165 Flintlock Village Rd #1 · Kennebunk, ME 04090

$489,000

3 bd · 2.0 ba · 1,404 sqft · Condo public records · 8 Days on market

Built 1986 Est $476k · at est. $480/mo HOA · 13% of rent

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

• Schools +7.6/10.0
• Cash flow +7.5/30.0
• ARV discount +6.3/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Cape style, end unit condo in much sought after Flintlock Village. Well maintained, 4 bedroom, 2 bath with one car, attached garage. Many updates over the last 5-10 years such as the kitchen, baths, disposal, hot water heater and washer/dryer. Entertain in the private back yard or sit in the 3 season sunroom and read a good book. Close to beaches, shopping, restaurants, highway and schools.

Key facts

• $480 HOA
• Garage
• Built 1986

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $489k.

Deal economics

• At list price, monthly cash flow is $-612 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $381k (22.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $363k (25.9% below list).
• Recommended offer: $363k (25.9% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 3.2% 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.
• 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.
• Market conditions: 272 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 $15k of value loss. Plan a longer hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $295k; list at $489k implies a 66% gain — meaningful room to come down on a strong offer.

Recommended offer $362,591 (25.9% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.74% ✗
• Cap rate: 4.79%
• Cash-on-cash: -5.37%
• DSCR: 0.76
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $475,956
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1277 Post Rd Unit 106-107	0.48mi	4/2.0 (+1)	1,240 (-12%)	13mo	$420,000	$339	42

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: -25.4%
• Equity multiple: 0.14×
• Total profit: $-118,123
• Equity at exit: $72,911

10-year hold

• IRR: -21.6%
• Equity multiple: -0.11×
• Total profit: $-152,611
• Equity at exit: $42,280

Cash invested: $136,920 (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: 272
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $3,626 medium
• Mortgage (P&I): −$2,564
• Tax from tax record: −$229 /mo · $2,744/yr
• Insurance: −$204
• HOA: −$480
• Vacancy / Maint / Mgmt: −$761
• Net cashflow: $-612

Break-even live

Break-even rent $4,401

Max offer price $380,832

Occupancy floor —

Sensitivity live

Price	-10% $-336	-5% $-474	+0% $-612	+5% $-751	+10% $-889
Rent	-10% $-899	-5% $-756	+0% $-612	+5% $-469	+10% $-326
Rate	-1.0pp $-366	-0.5pp $-488	base $-612	+0.5pp $-739	+1.0pp $-868

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: $122,250
• Closing costs: $14,670
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $480 · $5,760/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-04-24
   status Pending
2. 2026-04-16
   listed $489,000 Active
3. 2020-10-07
   soldstatus $295,000 Closed 402-char remark

   Show marketing remark (402 chars)

   Charming Cape style, end unit condo in much sought after Flintlock Village. Well maintained, 4 bedroom, 2 bath with one car, attached garage. Many updates over the last 5-10 years such as the kitchen, baths, disposal, hot water heater and washer/dryer. Entertain in the private back yard or sit in the 3 season sunroom and read a good book. Close to beaches, shopping, restaurants, highway and schools.

4. 2020-08-11
   status Pending 402-char remark

   Show marketing remark (402 chars)

   Charming Cape style, end unit condo in much sought after Flintlock Village. Well maintained, 4 bedroom, 2 bath with one car, attached garage. Many updates over the last 5-10 years such as the kitchen, baths, disposal, hot water heater and washer/dryer. Entertain in the private back yard or sit in the 3 season sunroom and read a good book. Close to beaches, shopping, restaurants, highway and schools.

5. 2020-08-05
   listed $287,300 Active 402-char remark

   Show marketing remark (402 chars)

   Charming Cape style, end unit condo in much sought after Flintlock Village. Well maintained, 4 bedroom, 2 bath with one car, attached garage. Many updates over the last 5-10 years such as the kitchen, baths, disposal, hot water heater and washer/dryer. Entertain in the private back yard or sit in the 3 season sunroom and read a good book. Close to beaches, shopping, restaurants, highway and schools.

ⓘ 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: $2,744 · $229/mo
• Projected year-2 tax: $4,697 · $391/mo
• Expected delta: +$1,953/yr (+$163/mo · 71.2%)

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

Taxation est. · year 1

• Rental income: $43,511
• − Mortgage interest: −$27,392
• − Property taxes: −$2,744
• − Insurance: −$2,445
• − Repairs & maintenance: −$3,481
• − Management: −$3,481
• − HOA: −$5,760
• − Depreciation: −$14,225
• Taxable loss: −$16,017
• Est. tax savings @ 24.0%: +$3,844
• After-tax cash flow: $-3,504/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 — 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

• 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

+70.2% since first listed

5 events — show timeline

• 2026-04-24 Pending — MREIS
• 2026-04-16 Listed $489,000 MREIS
• 2020-10-07 Sold (MLS) $295,000 MREIS
• 2020-08-11 Pending — MREIS
• 2020-08-05 Listed $287,300 MREIS

Property tax history

+2.6%/yr

Latest (2025): $2,744 · +14.2% YoY. Source: county tax records.