150 Chapel Rd #817 · Wells, ME 04090

$44,900

1 bd · 1.0 ba · 396 sqft · Manufactured public records · 72 Days on market

Built 1999 $113/sqft · at area comps Est $71k · 37% under $779/mo HOA · 42% of rent ↓ 9% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +7.6/10.0
• 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

Have you dreamed of having a seasonal get away minutes from the beaches of Wells & thought it couldn't happen? Come check out the home at Site 817 in Sea Vu South! This 1999 top of the line Breckenridge Park Model Home offers an open concept eat in kitchen & living room area that is fabulous for entertaining all in one space. The home is very clean & offers blinds throughout the home including the 3 season Florida room. The kitchen has functional cabinet space, large counters & full size appliances. My favorite thing about this home is the location in the back section of the park where it is abutting the woods & is a quieter section of the park but still close to the large pool, gym, laundry & snack shack. There is a fabulous stone fire pit in the yard to enjoy smores' & a small front porch that has newer composite decking! Sea Vu offers a convenient walking path right across from this home over to Rest View Lane to hop on the trolley (when running), bike/walk to the beach, or enjoy a meal at the Mikes Clam Shack, Steakhouse, or Congdons Donuts & Food trucks w/ out having to get into your car! The park offers a large pool, jacuzzi, clubhouse, laundry facilities, space to work & spare ''living rooms' in the clubhouse for your use. There are tons of activities for all ages throughout the season & lots of memories made! The park rent of 9,375 includes water, sewer, cable, internet, trash, and all the amenities at the park. There is basketball courts, playgrounds, fenced dog park, & so much more in this gated community. You can bring pets (but your guests can not!). Season is from May-October 30.

Key facts

• Open concept kitchen
• Stone fire pit
• Parking

Tags

• OPEN CONCEPT KITCHEN
• THREE SEASON FLORIDA ROOM
• LOCATION ABUTTING WOODS
• STONE FIRE PIT
• NEWER COMPOSITE DECKING
• WALKING PATH TO BEACH

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $45k.

Deal economics

• At list price, monthly cash flow is $400 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $42k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade A — 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; 1,386 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 $310 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($42k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 42% of rent.
• 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 $42,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 4.14% ✓
• Cap rate: 16.97%
• Cash-on-cash: 38.13%
• DSCR: 2.70
• GRM: 2.0

CMA / ARV

• ARV (median comp): $71,425
• List price: $44,900
• Delta: -37.14%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 College Dr #412	0.54mi	2/1.0 (+1)	407 (+3%)	17mo	$40,000	$98	51
924 Post Rd #29	0.64mi	1/1.0	441 (+11%)	20mo	$36,000	$82	34

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: 34.8%
• Equity multiple: 2.48×
• Total profit: $18,665
• Equity at exit: $6,695

10-year hold

• IRR: 41.9%
• Equity multiple: 5.06×
• Total profit: $51,030
• Equity at exit: $3,882

Cash invested: $12,572 (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: 2.0×

Monthly cashflow live

• Estimated rent: $1,860 medium
• Mortgage (P&I): −$235
• Tax from tax record: −$37 /mo · $445/yr
• Insurance: −$19
• HOA: −$779
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $400

Break-even live

Break-even rent $1,355

Max offer price $44,900

Occupancy floor 74%

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $779 · $9,348/yr
• Likely covers: watersewertrashinternetcablelandscapingpoolgymsecurity

Listing history 18 events

1. 2026-06-18
   status $44,900 Pending 72 DOM
2. 2026-06-17
   days on market $44,900 Active 72 DOM
3. 2026-06-16
   days on market $44,900 Active 71 DOM
4. 2026-06-15
   days on market $44,900 Active 70 DOM
5. 2026-06-14
   days on market $44,900 Active 68 DOM
6. 2026-06-13
   days on market $44,900 Active 67 DOM
7. 2026-06-10
   days on market $44,900 Active 65 DOM
8. 2026-06-09
   days on market $44,900 Active 64 DOM
9. 2026-06-08
   days on market $44,900 Active 63 DOM
10. 2026-06-07
    days on market $44,900 Active 62 DOM
11. 2026-06-05
    days on market $44,900 Active 59 DOM
12. 2026-06-03
    days on market $44,900 Active 58 DOM
13. 2026-06-02
    days on market $44,900 Active 57 DOM
14. 2026-06-01
    days on market $44,900 Active 56 DOM
15. 2026-05-31
    days on market $44,900 Active 55 DOM
16. 2026-05-30
    days on market $44,900 Active 54 DOM
17. 2026-05-16
    price $49,900 1684-char remark

