473 Tatnic Rd · Cape Neddick, ME 04090

$699,500

5 bd · 2.5 ba · 4,236 sqft · MultiFamily public records · 84 Days on market

Built 1900 5.41 ac lot $165/sqft · 30% below area Est $995k · 30% under ↓ 7% since listing

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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 +19.4/30.0
• ARV discount +15.0/15.0
• Schools +7.6/10.0
• DSCR +6.1/10.0
• 1% rule +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

OPEN HOUSE SUN. MAY 24TH 12PM-2PM. Many options are possible with this quality and versatile property. The house had a recent complete modern remodel done with quality in mind that also includes a new electric service, boiler, and two-family septic system. The first floor offers 3 bedrooms and 1 bath and has over 2000 sq. ft. of living space. (includes a large 3 season room. ) The upstairs, encompassing the top two stories, has 2 bedrooms and 1.5 baths and boasts almost 2000 sq. ft of living area. This property has many options for families or investors alike. Approved by the Town as a 2 family duplex, makes the property ideal for an owner-occupied scenario living in a unit and gaining income from the other or as an investment 2 Unit property. With the expansive sq. footage it could be an ideal extended family residence as well, and with 14 rooms and two large kitchen-dining areas there's a lot of flexibility with the use of space. . Other features include an attached storage garage and adjacent workshop, screened porch, large upper floor deck, shed, and detached 2 car garage. All this sits on a well landscaped 5.41 acre lot. In addition, the property is only 1 mile from Rt. 1, with all the amenities that Rt. 1 and the beaches provide.

Key facts

• New electric service
• Adjacent workshop
• Screened porch

Tags

• RECENT COMPLETE MODERN REMODEL
• NEW ELECTRIC SERVICE
• TWO FAMILY SEPTIC SYSTEM
• ATTACHED STORAGE GARAGE
• ADJACENT WORKSHOP
• SCREENED PORCH

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath multifamily listed at $700k.

Deal economics

• At list price, monthly cash flow is $782 ($9k/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 $648k (7.4% below list).
• Recommended offer: $648k (7.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#58 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A; Watch: amenities F, commute F, cost of living F.
• 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 $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($658k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $126k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 58% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $647,800 (7.4% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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: 0.93% ✗
• Cap rate: 7.63%
• Cash-on-cash: 4.79%
• DSCR: 1.21
• GRM: 9.0

CMA / ARV

• ARV (median comp): $995,427
• List price: $699,500
• Delta: -29.73%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -8.9%
• Equity multiple: 0.67×
• Total profit: $-63,768
• Equity at exit: $104,298

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $7,737
• Equity at exit: $60,480

Cash invested: $195,860 (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: 15.5×

Monthly cashflow live

• Estimated rent: $6,478 medium
• Mortgage (P&I): −$3,668
• Tax from tax record: −$376 /mo · $4,514/yr
• Insurance: −$291
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,360
• Net cashflow: $782

Break-even live

Break-even rent $5,488

Max offer price $699,500

Occupancy floor 83%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	1	$3,751
1× unit	2	1.5	$2,727
Total (2 units)			$6,478

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: $174,875
• Closing costs: $20,985
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-15
   status $699,500 Pending 84 DOM
2. 2026-06-15
   days on market $699,500 Active 84 DOM
3. 2026-06-14
   days on market $699,500 Active 82 DOM
4. 2026-06-13
   days on market $699,500 Active 81 DOM
5. 2026-06-10
   days on market $699,500 Active 79 DOM
6. 2026-06-09
   days on market $699,500 Active 78 DOM
7. 2026-06-08
   days on market $699,500 Active 77 DOM
8. 2026-06-07
   days on market $699,500 Active 76 DOM
9. 2026-06-05
   days on market $699,500 Active 73 DOM
10. 2026-06-03
    pricedays on market $699,500 Active 72 DOM
11. 2026-06-02
    days on market $769,000 Active 71 DOM
12. 2026-06-01
    days on market $769,000 Active 70 DOM
13. 2026-05-31
    days on market $769,000 Active 69 DOM
14. 2026-05-30
    days on market $769,000 Active 68 DOM
15. 2026-04-27
    price $769,000 1255-char remark

    Show marketing remark (1255 chars)

