117 Bears Den Rd #80 · Wells, ME 04090

$73,000

2 bd · 1.0 ba · 396 sqft · Manufactured public records · 41 Days on market

Built 2018 $184/sqft · 104% above area Est $57k · 29% over $325/mo HOA · 15% of rent ↓ 8% since listing

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

Listing remarks

Do not wait, this is the best deal by far. Park rent and propane for 2026 season is included with the sale. Just in time for the start of the beach season. This loft unit camp was built in 2018 and is in like new condition. The Lakeside by Kropf is light and airy and offers 2 bedrooms and a 8X24 3 season room. There is a 5X8 covered deck and a very large corner lot situated in Bears Den Park & Community The park offers pool, horseshoe pit, fitness room, clubhouse, putting green, croquet court, fire pits and coin laundry. Close to the beach, shopping and all southern Maine attractions. The seasonal fee is 3,899 and includes water, sewer and electricity. There is a 1,000.00 entry fee.

Key facts

• Pool
• Built 2018
• Listed 41 days

Property features AI

Finance

• Financial info: Subject to a land lease
• HOA & community: Has association; Annual association fee of $3,899; Breed-restricted pets allowed

Exterior

• Parking: On-site parking
• Utilities: Circuit breaker electric; Shared septic; Private seasonal water source; Gas water heater
• Home design: Mobile home; Pitched shingle roof; 2018 construction
• Construction: Vinyl siding; Built in 2018
• Exterior features: Near golf course; Near public beach; Corner lot; Level lot; Gravel road access; In-ground pool

Interior

• Kitchen: Microwave; Gas range; Refrigerator
• Bedrooms: Bedroom on the first floor; Bedroom on the second floor
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Direct vent heater; Central air conditioning
• Interior features: First-floor bedroom; Cable available; Total of 5 rooms
• Laundry & utility: Coin laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $73k.

Deal economics

• At list price, monthly cash flow is $945 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $73k).
• Recommended offer: $71k (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.
• 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 $505 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($71k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,810 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 3.02% ✓
• Cap rate: 21.83%
• Cash-on-cash: 55.48%
• DSCR: 3.47
• GRM: 2.8

CMA / ARV

• ARV (median comp): $56,721
• List price: $73,000
• Delta: 28.70%
• Verdict: OVERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 Bears Den Rd #57	0.00mi	1/1.0 (-1)	396 (0%)	8mo	$37,500	$95	88
117 Bears Den Rd #16	0.00mi	2/1.0	384 (-3%)	20mo	$20,000	$52	78
117 Bears Den Rd #34	0.00mi	1/1.0 (-1)	450 (+14%)	9mo	$26,000	$58	65

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: 53.9%
• Equity multiple: 3.38×
• Total profit: $48,568
• Equity at exit: $10,885

10-year hold

• IRR: 59.1%
• Equity multiple: 6.90×
• Total profit: $120,650
• Equity at exit: $6,312

Cash invested: $20,440 (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: 2.8×

Monthly cashflow live

• Estimated rent: $2,201 medium
• Mortgage (P&I): −$383
• Tax from tax record: −$56 /mo · $670/yr
• Insurance: −$30
• HOA: −$325
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $945

Break-even live

Break-even rent $1,005

Max offer price $73,000

Occupancy floor 52%

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: $18,250
• Closing costs: $2,190
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $325 · $3,900/yr
• Likely covers: watersewerelectricpool

Listing history 18 events

1. 2026-06-18
   days on market $73,000 Active 41 DOM
2. 2026-06-17
   days on market $73,000 Active 40 DOM
3. 2026-06-16
   days on market $73,000 Active 39 DOM
4. 2026-06-15
   days on market $73,000 Active 38 DOM
5. 2026-06-14
   days on market $73,000 Active 36 DOM
6. 2026-06-13
   days on market $73,000 Active 35 DOM
7. 2026-06-10
   days on market $73,000 Active 33 DOM
8. 2026-06-09
   days on market $73,000 Active 32 DOM
9. 2026-06-08
   days on market $73,000 Active 31 DOM
10. 2026-06-07
    days on market $73,000 Active 30 DOM
11. 2026-06-05
    days on market $73,000 Active 27 DOM
12. 2026-06-03
    remarks 695-char remark
13. 2026-06-03
    days on market $73,000 Active 26 DOM
14. 2026-06-02
    days on market $73,000 Active 25 DOM
15. 2026-06-01
    days on market $73,000 Active 24 DOM
16. 2026-05-31
    days on market $73,000 Active 23 DOM
17. 2026-05-30
    days on market $73,000 Active 22 DOM
18. 2026-05-08
    listed $79,500 Active 678-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: $670 · $56/mo
• Projected year-2 tax: $831 · $69/mo
• Expected delta: +$161/yr (+$13/mo · 24.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥92°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $26,416
• − Mortgage interest: −$4,089
• − Property taxes: −$670
• − Insurance: −$365
• − Repairs & maintenance: −$2,113
• − Management: −$2,113
• − HOA: −$3,900
• − Depreciation: −$2,124
• Taxable income: $11,042
• Est. tax owed @ 24.0%: −$2,650
• After-tax cash flow: $8,690/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

-8.2% since first listed

2 events — show timeline

• 2026-05-22 Price Changed $73,000 MREIS
• 2026-05-08 Listed $79,500 MREIS

Property tax history

+30.7%/yr

Latest (2025): $670 · +8.6% YoY. Source: county tax records.