23 College Dr #625 · Wells, ME 04090

$80,000

1 bd · 1.0 ba · 456 sqft · Manufactured public records · 7 Days on market

Built 2007 $781/mo HOA · 40% of rent

---

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 +28.6/30.0
• 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

Come enjoy Spring, Summer, and Fall at Sea Vu West! 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 625 in Sea Vu West! This 2007 top of the line Woodland 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 new blinds throughout the home including the 3 season Florida room, central air conditioning & multiple forced hot air heat vents. There is also a stackable washer & dryer! The kitchen has functional cabinet space, large counters & full size appliances. The

Key facts

• Open concept kitchen
• Large pool
• Parking

Tags

• OPEN CONCEPT KITCHEN
• 3 SEASON FLORIDA ROOM
• CENTRAL AIR CONDITIONING
• STACKABLE WASHER DRYER
• FUNCTIONAL CABINET SPACE
• LARGE POOL

Property features AI

Finance

• HOA & community: Has association; Association fee $9,375 annually; Property located in a mobile home park; Land lease in place

Exterior

• Parking: On-site parking with 1–4 spaces
• Utilities: Public sewer; Public (seasonal) water; Electric service with circuit breakers; Electric water heater
• Home design: Mobile Home; Built in 2007
• Construction: Vinyl siding; Shingle roof
• Exterior features: Glassed-in porch; Patio; In-ground pool; Spa; Located in a mobile home park; Intown location; Near golf course; Near public beach; Near shopping; Near turnpike/interstate; Near town; Level lot; Paved road

Interior

• Kitchen: Cooktop; Microwave; Refrigerator; Pantry
• Bedrooms: Bedroom 1 on first floor; Bedroom 2 on first floor; Bedroom 3 on second floor; Bedroom 4 on second floor
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air; Wall unit(s) for cooling
• Interior features: One-floor living; First-floor bedroom; Pantry; Shower; Furnished
• Laundry & utility: Washer; Dryer; Laundry on main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $264 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).

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; 1,386 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 $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 40% 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 $80,000

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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.44% ✓
• Cap rate: 10.25%
• Cash-on-cash: 14.12%
• DSCR: 1.63
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $44,688
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 College Dr #412	0.00mi	2/1.0 (+1)	407 (-11%)	17mo	$40,000	$98	63
150 Chapel Rd #813	0.54mi	2/1.0 (+1)	512 (+12%)	21mo	$45,000	$88	32

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: 4.9%
• Equity multiple: 1.19×
• Total profit: $4,302
• Equity at exit: $11,928

10-year hold

• IRR: 14.8%
• Equity multiple: 2.22×
• Total profit: $27,295
• Equity at exit: $6,917

Cash invested: $22,400 (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: 3.4×

Monthly cashflow live

• Estimated rent: $1,950 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$43 /mo · $515/yr
• Insurance: −$33
• HOA: −$781
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $264

Break-even live

Break-even rent $1,616

Max offer price $80,000

Occupancy floor 81%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $781 · $9,372/yr

Listing history 7 events

1. 2026-06-18
   days on market $80,000 Active 7 DOM
2. 2026-06-17
   days on market $80,000 Active 6 DOM
3. 2026-06-16
   days on market $80,000 Active 5 DOM
4. 2026-06-15
   days on market $80,000 Active 4 DOM
5. 2026-06-14
   days on market $80,000 Active 2 DOM
6. 2026-06-13
   remarks 675-char remark
7. 2026-06-13
   listed $80,000 Active 1 DOM

ⓘ 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: $515 · $43/mo
• Projected year-2 tax: $802 · $67/mo
• Expected delta: +$286/yr (+$24/mo · 55.6%)

ⓘ 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 7 d/yr ≥87°F today · 16 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: $23,399
• − Mortgage interest: −$4,481
• − Property taxes: −$515
• − Insurance: −$400
• − Repairs & maintenance: −$1,872
• − Management: −$1,872
• − HOA: −$9,372
• − Depreciation: −$2,327
• Taxable income: $2,559
• Est. tax owed @ 24.0%: −$614
• After-tax cash flow: $2,549/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

1 event — show timeline

• 2026-06-11 Listed $80,000 MREIS

Property tax history

+7.0%/yr

Latest (2025): $515 · +11.2% YoY. Source: county tax records.