143 Beach Ave #205 · Kennebunk, ME 04043

$950,000

2 bd · 2.5 ba · 1,360 sqft · Condo public records · 99 Days on market

Built 1985 Good condition $699/sqft · 15% below area Est $1.122M · 15% under $871/mo HOA · 13% of rent

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Why this score? — see what drove the D 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).

• ARV discount +14.4/15.0
• Schools +9.3/10.0
• Cash flow +6.0/30.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• 1% rule +2.1/10.0
• DSCR +0.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy the best of Kennebunk Beach living at this beautifully renovated two-level condo in Narragansett By The Sea, located just steps from Gooch's Beach. Offering 2 bedrooms, 2.5 baths, and 1,360 square feet of thoughtfully updated living space, this coastal retreat features a stunning quartz and marble kitchen, hardwood flooring, skylights, updated windows, and a private deck where you can relax to the sound of the surf. Residents enjoy exceptional amenities including a heated oceanfront pool, tennis and pickleball courts, and a location just one mile from Dock Square's shops, restaurants, and entertainment.

Key facts

• Hardwood flooring
• Private deck
• Updated windows

Tags

• RENOVATED TWO-LEVEL CONDO
• QUARTZ AND MARBLE KITCHEN
• HARDWOOD FLOORING
• SKYLIGHTS
• UPDATED WINDOWS
• PRIVATE DECK

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $950k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-2k ($-27k/yr) — negative.
• To cash-flow at today's rent, offer at most $553k (41.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $672k (29.3% below list).
• Recommended offer: $553k (41.8% below list) — sets the bar for cash-flow.
• Cap rate 4.0% vs local median 2.7% in Kennebunk — 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 79/100 on livability (#20 in ME, #2,049 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, amenities F, commute F.
• RSU 21 (rural): math 91% / reading 94% proficiency, ranked #13 of 112 in ME (top 12%) — strong family-tenant draw, lease renewals of 3-5y typical; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Kennebunk Elementary School (358 students, 9% FRL); Middle School of The Kennebunks (math 92% / reading 96%, grade A+, #5 of 85 statewide, top 5%, 479 students, 11% FRL); Kennebunk High School (math 98% / reading 92%, grade A+, #18 of 108 statewide, top 22%, 756 students, 11% FRL).
• Market conditions: 219 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).
• At $6,715/mo this rent would consume 80% of the median local household income ($101k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $28k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($864k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 6y 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.
• Current owner paid $410k; list at $950k implies a 132% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% 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 $552,882 (41.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are A-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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 0.71% ✗
• Cap rate: 3.99%
• Cash-on-cash: -8.22%
• DSCR: 0.63
• GRM: 11.8

CMA / ARV

• ARV (median comp): $1,122,283
• List price: $950,000
• Delta: -15.35%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
143 Beach Ave #202	0.00mi	2/2.5	1,390 (+2%)	17mo	$1,089,000	$783	82
149 Beach Ave #107	0.04mi	2/2.0	1,268 (-7%)	10mo	$1,325,000	$1,045	77
147 Beach Ave #142	0.04mi	3/2.0 (+1)	1,514 (+11%)	1mo	$838,000	$554	72
19 Portview Ln #19	1.20mi	2/2.0	1,351 (-1%)	10mo	$925,000	$685	53
11 Evergreen Ave	0.22mi	3/2.0 (+1)	1,630 (+20%)	12mo	$940,000	$577	48
2 Wallace St	0.84mi	3/2.0 (+1)	1,372 (+1%)	13mo	$1,500,000	$1,093	45
47 Ocean Ave #6	1.07mi	2/2.0	1,265 (-7%)	14mo	$1,250,000	$988	40
47 Ocean Ave #8	1.07mi	3/2.0 (+1)	1,479 (+9%)	7mo	$1,487,500	$1,006	38
6 School St	1.29mi	3/2.0 (+1)	1,630 (+20%)	4mo	$1,360,000	$834	29
12 Elm St	1.21mi	3/2.5 (+1)	1,635 (+20%)	14mo	$1,238,000	$757	23
14 S Main St	1.09mi	2/1.0	1,076 (-21%)	14mo	$1,095,000	$1,018	23
8 Arlington Ave Unit D2	0.85mi	1/1.5 (-1)	1,043 (-23%)	16mo	$475,000	$455	18

