1762 Post Rd #138 · Kennebunk, ME 04090

$159,900

1 bd · 1.0 ba · 448 sqft · Condo public records · 7 Days on market

Built 1986 $260/mo HOA · 14% of rent

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Why this score? — see what drove the C+ 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 +22.5/30.0
• Schools +7.6/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +7.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Start making summer memories in Wells--your coastal getaway awaits! YEAR-ROUND First-Floor Condo at Wellington Manor! Don't miss this opportunity to own a well-maintained, first-floor condo in one of Wells' most desirable coastal communities! This inviting unit offers easy, single-level living with a screened in porch that opens onto the common yard providing easy access to the pool, cooking on the grill and playing yard games. Enjoy resort-style amenities at the community clubhouse, featuring a full kitchen, pool table, entertaining space, sauna, bathrooms, and an indoor pool! Additional amenities include a basketball court, swing sets, and a firepit area, offering something for everyon

Key facts

• $260 HOA
• Pool
• Built 1986

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 8.3% vs local median 3.2% in Kennebunk — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 79/100 on livability (#20 in ME, #2,049 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: cost of living D+, amenities F, commute F.
• 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 21y 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

• Climate carrying-cost: major wind risk, 55% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,900

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. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 1.20% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.21%
• DSCR: 1.32
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -5.2%
• Equity multiple: 0.81×
• Total profit: $-8,651
• Equity at exit: $23,842

10-year hold

• IRR: 4.6%
• Equity multiple: 1.34×
• Total profit: $15,015
• Equity at exit: $13,825

Cash invested: $44,772 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,920 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$82 /mo · $990/yr
• Insurance: −$67
• HOA: −$260
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $269

Break-even live

Break-even rent $1,579

Max offer price $159,900

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $260 · $3,120/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-04-09
   status Pending
2. 2026-04-02
   listed $159,900 Active
3. 2005-03-29
   listed $105,900

ⓘ 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: $990 · $82/mo
• Projected year-2 tax: $1,582 · $132/mo
• Expected delta: +$592/yr (+$49/mo · 59.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥87°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 55% 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: $23,040
• − Mortgage interest: −$8,957
• − Property taxes: −$990
• − Insurance: −$800
• − Repairs & maintenance: −$1,843
• − Management: −$1,843
• − HOA: −$3,120
• − Depreciation: −$4,652
• Taxable income: $836
• Est. tax owed @ 24.0%: −$201
• After-tax cash flow: $3,029/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 — Kennebunk

• Score: 79/100
• State rank: #20
• US rank: #2049

Category grades

Amenities F Commute F Cost of living D+ Crime A+ Employment A+ Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

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

+51.0% since first listed

3 events — show timeline

• 2026-04-09 Pending — MREIS
• 2026-04-02 Listed $159,900 MREIS
• 2005-03-29 Listed $105,900 MREIS

Property tax history

+3.6%/yr

Latest (2025): $990 · +6.2% YoY. Source: county tax records.