6 Laurel Cir #6 · Kennebunk, ME 04043

$490,000

4 bd · 3.0 ba · 1,886 sqft · Condo · 87 Days on market

Built 1981 Average condition Garage $260/sqft · 14% below area Est $569k · 14% under $430/mo HOA · 11% of rent

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Why this score? — see what drove the D 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).

• ARV discount +13.7/15.0
• Schools +9.4/10.0
• Cash flow +7.1/30.0
• Livability +4.0/5.0
• 1% rule +3.1/10.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Almost 1900 sq' with 4 bedrooms (2 on the first floor) and 3 full baths! This Kennebunk condo sits in one of southern Maine's most desirable coastal communities, and offers an exceptional opportunity to enjoy comfort, convenience, and carefree living. Just minutes from downtown Kennebunk, area beaches, and I-95. Tucked within a quiet, desirable association, the home has been thoughtfully maintained over the years and presents an ideal canvas for updates and personalization over time.

Key facts

• Open-concept living
• Outdoor patio
• $430 HOA

Tags

• OPEN-CONCEPT LIVING
• WOOD-BURNING FIREPLACE
• SUN-FILLED ENCLOSED PORCH
• PRIVATE WOODED SURROUNDINGS
• OUTDOOR PATIO
• FIRST-FLOOR PRIMARY SUITE

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath condo listed at $490k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-692 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $390k (20.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $395k (19.3% below list).
• Recommended offer: $390k (20.4% below list) — sets the bar for cash-flow.
• Cap rate 4.6% vs local median 2.5% 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.
• 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.
• Zoned schools: Kennebunk Elementary School (358 students, 9% FRL); Middle School of The Kennebunks (math 92% / reading 96%, grade A+, #5 of 85 statewide, top 5%, 479 students, 11% FRL); Kennebunk High School (math 98% / reading 92%, grade A+, #18 of 108 statewide, top 22%, 756 students, 11% FRL).
• Market conditions: 182 active listings in the ZIP; solid renter incomes; 1,386 units permitted in York County in 2024 (338 in 5+ unit buildings).
• At $3,955/mo this rent would consume 47% of the median local household income ($101k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($461k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 62% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $389,873 (20.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.81% ✗
• Cap rate: 4.60%
• Cash-on-cash: -6.05%
• DSCR: 0.73
• GRM: 10.3

CMA / ARV

• ARV (median comp): $568,695
• List price: $490,000
• Delta: -13.84%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19 Old Alewive Rd	0.63mi	4/2.0	1,797 (-5%)	2mo	$600,000	$334	58
10 Lexington Dr #9	0.83mi	3/2.5 (-1)	1,900 (+1%)	2mo	$805,000	$424	55
28 Woodhaven Dr	0.36mi	3/2.0 (-1)	1,668 (-12%)	0mo	$680,000	$408	55
66 Stratford Pl #41	1.07mi	3/2.5 (-1)	1,797 (-5%)	2mo	$574,900	$320	49
5 Hardwood Ln	0.57mi	4/2.5	2,119 (+12%)	3mo	$905,000	$427	48
33 Woodhaven Dr	0.39mi	3/2.0 (-1)	1,568 (-17%)	3mo	$675,000	$430	45
15 Dane St	1.19mi	4/3.5	2,093 (+11%)	1mo	$858,143	$410	44
7 Coastal Woods Dr #102	0.71mi	3/2.5 (-1)	2,097 (+11%)	2mo	$564,900	$269	39
7 Cambridge Ct #7	1.21mi	3/3.0 (-1)	1,653 (-12%)	2mo	$569,000	$344	38
17 Hampton Glen Dr #5	1.21mi	3/2.5 (-1)	1,653 (-12%)	3mo	$510,000	$309	35
7 Windsor Commons Dr #7	0.94mi	3/3.0 (-1)	1,576 (-16%)	3mo	$510,000	$324	32
62 Warrens Way	1.20mi	3/2.0 (-1)	1,416 (-25%)	2mo	$440,000	$311	30

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: -26.6%
• Equity multiple: 0.10×
• Total profit: $-123,148
• Equity at exit: $73,061

10-year hold

• IRR: -23.6%
• Equity multiple: -0.19×
• Total profit: $-162,668
• Equity at exit: $42,366

Cash invested: $137,200 (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 →

Active competition Active MLS

• For sale now: 0 active · 2 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 04043

