430 Post Rd #83

Wells, ME 04090

$34,900C

2 bd · 1.0 ba · 360 sqft · Built 2000 · Manufactured · Active · 139 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,414/mo
• Mortgage (P&I): −$183
• Tax + insurance: −$49
• HOA: −$833
• Vac / Maint / Mgmt: −$297
• Net cashflow: $53/mo
• Annual: $630/yr
• Cap rate: 8.10%
• Cash-on-cash: 6.45%
• DSCR: 1.29
• 1% rule: 4.05%
• Cash to close: $9,772

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $35k. Condition is rated fair.
• At list price, monthly cash flow is $53 ($630/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• It's been on market 139 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $241 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads: area grade C — 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.
• Zoned schools: Wells Elementary School (math 87% / reading 91%, grade A+, #73 of 294 statewide, top 25%, 551 students, 15% FRL); Wells Junior High School (math 86% / reading 90%, grade A+, #27 of 85 statewide, top 31%, 441 students, 19% FRL); Wells High School (math 98% / reading 92%, grade A+, #18 of 108 statewide, top 22%, 415 students, 10% FRL) — zoned schools at 15% FRL track the district average.
• Watch-outs: HOA is 59% of rent.
• Market conditions: 446 active listings in the ZIP; solid renter incomes; 1,386 units permitted in York County in 2024 (338 in 5+ unit buildings).
• Cap rate 8.1% vs local median 3.3% in Wells — 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.

Questions for listing agent

• It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Landscaping — Overgrown vegetation and debris need trimming and cleaning.