svnserve setup

I'm getting errors while trying to setup svnserve, such as
ERR - 0 210005 No repository found in...

The repository does exist since I can run
svn list file:///var/svn/repos/myproject successfully
but svn list svn://localhost/var/svn/repos/myproject results in the above error.
You typically don't supply the actual filesystem path when querying 'remotely': svn list svn://localhost/myproject

As a user you don't really know (or care) where the server actually stores the files themselves. It's the service's job to figure that out. You're only interested in the server and the repository name.

Similar to a web request for The actual directory where /dir/file.txt is stored on the server is not known and could be anywhere. It's the job of the web server to translate this according to it's configuration to find the actual files.