$365,000 GREY
5701 Wharf Rd, Sechelt
1 bd · 1.0 ba · 650 sqft
· 7,694 sqft lot
· built 1952
· 80 DOM · MLS R3124470
Fixer / handyman
Oil-tank era
Listing: Redfin search · fetched 2026-08-03T07:15
Description
Opportunity knocks in a convenient downtown Sechelt location. This older cottage needs significant work but offers a chance to build sweat equity and own your own land. RM1 zoning provides future higher density development potential for buyers thinking long term. Not long ago this property was a comfortable and loved home. Property includes a detached shed and city sewer connection. Easy walk to Porpoise Bay pier, shopping, transit, Sechelt Marsh, and other nearby amenities. A good fit for buyers looking for a project, investment potential, or future redevelopment opportunity.
From listing remarks (RE/MAX Oceanview Realty)
Rating 21 /100 · incomplete data — ceiling 34
| Equity | 0/40 | no ARV — unscored | |
| Cash flow | 16.7/30 | -22/mo | |
| Suite-arb | 0.0/15 | no suite path | |
| Motivation | 4.0/15 | 81d on market, no cuts — anchored seller, asking 152% of assessed |
Offer case
Price can't fix this. no ARV or rent estimate — cannot solve
EVIDENCE
- Coast-wide, homes sell at 97.6% of list — a 2.4% discount is simply normal here.
- 81 days on market vs a 59-day median — but ZERO price cuts, so this reads as an anchored seller, not a motivated one.
- Asking only 152% of assessed value — a genuine discount to the roll, not the usual 1-2%.
Support score 0.23 — evidence weight that this seller
would entertain the discount. Not a prediction; a checklist with numbers.
The four tests
Equity — UNKNOWN
(price + $40,000 reno + PTT+legal closing) <= 85% x ARV
all-in = $365,000 + $40,000 + $7,800 = $412,800
ARV = — → limit = 85% × ARV = —
margin = —
Rent — UNKNOWN
est. rent >= 0.40% x ARV
est. rent = $2,460/mo (whole house (1bd) $2,460)
floor = 0.4% × ARV — = —/mo
rents table: Sechelt · as of 2026-08-02
Cash flow — PASS
rent - carrying >= -800/mo (PM-managed, typical rent, at ask)
payment $1,462 (loan $292,000 @ 4.4%/30y)
+ tax $370 (mls) + ins $158 + maint $123 + vac $148 + PM $221
carrying = $2,482/mo · rent $2,460 → cash flow = $-22/mo (floor $-800)
Suite-arb — FAIL
zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median
zone RM-1 suite:no · sqft 650 (min 1,900)
suite language: no · $/sqft 562 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 |
|---|---|---|---|---|
| $365,000 | +$199 | −$22 | +$528 | +$273 |
| $346,750 −5.0% | +$272 | +$51 | +$601 | +$346 |
| $333,975 −8.5% | +$324 | +$102 | +$652 | +$397 |
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml
Comps & ARV
No ARV yet — 31 comps within 3.0km but only 1 within ±30% of 650 sqft — no ARV rather than a bad one. (31 solds nearby; comps backfill runs nightly.)
Solds from Redfin sold-search + public-records sale prices (belowTheFold)
Price & sale history
Seller basis: $518,000, 2021-06-24 — asking -29.5%
| 2026-08-03 | new | 365000 first seen at $365,000 |
| 2026-07-23 | Price Changed | $365,000 GVR |
| 2026-06-24 | Price Changed | $375,000 GVR |
| 2026-05-14 | Listed | $399,000 GVR |
| 2021-06-24 | Sold (Public Records) | $518,000 Public Records |
| 2021-05-24 | Listed | $499,000 GVR |
| 2020-09-08 | Sold (Public Records) | $360,000 Public Records |
| 2020-07-27 | Listed | $349,000 GVR |
| 2017-02-10 | Sold (Public Records) | $255,000 Public Records |
| 2016-12-22 | Listed | $269,000 GVR |
| 2007-05-31 | Sold (Public Records) | $219,500 Public Records |
| 2006-08-09 | Listed | $229,900 GVR |
| 2004-11-29 | Sold (Public Records) | $135,000 Public Records |
History: Redfin belowTheFold · fetched 2026-08-03T07:16
· events observed by Coastwatch
Zoning & land
RM-1 — Residential Multiple no suite / unknown
Apartments only in Areas B/D/E/F (s.7.4.2) — no single-unit dwelling, so s.5.1.1(h) gives no suite. Area A permits a multi-family dwelling plus one single-unit dwelling but has no suite provision. Sechelt RM-1 is apartment/townhouse/two-unit with no secondary suite listed; Gibsons RM-1 is cluster housing and townhouses. Strata almost certain everywhere — outside my buy box. [Bylaw 722.9 s.7.4.2; Bylaw 337 s.701.1; Bylaw 580 s.1.7.2; gibsons.ca Bylaw 1342 s.2.2.3]
| PID | 008-033-935 |
|---|---|
| Parcel | 5701 WHARF AVE (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 | $554,000 |
|---|---|
| Land / improvements | $476,000 / $78,000 (86% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.52 asking under assessment |
| BCA folio | 570.00177.000 |
BC Assessment via SCRD parcel layer · fetched 2026-08-03T05:55
Open questions
- Built 1952 — oil-tank era. Ask for a tank scan or decommissioning certificate.
- 80 days on market — ask the listing agent why it hasn't moved.