sale ratio — registration lag) · confidence medium ($/sqft used: 552)

Sold	Dist	Sqft	Price	$/sqft	Date	Reno
5750 Spindrift St	0.18 km	1,176	~$555,636	472	2026-05-10	✓
5808 Anchor Rd	0.55 km	1,056	~$778,865	738	2026-02-20	✓
5641 Nickerson Rd	2.04 km	1,487	~$804,210	541	2026-03-06	✓
6307 Homestead Ave	2.1 km	1,403	~$774,966	552	2026-01-24	✓
5592 Curtis Pl	2.47 km	1,358	~$972,850	716	2025-11-14	✓
~ = final list price used as sale proxy (BC title registration lags ~6-12 mo)

Solds from Redfin sold-search + public-records sale prices (belowTheFold)

Price & sale history

Seller basis: $775,000, 2022-02-28 — asking -16.8%

2026-08-03	new	645000 first seen at $645,000
2026-07-16	Listed	$645,000 GVR
2022-02-28	Sold (Public Records)	$775,000 Public Records
2022-01-17	Listed	$799,000 GVR
2016-05-30	Sold (Public Records)	$319,900 Public Records
2016-03-08	Listed	$319,900 GVR
2012-06-30	Listed	$299,000 GVR
2009-09-04	Sold (Public Records)	$300,000 Public Records
2008-05-24	Listed	$309,000 GVR
2005-11-02	Sold (Public Records)	$200,000 Public Records

History: Redfin belowTheFold · fetched 2026-08-03T07:15 · 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]

PID	004-392-698
Parcel	5605 OCEAN 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 2026-08-03T05:43 · meanings from zoning_rules.yaml (verify before relying)

Assessment

Assessed total	$637,000
Land / improvements	$481,000 / $156,000 (76% land — the higher, the more the value is in the dirt)
Assessed / ask	0.99
BCA folio	570.00096.600

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

Open questions

Built 1977 — oil-tank era. Ask for a tank scan or decommissioning certificate.