• Home prices YoY: -21.4%
• Active inventory: 182
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $3,955 medium
• Mortgage (P&I): −$2,570
• Tax est. 1.5%: −$612 /mo · $7,350/yr
• Insurance: −$204
• HOA: −$430
• Vacancy / Maint / Mgmt: −$831
• Net cashflow: $-692

Break-even live

Break-even rent $4,831

Max offer price $389,873

Occupancy floor —

Sensitivity live

Price	-10% $-353	-5% $-523	+0% $-692	+5% $-861	+10% $-1,031
Rent	-10% $-1,004	-5% $-848	+0% $-692	+5% $-536	+10% $-380
Rate	-1.0pp $-445	-0.5pp $-567	base $-692	+0.5pp $-819	+1.0pp $-948

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: $122,500
• Closing costs: $14,700
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• HOA & community: Has associationAssociation fee $430 monthlyCommunity of 4 unitsPets allowed: 2

Exterior

• Parking: Attached garageGarage spaces: 1Common paved parking with 1–4 spaces
• Utilities: Public waterPublic sewerElectric service with circuit breakers
• Home design: CondominiumCape Cod styleMulti-level
• Construction: Wood frame constructionVinyl sidingShingle roofCrawl space basement with sump pumpBuilt as multi-level unit
• Exterior features: Glassed-in porchPatioTrees/woods viewNear turnpike/interstateNear townNeighborhood settingLocated on a cul-de-sacLevel, landscaped lotPaved road

Interior

• Kitchen: Eat-in kitchenPantryDishwasherElectric rangeRefrigeratorDisposal
• Bedrooms: Primary bedroom on first floorBedroom 2 on first floorBedroom 3 on second floorBedroom 4 on second floorTotal rooms: 7
• Flooring: CarpetTileLinoleum
• Bathrooms: 3 full bathrooms
• Heating & cooling: Electric heatingWood heatingBaseboard heatingCeiling fans
• Interior features: One-floor living1st-floor primary bedroom with full bathBathtubShowerPantryStorm door(s)Has fireplace (wood burning)Fireplace total: 1Furnished: negotiable
• Laundry & utility: Washer and dryer includedLaundry on main level

HOA detail $430/mo · $5,160/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $490,000 Active 87 DOM
2. 2026-08-07
   days on market $490,000 Active 86 DOM
3. 2026-08-06
   days on market $490,000 Active 85 DOM
4. 2026-08-05
   days on market $490,000 Active 84 DOM
5. 2026-08-04
   days on market $490,000 Active 83 DOM
6. 2026-08-03
   days on market $490,000 Active 82 DOM
7. 2026-07-31
   days on market $490,000 Active 79 DOM
8. 2026-07-30
   days on market $490,000 Active 78 DOM
9. 2026-07-29
   days on market $490,000 Active 77 DOM
10. 2026-07-27
    days on market $490,000 Active 75 DOM
11. 2026-07-25
    days on market $490,000 Active 73 DOM
12. 2026-07-23
    price $490,000 Active 71 DOM
13. 2026-07-23
    days on market $500,000 Active 71 DOM
14. 2026-07-22
    days on market $500,000 Active 70 DOM
15. 2026-07-21
    days on market $500,000 Active 69 DOM
16. 2026-07-18
    days on market $500,000 Active 66 DOM
17. 2026-07-16
    days on market $500,000 Active 64 DOM
18. 2026-07-16
    days on market $500,000 Active 63 DOM
19. 2026-07-14
    days on market $500,000 Active 62 DOM
20. 2026-07-14
    days on market $500,000 Active 61 DOM
21. 2026-07-12
    days on market $500,000 Active 60 DOM
22. 2026-07-11
    days on market $500,000 Active 59 DOM
23. 2026-07-10
    days on market $500,000 Active 58 DOM
24. 2026-07-09
    days on market $500,000 Active 57 DOM
25. 2026-07-08
    days on market $500,000 Active 56 DOM
26. 2026-07-07
    days on market $500,000 Active 55 DOM
27. 2026-07-06
    days on market $500,000 Active 54 DOM
28. 2026-07-05
    days on market $500,000 Active 53 DOM
29. 2026-07-04
    days on market $500,000 Active 52 DOM
30. 2026-07-03
    days on market $500,000 Active 51 DOM
31. 2026-07-02
    days on market $500,000 Active 50 DOM
32. 2026-07-01
    days on market $500,000 Active 49 DOM
33. 2026-06-30
    days on market $500,000 Active 48 DOM
34. 2026-06-29
    days on market $500,000 Active 47 DOM
35. 2026-06-28
    days on market $500,000 Active 46 DOM
36. 2026-06-28
    days on market $500,000 Active 45 DOM
37. 2026-06-27
    days on market $500,000 Active 44 DOM
38. 2026-06-25
    days on market $500,000 Active 42 DOM
39. 2026-06-23
    days on market $500,000 Active 40 DOM
40. 2026-06-22
    days on market $500,000 Active 39 DOM
41. 2026-06-18
    days on market $500,000 Active 36 DOM
42. 2026-06-17
    days on market $500,000 Active 35 DOM
43. 2026-06-16
    days on market $500,000 Active 34 DOM
44. 2026-06-15
    days on market $500,000 Active 33 DOM
45. 2026-06-14
    days on market $500,000 Active 31 DOM
46. 2026-06-10
    days on market $500,000 Active 28 DOM
47. 2026-06-09
    days on market $500,000 Active 27 DOM
48. 2026-06-08
    days on market $500,000 Active 26 DOM
49. 2026-06-07
    days on market $500,000 Active 25 DOM
50. 2026-06-05
    days on market $500,000 Active 22 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥90°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,458
• − Mortgage interest: −$27,448
• − Property taxes: −$7,350
• − Insurance: −$2,450
• − Repairs & maintenance: −$3,797
• − Management: −$3,797
• − HOA: −$5,160
• − Depreciation: −$14,255
• Taxable loss: −$16,797
• Est. tax savings @ 24.0%: +$4,031
• After-tax cash flow: $-4,272/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.

