378 Sanford Rd · Wells, ME 04090

$560,000

5 bd · 3.5 ba · 1,976 sqft · MultiFamily public records · 4 Days on market

Built 1953 0.74 ac lot $283/sqft · at area comps Est $570k · at est.

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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
• ARV discount +8.3/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Here is your amazing opportunity to own in Wells!! This home with a in-law apartment is perfect for rental income. The home features a 4 bedrooms, 2.5 bathrooms on . 74 acres with easy access to downtown Wells, a quick drive to the beach, and the highway! This property is perfect for an investment in such a highly sought after area and is already rented! The main home is currently rented for $2600 a month and the apartment was rented for $1100 a month and it now vacant! The home also has solar panels, your electricity bill is only $13 a month!! Don't wait to come and see this property today!!

Key facts

• 0.74 acre lot
• Garage
• Built 1953

Property features AI

Exterior

• Parking: On-site paved parking for 5–10 vehicles; Attached garage (1 garage space)
• Utilities: Public water; Public sewer; Electric system includes energy storage device, circuit breakers, combination service, and generator hookup
• Home design: Single-family residence; Multi-level layout; Cape Cod and contemporary style; Post & Beam construction; Ceiling fans
• Construction: Shingle roof
• Exterior features: Deck; Porch; Shed(s); Scenic and wooded views; Near public transit

Interior

• Bedrooms: First-floor bedroom with balcony/deck and full bath (Bedroom 1); Second-floor bedroom with closet (Bedroom 2); Second-floor bedroom with closet (Bedroom 3); Second-floor bedroom with closet (Bedroom 4)
• Flooring: Carpet; Tile; Wood; Engineered hardwood
• Bathrooms: Three full bathrooms; One half bathroom
• Heating & cooling: Has heating; Direct vent heater; Hot water heating
• Interior features: Ten total rooms; Unfurnished; Basement with exterior entry

What this means for you Summary

Snapshot

• This is a 5-bed/3.5-bath multifamily listed at $560k.

Deal economics

• At list price, monthly cash flow is $5k ($58k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $560k).

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 $4k of loan paydown is wiped out by about $17k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $157k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 18y 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 $465k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• 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 $560,000

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.87% ✓
• Cap rate: 16.69%
• Cash-on-cash: 37.14%
• DSCR: 2.65
• GRM: 4.4

CMA / ARV

• ARV (median comp): $569,655
• List price: $560,000
• Delta: -1.69%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 33.0%
• Equity multiple: 2.39×
• Total profit: $218,204
• Equity at exit: $83,498

10-year hold

• IRR: 40.0%
• Equity multiple: 4.75×
• Total profit: $587,525
• Equity at exit: $48,419

Cash invested: $156,800 (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: 19.0×

Monthly cashflow live

• Estimated rent: $10,490 medium
• Mortgage (P&I): −$2,937
• Tax from tax record: −$265 /mo · $3,175/yr
• Insurance: −$233
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,203
• Net cashflow: $4,852

Break-even live

Break-even rent $4,348

Max offer price $560,000

Occupancy floor 49%

Sensitivity live

Price	-10% $5,169	-5% $5,011	+0% $4,852	+5% $4,694	+10% $4,535
Rent	-10% $4,024	-5% $4,438	+0% $4,852	+5% $5,267	+10% $5,681
Rate	-1.0pp $5,134	-0.5pp $4,995	base $4,852	+0.5pp $4,707	+1.0pp $4,560

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$4,908
▸ 3× units	1	1	$5,580
Total (5 units)			$10,490

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: $140,000
• Closing costs: $16,800
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-05-11
   status Pending 890-char remark
2. 2026-05-07
   listed $560,000 Active 890-char remark
3. 2023-07-20
   soldstatus $465,000 Closed 601-char remark

   Show marketing remark (601 chars)

   Here is your amazing opportunity to own in Wells!! This home with a in-law apartment is perfect for rental income. The home features a 4 bedrooms, 2.5 bathrooms on . 74 acres with easy access to downtown Wells, a quick drive to the beach, and the highway! This property is perfect for an investment in such a highly sought after area and is already rented! The main home is currently rented for $2600 a month and the apartment was rented for $1100 a month and it now vacant! The home also has solar panels, your electricity bill is only $13 a month!! Don't wait to come and see this property today!!