    OPEN HOUSE SUN. MAY 24TH 12PM-2PM. Many options are possible with this quality and versatile property. The house had a recent complete modern remodel done with quality in mind that also includes a new electric service, boiler, and two-family septic system. The first floor offers 3 bedrooms and 1 bath and has over 2000 sq. ft. of living space. (includes a large 3 season room. ) The upstairs, encompassing the top two stories, has 2 bedrooms and 1.5 baths and boasts almost 2000 sq. ft of living area. This property has many options for families or investors alike. Approved by the Town as a 2 family duplex, makes the property ideal for an owner-occupied scenario living in a unit and gaining income from the other or as an investment 2 Unit property. With the expansive sq. footage it could be an ideal extended family residence as well, and with 14 rooms and two large kitchen-dining areas there's a lot of flexibility with the use of space. . Other features include an attached storage garage and adjacent workshop, screened porch, large upper floor deck, shed, and detached 2 car garage. All this sits on a well landscaped 5.41 acre lot. In addition, the property is only 1 mile from Rt. 1, with all the amenities that Rt. 1 and the beaches provide.

16. 2026-04-27
    price $769,000 1156-char remark

    Show marketing remark (1255 chars)

    OPEN HOUSE SUN. MAY 24TH 12PM-2PM. Many options are possible with this quality and versatile property. The house had a recent complete modern remodel done with quality in mind that also includes a new electric service, boiler, and two-family septic system. The first floor offers 3 bedrooms and 1 bath and has over 2000 sq. ft. of living space. (includes a large 3 season room. ) The upstairs, encompassing the top two stories, has 2 bedrooms and 1.5 baths and boasts almost 2000 sq. ft of living area. This property has many options for families or investors alike. Approved by the Town as a 2 family duplex, makes the property ideal for an owner-occupied scenario living in a unit and gaining income from the other or as an investment 2 Unit property. With the expansive sq. footage it could be an ideal extended family residence as well, and with 14 rooms and two large kitchen-dining areas there's a lot of flexibility with the use of space. . Other features include an attached storage garage and adjacent workshop, screened porch, large upper floor deck, shed, and detached 2 car garage. All this sits on a well landscaped 5.41 acre lot. In addition, the property is only 1 mile from Rt. 1, with all the amenities that Rt. 1 and the beaches provide.

17. 2026-04-27
    status Active 1156-char remark

    Show marketing remark (1255 chars)

    OPEN HOUSE SUN. MAY 24TH 12PM-2PM. Many options are possible with this quality and versatile property. The house had a recent complete modern remodel done with quality in mind that also includes a new electric service, boiler, and two-family septic system. The first floor offers 3 bedrooms and 1 bath and has over 2000 sq. ft. of living space. (includes a large 3 season room. ) The upstairs, encompassing the top two stories, has 2 bedrooms and 1.5 baths and boasts almost 2000 sq. ft of living area. This property has many options for families or investors alike. Approved by the Town as a 2 family duplex, makes the property ideal for an owner-occupied scenario living in a unit and gaining income from the other or as an investment 2 Unit property. With the expansive sq. footage it could be an ideal extended family residence as well, and with 14 rooms and two large kitchen-dining areas there's a lot of flexibility with the use of space. . Other features include an attached storage garage and adjacent workshop, screened porch, large upper floor deck, shed, and detached 2 car garage. All this sits on a well landscaped 5.41 acre lot. In addition, the property is only 1 mile from Rt. 1, with all the amenities that Rt. 1 and the beaches provide.

18. 2026-04-27
    status Active 1255-char remark

    Show marketing remark (1255 chars)

    OPEN HOUSE SUN. MAY 24TH 12PM-2PM. Many options are possible with this quality and versatile property. The house had a recent complete modern remodel done with quality in mind that also includes a new electric service, boiler, and two-family septic system. The first floor offers 3 bedrooms and 1 bath and has over 2000 sq. ft. of living space. (includes a large 3 season room. ) The upstairs, encompassing the top two stories, has 2 bedrooms and 1.5 baths and boasts almost 2000 sq. ft of living area. This property has many options for families or investors alike. Approved by the Town as a 2 family duplex, makes the property ideal for an owner-occupied scenario living in a unit and gaining income from the other or as an investment 2 Unit property. With the expansive sq. footage it could be an ideal extended family residence as well, and with 14 rooms and two large kitchen-dining areas there's a lot of flexibility with the use of space. . Other features include an attached storage garage and adjacent workshop, screened porch, large upper floor deck, shed, and detached 2 car garage. All this sits on a well landscaped 5.41 acre lot. In addition, the property is only 1 mile from Rt. 1, with all the amenities that Rt. 1 and the beaches provide.