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: -34.4%
• Equity multiple: -0.11×
• Total profit: $-296,409
• Equity at exit: $141,648

10-year hold

• IRR: -43.4%
• Equity multiple: -0.65×
• Total profit: $-439,592
• Equity at exit: $82,139

Cash invested: $266,000 (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 04043

• Home prices YoY: -21.4%
• Active inventory: 219
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $6,715 medium
• Mortgage (P&I): −$4,982
• Tax from tax record: −$878 /mo · $10,531/yr
• Insurance: −$396
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$871
• Vacancy / Maint / Mgmt: −$1,410
• Net cashflow: $-2,248

Break-even live

Break-even rent $9,561

Max offer price $552,882

Occupancy floor —

Sensitivity live

Price	-10% $-1,710	-5% $-1,979	+0% $-2,248	+5% $-2,517	+10% $-2,786
Rent	-10% $-2,778	-5% $-2,513	+0% $-2,248	+5% $-1,983	+10% $-1,718
Rate	-1.0pp $-1,770	-0.5pp $-2,006	base $-2,248	+0.5pp $-2,494	+1.0pp $-2,745

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: $237,500
• Closing costs: $28,500
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8 Railroad Ave Unit 1532212P Kennebunk, ME	3.0	1.0	893	$11,379	$12.74	117d	1	0.69mi
8 Arlington St Unit E2 Kennebunkport, ME	1.0	1.0	1102	$2,200	$2.00	6d	1	0.83mi

Property features AI

Finance

• Other: Subdivision: Narragansett CondominiumZoning: CR
• HOA & community: Association with monthly feeMonthly association fee of $871Community clubhouseCommunity of 12 unitsPets allowed (one pet) with breed restrictions

Exterior

• Parking: Common paved on-site parkingElectric vehicle charging station(s)
• Security: Fire system
• Utilities: Public waterPublic sewerElectric service with circuit breakersElectric water heaterUtilities currently on
• Home design: CondominiumOcean view of the Atlantic OceanBuilt in 1985
• Construction: Wood frame construction with shingle and wood sidingShingle roofCrawl space with exterior entry
• Exterior features: DeckTennis court(s)Near golf course, public beach, shopping and townLevel lot with sidewalksPrivate paved road

Interior

• Kitchen: Eat-in kitchenElectric rangeMicrowaveDishwasherRefrigeratorGarbage disposal
• Bedrooms: Primary bedroom on third level with balcony/deck and closetSecond bedroom on third level with skylight
• Flooring: CarpetLaminateVinyl
• Bathrooms: Two full bathroomsOne half bathroom
• Heating & cooling: Baseboard heatingHeat pump heating and coolingZoned heating
• Interior features: ShowerPrimary bedroom with full bathInternet access available5 total rooms
• Laundry & utility: Washer and dryer includedLaundry on main level

