1 Old County Rd #803 · Cape Neddick, ME 04090

$427,000

2 bd · 1.5 ba · 683 sqft · Condo public records · 19 Days on market

Built 2014 $395/mo HOA · 5% of rent

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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 +7.5/15.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Start the season fresh in this pristine & clean cottage built in the last phase of construction here at SeaGlass Village. This bright & airy cottage features abundant sun exposure on a desirable quiet road located off the beaten path. No expense was spared on the upgrades in this custom-built unit, including tray ceilings, a transom window & beautiful granite countertops in both kitchen and baths. Wood floors throughout & central A/C make this cottage a hot ticket in the amenity rich community of SeaGlass.

Key facts

• $395 HOA
• 2 parking spots
• Pool

Property features AI

Finance

• Other: Property located at 1 Old County Rd #803, Wells, ME; approximately 2.5 miles north of Ogunquit Center
• HOA & community: Monthly association fee ($395); Association allows up to 2 pets with breed restrictions; Community clubhouse

Exterior

• Parking: 1–4 parking spaces
• Security: Fire system
• Utilities: Public sewer; Public (and seasonal) water; Circuit breaker electric panel; Utilities currently on
• Home design: Condominium; Built in 2014; Seaglass Village subdivision
• Construction: Wood frame construction with clapboard and fiber cement siding; Pillar/post/pier foundation; Fiberglass roof
• Exterior features: Tennis court(s); In-ground pool; Near golf course, public beach, shopping, town and public transit; Subdivided lot in a cul-de-sac, level terrain; Private road access with gravel and dirt surface

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Bedroom 1 on the first floor; Bedroom 2 on the first floor
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fans; Electric tank water heater
• Interior features: One-floor living with attic and storage; First-floor bedroom; Bathtub; Furnished; Storm door(s); Double-pane windows; Cable and internet access available; Vaulted and cathedral ceilings
• Laundry & utility: Washer hookup on the main level; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $427k.

Deal economics

• At list price, monthly cash flow is $3k ($40k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $427k).
• Recommended offer: $421k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#58 in ME) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A; Watch: amenities F, commute F, cost of living 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 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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $120k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($421k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y 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 $260k; list at $427k implies a 64% gain — meaningful room to come down on a strong offer.

Recommended offer $420,595 (1.5% below list)

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 B-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: 1.87% ✓
• Cap rate: 15.56%
• Cash-on-cash: 33.11%
• DSCR: 2.47
• GRM: 4.5

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: 28.3%
• Equity multiple: 2.18×
• Total profit: $141,074
• Equity at exit: $63,667

10-year hold

• IRR: 35.8%
• Equity multiple: 4.30×
• Total profit: $394,040
• Equity at exit: $36,919

Cash invested: $119,560 (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: 4.5×

Monthly cashflow live

• Estimated rent: $7,992 medium
• Mortgage (P&I): −$2,239
• Tax from tax record: −$203 /mo · $2,432/yr
• Insurance: −$178
• HOA: −$395
• Vacancy / Maint / Mgmt: −$1,678
• Net cashflow: $3,299

Break-even live

Break-even rent $3,816

Max offer price $427,000

Occupancy floor 54%

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: $106,750
• Closing costs: $12,810
• 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	0.34mi

HOA detail condo

• Monthly dues: $395 · $4,740/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-15
   status $427,000 Pending 19 DOM
2. 2026-06-15
   days on market $427,000 Active Under Contract 19 DOM
3. 2026-06-14
   days on market $427,000 Active Under Contract 17 DOM
4. 2026-06-13
   days on market $427,000 Active Under Contract 16 DOM
5. 2026-06-10
   days on market $427,000 Active Under Contract 14 DOM
6. 2026-06-09
   days on market $427,000 Active Under Contract 13 DOM
7. 2026-06-08
   days on market $427,000 Active Under Contract 12 DOM
8. 2026-06-07
   statusdays on market $427,000 Active Under Contract 11 DOM
9. 2026-06-05
   days on market $427,000 Active 8 DOM
10. 2026-06-03
    days on market $427,000 Active 7 DOM
11. 2026-06-02
    days on market $427,000 Active 6 DOM
12. 2026-06-01
    days on market $427,000 Active 5 DOM
13. 2026-05-31
    days on market $427,000 Active 4 DOM
14. 2026-05-30
    days on market $427,000 Active 3 DOM
15. 2026-05-27
    listed $427,000 Active
16. 2018-09-12
    soldstatus $260,000 Sold 535-char remark

    Show marketing remark (535 chars)

    Start the season fresh in this pristine & clean cottage built in the last phase of construction here at SeaGlass Village. This bright & airy cottage features abundant sun exposure on a desirable quiet road located off the beaten path. No expense was spared on the upgrades in this custom built unit, including tray ceilings, a transom window & beautiful granite counter tops in both kitchen and baths. Wood floors throughout & Central AC make this cottage a hot ticket in the amenity rich community of SeaGlass.