19. 2026-04-14
    status Pending 1156-char remark

    Show marketing remark (1255 chars)

    OPEN HOUSE SUN. MAY 24TH 12PM-2PM. Many options are possible with this quality and versatile property. The house had a recent complete modern remodel done with quality in mind that also includes a new electric service, boiler, and two-family septic system. The first floor offers 3 bedrooms and 1 bath and has over 2000 sq. ft. of living space. (includes a large 3 season room. ) The upstairs, encompassing the top two stories, has 2 bedrooms and 1.5 baths and boasts almost 2000 sq. ft of living area. This property has many options for families or investors alike. Approved by the Town as a 2 family duplex, makes the property ideal for an owner-occupied scenario living in a unit and gaining income from the other or as an investment 2 Unit property. With the expansive sq. footage it could be an ideal extended family residence as well, and with 14 rooms and two large kitchen-dining areas there's a lot of flexibility with the use of space. . Other features include an attached storage garage and adjacent workshop, screened porch, large upper floor deck, shed, and detached 2 car garage. All this sits on a well landscaped 5.41 acre lot. In addition, the property is only 1 mile from Rt. 1, with all the amenities that Rt. 1 and the beaches provide.

20. 2026-04-14
    status Pending 1255-char remark

    Show marketing remark (1255 chars)

    OPEN HOUSE SUN. MAY 24TH 12PM-2PM. Many options are possible with this quality and versatile property. The house had a recent complete modern remodel done with quality in mind that also includes a new electric service, boiler, and two-family septic system. The first floor offers 3 bedrooms and 1 bath and has over 2000 sq. ft. of living space. (includes a large 3 season room. ) The upstairs, encompassing the top two stories, has 2 bedrooms and 1.5 baths and boasts almost 2000 sq. ft of living area. This property has many options for families or investors alike. Approved by the Town as a 2 family duplex, makes the property ideal for an owner-occupied scenario living in a unit and gaining income from the other or as an investment 2 Unit property. With the expansive sq. footage it could be an ideal extended family residence as well, and with 14 rooms and two large kitchen-dining areas there's a lot of flexibility with the use of space. . Other features include an attached storage garage and adjacent workshop, screened porch, large upper floor deck, shed, and detached 2 car garage. All this sits on a well landscaped 5.41 acre lot. In addition, the property is only 1 mile from Rt. 1, with all the amenities that Rt. 1 and the beaches provide.

21. 2026-04-05
    price $795,000 1156-char remark

    Show marketing remark (1255 chars)

    OPEN HOUSE SUN. MAY 24TH 12PM-2PM. Many options are possible with this quality and versatile property. The house had a recent complete modern remodel done with quality in mind that also includes a new electric service, boiler, and two-family septic system. The first floor offers 3 bedrooms and 1 bath and has over 2000 sq. ft. of living space. (includes a large 3 season room. ) The upstairs, encompassing the top two stories, has 2 bedrooms and 1.5 baths and boasts almost 2000 sq. ft of living area. This property has many options for families or investors alike. Approved by the Town as a 2 family duplex, makes the property ideal for an owner-occupied scenario living in a unit and gaining income from the other or as an investment 2 Unit property. With the expansive sq. footage it could be an ideal extended family residence as well, and with 14 rooms and two large kitchen-dining areas there's a lot of flexibility with the use of space. . Other features include an attached storage garage and adjacent workshop, screened porch, large upper floor deck, shed, and detached 2 car garage. All this sits on a well landscaped 5.41 acre lot. In addition, the property is only 1 mile from Rt. 1, with all the amenities that Rt. 1 and the beaches provide.

