454 Post Rd #119 · Wells, ME 04090

$350,000

2 bd · 1.0 ba · 606 sqft · Condo public records · 90 Days on market

Built 2006 $578/sqft · 27% above area Est $346k · at est. $507/mo HOA · 6% of rent ↓ 3% since listing

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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 +6.9/15.0
• 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

GREAT NEW PRICE -- DELIVERING EVEN GREATER VALUE!! Welcome to your dream coastal retreat! Listed just in time to close and enjoy the brand-new season at Summer Village. This beautifully maintained cottage, designed in the highly coveted 'Friendship' style, is ideally located just minutes from the beach - a bright and inviting interior features CENTRAL AIR for warm summer days and a stunning custom-designed mural that adds a one-of-a-kind artistic touch to the living space. Lovingly cared for and thoughtfully maintained, with granite countertops and island updated appliances. The cottage offers warmth and charm ideal for relaxing seasonal living, memorable weekend getaways, or entertaining loved ones and guests. The community features an impressive array of resort-style amenities, including three sparkling swimming pools -This cottage is just steps away from the exclusive adult (18+) pool and the family pool at the front of the Summer Village complex. Enjoy endless recreation with a playground, bocce court, tennis courts, a fully equipped fitness gym, and a game room for fun-filled evenings. Ideally situated just a short drive from the beautiful beaches of Ogunquit and Wells, along with their renowned restaurants, charming shops, coastal attractions, this exceptional cottage offers the very best of seaside living in an unbeatable location.

Key facts

• Bocce court
• Three swimming pools
• Granite countertops

Tags

• CUSTOM-DESIGNED MURAL
• GRANITE COUNTERTOPS
• RESORT-STYLE AMENITIES
• THREE SWIMMING POOLS
• PLAYGROUND
• BOCCE COURT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $350k.

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 $350k).
• Recommended offer: $329k (6.0% 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 90 days — a 6% lower offer ($329k) is reasonable based on typical stale-listing flexibility.

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 $329,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 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. 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 2.28% ✓
• Cap rate: 18.82%
• Cash-on-cash: 44.73%
• DSCR: 2.99
• GRM: 3.6

CMA / ARV

• ARV (median comp): $345,616
• List price: $350,000
• Delta: 1.27%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.8%
• Equity multiple: 2.80×
• Total profit: $176,220
• Equity at exit: $52,186

10-year hold

• IRR: 48.0%
• Equity multiple: 5.63×
• Total profit: $454,138
• Equity at exit: $30,262

Cash invested: $98,000 (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): −$1,835
• Tax from tax record: −$172 /mo · $2,068/yr
• Insurance: −$146
• HOA: −$507
• Vacancy / Maint / Mgmt: −$1,678
• Net cashflow: $3,653

Break-even live

Break-even rent $3,368

Max offer price $350,000

Occupancy floor 49%

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: $87,500
• Closing costs: $10,500
• 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: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $350,000 Active 90 DOM
2. 2026-06-17
   days on market $350,000 Active 89 DOM
3. 2026-06-16
   days on market $350,000 Active 88 DOM
4. 2026-06-15
   days on market $350,000 Active 87 DOM
5. 2026-06-14
   days on market $350,000 Active 85 DOM
6. 2026-06-13
   days on market $350,000 Active 84 DOM
7. 2026-06-10
   days on market $350,000 Active 82 DOM
8. 2026-06-09
   days on market $350,000 Active 81 DOM
9. 2026-06-08
   days on market $350,000 Active 80 DOM
10. 2026-06-07
    days on market $350,000 Active 79 DOM
11. 2026-06-05
    days on market $350,000 Active 76 DOM
12. 2026-06-03
    days on market $350,000 Active 75 DOM
13. 2026-06-02
    days on market $350,000 Active 74 DOM
14. 2026-06-01
    days on market $350,000 Active 73 DOM
15. 2026-05-31
    days on market $350,000 Active 72 DOM
16. 2026-05-30
    days on market $350,000 Active 71 DOM
17. 2026-05-06
    price $350,000 1360-char remark

    Show marketing remark (1360 chars)

    GREAT NEW PRICE -- DELIVERING EVEN GREATER VALUE!! Welcome to your dream coastal retreat! Listed just in time to close and enjoy the brand-new season at Summer Village. This beautifully maintained cottage, designed in the highly coveted 'Friendship' style, is ideally located just minutes from the beach - a bright and inviting interior features CENTRAL AIR for warm summer days and a stunning custom-designed mural that adds a one-of-a-kind artistic touch to the living space. Lovingly cared for and thoughtfully maintained, with granite countertops and island updated appliances. The cottage offers warmth and charm ideal for relaxing seasonal living, memorable weekend getaways, or entertaining loved ones and guests. The community features an impressive array of resort-style amenities, including three sparkling swimming pools -This cottage is just steps away from the exclusive adult (18+) pool and the family pool at the front of the Summer Village complex. Enjoy endless recreation with a playground, bocce court, tennis courts, a fully equipped fitness gym, and a game room for fun-filled evenings. Ideally situated just a short drive from the beautiful beaches of Ogunquit and Wells, along with their renowned restaurants, charming shops, coastal attractions, this exceptional cottage offers the very best of seaside living in an unbeatable location.

