54 Bypass Rd #57 · Kennebunk, ME 04090

$165,000

1 bd · 1.0 ba · 420 sqft · Condo public records · 12 Days on market

Built 2002 $142/mo HOA · 7% of rent

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +24.8/30.0
• DSCR +8.0/10.0
• Schools +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy easy seasonal living at Merriland River Resort in Wells! This RV unit offers the rare opportunity to own your own land in a desirable seasonal community open May through October. Relax and unwind in the inviting Florida sunroom, perfect for additional living space, entertaining, or enjoying your morning coffee, while the spacious deck provides the ideal spot for outdoor dining and summer gatherings. Residents enjoy great amenities including a clubhouse, swimming pool, and beautifully maintained grounds--all with low condo fees. Conveniently located near Wells beaches, shopping, restaurants, and local attractions, this affordable getaway is perfect for summer escapes or a low-maintenan

Key facts

• Clubhouse
• Florida sunroom
• Swimming pool

Tags

• FLORIDA SUNROOM
• SPACIOUS DECK
• CLUBHOUSE
• SWIMMING POOL
• BEAUTIFULLY MAINTAINED GROUNDS
• NEAR WELLS BEACHES

Property features AI

Finance

• HOA & community: Association with annual fee of $1,700; Pets allowed with restrictions; Community clubhouse; Gated community (Merriand River Resort)

Exterior

• Parking: 1–4 parking spaces
• Utilities: Public water; Public sewer; Electric service with circuit breakers; Electric water heater
• Home design: Mobile home; Single-story; Built in 2002
• Construction: Vinyl siding; Shingle roof; Mobile construction
• Exterior features: Deck; Porch; Screened porch; Near golf course; Near public beach; Near shopping; Neighborhood setting; Near railroad; Level lot

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Bedroom on the 1st floor
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: First-floor bedroom; Internet access available; Total of 4 rooms
• Laundry & utility: Coin laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 8.8% vs local median 3.6% in Kennebunk — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 79/100 on livability (#20 in ME, #2,049 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, amenities F, commute F.
• Wells-Ogunquit CSD (rural): math 87% / reading 90% proficiency, ranked #32 of 112 in ME (top 29%) — strong family-tenant draw, lease renewals of 3-5y typical; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Wells Elementary School (math 87% / reading 91%, grade A+, #73 of 294 statewide, top 25%, 551 students, 15% FRL); Wells Junior High School (math 86% / reading 90%, grade A+, #27 of 85 statewide, top 31%, 441 students, 19% FRL); Wells High School (math 98% / reading 92%, grade A+, #18 of 108 statewide, top 22%, 415 students, 10% FRL) — zoned schools at 15% FRL track the district average.
• Market conditions: 272 active listings in the ZIP; 1,386 units permitted in York County in 2024 (338 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $165,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.04%
• DSCR: 1.40
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.6%
• Equity multiple: 0.90×
• Total profit: $-4,531
• Equity at exit: $24,602

10-year hold

• IRR: 7.1%
• Equity multiple: 1.54×
• Total profit: $24,754
• Equity at exit: $14,266

Cash invested: $46,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 41 Moderately Tenant-Leaning
• State Maine: 41 Moderately Tenant-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

Portland has rent control referendum (2020); strong habitability; security deposit caps.

Methodology + full state rankings →

ZIP-level market 04090

• Home prices YoY: -20.0%
• Active inventory: 272
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,903 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$80 /mo · $955/yr
• Insurance: −$69
• HOA: −$142
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $348

Break-even live

Break-even rent $1,463

Max offer price $165,000

Occupancy floor 77%

Sensitivity live

Price	-10% $441	-5% $395	+0% $348	+5% $301	+10% $255
Rent	-10% $198	-5% $273	+0% $348	+5% $423	+10% $498
Rate	-1.0pp $431	-0.5pp $390	base $348	+0.5pp $305	+1.0pp $262

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $142 · $1,704/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-22
   days on market $165,000 Active 12 DOM
2. 2026-06-18
   days on market $165,000 Active 9 DOM
3. 2026-06-17
   days on market $165,000 Active 8 DOM
4. 2026-06-16
   days on market $165,000 Active 7 DOM
5. 2026-06-15
   days on market $165,000 Active 6 DOM
6. 2026-06-14
   days on market $165,000 Active 4 DOM
7. 2026-06-13
   days on market $165,000 Active 3 DOM
8. 2026-06-09
   remarks 699-char remark
9. 2026-06-09
   listed $165,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast ME · Partial reset (capped growth)

• Current annual tax: $955 · $80/mo
• Projected year-2 tax: $1,600 · $133/mo
• Expected delta: +$644/yr (+$54/mo · 67.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $22,841
• − Mortgage interest: −$9,243
• − Property taxes: −$955
• − Insurance: −$825
• − Repairs & maintenance: −$1,827
• − Management: −$1,827
• − HOA: −$1,704
• − Depreciation: −$4,800
• Taxable income: $1,660
• Est. tax owed @ 24.0%: −$398
• After-tax cash flow: $3,778/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Wells-Ogunquit CSD
• NCES district ID: 2313490
• Math proficiency: 87% ▲ 42.00%
• Reading proficiency: 90% ▲ 26.00%
• Median HH income: $61,341
• Composite: 75.79/100
• National rank: #125
• State rank: #32 of 112 in ME

Livability — Kennebunk

• Score: 79/100
• State rank: #20
• US rank: #2049

Category grades

Amenities F Commute F Cost of living D+ Crime A+ Employment A+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 11,544

Population outlook (York County) Hauer SSP2

• Today (2025): 209,961 people
• By 2030: 212,816 · +1.4%
• By 2040: 214,360 · +2.1%
• By 2050: 210,350 · +0.2%
• By 2075: 201,686 · -3.9%
• By 2100: 183,392 · -12.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Black 3% Asian 1%
• Common ancestry: Lithuanian 11% Romanian 3% Slovak 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Other Indo-European 1% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · York

• 2024 margin: D (+10.5) · D 54.3% · R 43.8% · Other 1.9%
• 2008→2024 swing: -10.1pp toward R · 2008: 20.5pp · 2024: 10.5pp
• All cycles: 2024: D+10.5 2020: D+12.6 2016: D+4.8 2012: D+16.4 2008: D+20.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.52%
• Current HPI: 413.9951
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-06-09 Listed $165,000 MREIS

Property tax history

-0.3%/yr

Latest (2025): $955 · +6.2% YoY. Source: county tax records.