430 Post Rd #33

Wells, ME 04090

$52,000D+

2 bd · 1.0 ba · 420 sqft · Built 1998 · Manufactured · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,205/mo
• Mortgage (P&I): −$273
• Tax + insurance: −$60
• HOA: −$842
• Vac / Maint / Mgmt: −$463
• Net cashflow: $566/mo
• Annual: $6,797/yr
• Cap rate: 19.36%
• Cash-on-cash: 46.69%
• DSCR: 3.08
• 1% rule: 4.24%
• Cash to close: $14,560

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $52k.
• At list price, monthly cash flow is $566 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $52k).
• It's been on market 22 days — a 2% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $51k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $360 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade D — 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.
• Watch-outs: HOA is 38% of rent.
• Market conditions: 267 active listings in the ZIP; 1,386 units permitted in York County in 2024 (338 in 5+ unit buildings).
• 3 sale attempts since 7y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.