454 Post Rd #235 · Wells, ME 04090

$349,000

2 bd · 1.0 ba · 600 sqft · Condo public records · 28 Days on market

Built 2006 $507/mo HOA · 6% 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

Welcome to the Cottages of Summer Village; a 65 acre 3-season all-inclusive resort community. Summer Village is a 3-season resort community, available from May 1-October 31 and is renter friendly. A place to come and enjoy rest, relaxation and enjoy the local beaches and pools on the resort. The onsite Trolley takes you to all the amenities on the grounds. This cottage is the ''Drakes Island'' nestled on a dead end which give's lots of privacy. Many upgrades including window in bathroom, updated stackable washer and dryer and water and ice maker in the refrigerator. Many activities are offered on the grounds such as pickleball and there is also specialty entertainment provided to the owners such as live Bands and Comedians. Just steps away to the pavilion, and center pool. Close to all the other amenities this property has to offer. HOA fees cover all utilities, including basic cable. Property to convey fully furnished. .

Key facts

• Community amenities
• Ample closet space
• Cottage condo

Tags

• COTTAGE CONDO
• COMMUNITY AMENITIES
• OPEN-CONCEPT INTERIOR
• WELL-APPOINTED KITCHEN
• COZY LIVING AREA
• AMPLE CLOSET SPACE

Property features AI

Finance

• Other: Part of Summer Village subdivision
• HOA & community: HOA with quarterly fee; Association fee: $1,522 quarterly; Pets allowed (1 pet with size limit)

Exterior

• Parking: 1–4 parking spaces
• Utilities: Public water; Public sewer; Electric circuit breakers; Electric water heater
• Home design: Condominium; Post & beam structure; Built in 2006; Facing information not provided
• Construction: Wood frame and fiber cement exterior; Shingle roof; Slab foundation
• Exterior features: Glassed-in porch; Tennis court(s); Near public beach; Near turnpike/interstate; Near town; Private road

Interior

• Kitchen: Cooktop; Dishwasher; Disposal; Microwave; Electric range; Refrigerator
• Bedrooms: Bedroom 1 — first floor; Bedroom 2 — first floor
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Wall unit cooling
• Interior features: First-floor bedroom; Furnished; Double-pane windows
• Laundry & utility: Washer; Dryer; Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $349k.

Deal economics

• At list price, monthly cash flow is $4k ($44k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $349k).
• Recommended offer: $344k (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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $98k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($344k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y — expect insurance premiums to compound above CPI over the hold.

Recommended offer $343,765 (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: 2.29% ✓
• Cap rate: 18.88%
• Cash-on-cash: 44.94%
• DSCR: 3.00
• GRM: 3.6

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: 42.0%
• Equity multiple: 2.81×
• Total profit: $176,796
• Equity at exit: $52,037

10-year hold

• IRR: 48.2%
• Equity multiple: 5.66×
• Total profit: $455,174
• Equity at exit: $30,175

Cash invested: $97,720 (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: 3.6×

Monthly cashflow live

• Estimated rent: $7,992 medium
• Mortgage (P&I): −$1,830
• Tax from tax record: −$172 /mo · $2,058/yr
• Insurance: −$145
• HOA: −$507
• Vacancy / Maint / Mgmt: −$1,678
• Net cashflow: $3,660

Break-even live

Break-even rent $3,360

Max offer price $349,000

Occupancy floor 49%

Sensitivity live

Price	-10% $3,857	-5% $3,758	+0% $3,660	+5% $3,561	+10% $3,462
Rent	-10% $3,028	-5% $3,344	+0% $3,660	+5% $3,975	+10% $4,291
Rate	-1.0pp $3,835	-0.5pp $3,748	base $3,660	+0.5pp $3,569	+1.0pp $3,477

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: $87,250
• Closing costs: $10,470
• 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	21d	1	0.28mi

HOA detail condo

• Monthly dues: $507 · $6,084/yr
• Likely covers: watercablelandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $349,000 Active 28 DOM
2. 2026-06-17
   days on market $349,000 Active 27 DOM
3. 2026-06-16
   days on market $349,000 Active 26 DOM
4. 2026-06-15
   days on market $349,000 Active 25 DOM
5. 2026-06-14
   days on market $349,000 Active 23 DOM
6. 2026-06-13
   days on market $349,000 Active 22 DOM
7. 2026-06-10
   days on market $349,000 Active 20 DOM
8. 2026-06-09
   days on market $349,000 Active 19 DOM
9. 2026-06-08
   days on market $349,000 Active 18 DOM
10. 2026-06-07
    days on market $349,000 Active 17 DOM
11. 2026-06-05
    days on market $349,000 Active 14 DOM
12. 2026-06-03
    days on market $349,000 Active 13 DOM
13. 2026-06-02
    days on market $349,000 Active 12 DOM
14. 2026-06-01
    days on market $349,000 Active 11 DOM
15. 2026-05-31
    days on market $349,000 Active 10 DOM
16. 2026-05-30
    days on market $349,000 Active 9 DOM
17. 2026-05-21
    listed $349,000 Active
18. 2023-08-07
    soldstatus $330,000 Closed 935-char remark

