952 Post Rd #7 · Wells, ME 04090

$319,900

2 bd · 1.0 ba · 875 sqft · Condo public records · 35 Days on market

Built 1987 $366/sqft · 40% above area Est $284k · 13% over $460/mo HOA · 6% of rent

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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 +1.9/15.0
• Appreciation +0.0/10.0

Listing remarks

Refreshed 2nd story 2 level condo at Colonial Square at the heart of Wells retail district and minutes from area Beaches, and the local town vibe. The unit is a spacious open cathedral ceiling space with 2 bedrooms on one level and a large open living, dining and kitchen area plus a main bathroom and laundry area. The kitchen boasts stainless appliances and granite counters. A large 3rd floor space can be flex space for a 3rd BR , office or den. The cool Interior is complimented with light wood grain laminate floors and a calming light gray wall surface. Bonus for 1 year for the lucky owner a 1 year Gym membership at Millers Gym, right in the same complex. Live and work and work out right i

Key facts

• $460 HOA
• 21 parking spots
• Built 1987

Property features AI

Finance

• Other: Zoning: GB
• HOA & community: Community of 6 units; Monthly association fee of $460; No dogs allowed

Exterior

• Parking: On-site paved parking with 21+ spaces (common)
• Security: Fire system
• Utilities: Public water; Public sewer; Electric water heater (electric); Utilities currently on
• Home design: Condominium; Multi-level; Building faces the road; Built in 1987
• Construction: Wood frame construction with clapboard and vinyl siding; Composition shingle roof; Slab foundation
• Exterior features: Deck; Level lot; Sidewalks; Located in a business district, intown and near shopping, near public beach and golf course; Near turnpike/interstate and railroad; Retail strip nearby; Paved road

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Bedroom 1 on the first floor with closet; Bedroom 2 on the first floor with closet; Bonus room on the second floor
• Flooring: Laminate; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Direct vent heater; Heat pump; Wall unit cooling; Circuit breaker electrical
• Interior features: First-floor bedroom; Bathtub; One-floor living; Internet access available; 5 total rooms
• Laundry & utility: Washer and dryer included; Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $320k.

Deal economics

• At list price, monthly cash flow is $4k ($47k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $320k).
• Recommended offer: $310k (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 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $90k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 10y ago 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, 61% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $310,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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. 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.
6. 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.
7. 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: 2.50% ✓
• Cap rate: 20.90%
• Cash-on-cash: 52.16%
• DSCR: 3.32
• GRM: 3.3

CMA / ARV

• ARV (median comp): $284,305
• List price: $319,900
• Delta: 12.52%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 50.1%
• Equity multiple: 3.19×
• Total profit: $196,404
• Equity at exit: $47,698

10-year hold

• IRR: 55.6%
• Equity multiple: 6.49×
• Total profit: $491,368
• Equity at exit: $27,659

Cash invested: $89,572 (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: 3.3×

Monthly cashflow live

• Estimated rent: $7,992 medium
• Mortgage (P&I): −$1,678
• Tax from tax record: −$149 /mo · $1,789/yr
• Insurance: −$133
• HOA: −$460
• Vacancy / Maint / Mgmt: −$1,678
• Net cashflow: $3,894

Break-even live

Break-even rent $3,063

Max offer price $319,900

Occupancy floor 46%

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: $79,975
• Closing costs: $9,597
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
392 Post Rd Unit 1532216P Wells, ME	2.0	1.0	710	$7,992	$11.26	21d	1	1.37mi