HOA detail $871/mo · $10,452/yr condo

• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-09-14
   days on market $950,000 Active 99 DOM
2. 2026-09-13
   days on market $950,000 Active 98 DOM
3. 2026-09-12
   days on market $950,000 Active 97 DOM
4. 2026-09-11
   days on market $950,000 Active 96 DOM
5. 2026-09-05
   days on market $950,000 Active 90 DOM
6. 2026-09-04
   days on market $950,000 Active 89 DOM
7. 2026-09-03
   days on market $950,000 Active 88 DOM
8. 2026-08-31
   days on market $950,000 Active 85 DOM
9. 2026-08-30
   days on market $950,000 Active 84 DOM
10. 2026-08-29
    days on market $950,000 Active 83 DOM
11. 2026-08-28
    days on market $950,000 Active 82 DOM
12. 2026-08-27
    days on market $950,000 Active 81 DOM
13. 2026-08-25
    days on market $950,000 Active 79 DOM
14. 2026-08-24
    days on market $950,000 Active 78 DOM
15. 2026-08-23
    days on market $950,000 Active 77 DOM
16. 2026-08-22
    days on market $950,000 Active 76 DOM
17. 2026-08-21
    days on market $950,000 Active 75 DOM
18. 2026-08-20
    days on market $950,000 Active 74 DOM
19. 2026-08-19
    days on market $950,000 Active 73 DOM
20. 2026-08-18
    days on market $950,000 Active 72 DOM
21. 2026-08-17
    days on market $950,000 Active 71 DOM
22. 2026-08-16
    days on market $950,000 Active 70 DOM
23. 2026-08-15
    days on market $950,000 Active 69 DOM
24. 2026-08-15
    days on market $950,000 Active 68 DOM
25. 2026-08-13
    days on market $950,000 Active 67 DOM
26. 2026-08-12
    days on market $950,000 Active 66 DOM
27. 2026-08-11
    days on market $950,000 Active 65 DOM
28. 2026-08-10
    days on market $950,000 Active 64 DOM
29. 2026-08-09
    days on market $950,000 Active 63 DOM
30. 2026-08-08
    days on market $950,000 Active 62 DOM
31. 2026-08-07
    days on market $950,000 Active 61 DOM
32. 2026-08-06
    days on market $950,000 Active 60 DOM
33. 2026-08-05
    days on market $950,000 Active 59 DOM
34. 2026-08-04
    days on market $950,000 Active 58 DOM
35. 2026-08-03
    days on market $950,000 Active 57 DOM
36. 2026-07-31
    days on market $950,000 Active 54 DOM
37. 2026-07-30
    days on market $950,000 Active 53 DOM
38. 2026-07-29
    days on market $950,000 Active 52 DOM
39. 2026-07-27
    days on market $950,000 Active 50 DOM
40. 2026-07-25
    days on market $950,000 Active 48 DOM
41. 2026-07-23
    days on market $950,000 Active 46 DOM
42. 2026-07-22
    days on market $950,000 Active 45 DOM
43. 2026-07-21
    days on market $950,000 Active 44 DOM
44. 2026-07-18
    days on market $950,000 Active 41 DOM
45. 2026-07-16
    days on market $950,000 Active 39 DOM
46. 2026-07-16
    days on market $950,000 Active 38 DOM
47. 2026-07-14
    days on market $950,000 Active 37 DOM
48. 2026-07-14
    days on market $950,000 Active 36 DOM
49. 2026-07-12
    days on market $950,000 Active 35 DOM
50. 2026-07-11
    days on market $950,000 Active 34 DOM

ⓘ 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: $10,531 · $878/mo
• Projected year-2 tax: $11,726 · $977/mo
• Expected delta: +$1,194/yr (+$100/mo · 11.3%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥85°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $80,580
• − Mortgage interest: −$53,215
• − Property taxes: −$10,531
• − Insurance: −$9,868
• − Repairs & maintenance: −$6,446
• − Management: −$6,446
• − HOA: −$10,452
• − Depreciation: −$27,636
• Taxable loss: −$44,015
• Est. tax savings @ 24.0%: +$10,564
• After-tax cash flow: $-16,412/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 · 2 photos

Good 80/100 Cosmetic rehab Est. rehab $6,800–$20,400 screening

This beautifully renovated two-level condo is move-in ready with updated interiors and a well-maintained exterior. It offers a prime location and high-end finishes, making it an excellent investment.

Components & finishes AI

Flooring hardwood Appliances stainless steel

Value-add opportunities

• Both Paint the exterior siding — Enhances curb appeal and value ↑
• Resale Replace the ceiling fan with a modern model — Modernizes the space and adds value ↑
• Both Install smart home devices — Improves convenience and adds value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

A Composite school gradezoned avg 93/100

Zoned Schools

Elementary Sea Road School A+ ME #40/294 Nat'l #143/41,679 Middle Middle School Of The Kennebunks A+ ME #5/85 Nat'l #20/14,009 High Kennebunk High School A+ ME #18/108 Nat'l #152/17,239

Schools (NCES district)

