23 College Dr Unit 26B · Wells, ME 04090

$79,900

1 bd · 1.0 ba · 418 sqft · Manufactured public records · 8 Days on market

Built 2008 $781/mo HOA · 41% of rent ↓ 16% 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 +26.9/30.0
• 1% rule +10.0/10.0
• DSCR +9.3/10.0
• 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 MLS

Are you looking for a southern Maine seasonal retreat close to the beach? This 2016 Woodland Park Grand Canyon park model manufactured home is located in one of the top summer resorts in Wells. Known for its beautiful grounds, extensive amenities, and weekly activities, Sea-Vu West has a large lodge with a video game room, billiards, a general store, and function room. Outside you will find a first-class pool area with a custom inground pool, separate kiddie splash pool, hot tub, and pool house with changing rooms & showers, walking trails, horseshoe pits, basketball, pickleball, a putting green, bocce courts, a playground, picnic area, and even a dog park! This park model is located on a corner lot in the highly desirable rear section of the resort. It has a queen bedroom with built-in wardrobes and dresser drawers, ¾ bath with a full-sized corner shower and comfort height commode, a large kitchen with full size appliances and a trestle island, a cathedraled living room with ceiling fan, and an additional sleeping loft with a queen mattress for guests. Custom blinds, upgraded living room curtains, and transom windows provide natural light and a sense of spaciousness with a home-like feeling. The full length sun porch has custom light filtering shades and provides a full-sized washer/dryer right in your unit! With central ducted HVAC and double-pane residential grade windows, your retreat will be comfortable no matter the weather for the entire season from Mother's Day to Columbus Day. This lovely park model is being offered furnished, right down to the grill, shed, and some outdoor furniture. Come take a look and see how close this is to all Wells and the southeast coast of Maine has to offer!

Key facts

• Open concept kitchen
• Stone fire pit
• Large pool

Tags

• OPEN CONCEPT KITCHEN
• CENTRAL AIR CONDITIONING
• CATHEDRAL CEILINGS
• FUNCTIONAL CABINET SPACE
• STONE FIRE PIT
• LARGE POOL

Property features AI

Finance

• Other: Association fee charged annually
• Financial info: Land lease on property
• HOA & community: Association present with annual fee

Exterior

• Parking: On-site parking with 1–4 spaces
• Utilities: Electric with circuit breakers; Public sewer; Public (seasonal) water source; Electric water heater
• Home design: Mobile home; Built in 2008
• Construction: Vinyl siding; Shingle roof
• Exterior features: Glassed-in porch; Patio; Located in a mobile home park; Level lot; Near golf course, public beach, shopping, turnpike/interstate, town, and railroad; Paved road access

Interior

• Kitchen: Cooktop; Microwave; Refrigerator
• Bedrooms: Primary bedroom on first floor; Second bedroom on second floor; Third bedroom on second floor
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Wall unit(s) for cooling
• Interior features: One-floor living; First-floor bedroom; Pantry; Shower; Furnished
• Laundry & utility: Washer and dryer included; Laundry located 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 $220 ($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 $552 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 ~9 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: HOA is 41% 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 $79,900

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: 2.38% ✓
• Cap rate: 9.60%
• Cash-on-cash: 11.82%
• DSCR: 1.53
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $40,964
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 College Dr #412	0.00mi	2/1.0 (+1)	407 (-3%)	17mo	$40,000	$98	76

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: 1.8%
• Equity multiple: 1.07×
• Total profit: $1,567
• Equity at exit: $11,913

10-year hold

• IRR: 11.9%
• Equity multiple: 1.96×
• Total profit: $21,379
• Equity at exit: $6,908

Cash invested: $22,372 (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: 3.5×

Monthly cashflow live

• Estimated rent: $1,903 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$50 /mo · $600/yr
• Insurance: −$33
• HOA: −$781
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $220

Break-even live

Break-even rent $1,624

Max offer price $79,900

Occupancy floor 83%

Sensitivity live

Price	-10% $266	-5% $243	+0% $220	+5% $198	+10% $175
Rent	-10% $70	-5% $145	+0% $220	+5% $296	+10% $371
Rate	-1.0pp $261	-0.5pp $241	base $220	+0.5pp $200	+1.0pp $179

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $781 · $9,372/yr
• Likely covers: landscapingpool

Listing history 7 events

1. 2026-06-18
   days on market $79,900 Active 8 DOM
2. 2026-06-17
   days on market $79,900 Active 7 DOM
3. 2026-06-16
   days on market $79,900 Active 6 DOM
4. 2026-06-15
   days on market $79,900 Active 5 DOM
5. 2026-06-14
   days on market $79,900 Active 3 DOM
6. 2026-06-13
   remarks 679-char remark
7. 2026-06-13
   listed $79,900 Active 2 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: $600 · $50/mo
• Projected year-2 tax: $843 · $70/mo
• Expected delta: +$243/yr (+$20/mo · 40.6%)

ⓘ 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: $22,841
• − Mortgage interest: −$4,476
• − Property taxes: −$600
• − Insurance: −$400
• − Repairs & maintenance: −$1,827
• − Management: −$1,827
• − HOA: −$9,372
• − Depreciation: −$2,324
• Taxable income: $2,015
• Est. tax owed @ 24.0%: −$483
• After-tax cash flow: $2,161/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

-15.9% since first listed

7 events — show timeline

• 2026-06-10 Listed $79,900 MREIS
• 2023-11-07 Delisted — MREIS
• 2023-11-03 Sold (MLS) $83,000 MREIS
• 2023-11-02 Pending — MREIS
• 2023-10-13 Contingent — MREIS
• 2023-10-07 Price Changed $85,000 MREIS
• 2023-09-14 Listed $95,000 MREIS

Property tax history

+2.0%/yr

Latest (2025): $600 · +6.2% YoY. Source: county tax records.