4. 2023-06-13
   status Pending 601-char remark

   Show marketing remark (601 chars)

   Here is your amazing opportunity to own in Wells!! This home with a in-law apartment is perfect for rental income. The home features a 4 bedrooms, 2.5 bathrooms on . 74 acres with easy access to downtown Wells, a quick drive to the beach, and the highway! This property is perfect for an investment in such a highly sought after area and is already rented! The main home is currently rented for $2600 a month and the apartment was rented for $1100 a month and it now vacant! The home also has solar panels, your electricity bill is only $13 a month!! Don't wait to come and see this property today!!

5. 2023-06-08
   historical Active Under Contract 601-char remark

   Show marketing remark (601 chars)

   Here is your amazing opportunity to own in Wells!! This home with a in-law apartment is perfect for rental income. The home features a 4 bedrooms, 2.5 bathrooms on . 74 acres with easy access to downtown Wells, a quick drive to the beach, and the highway! This property is perfect for an investment in such a highly sought after area and is already rented! The main home is currently rented for $2600 a month and the apartment was rented for $1100 a month and it now vacant! The home also has solar panels, your electricity bill is only $13 a month!! Don't wait to come and see this property today!!

6. 2023-05-17
   listed $485,000 Active 601-char remark

   Show marketing remark (601 chars)

   Here is your amazing opportunity to own in Wells!! This home with a in-law apartment is perfect for rental income. The home features a 4 bedrooms, 2.5 bathrooms on . 74 acres with easy access to downtown Wells, a quick drive to the beach, and the highway! This property is perfect for an investment in such a highly sought after area and is already rented! The main home is currently rented for $2600 a month and the apartment was rented for $1100 a month and it now vacant! The home also has solar panels, your electricity bill is only $13 a month!! Don't wait to come and see this property today!!

7. 2022-09-21
   price $560,000
8. 2022-09-08
   price $599,000
9. 2016-09-02
   soldstatus $263,000 Sold
10. 2016-07-13
    status Pending
11. 2016-05-05
    price $272,400
12. 2016-01-11
    listed $274,900 Active

ⓘ 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: $3,175 · $265/mo
• Projected year-2 tax: $5,396 · $450/mo
• Expected delta: +$2,220/yr (+$185/mo · 69.9%)

ⓘ 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 ≥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: $125,880
• − Mortgage interest: −$31,369
• − Property taxes: −$3,175
• − Insurance: −$2,800
• − Repairs & maintenance: −$10,070
• − Management: −$10,070
• − Depreciation: −$16,291
• Taxable income: $52,105
• Est. tax owed @ 24.0%: −$12,505
• After-tax cash flow: $45,725/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

+220.0% since first listed

20 events — show timeline

• 2026-05-11 Pending — MREIS
• 2026-05-07 Listed $560,000 MREIS
• 2023-07-20 Sold (MLS) $465,000 MREIS
• 2023-06-13 Pending — MREIS
• 2023-06-08 Contingent — MREIS
• 2023-05-17 Listed $485,000 MREIS
• 2022-10-08 Delisted — MREIS
• 2022-09-21 Price Changed $560,000 MREIS
• 2022-09-08 Price Changed $599,000 MREIS
• 2022-08-29 Listed $608,000 MREIS
• 2016-09-02 Sold (MLS) $263,000 MREIS
• 2016-07-13 Pending — MREIS
• 2016-05-05 Price Changed $272,400 MREIS
• 2016-01-11 Listed $274,900 MREIS
• 2016-01-09 Delisted — MREIS
• 2015-07-08 Listed $274,900 MREIS
• 2014-04-18 Listed $278,000 MREIS
• 2013-07-08 Listed $299,000 MREIS
• 2013-05-17 Listed $299,000 MREIS
• 2008-04-03 Listed $175,000 MREIS

Property tax history

+2.6%/yr

Latest (2025): $3,175 · +6.3% YoY. Source: county tax records.