HOA detail condo

• Monthly dues: $460 · $5,520/yr
• Likely covers: gym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-18
   days on market $319,900 Active 35 DOM
2. 2026-06-17
   days on market $319,900 Active 34 DOM
3. 2026-06-16
   days on market $319,900 Active 33 DOM
4. 2026-06-15
   days on market $319,900 Active 32 DOM
5. 2026-06-14
   days on market $319,900 Active 30 DOM
6. 2026-06-13
   days on market $319,900 Active 29 DOM
7. 2026-06-10
   days on market $319,900 Active 27 DOM
8. 2026-06-09
   days on market $319,900 Active 26 DOM
9. 2026-06-08
   days on market $319,900 Active 25 DOM
10. 2026-06-07
    days on market $319,900 Active 24 DOM
11. 2026-06-05
    days on market $319,900 Active 21 DOM
12. 2026-06-03
    days on market $319,900 Active 20 DOM
13. 2026-06-02
    days on market $319,900 Active 19 DOM
14. 2026-06-01
    days on market $319,900 Active 18 DOM
15. 2026-05-31
    days on market $319,900 Active 17 DOM
16. 2026-05-30
    days on market $319,900 Active 16 DOM
17. 2026-05-15
    historical $2,500
18. 2026-05-14
    listed $319,900 Active 981-char remark
19. 2026-05-13
    listed $2,500
20. 2024-09-18
    historical $2,500
21. 2024-06-21
    listed $2,500
22. 2023-12-11
    soldstatus $299,900 Closed 321-char remark
23. 2023-12-07
    status Pending 321-char remark
24. 2023-11-24
    status Pending 321-char remark
25. 2023-11-21
    historical Active Under Contract 321-char remark
26. 2023-11-13
    price $299,900 321-char remark
27. 2023-10-16
    listed $335,000 Active 321-char remark
28. 2019-12-09
    soldstatus $196,000 Closed
29. 2019-11-08
    status Pending - Continue to Show
30. 2019-10-28
    listed $199,000 Active
31. 2019-04-05
    soldstatus $193,000 Closed
32. 2019-03-20
    status Pending
33. 2019-03-09
    listed $199,000 Active

ⓘ 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: $1,789 · $149/mo
• Projected year-2 tax: $3,070 · $256/mo
• Expected delta: +$1,281/yr (+$107/mo · 71.6%)

ⓘ 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 5/10 Major 7 d/yr ≥87°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% 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: $95,904
• − Mortgage interest: −$17,919
• − Property taxes: −$1,789
• − Insurance: −$1,600
• − Repairs & maintenance: −$7,672
• − Management: −$7,672
• − HOA: −$5,520
• − Depreciation: −$9,306
• Taxable income: $44,425
• Est. tax owed @ 24.0%: −$10,662
• After-tax cash flow: $36,063/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

-95.8% since first listed

26 events — show timeline

• 2026-05-15 Rental Removed $2,500 RENTSPREE
• 2026-05-14 Listed $319,900 MREIS
• 2026-05-13 Listed for Rent $2,500 RENTSPREE
• 2024-11-15 Delisted — MREIS
• 2024-10-22 Listed $330,000 MREIS
• 2024-09-18 Rental Removed $2,500 RENTSPREE
• 2024-06-21 Listed for Rent $2,500 RENTSPREE
• 2024-06-13 Delisted — MREIS
• 2024-05-16 Pending — MREIS
• 2024-05-11 Relisted — MREIS
• 2024-05-02 Delisted — MREIS
• 2024-04-11 Listed $330,000 MREIS
• 2023-12-11 Sold (MLS) $299,900 MREIS
• 2023-12-07 Pending — MREIS
• 2023-11-24 Pending — MREIS
• 2023-11-21 Contingent — MREIS
• 2023-11-13 Price Changed $299,900 MREIS
• 2023-10-16 Listed $335,000 MREIS
• 2019-12-09 Sold (MLS) $196,000 MREIS
• 2019-11-08 Pending — MREIS
• 2019-10-28 Listed $199,000 MREIS
• 2019-04-05 Sold (MLS) $193,000 MREIS
• 2019-03-20 Pending — MREIS
• 2019-03-09 Listed $199,000 MREIS
• 2017-01-03 Delisted — MREIS
• 2016-06-17 Listed $59,000 MREIS

Property tax history

+12.3%/yr

Latest (2025): $1,789 · +18.3% YoY. Source: county tax records.