18. 2026-04-14
    price $355,000 1360-char remark

    Show marketing remark (1360 chars)

    GREAT NEW PRICE -- DELIVERING EVEN GREATER VALUE!! Welcome to your dream coastal retreat! Listed just in time to close and enjoy the brand-new season at Summer Village. This beautifully maintained cottage, designed in the highly coveted 'Friendship' style, is ideally located just minutes from the beach - a bright and inviting interior features CENTRAL AIR for warm summer days and a stunning custom-designed mural that adds a one-of-a-kind artistic touch to the living space. Lovingly cared for and thoughtfully maintained, with granite countertops and island updated appliances. The cottage offers warmth and charm ideal for relaxing seasonal living, memorable weekend getaways, or entertaining loved ones and guests. The community features an impressive array of resort-style amenities, including three sparkling swimming pools -This cottage is just steps away from the exclusive adult (18+) pool and the family pool at the front of the Summer Village complex. Enjoy endless recreation with a playground, bocce court, tennis courts, a fully equipped fitness gym, and a game room for fun-filled evenings. Ideally situated just a short drive from the beautiful beaches of Ogunquit and Wells, along with their renowned restaurants, charming shops, coastal attractions, this exceptional cottage offers the very best of seaside living in an unbeatable location.

19. 2026-04-11
    price $358,000 1360-char remark

    Show marketing remark (1360 chars)

    GREAT NEW PRICE -- DELIVERING EVEN GREATER VALUE!! Welcome to your dream coastal retreat! Listed just in time to close and enjoy the brand-new season at Summer Village. This beautifully maintained cottage, designed in the highly coveted 'Friendship' style, is ideally located just minutes from the beach - a bright and inviting interior features CENTRAL AIR for warm summer days and a stunning custom-designed mural that adds a one-of-a-kind artistic touch to the living space. Lovingly cared for and thoughtfully maintained, with granite countertops and island updated appliances. The cottage offers warmth and charm ideal for relaxing seasonal living, memorable weekend getaways, or entertaining loved ones and guests. The community features an impressive array of resort-style amenities, including three sparkling swimming pools -This cottage is just steps away from the exclusive adult (18+) pool and the family pool at the front of the Summer Village complex. Enjoy endless recreation with a playground, bocce court, tennis courts, a fully equipped fitness gym, and a game room for fun-filled evenings. Ideally situated just a short drive from the beautiful beaches of Ogunquit and Wells, along with their renowned restaurants, charming shops, coastal attractions, this exceptional cottage offers the very best of seaside living in an unbeatable location.

20. 2026-03-20
    listed $360,000 Active 1360-char remark

    Show marketing remark (1360 chars)

    GREAT NEW PRICE -- DELIVERING EVEN GREATER VALUE!! Welcome to your dream coastal retreat! Listed just in time to close and enjoy the brand-new season at Summer Village. This beautifully maintained cottage, designed in the highly coveted 'Friendship' style, is ideally located just minutes from the beach - a bright and inviting interior features CENTRAL AIR for warm summer days and a stunning custom-designed mural that adds a one-of-a-kind artistic touch to the living space. Lovingly cared for and thoughtfully maintained, with granite countertops and island updated appliances. The cottage offers warmth and charm ideal for relaxing seasonal living, memorable weekend getaways, or entertaining loved ones and guests. The community features an impressive array of resort-style amenities, including three sparkling swimming pools -This cottage is just steps away from the exclusive adult (18+) pool and the family pool at the front of the Summer Village complex. Enjoy endless recreation with a playground, bocce court, tennis courts, a fully equipped fitness gym, and a game room for fun-filled evenings. Ideally situated just a short drive from the beautiful beaches of Ogunquit and Wells, along with their renowned restaurants, charming shops, coastal attractions, this exceptional cottage offers the very best of seaside living in an unbeatable location.

ⓘ 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: $2,068 · $172/mo
• Projected year-2 tax: $3,414 · $284/mo
• Expected delta: +$1,346/yr (+$112/mo · 65.1%)

ⓘ 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: −$19,605
• − Property taxes: −$2,068
• − Insurance: −$1,750
• − Repairs & maintenance: −$7,672
• − Management: −$7,672
• − HOA: −$6,084
• − Depreciation: −$10,182
• Taxable income: $40,870
• Est. tax owed @ 24.0%: −$9,809
• After-tax cash flow: $34,028/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

-2.8% since first listed

4 events — show timeline

• 2026-05-06 Price Changed $350,000 MREIS
• 2026-04-14 Price Changed $355,000 MREIS
• 2026-04-11 Price Changed $358,000 MREIS
• 2026-03-20 Listed $360,000 MREIS

Property tax history

+3.1%/yr

Latest (2025): $2,068 · +6.3% YoY. Source: county tax records.