    Show marketing remark (935 chars)

    Welcome to the Cottages of Summer Village; a 65 acre 3-season all-inclusive resort community. Summer Village is a 3-season resort community, available from May 1-October 31 and is renter friendly. A place to come and enjoy rest, relaxation and enjoy the local beaches and pools on the resort. The onsite Trolley takes you to all the amenities on the grounds. This cottage is the ''Drakes Island'' nestled on a dead end which give's lots of privacy. Many upgrades including window in bathroom, updated stackable washer and dryer and water and ice maker in the refrigerator. Many activities are offered on the grounds such as pickleball and there is also specialty entertainment provided to the owners such as live Bands and Comedians. Just steps away to the pavilion, and center pool. Close to all the other amenities this property has to offer. HOA fees cover all utilities, including basic cable. Property to convey fully furnished. .

19. 2015-07-24
    soldstatus $180,000 Sold 480-char remark

    Show marketing remark (480 chars)

    "Drakes Island" cottage, fully furnished and turn key in a beautiful location at Summer Village. Large lot, set back from all others located an equal walking distance from the pools & amenities in the front, and the pavilion w/ the pool & grounds in center. Upgrades such as recessed lighting, appliances, added window, & the added outdoor storage cage for your beach items! This one won't last as it is one of the best at the exclusive gated community,

20. 2015-07-24
    soldstatus $180,000 Closed

    Show marketing remark (480 chars)

    "Drakes Island" cottage, fully furnished and turn key in a beautiful location at Summer Village. Large lot, set back from all others located an equal walking distance from the pools & amenities in the front, and the pavilion w/ the pool & grounds in center. Upgrades such as recessed lighting, appliances, added window, & the added outdoor storage cage for your beach items! This one won't last as it is one of the best at the exclusive gated community,

21. 2015-07-10
    historical
22. 2015-07-09
    historical 480-char remark

    Show marketing remark (480 chars)

    "Drakes Island" cottage, fully furnished and turn key in a beautiful location at Summer Village. Large lot, set back from all others located an equal walking distance from the pools & amenities in the front, and the pavilion w/ the pool & grounds in center. Upgrades such as recessed lighting, appliances, added window, & the added outdoor storage cage for your beach items! This one won't last as it is one of the best at the exclusive gated community,

23. 2015-03-24
    listed $189,000 Active
24. 2015-03-23
    listed $189,000 Active 480-char remark

    Show marketing remark (480 chars)

    "Drakes Island" cottage, fully furnished and turn key in a beautiful location at Summer Village. Large lot, set back from all others located an equal walking distance from the pools & amenities in the front, and the pavilion w/ the pool & grounds in center. Upgrades such as recessed lighting, appliances, added window, & the added outdoor storage cage for your beach items! This one won't last as it is one of the best at the exclusive gated community,

ⓘ 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: $2,058 · $172/mo
• Projected year-2 tax: $3,402 · $284/mo
• Expected delta: +$1,344/yr (+$112/mo · 65.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥88°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $95,904
• − Mortgage interest: −$19,549
• − Property taxes: −$2,058
• − Insurance: −$1,745
• − Repairs & maintenance: −$7,672
• − Management: −$7,672
• − HOA: −$6,084
• − Depreciation: −$10,153
• Taxable income: $40,970
• Est. tax owed @ 24.0%: −$9,833
• After-tax cash flow: $34,082/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

+84.7% since first listed

8 events — show timeline

• 2026-05-21 Listed $349,000 MREIS
• 2023-08-07 Sold (MLS) $330,000 MREIS
• 2015-07-24 Sold (MLS) $180,000 PrimeMLS
• 2015-07-24 Sold (MLS) $180,000 MREIS
• 2015-07-10 Delisted — PrimeMLS
• 2015-07-09 Delisted — MREIS
• 2015-03-24 Listed $189,000 PrimeMLS
• 2015-03-23 Listed $189,000 MREIS

Property tax history

+3.1%/yr

Latest (2025): $2,058 · +6.2% YoY. Source: county tax records.