Condition & rehab AI · 12 photos

Average 55/100 Moderate rehab Est. rehab $47,150–$84,870 screening

This Kennebunk condo presents an average condition with moderate rehab needs, offering a good canvas for updates and personalization.

Repairs flagged

• Moderate kitchen cabinets — outdated and in need of replacement
• Moderate bathroom fixtures — dated and in need of replacement
• Minor exterior paint — some fading

Value-add opportunities

• Resale paint interior walls — fresh paint enhances curb appeal ↑
• Resale replace kitchen cabinets — new cabinets improve functionality and aesthetics ↑
• Resale replace bathroom fixtures — new fixtures enhance functionality and aesthetics ↑
• Both landscaping — improved landscaping enhances curb appeal and adds value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

A Composite school gradezoned avg 94/100

Zoned Schools

Elementary Kennebunk Elementary School Middle Middle School Of The Kennebunks A+ ME #5/85 Nat'l #20/14,009 High Kennebunk High School A+ ME #18/108 Nat'l #152/17,239

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

B Composite livability gradescore 79/100

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

• Census place: Kennebunk, ME
• County: York · 209,961 people
• Metro: Portland-South Portland, ME
• Population (ZIP): 11,692
• Household income: $101,204
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 13% of renters

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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%

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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%

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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

Property features AI

Finance

• HOA & community: Has associationAssociation fee $430 monthlyCommunity of 4 unitsPets allowed: 2

Exterior

• Parking: Attached garageGarage spaces: 1Common paved parking with 1–4 spaces
• Utilities: Public waterPublic sewerElectric service with circuit breakers
• Home design: CondominiumCape Cod styleMulti-level
• Construction: Wood frame constructionVinyl sidingShingle roofCrawl space basement with sump pumpBuilt as multi-level unit
• Exterior features: Glassed-in porchPatioTrees/woods viewNear turnpike/interstateNear townNeighborhood settingLocated on a cul-de-sacLevel, landscaped lotPaved road

Interior

• Kitchen: Eat-in kitchenPantryDishwasherElectric rangeRefrigeratorDisposal
• Bedrooms: Primary bedroom on first floorBedroom 2 on first floorBedroom 3 on second floorBedroom 4 on second floorTotal rooms: 7
• Flooring: CarpetTileLinoleum
• Bathrooms: 3 full bathrooms
• Heating & cooling: Electric heatingWood heatingBaseboard heatingCeiling fans
• Interior features: One-floor living1st-floor primary bedroom with full bathBathtubShowerPantryStorm door(s)Has fireplace (wood burning)Fireplace total: 1Furnished: negotiable
• Laundry & utility: Washer and dryer includedLaundry on main level

Price history

-1.0% since first listed

3 events — show timeline

• 2026-05-14 Listed $500,000 MREIS
• 2026-01-05 Delisted — MREIS
• 2025-11-06 Listed $505,000 MREIS