23 College Dr · Wells, ME 04090

$89,500

1 bd · 1.0 ba · 408 sqft · Manufactured public records · 34 Days on market

Built 2008

---

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

Listing remarks

Seasonal getaway park home at SeaVu West Resort. 5 different sleeping areas allows 9 to sleep comfortably. Open concept kitchen with cathedral ceilings and 3 season Florida room. A second floor enclosed loft with air conditioning and privacy. Queen sized bed in master and twin beds in the second bedroom. Living room has Queen sleep sofa and Florida room has a full size sleep sofa. The home has propane heat and central air conditioning. New stainless appliances and full size washer dryer. Included outside is table, chairs, fire pit, Weber gas grill and custom wood shed with plenty of storage. Metal roof for easy maintenance. The park has heated pool, playground, pickle ball court and basketb

Key facts

• Weber gas grill
• Open concept kitchen
• Fire pit

Tags

• OPEN CONCEPT KITCHEN
• THREE SEASON FLORIDA ROOM
• NEW STAINLESS APPLIANCES
• FULL SIZE WASHER DRYER
• FIRE PIT
• WEBER GAS GRILL

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $956 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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: 267 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 $619 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,815 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.13% ✓
• Cap rate: 19.12%
• Cash-on-cash: 45.80%
• DSCR: 3.04
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $39,984
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 College Dr #412	0.00mi	2/1.0 (+1)	407 (-0%)	17mo	$40,000	$98	80

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 43.0%
• Equity multiple: 2.85×
• Total profit: $46,399
• Equity at exit: $13,345

10-year hold

• IRR: 49.0%
• Equity multiple: 5.74×
• Total profit: $118,784
• Equity at exit: $7,738

Cash invested: $25,060 (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: 267
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,904 medium
• Mortgage (P&I): −$469
• Tax from tax record: −$41 /mo · $493/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $956

Break-even live

Break-even rent $693

Max offer price $89,500

Occupancy floor 45%

Sensitivity live

Price	-10% $1,007	-5% $982	+0% $956	+5% $931	+10% $906
Rent	-10% $806	-5% $881	+0% $956	+5% $1,032	+10% $1,107
Rate	-1.0pp $1,002	-0.5pp $979	base $956	+0.5pp $933	+1.0pp $910

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $89,500 Active 34 DOM
2. 2026-06-17
   days on market $89,500 Active 33 DOM
3. 2026-06-16
   days on market $89,500 Active 32 DOM
4. 2026-06-15
   days on market $89,500 Active 31 DOM
5. 2026-06-14
   days on market $89,500 Active 29 DOM
6. 2026-06-13
   days on market $89,500 Active 28 DOM
7. 2026-06-10
   days on market $89,500 Active 26 DOM
8. 2026-06-09
   days on market $89,500 Active 25 DOM
9. 2026-06-08
   days on market $89,500 Active 24 DOM
10. 2026-06-07
    days on market $89,500 Active 23 DOM
11. 2026-06-05
    days on market $89,500 Active 20 DOM
12. 2026-06-03
    days on market $89,500 Active 19 DOM
13. 2026-06-02
    days on market $89,500 Active 18 DOM
14. 2026-06-01
    days on market $89,500 Active 17 DOM
15. 2026-05-31
    days on market $89,500 Active 16 DOM
16. 2026-05-30
    days on market $89,500 Active 15 DOM
17. 2026-05-16
    listed $89,500 Active 944-char remark
18. 2025-09-11
    listed $98,500 Active 1319-char remark

ⓘ 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: $493 · $41/mo
• Projected year-2 tax: $855 · $71/mo
• Expected delta: +$362/yr (+$30/mo · 73.4%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥87°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,848
• − Mortgage interest: −$5,013
• − Property taxes: −$493
• − Insurance: −$448
• − Repairs & maintenance: −$1,828
• − Management: −$1,828
• − Depreciation: −$2,604
• Taxable income: $10,635
• Est. tax owed @ 24.0%: −$2,552
• After-tax cash flow: $8,925/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 — Wells

No livability data for this city. (Only ~50 U.S. cities are tracked.)

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

• 2026-05-16 Listed $89,500 FSBO.com

Property tax history

+7.7%/yr

Latest (2025): $493 · +11.3% YoY. Source: county tax records.