$635,000 GREY
5673 Salmon Dr, Sechelt
2 bd · 2.0 ba · 814 sqft
· 10,802 sqft lot
· built 2010
· 98 DOM · MLS R3137416
Listing: Redfin search · fetched 2026-09-24T19:15
Description
Nestled in a peaceful, private setting in the heart of Sechelt, this charming 2 bedroom, 2 bathroom home offers the perfect blend of convenience and tranquility. Surrounded by mature trees and natural beauty, you’ll feel immersed in nature while being just minutes from downtown Sechelt, beaches, shopping, restaurants, recreation. The open kitchen & dining room create a bright and inviting living space. Cozy into the large Primary with ensuite /walk in closet. Enjoy morning coffee or evening gatherings on 1 of the 2 decks, the spacious concrete crawl space provides ample storage. Ideal as a starter home, downsizing opportunity or a Coastal getaway, this unique property offers rel
From listing remarks (RE/MAX City Realty)
Rating 14 /100
| Equity | 0/40 | -122,942 vs limit (-18.5% of ARV) | |
| Cash flow | 0/30 | -1,156/mo | |
| Suite-arb | 3.2/15 | zone permits a suite; other conditions short | |
| Motivation | 11.0/15 | 98d on market, 1 cut(s), 2 relist(s) |
Offer case
Price can't fix this. rent test — needs 2,660/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 97.7% of list — a 2.3% discount is simply normal here.
- 98 days on market vs a 58-day median.
- 1 price cut(s) already — the seller has shown they will move.
- 2 previous failed listing(s) — this seller has been here before.
- Asking $780/sqft where comparable homes sold at $496/sqft (+57%) — the ask is above the local clearing price.
- ARV confidence is LOW (thin or unrenovated comps) — the target price below could be off by 10%+ in either direction.
Support score 0.85 — 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 = $635,000 + $40,000 + $13,200 = $688,200
ARV = $665,010 → limit = 85% × ARV = $565,258
margin = $-122,942 · at band low ($491,277): $-270,615 — GREEN needs this ≥ 0
Rent — FAIL
est. rent >= 0.40% x ARV
est. rent = $2,460/mo (whole house (2bd) $2,460)
floor = 0.4% × ARV $665,010 = $2,660/mo
rents table: Sechelt · as of 2026-08-02
Cash flow — FAIL
rent - carrying >= -800/mo (PM-managed, typical rent, at ask)
payment $2,544 (loan $508,000 @ 4.4%/30y)
+ tax $422 (mls) + ins $158 + maint $123 + vac $148 + PM $221
carrying = $3,616/mo · rent $2,460 → cash flow = $-1,156/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 814 (min 1,900)
suite language: no · $/sqft 780 vs median 474
Scored 2026-09-24T07:16 · 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 |
|---|---|---|---|---|
| $635,000 | −$935 | −$1,156 | −$606 | −$861 |
| $603,250 −5.0% | −$808 | −$1,029 | −$479 | −$734 |
| $581,025 −8.5% | −$719 | −$940 | −$390 | −$645 |
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml
Comps & ARV
ARV $665,010
range $491,277 – $1,189,642
(about half of comparable sales landed inside this band)
median $/sqft of 12 nearest size-matched sales × 101% paired reno premium (12 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence low
($/sqft used: 824)
Cross-check: comps say $677,443, BC Assessment × sale ratio says $636,000 (+6% apart)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5808 Anchor Rd | 0.3 km | 1,056 | ~$780,303 | 739 | 2026-02-20 | ✓ |
| 5699 Trident Ave | 0.65 km | 801 | ~$532,247 | 664 | 2026-02-11 | |
| 6121 Golf Course Rd | 1.62 km | 782 | ~$1,463,923 | 1,872 | 2026-03-13 | |
| 6275 Norwest Bay Rd | 1.99 km | 924 | ~$868,197 | 940 | 2025-10-07 | |
| 4731 Laurel Ave | 4.63 km | 928 | ~$600,609 | 647 | 2026-05-28 | |
| 6815 Sandy Hook Trail | 4.66 km | 767 | ~$975,623 | 1,272 | 2026-01-20 | |
| 6075 Coracle Dr | 4.87 km | 713 | ~$1,170,943 | 1,642 | 2026-07-08 | |
| 8200 Redrooffs Rd | 9.38 km | 907 | ~$536,153 | 591 | 2026-04-15 | |
| ~ = 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
| 2026-09-24 | delisted | absent from search results |
| 2026-08-10 | price_cut | 645500 → 635000 -1.6% |
| 2026-08-03 | new | 645500 first seen at $645,500 |
| 2026-08-10 | Price Changed | $635,000 GVR |
| 2026-06-18 | Listed | $645,500 GVR |
| 2021-07-24 | Listed | $699,000 GVR |
| 2017-06-09 | Listed | $399,900 GVR |
History: Redfin belowTheFold · fetched 2026-09-24T13:45
· 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]
- Rocky Beach Front, Escarpments and Slope Hazards — 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 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 | 025-796-887 |
|---|---|
| Parcel | 5673 SALMON DR (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 | $636,000 |
|---|---|
| Land / improvements | $416,000 / $220,000 (65% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.0 asking under assessment |
| BCA folio | 570.00097.214 |
BC Assessment via SCRD parcel layer · fetched 2026-08-03T05:55
Open questions
- Rocky Beach Front, Escarpments and Slope Hazards: 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 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.
- 98 days on market — ask the listing agent why it hasn't moved.