143 Beach Ave #203 · Kennebunk, ME 04043

$870,000

2 bd · 2.0 ba · 1,156 sqft · Condo public records · 622 Days on market

Built 1985 $753/sqft · 8% below area Est $1113k · 22% under $871/mo HOA · 8% of rent

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Why this score? — see what drove the B+ 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 +26.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +8.1/10.0
• Schools +8.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled in the desirable Narragansett condo complex at Kennebunk Beach, this updated 2-bedroom, 2.5-bath condo offers coastal living at its finest. The kitchen features sleek granite countertops, while the open-concept living space boasts hardwood floors throughout. Enjoy ocean views from your private side deck, perfect for relaxing or entertaining. Residents have access to exclusive amenities, including tennis courts and an in-ground pool, all within a short stroll to the beach. Ideal for those seeking a serene seaside retreat with modern comforts.

Key facts

• Exclusive amenities
• Coastal living
• Ocean views

Tags

• COASTAL LIVING
• GRANITE COUNTERTOPS
• HARDWOOD FLOORS
• OCEAN VIEWS
• EXCLUSIVE AMENITIES
• SEASIDE RETREAT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $870k.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $870k).
• Recommended offer: $766k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 3.2% 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: schools A+, crime A+, employment A+; Watch: cost of living D+, amenities F, commute F.
• RSU 21 (rural): math 91% / reading 94% proficiency, ranked #13 of 112 in ME (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 132 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $6k of loan paydown is wiped out by about $26k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $244k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 622 days — a 12% lower offer ($766k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $175k; list at $870k implies a 397% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance); severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $765,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 622 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.31% ✓
• Cap rate: 9.53%
• Cash-on-cash: 11.56%
• DSCR: 1.51
• GRM: 6.4

CMA / ARV

• ARV (median comp): $1,112,944
• List price: $870,000
• Delta: -21.83%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $1,357
• Equity at exit: $129,720

10-year hold

• IRR: 9.9%
• Equity multiple: 1.76×
• Total profit: $186,219
• Equity at exit: $75,222

Cash invested: $243,600 (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 04043

• Home prices YoY: -21.4%
• Active inventory: 132
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $11,379 medium
• Mortgage (P&I): −$4,562
• Tax from tax record: −$846 /mo · $10,157/yr
• Insurance: −$362
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$871
• Vacancy / Maint / Mgmt: −$2,390
• Net cashflow: $2,225

Break-even live

Break-even rent $8,563

Max offer price $870,000

Occupancy floor 75%

Sensitivity live

Price	-10% $2,717	-5% $2,471	+0% $2,225	+5% $1,979	+10% $1,732
Rent	-10% $1,326	-5% $1,775	+0% $2,225	+5% $2,674	+10% $3,124
Rate	-1.0pp $2,663	-0.5pp $2,446	base $2,225	+0.5pp $1,999	+1.0pp $1,770

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: $217,500
• Closing costs: $26,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8 Railroad Ave Unit 1532212P Kennebunk, ME	3.0	1.0	893	$11,379	$12.74	22d	1	0.69mi

HOA detail condo

• Monthly dues: $871 · $10,452/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $870,000 Active 622 DOM
2. 2026-06-17
   days on market $870,000 Active 621 DOM
3. 2026-06-16
   days on market $870,000 Active 620 DOM
4. 2026-06-15
   days on market $870,000 Active 619 DOM
5. 2026-06-14
   days on market $870,000 Active 617 DOM
6. 2026-06-10
   days on market $870,000 Active 614 DOM
7. 2026-06-09
   days on market $870,000 Active 613 DOM
8. 2026-06-08
   days on market $870,000 Active 612 DOM
9. 2026-06-07
   days on market $870,000 Active 611 DOM
10. 2026-06-05
    days on market $870,000 Active 608 DOM
11. 2026-06-03
    days on market $870,000 Active 607 DOM
12. 2026-06-02
    days on market $870,000 Active 606 DOM
13. 2026-06-01
    days on market $870,000 Active 605 DOM
14. 2026-05-31
    days on market $870,000 Active 604 DOM
15. 2026-05-30
    days on market $870,000 Active 603 DOM
16. 2025-08-18
    price $870,000 555-char remark

