1 Old County Rd #158 · Wells, ME 04090

$425,000

2 bd · 1.5 ba · 688 sqft · Condo public records · 25 Days on market

Built 2013 $395/mo HOA · 5% 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
• ARV discount +7.5/15.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Desirable ''Seaglass Village Cottage Community'' The ideal location just 1.5 miles to the beach & only 2.5 miles to Ogunquit Center. Looking for that ''Wow'' factor both inside & out ?? This 2 bedroom cottage is sure to impress with soaring cathedral ceilings, gorgeous new wood look flooring thru out, and large windows. This home is being offered furnished. Live in total comfort with central air conditioning and ceiling fans in every room. A yard right out of Better Homes & Gardens with ample outdoor living space. and crushed stone driveway. Optional space allows you the ability to add and extra 1/2 bathroom if desired. Resort style amenities include 4 pools, hot tub, and both Tennis & Pickleball courts. Beautiful clubhouse with multiple fireplaces, bar, function hall & gym. * * Please note a majority of the amenities are restricted to the exclusive use of those 18 yrs & older. May 1st thru October 31st occupancy .

Key facts

• Sunny corner lot
• Central ac
• Glassed-in porch

Tags

• SUNNY CORNER LOT
• CATHEDRAL CEILINGS
• CENTRAL AC
• GRANITE COUNTERTOPS
• IN-UNIT LAUNDRY
• GLASSED-IN PORCH

Property features AI

Finance

• Other: Part of Seaglass Village Cottages community; Address: 1 Old County Rd #158, Wells, ME 04090
• HOA & community: Association with clubhouse; Monthly association fee of $395; Pets allowed (up to 2 pets; breed restrictions apply)

Exterior

• Parking: Gravel parking with 1–4 spaces
• Utilities: Public sewer; Public and seasonal water; Electric with circuit breakers; Electric tank water heater
• Home design: Condominium; Built in 2013; Single-story entry (first-floor living)
• Construction: Wood frame with clapboard siding; Pillar/post/pier foundation; Shingle roof
• Exterior features: Glassed-in porch; Tennis court(s); Near golf course; Near public beach; Near town; Corner lot; Near public transit; Irrigation system; Paved road

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Primary bedroom on the first floor with closet; Second bedroom on the first floor with closet
• Flooring: Laminate; Luxury vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fans
• Interior features: One-floor living; Attic; Bathtub; Storage; Storm door(s); Double-pane windows; Cable and internet available; Furnished
• Laundry & utility: Washer hookup on main level; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $425k.

Deal economics

• At list price, monthly cash flow is $3k ($40k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $425k).
• Recommended offer: $419k (1.5% 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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $119k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($419k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 $351k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $418,625 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.88% ✓
• Cap rate: 15.65%
• Cash-on-cash: 33.42%
• DSCR: 2.49
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 28.7%
• Equity multiple: 2.20×
• Total profit: $142,378
• Equity at exit: $63,369

10-year hold

• IRR: 36.1%
• Equity multiple: 4.33×
• Total profit: $396,435
• Equity at exit: $36,746

Cash invested: $119,000 (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 04090

• Home prices YoY: -20.0%
• Active inventory: 267
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $7,992 medium
• Mortgage (P&I): −$2,229
• Tax from tax record: −$199 /mo · $2,383/yr
• Insurance: −$177
• HOA: −$395
• Vacancy / Maint / Mgmt: −$1,678
• Net cashflow: $3,314

Break-even live

Break-even rent $3,797

Max offer price $425,000

Occupancy floor 54%

Sensitivity live

Price	-10% $3,555	-5% $3,435	+0% $3,314	+5% $3,194	+10% $3,074
Rent	-10% $2,683	-5% $2,999	+0% $3,314	+5% $3,630	+10% $3,946
Rate	-1.0pp $3,528	-0.5pp $3,422	base $3,314	+0.5pp $3,204	+1.0pp $3,092

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: $106,250
• Closing costs: $12,750
• 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	22d	1	0.34mi

HOA detail condo

• Monthly dues: $395 · $4,740/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   status $425,000 Pending 25 DOM
2. 2026-06-17
   days on market $425,000 Active 25 DOM
3. 2026-06-16
   days on market $425,000 Active 24 DOM
4. 2026-06-15
   days on market $425,000 Active 23 DOM
5. 2026-06-14
   days on market $425,000 Active 21 DOM
6. 2026-06-13
   days on market $425,000 Active 20 DOM
7. 2026-06-10
   days on market $425,000 Active 18 DOM
8. 2026-06-09
   days on market $425,000 Active 17 DOM
9. 2026-06-08
   days on market $425,000 Active 16 DOM
10. 2026-06-07
    days on market $425,000 Active 15 DOM
11. 2026-06-05
    days on market $425,000 Active 12 DOM
12. 2026-06-03
    days on market $425,000 Active 11 DOM
13. 2026-06-02
    days on market $425,000 Active 10 DOM
14. 2026-06-01
    days on market $425,000 Active 9 DOM
15. 2026-05-31
    days on market $425,000 Active 8 DOM
16. 2026-05-30
    days on market $425,000 Active 7 DOM
17. 2026-05-23
    listed $425,000 Active
18. 2022-09-08
    soldstatus $350,900 Closed 967-char remark

