926 Meetinghouse Rd · West Kennebunk, ME 04090

$389,000

3 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 8 Days on market

Built 1970 1.84 ac lot $368/sqft · 5% below area Est $410k · 5% under

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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 +16.3/30.0
• ARV discount +9.8/15.0
• Schools +7.6/10.0
• DSCR +5.1/10.0
• 1% rule +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 926 Meetinghouse Road in Wells, Maine, often referred to as ''The Friendliest Town in Maine!'' Situated on more than 1.5 acres, this one owner 3-bedroom ranch is awaiting its new owner's ideas, inspiration and sweat equity. Single level living is at your fingertips. If you're looking for more finished space, take advantage of the full unfinished basement to create that extra family room, craft space or home gym. The flat lot also offers potential for expansion or the addition of a garage if desired. The existing shed offers additional storage space and has electricity connected. The location has a nice rural feel, but you're only 10 minutes to downtown Kennebunk, the outskirts of

Key facts

• Existing shed
• Flat lot
• 1.84 acre lot

Tags

• FULL UNFINISHED BASEMENT
• FLAT LOT
• EXISTING SHED
• POTENTIAL FOR EXPANSION

Property features AI

Exterior

• Parking: Parking for 5–10 vehicles; No garage
• Utilities: Electric service with circuit breakers; Private sewer (septic tank); Private well water
• Home design: Ranch-style single family residence; One-story (ranch)
• Construction: Above-grade finished area approximately 1,056; Property type: Single family residence
• Exterior features: Shingle roof; Shed(s) on the property; Trees/Woods view; Private well water

Interior

• Kitchen: First-floor kitchen (approx. 11.9 x 9.69)
• Bedrooms: Primary bedroom on the first floor with closet (approx. 14.25 x 11.9); Second bedroom on the first floor with closet (approx. 12.1 x 11.8); Third bedroom on the first floor with closet (approx. 11.8 x 11.1)
• Flooring: Hardwood flooring; Linoleum flooring
• Bathrooms: One full bathroom
• Heating & cooling: Hot water heat
• Interior features: Six total rooms; Basement with interior entry and doghouse; Unfurnished
• Laundry & utility: Basement access (interior entry)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $389k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/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 $328k (15.7% below list).
• Recommended offer: $328k (15.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#97 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety 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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

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 $328,000 (15.7% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.84% ✗
• Cap rate: 6.96%
• Cash-on-cash: 2.39%
• DSCR: 1.11
• GRM: 9.9

CMA / ARV

• ARV (median comp): $409,847
• List price: $389,000
• Delta: -5.09%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
926 Meetinghouse Rd	0.00mi	3/1.0	1,056 (0%)	0mo	$395,000	$374	100

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: -12.6%
• Equity multiple: 0.55×
• Total profit: $-49,368
• Equity at exit: $58,001

10-year hold

• IRR: -3.6%
• Equity multiple: 0.76×
• Total profit: $-25,790
• Equity at exit: $33,634

Cash invested: $108,920 (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 04090

• Home prices YoY: -20.0%
• Active inventory: 267
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $3,280 medium
• Mortgage (P&I): −$2,040
• Tax from tax record: −$172 /mo · $2,068/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$689
• Net cashflow: $217

Break-even live

Break-even rent $3,006

Max offer price $389,000

Occupancy floor 88%

Sensitivity live

Price	-10% $437	-5% $327	+0% $217	+5% $107	+10% $-3
Rent	-10% $-42	-5% $87	+0% $217	+5% $346	+10% $476
Rate	-1.0pp $413	-0.5pp $316	base $217	+0.5pp $116	+1.0pp $13

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: $97,250
• Closing costs: $11,670
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-06
   status Pending 1069-char remark
2. 2026-04-28
   listed $389,000 Active 1069-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: $2,068 · $172/mo
• Projected year-2 tax: $3,679 · $307/mo
• Expected delta: +$1,611/yr (+$134/mo · 77.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥89°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,360
• − Mortgage interest: −$21,790
• − Property taxes: −$2,068
• − Insurance: −$1,945
• − Repairs & maintenance: −$3,149
• − Management: −$3,149
• − Depreciation: −$11,316
• Taxable loss: −$4,057
• Est. tax savings @ 24.0%: +$974
• After-tax cash flow: $3,576/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 — West Kennebunk

• Score: 67/100
• State rank: #97
• US rank: #11126

Category grades

Amenities F Commute F Cost of living F Crime A+ Employment B- Housing A- Health & safety A+ 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

+1.5% since first listed

3 events — show timeline

• 2026-06-08 Sold (MLS) $395,000 MREIS
• 2026-05-06 Pending — MREIS
• 2026-04-28 Listed $389,000 MREIS

Property tax history

+2.2%/yr

Latest (2025): $2,068 · +6.3% YoY. Source: county tax records.