    Show marketing remark (555 chars)

    Nestled in the desirable Narragansett condo complex at Kennebunk Beach, this updated 2-bedroom, 2.5-bath condo offers coastal living at its finest. The kitchen features sleek granite countertops, while the open-concept living space boasts hardwood floors throughout. Enjoy ocean views from your private side deck, perfect for relaxing or entertaining. Residents have access to exclusive amenities, including tennis courts and an in-ground pool, all within a short stroll to the beach. Ideal for those seeking a serene seaside retreat with modern comforts.

17. 2024-12-04
    price $949,000 555-char remark

    Show marketing remark (555 chars)

    Nestled in the desirable Narragansett condo complex at Kennebunk Beach, this updated 2-bedroom, 2.5-bath condo offers coastal living at its finest. The kitchen features sleek granite countertops, while the open-concept living space boasts hardwood floors throughout. Enjoy ocean views from your private side deck, perfect for relaxing or entertaining. Residents have access to exclusive amenities, including tennis courts and an in-ground pool, all within a short stroll to the beach. Ideal for those seeking a serene seaside retreat with modern comforts.

18. 2024-10-22
    price $989,000 555-char remark

    Show marketing remark (555 chars)

    Nestled in the desirable Narragansett condo complex at Kennebunk Beach, this updated 2-bedroom, 2.5-bath condo offers coastal living at its finest. The kitchen features sleek granite countertops, while the open-concept living space boasts hardwood floors throughout. Enjoy ocean views from your private side deck, perfect for relaxing or entertaining. Residents have access to exclusive amenities, including tennis courts and an in-ground pool, all within a short stroll to the beach. Ideal for those seeking a serene seaside retreat with modern comforts.

19. 2024-10-04
    listed $1,100,000 Active 555-char remark

    Show marketing remark (555 chars)

    Nestled in the desirable Narragansett condo complex at Kennebunk Beach, this updated 2-bedroom, 2.5-bath condo offers coastal living at its finest. The kitchen features sleek granite countertops, while the open-concept living space boasts hardwood floors throughout. Enjoy ocean views from your private side deck, perfect for relaxing or entertaining. Residents have access to exclusive amenities, including tennis courts and an in-ground pool, all within a short stroll to the beach. Ideal for those seeking a serene seaside retreat with modern comforts.

20. 1998-06-08
    soldstatus $175,000

ⓘ 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: $10,157 · $846/mo
• Projected year-2 tax: $10,994 · $916/mo
• Expected delta: +$838/yr (+$70/mo · 8.2%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AO · 95% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥85°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $136,548
• − Mortgage interest: −$48,734
• − Property taxes: −$10,157
• − Insurance: −$5,818
• − Repairs & maintenance: −$10,924
• − Management: −$10,924
• − HOA: −$10,452
• − Depreciation: −$25,309
• Taxable income: $14,231
• Est. tax owed @ 24.0%: −$3,415
• After-tax cash flow: $23,282/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: RSU 21
• NCES district ID: 2314773
• Math proficiency: 91% ▲ 34.00%
• Reading proficiency: 94% ▲ 20.00%
• Median HH income: $68,462
• Composite: 79.78/100
• National rank: #55
• State rank: #13 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): 11,692

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 (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 2% Asian 2%
• Common ancestry: Lithuanian 8% Slovak 5% Serbian 3%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 95% English-only · French/Haitian/Cajun 2% Spanish 2% German/W. Germanic 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: ▼ -108.54%
• Current HPI: 398.495
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+397.1% since first listed

5 events — show timeline

• 2025-08-18 Price Changed $870,000 MREIS
• 2024-12-04 Price Changed $949,000 MREIS
• 2024-10-22 Price Changed $989,000 MREIS
• 2024-10-04 Listed $1,100,000 MREIS
• 1998-06-08 Sold (Public Records) $175,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $10,157 · +32.5% YoY. Source: county tax records.