$719,000 GREY
5724 Porpoise Bay Rd, Sechelt
2 bd · 1.0 ba · 1,832 sqft
· 17,385 sqft lot
· built 1948
· 10 DOM · MLS R3149847
Suite potential (per listing)
Oil-tank era
Listing: Redfin search · fetched 2026-08-03T07:15
Description
Great Investment Opportunity or Starter Home in Downtown Sechelt in an R4 zone which allows for a duplex with secondary suites in each unit plus an auxiliary dwelling. The OCP allows for even more density. Charming 2 be bed, 1 bath character bungalow with full basement. The large 0.4 acre level fully fenced property plenty of room to grow veggies. Beautiful stone fireplace, corner windows, hardwood floors plus a full basement with separate entry. Very private yard in a central location. Walking distance to stores, restaurants, Sechelt marina with float access to the city & beach access. Bathroom partly renovated in 2022, newer roof and many more improvements done from 2008-2017, full
From listing remarks (RE/MAX City Realty)
Rating 37 /100
| Equity | 23.0/40 | +24,902 vs limit (+2.6% of ARV) | |
| Cash flow | 0/30 | -1,490/mo | |
| Suite-arb | 11.7/15 | zone permits a suite; other conditions short | |
| Motivation | 2.2/15 | 10d on market, 1 relist(s) |
Offer case
Price can't fix this. rent test — needs 3,759/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 10 days on market — too fresh for a big discount.
- 1 previous failed listing(s) — this seller has been here before.
- 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 = $719,000 + $40,000 + $14,880 = $773,880
ARV = $939,743 → limit = 85% × ARV = $798,782
margin = $24,902
Rent — FAIL
est. rent >= 0.40% x ARV
est. rent = $2,460/mo (whole house (2bd) $2,460)
floor = 0.4% × ARV $939,743 = $3,759/mo
rents table: Sechelt · as of 2026-08-02
Cash flow — FAIL
rent - carrying >= -800/mo (PM-managed, typical rent, at ask)
payment $2,880 (loan $575,200 @ 4.4%/30y)
+ tax $419 (mls) + ins $158 + maint $123 + vac $148 + PM $221
carrying = $3,950/mo · rent $2,460 → cash flow = $-1,490/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 1,832 (min 1,900)
suite language: no · $/sqft 392 vs median 489
Scored 2026-08-03T08:53 · 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 |
|---|---|---|---|---|
| $719,000 | −$1,268 | −$1,490 | −$940 | −$1,194 |
| $683,050 −5.0% | −$1,124 | −$1,346 | −$796 | −$1,050 |
| $657,885 −8.5% | −$1,023 | −$1,245 | −$695 | −$950 |
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml
Comps & ARV
ARV $939,743 — median $/sqft of 17 size-matched comps x 112% reno uplift (only 2 renovated comps found) · confidence low ($/sqft used: 458)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5799 Anchor Rd | 0.7 km | 1,656 | ~$517,182 | 312 | 2026-04-20 | |
| 5809 Anchor Rd | 0.74 km | 1,490 | ~$682,224 | 458 | 2026-02-06 | |
| 5628 Medusa Pl | 0.91 km | 2,353 | ~$1,072,624 | 456 | 2026-03-24 | |
| 5754 Binnacle Ave | 1.1 km | 2,347 | ~$487,024 | 208 | 2026-04-24 | |
| 5883 Spray St | 1.27 km | 2,243 | ~$1,463,024 | 652 | 2025-09-05 | |
| 5457 Burley Pl | 1.29 km | 2,090 | ~$902,799 | 432 | 2026-02-02 | |
| 6114 S Gale Ave | 2.01 km | 1,418 | ~$683,005 | 482 | 2025-11-07 | |
| 6231 Kevins Rd | 2.44 km | 1,349 | ~$721,264 | 535 | 2026-03-05 | |
| ~ = 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: $700,000, 2021-08-16 — asking +2.7%
| 2026-08-03 | new | 719000 first seen at $719,000 |
| 2026-07-24 | Listed | $719,000 GVR |
| 2024-10-22 | Listed | $733,900 GVR |
| 2021-08-16 | Sold (Public Records) | $700,000 Public Records |
| 2021-04-23 | Listed | $599,900 GVR |
| 2009-08-06 | Sold (Public Records) | $245,000 Public Records |
| 2006-07-13 | Sold (Public Records) | $246,000 Public Records |
| 2006-04-20 | Listed | $249,000 GVR |
History: Redfin belowTheFold · fetched 2026-08-03T07:15
· 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 | 010-591-648 |
|---|---|
| Parcel | 5724 PORPOISE BAY RD (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 | $662,000 |
|---|---|
| Land / improvements | $523,000 / $139,000 (79% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 0.92 |
| BCA folio | 570.00070.000 |
BC Assessment via SCRD parcel layer · fetched 2026-08-03T05:55
Open questions
- Built 1948 — oil-tank era. Ask for a tank scan or decommissioning certificate.