6 Laurel Cir #6 · Kennebunk, ME 04043

$500,000

4 bd · 3.0 ba · 1,886 sqft · Condo · 36 Days on market

Built 1981 Average condition $265/sqft · 10% below area Est $555k · 10% under $430/mo HOA · 9% 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 +13.7/30.0
• ARV discount +12.0/15.0
• Schools +8.0/10.0
• 1% rule +4.9/10.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This Kennebunk condo features 4 bedrooms and 3 full baths on one of southern Maine's most desirable coastal communities! This spacious condominium 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. Designed for both everyday living and effortless entertaining, the home features a welcoming open-concept living and dining area anchored by a wood-burning fireplace, eat-in kitchen, and a sun-filled enclosed porch overlooking pri

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

Property features AI

Finance

• HOA & community: Has association; Association fee $430 monthly; Community of 4 units; Pets allowed: 2

Exterior

• Parking: Attached garage; Garage spaces: 1; Common paved parking with 1–4 spaces
• Utilities: Public water; Public sewer; Electric service with circuit breakers
• Home design: Condominium; Cape Cod style; Multi-level
• Construction: Wood frame construction; Vinyl siding; Shingle roof; Crawl space basement with sump pump; Built as multi-level unit
• Exterior features: Glassed-in porch; Patio; Trees/woods view; Near turnpike/interstate; Near town; Neighborhood setting; Located on a cul-de-sac; Level, landscaped lot; Paved road

Interior

• Kitchen: Eat-in kitchen; Pantry; Dishwasher; Electric range; Refrigerator; Disposal
• Bedrooms: Primary bedroom on first floor; Bedroom 2 on first floor; Bedroom 3 on second floor; Bedroom 4 on second floor; Total rooms: 7
• Flooring: Carpet; Tile; Linoleum
• Bathrooms: 3 full bathrooms
• Heating & cooling: Electric heating; Wood heating; Baseboard heating; Ceiling fans
• Interior features: One-floor living; 1st-floor primary bedroom with full bath; Bathtub; Shower; Pantry; Storm door(s); Has fireplace (wood burning); Fireplace total: 1; Furnished: negotiable
• Laundry & utility: Washer and dryer included; Laundry on main level

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath condo listed at $500k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $38 ($461/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $497k (0.7% below list).
• Recommended offer: $485k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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; 1,386 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 $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($485k) 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 $485,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.99% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.33%
• DSCR: 1.01
• GRM: 8.4

CMA / ARV

• ARV (median comp): $555,392
• List price: $500,000
• Delta: -9.97%
• Verdict: FAIR
• Comps: 18 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -15.7%
• Equity multiple: 0.44×
• Total profit: $-78,237
• Equity at exit: $74,552

10-year hold

• IRR: -7.1%
• Equity multiple: 0.55×
• Total profit: $-63,601
• Equity at exit: $43,231

Cash invested: $140,000 (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: 8.4×

Monthly cashflow live

• Estimated rent: $4,967 medium
• Mortgage (P&I): −$2,622
• Tax est. 1.5%: −$625 /mo · $7,500/yr
• Insurance: −$208
• HOA: −$430
• Vacancy / Maint / Mgmt: −$1,043
• Net cashflow: $38

Break-even live

Break-even rent $4,918

Max offer price $500,000

Occupancy floor 94%

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $430 · $5,160/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $500,000 Active 36 DOM
2. 2026-06-17
   days on market $500,000 Active 35 DOM
3. 2026-06-16
   days on market $500,000 Active 34 DOM
4. 2026-06-15
   days on market $500,000 Active 33 DOM
5. 2026-06-14
   days on market $500,000 Active 31 DOM
6. 2026-06-10
   days on market $500,000 Active 28 DOM
7. 2026-06-09
   days on market $500,000 Active 27 DOM
8. 2026-06-08
   days on market $500,000 Active 26 DOM
9. 2026-06-07
   days on market $500,000 Active 25 DOM
10. 2026-06-05
    days on market $500,000 Active 22 DOM
11. 2026-06-03
    days on market $500,000 Active 21 DOM
12. 2026-06-02
    days on market $500,000 Active 20 DOM
13. 2026-06-01
    days on market $500,000 Active 19 DOM
14. 2026-05-31
    days on market $500,000 Active 18 DOM
15. 2026-05-30
    days on market $500,000 Active 17 DOM
16. 2026-05-14
    listed $500,000 Active 1491-char remark

ⓘ 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: $59,602
• − Mortgage interest: −$28,008
• − Property taxes: −$7,500
• − Insurance: −$2,500
• − Repairs & maintenance: −$4,768
• − Management: −$4,768
• − HOA: −$5,160
• − Depreciation: −$14,545
• Taxable loss: −$7,648
• Est. tax savings @ 24.0%: +$1,835
• After-tax cash flow: $2,296/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

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

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · outdated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of replacement	Moderate	$3,000–15,000
exterior paint · some fading	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• 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 ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• Census place: Kennebunk, ME
• 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

-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