22. 2026-04-05
    price $795,000 1255-char remark

    Show marketing remark (1255 chars)

    OPEN HOUSE SUN. MAY 24TH 12PM-2PM. Many options are possible with this quality and versatile property. The house had a recent complete modern remodel done with quality in mind that also includes a new electric service, boiler, and two-family septic system. The first floor offers 3 bedrooms and 1 bath and has over 2000 sq. ft. of living space. (includes a large 3 season room. ) The upstairs, encompassing the top two stories, has 2 bedrooms and 1.5 baths and boasts almost 2000 sq. ft of living area. This property has many options for families or investors alike. Approved by the Town as a 2 family duplex, makes the property ideal for an owner-occupied scenario living in a unit and gaining income from the other or as an investment 2 Unit property. With the expansive sq. footage it could be an ideal extended family residence as well, and with 14 rooms and two large kitchen-dining areas there's a lot of flexibility with the use of space. . Other features include an attached storage garage and adjacent workshop, screened porch, large upper floor deck, shed, and detached 2 car garage. All this sits on a well landscaped 5.41 acre lot. In addition, the property is only 1 mile from Rt. 1, with all the amenities that Rt. 1 and the beaches provide.

23. 2026-03-11
    listed $825,000 Active 1255-char remark

    Show marketing remark (1156 chars)

    OPEN HOUSE SUN. MAY 24TH 12PM-2PM. This is a rare opportunity to own a large 2 unit in Wells. The house had a recent complete modern remodel, done with quality in mind that also included a new electric service, boiler, and Two-Family septic system. The first floor unit offers 3 bedrooms and 1 full bath and has over 2000 sq. ft. of living space. (includes a large 3 season room. ) The upstairs unit, encompassing the top two stories, has 2 bedrooms and 1.5 baths and boasts almost 2000 sq. ft of living area. This property has many options for investors an families alike. Although the units do not have a rental history at this time, the sheer size and quality of the units should offer the potential for high return on investment. This property would also be great for an owner-occupied scenario or as a large extended family residence. Other features include an attached storage garage with adjacent workshop, screened porch, large upper floor deck, shed, and detached 2 car garage. All this sits on a well landscaped 5.41 acre lot. To top it off, the property is only about 1 mile from Rt. 1, with all the amenities that Rt. 1 and the beaches provide.

24. 2026-03-11
    listed $825,000 Active 1156-char remark

    Show marketing remark (1156 chars)

    OPEN HOUSE SUN. MAY 24TH 12PM-2PM. This is a rare opportunity to own a large 2 unit in Wells. The house had a recent complete modern remodel, done with quality in mind that also included a new electric service, boiler, and Two-Family septic system. The first floor unit offers 3 bedrooms and 1 full bath and has over 2000 sq. ft. of living space. (includes a large 3 season room. ) The upstairs unit, encompassing the top two stories, has 2 bedrooms and 1.5 baths and boasts almost 2000 sq. ft of living area. This property has many options for investors an families alike. Although the units do not have a rental history at this time, the sheer size and quality of the units should offer the potential for high return on investment. This property would also be great for an owner-occupied scenario or as a large extended family residence. Other features include an attached storage garage with adjacent workshop, screened porch, large upper floor deck, shed, and detached 2 car garage. All this sits on a well landscaped 5.41 acre lot. To top it off, the property is only about 1 mile from Rt. 1, with all the amenities that Rt. 1 and the beaches provide.

ⓘ 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: $4,514 · $376/mo
• Projected year-2 tax: $7,014 · $584/mo
• Expected delta: +$2,500/yr (+$208/mo · 55.4%)

ⓘ 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 ≥88°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% 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: $77,736
• − Mortgage interest: −$39,183
• − Property taxes: −$4,514
• − Insurance: −$3,498
• − Repairs & maintenance: −$6,219
• − Management: −$6,219
• − Depreciation: −$20,349
• Taxable loss: −$2,245
• Est. tax savings @ 24.0%: +$539
• After-tax cash flow: $9,920/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 — Cape Neddick

• Score: 72/100
• State rank: #58
• US rank: #6028

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment A+ Housing A Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

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

-6.8% since first listed

10 events — show timeline

• 2026-04-27 Price Changed $769,000 MREIS
• 2026-04-27 Price Changed $769,000 MREIS
• 2026-04-27 Relisted — MREIS
• 2026-04-27 Relisted — MREIS
• 2026-04-14 Pending — MREIS
• 2026-04-14 Pending — MREIS
• 2026-04-05 Price Changed $795,000 MREIS
• 2026-04-05 Price Changed $795,000 MREIS
• 2026-03-11 Listed $825,000 MREIS
• 2026-03-11 Listed $825,000 MREIS

Property tax history

+3.6%/yr

Latest (2025): $4,514 · +6.2% YoY. Source: county tax records.