17. 2018-09-12
    soldstatus $260,000 Closed 535-char remark

    Show marketing remark (535 chars)

    Start the season fresh in this pristine & clean cottage built in the last phase of construction here at SeaGlass Village. This bright & airy cottage features abundant sun exposure on a desirable quiet road located off the beaten path. No expense was spared on the upgrades in this custom built unit, including tray ceilings, a transom window & beautiful granite counter tops in both kitchen and baths. Wood floors throughout & Central AC make this cottage a hot ticket in the amenity rich community of SeaGlass.

18. 2018-07-17
    status Pending 535-char remark

    Show marketing remark (535 chars)

    Start the season fresh in this pristine & clean cottage built in the last phase of construction here at SeaGlass Village. This bright & airy cottage features abundant sun exposure on a desirable quiet road located off the beaten path. No expense was spared on the upgrades in this custom built unit, including tray ceilings, a transom window & beautiful granite counter tops in both kitchen and baths. Wood floors throughout & Central AC make this cottage a hot ticket in the amenity rich community of SeaGlass.

19. 2018-07-15
    status Pending 535-char remark

    Show marketing remark (535 chars)

    Start the season fresh in this pristine & clean cottage built in the last phase of construction here at SeaGlass Village. This bright & airy cottage features abundant sun exposure on a desirable quiet road located off the beaten path. No expense was spared on the upgrades in this custom-built unit, including tray ceilings, a transom window & beautiful granite countertops in both kitchen and baths. Wood floors throughout & central A/C make this cottage a hot ticket in the amenity rich community of SeaGlass.

20. 2018-04-11
    status Active 535-char remark

    Show marketing remark (535 chars)

    Start the season fresh in this pristine & clean cottage built in the last phase of construction here at SeaGlass Village. This bright & airy cottage features abundant sun exposure on a desirable quiet road located off the beaten path. No expense was spared on the upgrades in this custom built unit, including tray ceilings, a transom window & beautiful granite counter tops in both kitchen and baths. Wood floors throughout & Central AC make this cottage a hot ticket in the amenity rich community of SeaGlass.

21. 2018-04-11
    status Pending 535-char remark

    Show marketing remark (535 chars)

    Start the season fresh in this pristine & clean cottage built in the last phase of construction here at SeaGlass Village. This bright & airy cottage features abundant sun exposure on a desirable quiet road located off the beaten path. No expense was spared on the upgrades in this custom built unit, including tray ceilings, a transom window & beautiful granite counter tops in both kitchen and baths. Wood floors throughout & Central AC make this cottage a hot ticket in the amenity rich community of SeaGlass.

22. 2017-11-27
    listed $265,000 Active 535-char remark

    Show marketing remark (535 chars)

    Start the season fresh in this pristine & clean cottage built in the last phase of construction here at SeaGlass Village. This bright & airy cottage features abundant sun exposure on a desirable quiet road located off the beaten path. No expense was spared on the upgrades in this custom built unit, including tray ceilings, a transom window & beautiful granite counter tops in both kitchen and baths. Wood floors throughout & Central AC make this cottage a hot ticket in the amenity rich community of SeaGlass.

23. 2017-11-27
    listed $265,000 Active 535-char remark

    Show marketing remark (535 chars)

    Start the season fresh in this pristine & clean cottage built in the last phase of construction here at SeaGlass Village. This bright & airy cottage features abundant sun exposure on a desirable quiet road located off the beaten path. No expense was spared on the upgrades in this custom built unit, including tray ceilings, a transom window & beautiful granite counter tops in both kitchen and baths. Wood floors throughout & Central AC make this cottage a hot ticket in the amenity rich community of SeaGlass.

ⓘ 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: $2,432 · $203/mo
• Projected year-2 tax: $4,120 · $343/mo
• Expected delta: +$1,688/yr (+$141/mo · 69.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $95,904
• − Mortgage interest: −$23,919
• − Property taxes: −$2,432
• − Insurance: −$2,135
• − Repairs & maintenance: −$7,672
• − Management: −$7,672
• − HOA: −$4,740
• − Depreciation: −$12,422
• Taxable income: $34,912
• Est. tax owed @ 24.0%: −$8,379
• After-tax cash flow: $31,207/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 — Cape Neddick

• Score: 72/100
• State rank: #58
• US rank: #6028

Category grades

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

+61.1% since first listed

9 events — show timeline

• 2026-05-27 Listed $427,000 MREIS
• 2018-09-12 Sold (MLS) $260,000 PrimeMLS
• 2018-09-12 Sold (MLS) $260,000 MREIS
• 2018-07-17 Pending — PrimeMLS
• 2018-07-15 Pending — MREIS
• 2018-04-11 Relisted — PrimeMLS
• 2018-04-11 Pending — PrimeMLS
• 2017-11-27 Listed $265,000 MREIS
• 2017-11-27 Listed $265,000 PrimeMLS

Property tax history

+0.3%/yr

Latest (2025): $2,432 · +8.3% YoY. Source: county tax records.