22 Ocean Park Rd #133 · Saco, ME 04072

$189,000

2 bd · 1.0 ba · 576 sqft · Condo public records · 52 Days on market

Built 1992 Good condition $328/sqft · 14% above area Est $166k · 14% over $293/mo HOA · 13% of rent ↓ 2% 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 +19.0/30.0
• Schools +7.5/10.0
• 1% rule +6.6/10.0
• DSCR +6.0/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• ARV discount +1.2/15.0
• Appreciation +0.0/10.0

Listing remarks

Ideal vacation or rental property, remodeled in 2025. This is one of 12 units that have been converted into condominiums that were carved out of the existing Exit 5 motel. The motel has 26 units that operate seasonally including all motel amenities that are seasonal as well, but the condomiums are open year-round. These condos are situated within a motel setting making them great for a vacation get away or rent them weekly to offset your vacation property expenses. All sitting on 3.2 beautifully landscaped grounds. Unit 33(133) is a 1 bedroom, 1 bath with a large kitchen and living room. These condominiums have access to many of the motel amenities which include a large indoor pool, game ro

Key facts

• Remodeled in 2025
• Fire pit
• Wraparound deck

Tags

• REMODELED IN 2025
• BEAUTIFULLY LANDSCAPED GROUNDS
• LARGE INDOOR POOL
• GAME ROOM
• WRAPAROUND DECK
• FIRE PIT

Property features AI

Finance

• Other: Subdivision: Exit 5 Condominium
• HOA & community: Association fee of $293.03 monthly; Association allows 3+ pets; Community clubhouse; Single unit in the community

Exterior

• Parking: Reserved paved on-site parking (1–4 spaces)
• Utilities: Public water; Public sewer; Electric service with circuit breakers; Gas on-demand water heater
• Home design: Condominium; Built in 1992; Shingle roof; Entry level: First floor; Wood frame construction with vinyl siding
• Construction: Slab foundation
• Exterior features: Deck; Near golf course; Near public beach; Near shopping; Well landscaped; Level lot; Near turnpike/interstate; Near town; Private paved road frontage

Interior

• Kitchen: Eat-in kitchen; Refrigerator; Microwave; Cooktop
• Bedrooms: Bedroom on the first floor with closet
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Direct vent heater; Wall cooling unit(s)
• Interior features: First-floor bedroom; Furnished; 3 total rooms; Informal living area with heat stove

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $189k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $196 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• Recommended offer: $183k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 2.7% in Saco — 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 84/100 on livability (#5 in ME, #732 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, housing A+; Watch: amenities F.
• Saco Public Schools (suburban): math 88% / reading 88% proficiency, ranked #37 of 112 in ME (top 33%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 112 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($183k) 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.

Recommended offer $183,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 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 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: 1.16% ✓
• Cap rate: 7.54%
• Cash-on-cash: 4.44%
• DSCR: 1.20
• GRM: 7.2

CMA / ARV

• ARV (median comp): $165,860
• List price: $189,000
• Delta: 13.95%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -9.3%
• Equity multiple: 0.66×
• Total profit: $-17,991
• Equity at exit: $28,181

10-year hold

• IRR: 0.3%
• Equity multiple: 1.02×
• Total profit: $1,087
• Equity at exit: $16,341

Cash invested: $52,920 (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 04072

• Home prices YoY: -27.9%
• Active inventory: 112
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,192 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$173 /mo · $2,078/yr
• Insurance: −$79
• HOA: −$293
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $196

Break-even live

Break-even rent $1,944

Max offer price $189,000

Occupancy floor 86%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28 Cutts Ave Saco, ME	1.0	1.0	600	$2,340	$3.90	14d	7	1.09mi
29 Pleasant St Apt 203 Saco, ME	1.0	1.0	600	$2,000	$3.33	44d	1	1.14mi

