$699,000 GREY
5599 Medusa Pl, Sechelt
3 bd · 2.0 ba · 1,419 sqft
· 6,969 sqft lot
· built 1997
· 55 DOM · MLS R3133906
Septic / well
Listing: Redfin search · fetched 2026-08-03T07:15
Description
Welcome to this charming and well-maintained 3-bedroom, 2 full bathroom rancher in the heart of Sechelt. Perfectly suited for first-time buyers, growing families, or those looking to downsize into comfortable one-level living, this home offers both versatility and value. Step inside to find a spacious and functional layout featuring a large kitchen and dining area—ideal for everyday living and entertaining. The generous bedroom sizes provide plenty of space for the whole family, while the thoughtful floor plan ensures ease of living throughout. Outside, enjoy a private patio and ample garden space, perfect for relaxing, hosting, or putting your green thumb to work. Situated on a quiet
From listing remarks (Royal LePage Sussex)
Rating 27 /100
| Equity | 20.7/40 | +12,425 vs limit (+1.4% of ARV) | |
| Cash flow | 0/30 | -1,042/mo | |
| Suite-arb | 5.6/15 | zone permits a suite; other conditions short | |
| Motivation | 0.9/15 | 55d on market, no cuts — anchored seller |
Offer case
Price can't fix this. rent test — needs 3,604/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.
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 = $699,000 + $40,000 + $14,480 = $753,480
ARV = $901,065 → limit = 85% × ARV = $765,905
margin = $12,425
Rent — FAIL
est. rent >= 0.40% x ARV
est. rent = $3,000/mo (whole house (3bd) $3,000)
floor = 0.4% × ARV $901,065 = $3,604/mo
rents table: Sechelt · as of 2026-08-02
Cash flow — FAIL
rent - carrying >= -800/mo (PM-managed, typical rent, at ask)
payment $2,800 (loan $559,200 @ 4.4%/30y)
+ tax $484 (mls) + ins $158 + maint $150 + vac $180 + PM $270
carrying = $4,042/mo · rent $3,000 → cash flow = $-1,042/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 1,419 (min 1,900)
suite language: no · $/sqft 493 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 |
|---|---|---|---|---|
| $699,000 | −$772 | −$1,042 | −$372 | −$682 |
| $664,050 −5.0% | −$632 | −$902 | −$232 | −$542 |
| $639,585 −8.5% | −$534 | −$804 | −$134 | −$444 |
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml
Comps & ARV
ARV $901,065 — 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 |
|---|---|---|---|---|---|---|
| 5808 Anchor Rd | 0.64 km | 1,056 | ~$779,824 | 738 | 2026-02-20 | ✓ |
| 5641 Nickerson Rd | 1.84 km | 1,487 | ~$805,200 | 541 | 2026-03-06 | ✓ |
| 6307 Homestead Ave | 1.9 km | 1,403 | ~$775,920 | 553 | 2026-01-24 | ✓ |
| 5592 Curtis Pl | 2.27 km | 1,358 | ~$974,048 | 717 | 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: $829,000, 2022-02-15 — asking -15.7%
| 2026-08-03 | new | 699000 first seen at $699,000 |
| 2026-07-08 | Price Changed | $699,000 GVR |
| 2026-06-09 | Listed | $700,000 GVR |
| 2022-02-15 | Sold (Public Records) | $829,000 Public Records |
| 2021-11-02 | Listed | $829,000 GVR |
| 2019-05-16 | Sold (Public Records) | $635,000 Public Records |
| 2019-02-28 | Listed | $645,000 GVR |
| 2017-04-13 | Sold (Public Records) | $465,000 Public Records |
| 2017-02-14 | Listed | $469,900 GVR |
| 2014-02-27 | Sold (Public Records) | $315,000 Public Records |
| 2013-10-01 | Listed | $329,000 GVR |
| 2004-08-30 | Sold (Public Records) | $252,000 Public Records |
| 2004-07-28 | Listed | $254,900 GVR |
History: Redfin belowTheFold · fetched 2026-08-03T07:16
· 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 | 023-427-329 |
|---|---|
| Parcel | 5599 MEDUSA 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 | $766,000 |
|---|---|
| Land / improvements | $485,000 / $281,000 (63% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.1 asking under assessment |
| BCA folio | 570.00325.054 |
BC Assessment via SCRD parcel layer · fetched 2026-08-03T05:55
Open questions
- Septic/well: age, last pump-out, and any permits on file? Get the well log and water potability test.
- 55 days on market — ask the listing agent why it hasn't moved.