$799,000 GREY SUITE-ARB
5309 Cedarview Pl, Selma Park
3 bd · 3.0 ba · 2,240 sqft
· 9,170 sqft lot
· built 1992
· 27 DOM · MLS R3143438
Listing: Redfin search · fetched 2026-08-03T07:15
Description
A meticulously maintained, level-entry rancher with a one bedroom suite below. This bright, open-concept home boasts a spacious living room with gleaming maple hardwood floors, a cozy natural gas fireplace, and charming bay windows. The main floor includes a generous primary bedroom complete with a full ensuite and walk-in closet. Step out from the dining area onto a large, covered deck which overlooks landscaped gardens featuring mature fruit trees, flowering shrubs, and lawn. The fully finished lower level offers a versatile one-bedroom plus den suite, ideal for guests, rental income, or extended family living. This move-in ready home offers outstanding curb appeal and a fantastic locatio
From listing remarks (RE/MAX Oceanview Realty)
Rating 36 /100
| Equity | 18.5/40 | +1,777 vs limit (+0.2% of ARV) | |
| Cash flow | 0/30 | -1,416/mo | |
| Suite-arb | 15.0/15 | add-a-suite opportunity, unpriced | |
| Motivation | 2.2/15 | 28d on market, 1 relist(s) |
Offer case
Price can't fix this. rent test — needs 4,034/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.
- Only 28 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 = $799,000 + $40,000 + $16,480 = $855,480
ARV = $1,008,538 → limit = 85% × ARV = $857,257
margin = $1,777
Rent — FAIL
est. rent >= 0.40% x ARV
est. rent = $3,000/mo (whole house (3bd) $3,000)
floor = 0.4% × ARV $1,008,538 = $4,034/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 $457 (mls) + ins $158 + maint $150 + vac $180 + PM $270
carrying = $4,416/mo · rent $3,000 → cash flow = $-1,416/mo (floor $-800)
Suite-arb — PASS
zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median
zone R-1 suite:yes · sqft 2,240 (min 1,900)
suite language: no · $/sqft 357 vs median 489
Scored 2026-08-03T08:53 · 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 | −$1,146 | −$1,416 | −$745 | −$1,056 |
| $759,050 −5.0% | −$986 | −$1,256 | −$585 | −$896 |
| $731,085 −8.5% | −$874 | −$1,144 | −$473 | −$784 |
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml
Comps & ARV
ARV $1,008,538 — median $/sqft of 7 size-matched comps x 112% reno uplift (only 1 renovated comps found) · confidence low ($/sqft used: 402)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5201 Havies Rd | 1.19 km | 1,697 | ~$1,244,400 | 733 | 2026-05-11 | |
| 4967 Laurel Ave | 1.42 km | 2,039 | ~$819,742 | 402 | 2026-02-23 | ✓ |
| 5693 Porpoise Bay Rd | 2.2 km | 2,448 | ~$683,200 | 279 | 2026-01-27 | |
| 5457 Burley Pl | 2.22 km | 2,090 | ~$902,799 | 432 | 2026-02-02 | |
| 5628 Medusa Pl | 2.56 km | 2,353 | ~$1,072,624 | 456 | 2026-03-24 | |
| 5799 Anchor Rd | 2.68 km | 1,656 | ~$517,182 | 312 | 2026-04-20 | |
| 4362 Marble Rd | 2.69 km | 2,043 | ~$779,824 | 382 | 2025-10-10 | |
| ~ = 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: $409,000, 2012-01-16 — asking +95.4%
| 2026-08-03 | new | 799000 first seen at $799,000 |
| 2026-07-06 | Listed | $799,000 GVR |
| 2024-01-08 | Listed | $889,900 GVR |
| 2012-01-16 | Sold (Public Records) | $409,000 Public Records |
| 2011-05-30 | Listed | $419,900 GVR |
| 2000-07-19 | Sold (Public Records) | $186,000 Public Records |
| 1996-02-28 | Sold (Public Records) | $195,000 Public Records |
History: Redfin belowTheFold · fetched 2026-08-03T07:15
· events observed by Coastwatch
Zoning & land
R-1 — Large Lot, Low Density Residential suite OK
Single-unit dwelling zone in all three bylaws, but the suite path differs. Areas B/D/E/F: suite permitted on any parcel EXCEPT inside an SCRD wastewater service area — check that first, it is the one thing that kills it outright. Also an auxiliary dwelling unit over 2000 m2 and a second single-unit dwelling over 3500 m2. Area A: no general suite right at all; an auxiliary dwelling unit needs over 2000 m2, a second dwelling needs 4000 m2. Sechelt R-1: secondary suite is a listed accessory use, plus a detached accessory dwelling unit at 2000 m2 and up (unsewered large-lot zone). [Bylaw 722.9 s.5.1.1(h), s.5.24.1, s.7.1.2; Bylaw 337 s.601.1; Bylaw 580 s.1.1.2-1.1.3]
- Slope greater than 20% to 30% — Steep-slope DPA: a geotechnical engineer's report is required for foundation work. This is the one that most often kills a lower-level suite excavation.
- Slope greater than 30% — Steep-slope DPA: a geotechnical engineer's report is required for foundation work. This is the one that most often kills a lower-level suite excavation.
| PID | 017-714-133 |
|---|---|
| Parcel | 5309 CEDARVIEW PL (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 | $872,000 |
|---|---|
| Land / improvements | $505,000 / $367,000 (58% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.09 asking under assessment |
| BCA folio | 570.04653.103 |
BC Assessment via SCRD parcel layer · fetched 2026-08-03T05:55
Open questions
- Confirm suite legality with the planning department — zone says yes, verify parcel specifics (parking, servicing, floor-area cap).
- Slope greater than 20% to 30%: Steep-slope DPA: a geotechnical engineer's report is required for foundation work. This is the one that most often kills a lower-level suite excavation.
- Slope greater than 30%: Steep-slope DPA: a geotechnical engineer's report is required for foundation work. This is the one that most often kills a lower-level suite excavation.