$609,900 GREY
5708 Louise Way, West Sechelt
3 bd · 1.5 ba · 1,308 sqft
· 5,383 sqft lot
· built 2006
· 117 DOM · MLS R3108374
Fixer / handyman
Listing: Redfin search · fetched 2026-08-03T07:15
Description
Great location, close to trails, shopping , schools, beaches and downtown Sechelt. Available now at an exceptional price. This 3 bedroom one level home is perfect h for a home for a family or seniors or great for investors. Functional floor plan with extended kitchen , walk in closet in primary bedroom and a separate laundry area. Added bonus double garage and carport that accomodates 2 cars. Fenced yard for entertaining or relaxing. Location is very close to park area and this development has a very low annual fee. Property needs some TLC
From listing remarks (Sutton Group-West Coast Realty)
Rating 24 /100
| Equity | 6.2/40 | -47,773 vs limit (-6.6% of ARV) | |
| Cash flow | 3.1/30 | -657/mo | |
| Suite-arb | 9.7/15 | zone permits a suite; other conditions short | |
| Motivation | 5.2/15 | 117d on market, no cuts — anchored seller, asking 120% of assessed |
Offer case
GREEN at $563,000 — that's $46,900 (7.7%) below the $609,900 ask. Worth an offer
That discount is
3.2× what this market normally concedes.
EVIDENCE
- Coast-wide, homes sell at 97.6% of list — a 2.4% discount is simply normal here.
- 117 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 120% 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 — FAIL
(price + $40,000 reno + PTT+legal closing) <= 85% x ARV
all-in = $609,900 + $40,000 + $12,698 = $662,598
ARV = $723,324 → limit = 85% × ARV = $614,825
margin = $-47,773
Rent — PASS
est. rent >= 0.40% x ARV
est. rent = $3,000/mo (whole house (3bd) $3,000)
floor = 0.4% × ARV $723,324 = $2,893/mo
rents table: Sechelt · as of 2026-08-02
Cash flow — PASS
rent - carrying >= -800/mo (PM-managed, typical rent, at ask)
payment $2,443 (loan $487,920 @ 4.4%/30y)
+ tax $455 (mls) + ins $158 + maint $150 + vac $180 + PM $270
carrying = $3,657/mo · rent $3,000 → cash flow = $-657/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 1,308 (min 1,900)
suite language: no · $/sqft 466 vs median 489
Scored 2026-08-03T08:57 · 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 |
|---|---|---|---|---|
| $609,900 | −$387 | −$657 | +$14 | −$297 |
| $579,405 −5.0% | −$265 | −$535 | +$136 | −$175 |
| $558,058 −8.5% | −$179 | −$449 | +$221 | −$89 |
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml
Comps & ARV
ARV $723,324 — median $/sqft of 5 renovated sales within 3.0km (5 priced from list x measured sale ratio — registration lag) · confidence medium ($/sqft used: 553)
| Sold | Dist | Sqft | Price | $/sqft | Date | Reno |
|---|---|---|---|---|---|---|
| 5641 Nickerson Rd | 0.35 km | 1,487 | ~$805,035 | 541 | 2026-03-06 | ✓ |
| 6307 Homestead Ave | 0.36 km | 1,403 | ~$775,761 | 553 | 2026-01-24 | ✓ |
| 5592 Curtis Pl | 0.59 km | 1,358 | ~$973,848 | 717 | 2025-11-14 | ✓ |
| 5808 Anchor Rd | 2.06 km | 1,056 | ~$779,664 | 738 | 2026-02-20 | ✓ |
| 5750 Spindrift St | 2.35 km | 1,176 | ~$556,206 | 473 | 2026-05-10 | ✓ |
| ~ = 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: $315,000, 2010-06-23 — asking +93.6%
| 2026-08-03 | new | 609900 first seen at $609,900 |
| 2026-07-30 | Price Changed | $609,900 GVR |
| 2026-07-03 | Price Changed | $634,900 GVR |
| 2026-06-05 | Price Changed | $654,900 GVR |
| 2026-05-05 | Price Changed | $675,000 GVR |
| 2026-04-08 | Listed | $699,000 GVR |
| 2010-06-23 | Sold (Public Records) | $315,000 Public Records |
| 2010-03-19 | Listed | $325,000 GVR |
| 2007-02-01 | Sold (Public Records) | $296,765 Public Records |
History: Redfin belowTheFold · fetched 2026-08-03T07:46
· 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 | 026-899-914 |
|---|---|
| Parcel | 5708 LOUISE 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 2026-08-03T05:46 · meanings from zoning_rules.yaml (verify before relying)
Assessment
| Assessed total | $732,000 |
|---|---|
| Land / improvements | $451,000 / $281,000 (62% land — the higher, the more the value is in the dirt) |
| Assessed / ask | 1.2 asking under assessment |
| BCA folio | 570.06421.150 |
BC Assessment via SCRD parcel layer · fetched 2026-08-03T06:45
Open questions
- 117 days on market — ask the listing agent why it hasn't moved.