HOA detail condo

• Monthly dues: $293 · $3,516/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $189,000 Active 52 DOM
2. 2026-06-17
   days on market $189,000 Active 51 DOM
3. 2026-06-16
   days on market $189,000 Active 50 DOM
4. 2026-06-15
   days on market $189,000 Active 49 DOM
5. 2026-06-14
   days on market $189,000 Active 47 DOM
6. 2026-06-10
   days on market $189,000 Active 44 DOM
7. 2026-06-09
   days on market $189,000 Active 43 DOM
8. 2026-06-08
   days on market $189,000 Active 42 DOM
9. 2026-06-07
   days on market $189,000 Active 41 DOM
10. 2026-06-05
    days on market $189,000 Active 38 DOM
11. 2026-06-03
    days on market $189,000 Active 37 DOM
12. 2026-06-02
    days on market $189,000 Active 36 DOM
13. 2026-06-01
    days on market $189,000 Active 35 DOM
14. 2026-05-31
    days on market $189,000 Active 34 DOM
15. 2026-05-30
    days on market $189,000 Active 33 DOM
16. 2026-04-27
    listed $189,000 Active 1230-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: $2,078 · $173/mo
• Projected year-2 tax: $2,324 · $194/mo
• Expected delta: +$246/yr (+$21/mo · 11.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $26,304
• − Mortgage interest: −$10,587
• − Property taxes: −$2,078
• − Insurance: −$945
• − Repairs & maintenance: −$2,104
• − Management: −$2,104
• − HOA: −$3,516
• − Depreciation: −$5,498
• Taxable loss: −$529
• Est. tax savings @ 24.0%: +$127
• After-tax cash flow: $2,475/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

Good 80/100 Cosmetic rehab

This property is in good condition with cosmetic repairs needed. It offers a great opportunity for a quick renovation to enhance its resale and rental value.

Repairs flagged

• Minor kitchen cabinets — Light wear and tear
• Minor bathroom fixtures — Light wear and tear
• Minor exterior siding — Some discoloration

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Replace worn-out kitchen cabinets — New cabinets improve functionality and aesthetics.
• Both Replace worn-out bathroom fixtures — New fixtures improve functionality and aesthetics.
• Both Replace worn-out exterior siding — New siding enhances curb appeal and structural integrity.
• Both Maintain and replace HVAC system — A well-maintained HVAC system improves comfort and energy efficiency.

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Light wear and tear	Minor	$500–3,000
bathroom fixtures · Light wear and tear	Minor	$500–3,000
exterior siding · Some discoloration	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Replace worn-out kitchen cabinets — New cabinets improve functionality and aesthetics. ↑
• Both Replace worn-out bathroom fixtures — New fixtures improve functionality and aesthetics. ↑
• Both Replace worn-out exterior siding — New siding enhances curb appeal and structural integrity. ↑
• Both Maintain and replace HVAC system — A well-maintained HVAC system improves comfort and energy efficiency. ↑

ⓘ 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: Saco Public Schools
• NCES district ID: 2310380
• Math proficiency: 88% ▲ 47.00%
• Reading proficiency: 88% ▲ 29.00%
• Median HH income: $55,870
• Composite: 74.86/100
• National rank: #145
• State rank: #37 of 112 in ME

Livability — Saco

• Score: 84/100
• State rank: #5
• US rank: #732

Category grades

Amenities F Commute A+ Cost of living C 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: Saco, ME
• County: York County · 80,026 people
• City population: 20,819
• Metro: Portland-South Portland, ME
• Population (ZIP): 20,819
• Household income: $92,241
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 421.0

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 (85%)
• Race & ethnicity: White 85% Two or more races 7% Hispanic / Latino 4% Black 3% Asian 1%
• Common ancestry: Lithuanian 12% Slovak 3% Romanian 2%
• Foreign-born: 8% · Canada, Dominican Republic, China
• Languages at home: 89% English-only · Other Indo-European 3% French/Haitian/Cajun 2% Spanish 2%

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: ▼ -147.38%
• Current HPI: 381.7349
• Rent YoY: —
• Metro: Portland-South Portland, ME
• State GDP YoY: —
• F500 in state: 0

Price history

-1.6% since first listed

3 events — show timeline

• 2026-04-27 Listed $189,000 MREIS
• 2026-01-01 Delisted — MREIS
• 2025-04-24 Listed $192,000 MREIS

Property tax history

-1.3%/yr

Latest (2024): $2,078 · -4.8% YoY. Source: county tax records.