    Show marketing remark (967 chars)

    Desirable ''Seaglass Village Cottage Community'' The ideal location just 1.5 miles to the beach & only 2.5 miles to Ogunquit Center. Looking for that ''Wow'' factor both inside & out ?? This 2 bedroom cottage is sure to impress with soaring cathedral ceilings, gorgeous new wood look flooring thru out, and large windows. This home is being offered furnished. Live in total comfort with central air conditioning and ceiling fans in every room. A yard right out of Better Homes & Gardens with ample outdoor living space. and crushed stone driveway. Optional space allows you the ability to add and extra 1/2 bathroom if desired. Resort style amenities include 4 pools, hot tub, and both Tennis & Pickleball courts. Beautiful clubhouse with multiple fireplaces, bar, function hall & gym. * * Please note a majority of the amenities are restricted to the exclusive use of those 18 yrs & older. May 1st thru October 31st occupancy .

19. 2022-07-26
    status Pending 967-char remark

    Show marketing remark (967 chars)

    Desirable ''Seaglass Village Cottage Community'' The ideal location just 1.5 miles to the beach & only 2.5 miles to Ogunquit Center. Looking for that ''Wow'' factor both inside & out ?? This 2 bedroom cottage is sure to impress with soaring cathedral ceilings, gorgeous new wood look flooring thru out, and large windows. This home is being offered furnished. Live in total comfort with central air conditioning and ceiling fans in every room. A yard right out of Better Homes & Gardens with ample outdoor living space. and crushed stone driveway. Optional space allows you the ability to add and extra 1/2 bathroom if desired. Resort style amenities include 4 pools, hot tub, and both Tennis & Pickleball courts. Beautiful clubhouse with multiple fireplaces, bar, function hall & gym. * * Please note a majority of the amenities are restricted to the exclusive use of those 18 yrs & older. May 1st thru October 31st occupancy .

20. 2022-07-22
    listed $349,900 Active 967-char remark

    Show marketing remark (967 chars)

    Desirable ''Seaglass Village Cottage Community'' The ideal location just 1.5 miles to the beach & only 2.5 miles to Ogunquit Center. Looking for that ''Wow'' factor both inside & out ?? This 2 bedroom cottage is sure to impress with soaring cathedral ceilings, gorgeous new wood look flooring thru out, and large windows. This home is being offered furnished. Live in total comfort with central air conditioning and ceiling fans in every room. A yard right out of Better Homes & Gardens with ample outdoor living space. and crushed stone driveway. Optional space allows you the ability to add and extra 1/2 bathroom if desired. Resort style amenities include 4 pools, hot tub, and both Tennis & Pickleball courts. Beautiful clubhouse with multiple fireplaces, bar, function hall & gym. * * Please note a majority of the amenities are restricted to the exclusive use of those 18 yrs & older. May 1st thru October 31st occupancy .

21. 2018-10-02
    historical
22. 2018-07-19
    listed $259,900 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: $2,383 · $199/mo
• Projected year-2 tax: $4,082 · $340/mo
• Expected delta: +$1,698/yr (+$142/mo · 71.3%)

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

Taxation est. · year 1

• Rental income: $95,904
• − Mortgage interest: −$23,807
• − Property taxes: −$2,383
• − Insurance: −$2,125
• − Repairs & maintenance: −$7,672
• − Management: −$7,672
• − HOA: −$4,740
• − Depreciation: −$12,364
• Taxable income: $35,141
• Est. tax owed @ 24.0%: −$8,434
• After-tax cash flow: $31,337/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

+63.5% since first listed

6 events — show timeline

• 2026-05-23 Listed $425,000 MREIS
• 2022-09-08 Sold (MLS) $350,900 MREIS
• 2022-07-26 Pending — MREIS
• 2022-07-22 Listed $349,900 MREIS
• 2018-10-02 Delisted — MREIS
• 2018-07-19 Listed $259,900 MREIS

Property tax history

+1.7%/yr

Latest (2025): $2,383 · +8.3% YoY. Source: county tax records.