$759,000 GREY
4902 Laurel Ave, Selma Park
5 bd · 4.0 ba · 3,047 sqft
· 10,454 sqft lot
· built 1978
· 49 DOM · MLS R3136042
Has suiteOcean view
Oil-tank era
Listing: Redfin search · fetched 2026-08-03T07:15
Description
Davis Bay 5 bedroom, 4 bath, 3,100 sq ft view home offering 3 separate suites—ideal for multigenerational living or rental income to offset your mortgage. The upper level features a wheelchair-accessible 3 bedroom rancher with vaulted ceilings, wood fireplace, open living space, large wraparound view deck, & double carport. Below are 2 self-contained, level-entry suites, 2nd laundry, and each with covered patio & ocean views. Was generating $4,997 per month in rental income, this property offers excellent flexibility. Set on a 10,000+ sq ft lot with private yard or garden space and ample parking. Panoramic west facing views from both levels stretch across the Georgia Strait
From listing remarks (RE/MAX City Realty)
Rating 39 /100 · incomplete data — ceiling 65
| Equity | 0/40 | no ARV — unscored | |
| Cash flow | 30.0/30 | +941/mo | |
| Suite-arb | 8.2/15 | suite exists — value already in the rent | |
| Motivation | 0.7/15 | 51d on market, no cuts — anchored seller |
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.
Support score 0.0 — 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 = $759,000 + $40,000 + $15,680 = $814,680
ARV = — → limit = 85% × ARV = —
margin = —
Rent — UNKNOWN
est. rent >= 0.40% x ARV
est. rent = $5,700/mo (main dwelling (4bd) $3,400 + suite (suite_2bed) $2,300)
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 $3,041 (loan $607,200 @ 4.4%/30y)
+ tax $420 (mls) + ins $158 + maint $285 + vac $342 + PM $513
carrying = $4,759/mo · rent $5,700 → cash flow = $941/mo (floor $-800)
Suite-arb — N/A — SUITE ALREADY EXISTS
Arb = adding a suite the price doesn't reflect. This one has its suite — the income is already counted in the Rent and Cash-flow tests instead.
zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median
zone R-1 suite:yes · sqft 3,047 (min 1,900)
suite language: yes · $/sqft 249 vs median 489
Scored 2026-08-03T08:51 · thresholds from criteria.yaml
Cash-flow scenarios $/mo · hover a cell for carrying cost
| Price | $5,700 typical self-managed |
$5,700 typical PM |
$6,450 high self-managed |
$6,450 high PM |
|---|---|---|---|---|
| $759,000 | +$1,454 | +$941 | +$2,122 | +$1,541 |
| $721,050 −5.0% | +$1,606 | +$1,093 | +$2,274 | +$1,693 |
| $694,485 −8.5% | +$1,713 | +$1,200 | +$2,380 | +$1,800 |
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml
Comps & ARV
No ARV yet — 4 comps within 3.0km but only 0 within ±30% of 3,047 sqft — no ARV rather than a bad one. (4 solds nearby; comps backfill runs nightly.)
Solds from Redfin sold-search + public-records sale prices (belowTheFold)
Price & sale history
Seller basis: $409,000, 2008-08-15 — asking +85.6%
| 2026-08-03 | new | 759000 first seen at $759,000 |
| 2026-06-13 | Listed | $759,000 GVR |
| 2008-08-15 | Sold (Public Records) | $409,000 Public Records |
History: Redfin belowTheFold · fetched 2026-08-03T07:45
· 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.
| PID | 007-674-937 |
|---|---|
| Parcel | 4902 LAUREL 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 2026-08-03T05:46 · meanings from zoning_rules.yaml (verify before relying)
Assessment
| Assessed total | $831,000 |
|---|---|
| Land / improvements | $670,000 / $161,000 (81% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.09 asking under assessment |
| BCA folio | 570.03394.090 |
BC Assessment via SCRD parcel layer · fetched 2026-08-03T05:55
Open questions
- Is the suite authorized? Ask for permits and final inspection sign-off.
- Built 1978 — oil-tank era. Ask for a tank scan or decommissioning certificate.
- 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.
- 49 days on market — ask the listing agent why it hasn't moved.