$450,000 AMBER

5284 Little Lane, Selma Park
2 bd · 1.5 ba · 1,081 sqft · 5,227 sqft lot · 164 DOM · MLS R3112499
As-is / where-isFixer / handymanOcean view
Redfin ↗
Listing: Redfin search · fetched 2026-09-27T19:15

Description

Two charming cabins on Little Lane, each with its own separate address, offer a unique opportunity for the right buyer. The lower cabin features 1 bed + den, 1 bath, and a private patio, while the upper cabin offers 1 bed, 1.5 baths, and a sundeck with beautiful ocean views. Sold as is, where is, this property requires updates and is ideal for an investor, handyman, or buyer looking to build equity. Live in one and rent the other, or explore rental potential for both. Conveniently located close to transit, Downtown Sechelt, trails, and beach access.
From listing remarks (RE/MAX Oceanview Realty)

Rating 59 /100

Equity
27.2/40 +31,018 vs limit (+5.0% of ARV)
Cash flow
10.0/30 -335/mo
Suite-arb
8.8/15 zone permits a suite; other conditions short
Motivation
12.8/15 169d on market, 1 cut(s), asking 132% of assessed

Offer case

Price can't fix this. rent test — needs 2,497/mo vs 2,460 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.
  • 169 days on market vs a 60-day median.
  • 1 price cut(s) already — the seller has shown they will move.
  • Asking only 132% of assessed value — a genuine discount to the roll, not the usual 1-2%.
  • Already asking below the $495/sqft local sold level — little room to push.
Support score 0.5 — 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 = $450,000 + $40,000 + $9,500 = $499,500 ARV = $624,139 → limit = 85% × ARV = $530,518 margin = $31,018 · at band low ($577,514): $-8,613 — GREEN needs this ≥ 0
Rent — FAIL
est. rent >= 0.40% x ARV
est. rent = $2,460/mo (whole house (2bd) $2,460) floor = 0.4% × ARV $624,139 = $2,497/mo rents table: Sechelt · as of 2026-08-02
Cash flow — PASS
rent - carrying >= -800/mo (PM-managed, typical rent, at ask)
payment $1,803 (loan $360,000 @ 4.4%/30y) + tax $342 (mls) + ins $158 + maint $123 + vac $148 + PM $221 carrying = $2,795/mo · rent $2,460 → cash flow = $-335/mo (floor $-800)
Suite-arb — FAIL
zone permits suite AND sqft >= 1,900 AND no suite language AND $/sqft < community median
zone R-1 suite:yes · sqft 1,081 (min 1,900) suite language: no · $/sqft 416 vs median 471
Scored 2026-10-02T05:55 · 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
$450,000 −$113 −$335 +$215 −$40
$427,500 −5.0% −$23 −$245 +$305 +$51
$411,750 −8.5% +$40 −$182 +$368 +$114
Rents: rents.yaml as of 2026-08-02 · financing from criteria.yaml

Comps & ARV

ARV $624,139 range $577,514 – $776,965 (about half of comparable sales landed inside this band)
median $/sqft of 10 renovated size-matched sales (10 priced from list × measured sale ratio — ~3y registration lag), blended 70%/30% with assessed × 1.03 (sale/assessed, renovated) · confidence medium ($/sqft used: 589)

Cross-check: comps say $636,709, BC Assessment × sale ratio says $594,808 (+7% apart)

SoldDistSqftPrice$/sqftDateReno
5750 Spindrift St 1.95 km1,176 ~$556,548 4732026-05-10✓
5808 Anchor Rd 2.52 km1,056 ~$780,144 7392026-02-20✓
4657 Whitaker Rd 2.69 km1,104 ~$781,022 7072025-10-08✓
6307 Homestead Ave 4.0 km1,403 ~$776,238 5532026-01-24✓
6270 Homestead Ave 4.01 km1,284 ~$756,710 5892026-01-21✓
5636 Cascade Cres 4.09 km1,284 ~$721,364 5622026-07-18✓
5726 Emily Way 4.11 km1,360 ~$729,371 5362026-03-16✓
5592 Curtis Pl 4.32 km1,358 ~$974,447 7182025-11-14✓
~ = final list price × measured sale ratio (BC title registration lags ~3 years, so recent solds have no registered price; the proxy is within ~2% of the registered price when both exist)
Solds from Redfin sold-search + public-records sale prices (belowTheFold)

Price & sale history

Seller basis: $460,000, 2017-08-31 — asking -2.2%

2026-09-02price_cut 525000 → 450000 -14.3%
2026-08-03new 525000 first seen at $525,000
2026-09-02Price Changed $450,000 GVR
2026-05-25Price Changed $525,000 GVR
2026-04-16Listed $539,900 GVR
2017-08-31Sold (Public Records) $460,000 Public Records
2017-05-23Listed $449,000 GVR
History: Redfin belowTheFold · fetched 2026-09-27T19:46 · 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]

PID025-631-560
Parcel5284 LITTLE LANE (Sechelt)
WastewaterDistrict of Sechelt sewer service
WaterChapman system
Fire protectionSechelt 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$596,000
Land / improvements $495,000 / $101,000 (83% land — the higher, the more the value is in the dirt)
Assessed / ask 1.32 asking under assessment
BCA folio570.02856.005
BC Assessment via SCRD parcel layer · fetched 2026-08-03T06:45

Open questions

  • As-is/estate/court sale — no seller disclosures. Budget a thorough inspection; ask what the court/estate timeline is.
  • 164 days on market — ask the listing agent why it hasn't moved.

Notes