    Show marketing remark (1684 chars)

    Have you dreamed of having a seasonal get away minutes from the beaches of Wells & thought it couldn't happen? Come check out the home at Site 817 in Sea Vu South! This 1999 top of the line Breckenridge Park Model Home offers an open concept eat in kitchen & living room area that is fabulous for entertaining all in one space. The home is very clean & offers blinds throughout the home including the 3 season Florida room. The kitchen has functional cabinet space, large counters & full size appliances. My favorite thing about this home is the location in the back section of the park where it is abutting the woods & is a quieter section of the park but still close to the large pool, gym, laundry & snack shack. There is a fabulous stone fire pit in the yard to enjoy smores' & a small front porch that has newer composite decking! Sea Vu offers a convenient walking path right across from this home over to Rest View Lane to hop on the trolley (when running), bike/walk to the beach, or enjoy a meal at the Mikes Clam Shack, Steakhouse, or Congdons Donuts & Food trucks w/ out having to get into your car! The park offers a large pool, jacuzzi, clubhouse, laundry facilities, space to work & spare ''living rooms' in the clubhouse for your use. There are tons of activities for all ages throughout the season & lots of memories made! The park rent of 9,375 includes water, sewer, cable, internet, trash, and all the amenities at the park. There is basketball courts, playgrounds, fenced dog park, & so much more in this gated community. You can bring pets (but your guests can not!). Season is from May-October 30.

18. 2026-04-06
    listed $54,900 Active 1684-char remark

    Show marketing remark (1684 chars)

    Have you dreamed of having a seasonal get away minutes from the beaches of Wells & thought it couldn't happen? Come check out the home at Site 817 in Sea Vu South! This 1999 top of the line Breckenridge Park Model Home offers an open concept eat in kitchen & living room area that is fabulous for entertaining all in one space. The home is very clean & offers blinds throughout the home including the 3 season Florida room. The kitchen has functional cabinet space, large counters & full size appliances. My favorite thing about this home is the location in the back section of the park where it is abutting the woods & is a quieter section of the park but still close to the large pool, gym, laundry & snack shack. There is a fabulous stone fire pit in the yard to enjoy smores' & a small front porch that has newer composite decking! Sea Vu offers a convenient walking path right across from this home over to Rest View Lane to hop on the trolley (when running), bike/walk to the beach, or enjoy a meal at the Mikes Clam Shack, Steakhouse, or Congdons Donuts & Food trucks w/ out having to get into your car! The park offers a large pool, jacuzzi, clubhouse, laundry facilities, space to work & spare ''living rooms' in the clubhouse for your use. There are tons of activities for all ages throughout the season & lots of memories made! The park rent of 9,375 includes water, sewer, cable, internet, trash, and all the amenities at the park. There is basketball courts, playgrounds, fenced dog park, & so much more in this gated community. You can bring pets (but your guests can not!). Season is from May-October 30.

ⓘ 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: $445 · $37/mo
• Projected year-2 tax: $528 · $44/mo
• Expected delta: +$83/yr (+$7/mo · 18.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 6 d/yr ≥87°F today · 15 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: $22,326
• − Mortgage interest: −$2,515
• − Property taxes: −$445
• − Insurance: −$224
• − Repairs & maintenance: −$1,786
• − Management: −$1,786
• − HOA: −$9,348
• − Depreciation: −$1,306
• Taxable income: $4,915
• Est. tax owed @ 24.0%: −$1,180
• After-tax cash flow: $3,615/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

-9.1% since first listed

2 events — show timeline

• 2026-05-16 Price Changed $49,900 MREIS
• 2026-04-06 Listed $54,900 MREIS

Property tax history

+7.8%/yr

Latest (2025): $445 · +22.6% YoY. Source: county tax records.