$795,000 GREY

5692 Emily Way, West Sechelt

3 bd · 2.0 ba · 1,276 sqft · 5,227 sqft lot · built 2008 · 25 DOM · MLS R3144746

Redfin ↗

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

Description

Immaculate home and property on Emily Way. This 3 bedroom, 2 bath rancher has been lovingly maintained by its' one time owner. Attention to detail and upgrades are everywhere starting with the resurfaced driveway, the manicured gardens and extensive patio brick leading to a fully fenced and low maintenance yard. Inside, the kitchen has been tastefully updated along with new flooring throughout. Upgraded fireplace along with a new heat-pump and front windows along with new blinds completes what is the perfect house to just move in and enjoy. 10 out of 10.

From listing remarks (RE/MAX Oceanview Realty)

Rating 7 /100

Equity	0/40	-162,679 vs limit (-20.1% of ARV)
Cash flow	0/30	-1,423/mo
Suite-arb	5.0/15	zone permits a suite; other conditions short
Motivation	2.2/15	25d on market, 1 relist(s)

Offer case

Price can't fix this. rent test — needs 3,241/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 25 days on market — too fresh for a big discount.
1 previous failed listing(s) — this seller has been here before.

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 = $795,000 + $40,000 + $16,400 = $851,400 ARV = $810,260 → limit = 85% × ARV = $688,721 margin = $-162,679

Rent — FAIL

est. rent >= 0.40% x ARV

est. rent = $3,000/mo (whole house (3bd) $3,000) floor = 0.4% × ARV $810,260 = $3,241/mo rents table: Sechelt · as of 2026-08-02

Cash flow — FAIL

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

payment $3,185 (loan $636,000 @ 4.4%/30y) + tax $479 (mls) + ins $158 + maint $150 + vac $180 + PM $270 carrying = $4,423/mo · rent $3,000 → cash flow = $-1,423/mo (floor $-800)

Suite-arb — FAIL

zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median

zone R-3 suite:yes · sqft 1,276 (min 1,900) suite language: no · $/sqft 623 vs median 489

Scored 2026-08-03T08:50 · 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
$795,000	−$1,153	−$1,423	−$752	−$1,063
$755,250 −5.0%	−$993	−$1,263	−$593	−$903
$727,425 −8.5%	−$882	−$1,152	−$481	−$792

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

Comps & ARV

ARV $810,260 — median $/sqft of 4 renovated sales within 3.0km (4 priced from list x measured sale ratio — registration lag) · confidence medium ($/sqft used: 635)

Sold	Dist	Sqft	Price	$/sqft	Date	Reno
6307 Homestead Ave	0.27 km	1,403	~$775,761	553	2026-01-24	✓
5641 Nickerson Rd	0.27 km	1,487	~$805,035	541	2026-03-06	✓
5592 Curtis Pl	0.5 km	1,358	~$973,848	717	2025-11-14	✓
5808 Anchor Rd	2.09 km	1,056	~$779,664	738	2026-02-20	✓
~ = 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: $225,324, 2006-11-15 — asking +252.8%

2026-08-03	new	795000 first seen at $795,000
2026-07-09	Listed	$795,000 GVR
2017-12-22	Delisted	GVR
2017-12-13	Listed	$629,000 GVR
2006-11-15	Sold (Public Records)	$225,324 Public Records

History: Redfin belowTheFold · fetched 2026-08-03T07:16 · events observed by Coastwatch

Zoning & land

R-3 — Small Lot Residential suite OK

Areas B/D/E/F: single-unit dwelling with a restricted second storey. Density is capped at one dwelling per parcel, but s.5.24.4 excludes secondary suites from that count, so a suite still works (wastewater carve-out aside). No auxiliary dwelling unit here. Area A: residential with auxiliary commercial — over 2000 m2 gets a duplex second unit OR one auxiliary dwelling unit. Sechelt R-3: SSMUH small-lot zone, suite plus up to 4 units. [Bylaw 722.9 s.7.3.2-7.3.3, s.5.24.4; Bylaw 337 s.621.1; Bylaw 580 s.1.3.2-1.3.4]

PID	026-560-054
Parcel	5692 EMILY WAY (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	$725,000
Land / improvements	$451,000 / $274,000 (62% land — the higher, the more the value is in the dirt)
Assessed / ask	0.91
BCA folio	570.06421.103

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

Open questions

None generated.