• District: RSU 21
• NCES district ID: 2314773
• Math proficiency: 91% ▲ 34.00%
• Reading proficiency: 94% ▲ 20.00%
• Median HH income: $68,462
• Composite: 79.78/100
• National rank: #55
• State rank: #13 of 112 in ME

B Composite livability gradescore 79/100

Livability — Kennebunk

• Score: 79/100
• State rank: #20
• US rank: #2049

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: York · 209,961 people
• Metro: Portland-South Portland, ME
• Population (ZIP): 11,692
• Household income: $101,204
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 13% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 2% Asian 2%
• Common ancestry: Lithuanian 8% Slovak 5% Serbian 3%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 95% English-only · French/Haitian/Cajun 2% Spanish 2% German/W. Germanic 1%

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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: ▼ -108.54%
• Current HPI: 398.495
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Property features AI

Finance

• Other: Subdivision: Narragansett CondominiumZoning: CR
• HOA & community: Association with monthly feeMonthly association fee of $871Community clubhouseCommunity of 12 unitsPets allowed (one pet) with breed restrictions

Exterior

• Parking: Common paved on-site parkingElectric vehicle charging station(s)
• Security: Fire system
• Utilities: Public waterPublic sewerElectric service with circuit breakersElectric water heaterUtilities currently on
• Home design: CondominiumOcean view of the Atlantic OceanBuilt in 1985
• Construction: Wood frame construction with shingle and wood sidingShingle roofCrawl space with exterior entry
• Exterior features: DeckTennis court(s)Near golf course, public beach, shopping and townLevel lot with sidewalksPrivate paved road

Interior

• Kitchen: Eat-in kitchenElectric rangeMicrowaveDishwasherRefrigeratorGarbage disposal
• Bedrooms: Primary bedroom on third level with balcony/deck and closetSecond bedroom on third level with skylight
• Flooring: CarpetLaminateVinyl
• Bathrooms: Two full bathroomsOne half bathroom
• Heating & cooling: Baseboard heatingHeat pump heating and coolingZoned heating
• Interior features: ShowerPrimary bedroom with full bathInternet access available5 total rooms
• Laundry & utility: Washer and dryer includedLaundry on main level

Price history

+111.1% since first listed

33 events — show timeline

• 2026-06-07 Listed $950,000 MREIS
• 2026-05-01 Price Changed $950,000 MREIS
• 2026-04-10 Price Changed $963,500 MREIS
• 2026-04-03 Relisted — MREIS
• 2026-04-03 Delisted — MREIS
• 2026-02-25 Relisted — MREIS
• 2026-02-25 Delisted — MREIS
• 2025-09-18 Listed $968,500 MREIS
• 2025-09-16 Delisted — MREIS
• 2025-06-26 Price Changed $968,500 MREIS
• 2025-05-13 Relisted — MREIS
• 2025-05-13 Price Changed $979,900 MREIS
• 2025-05-13 Delisted — MREIS
• 2025-05-10 Relisted — MREIS
• 2025-05-07 Pending — MREIS
• 2025-05-01 Price Changed $981,900 MREIS
• 2025-03-03 Price Changed $984,900 MREIS
• 2024-12-13 Relisted — MREIS
• 2024-12-13 Delisted — MREIS
• 2024-09-10 Price Changed $999,900 MREIS
• 2024-08-30 Price Changed $1,030,000 MREIS
• 2024-08-07 Price Changed $1,049,000 MREIS
• 2024-07-18 Price Changed $1,099,000 MREIS
• 2024-07-13 Price Changed $1,125,000 MREIS
• 2024-07-03 Price Changed $1,150,000 MREIS
• 2024-06-19 Price Changed $1,199,900 MREIS
• 2024-06-19 Listed $1,250,000 MREIS
• 2020-09-15 Sold (MLS) $410,000 MREIS
• 2020-08-03 Pending — MREIS
• 2020-07-14 Relisted — MREIS
• 2020-07-13 Pending — MREIS
• 2020-06-04 Price Changed $425,000 MREIS
• 2020-01-02 Listed $450,000 MREIS

Property tax history

+6.5%/yr

Latest (2025): $10,531 · +32.3% YoY. Source: county tax records.