Real Estate Investing in Wells, Maine (04090)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 04090 (Wells, ME)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 47.4% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 25.2 — hard to cash-flow at these prices.
What’s happening in Wells, ME (04090)?
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Market Analysis: 04090 Wells
Investors eyeing 04090 need to respect the fundamentals at play. Home values of $593K come alongside slower price movement and elevated management overhead.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $593K asset, 04090 is the wrong submarket. If the plan prices in friction, the yield can still work.
From an investor standpoint, 04090 offers a low basis, the region around Wells has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Employment concentration in 04090 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
The right play in 04090 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Wells:
Property Strategy for 04090
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $209,974 | $1,420 | 4.9% | +8.1% | $209,974 |
| 2BR | $404,672 | $1,730 | 3.1% | +8.1% | $202,336 |
| 3BR | $645,347 | $2,320 | 2.6% | +9.7% | $215,116 |
| 4BR | $808,777 | $2,580 | 2.3% | +10.4% | $202,194 |
| 5BR | $1,320,380 | — | — | +10.6% | $264,076 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 04090 Compare?
| Metric | 04090 | Wells | Portland-South Portland, ME | Maine |
|---|---|---|---|---|
| Home Value | $592,791 | $592,791 | N/A | $401,109 |
| 5-Year CAGR | 8.1% | 8.1% | N/A | 8.6% |
| Avg Rent | $1,960 | $1,960 | N/A | - |
| Cap Rate | 2.6% | 2.6% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 04090 (Wells, ME). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $592,791 |
| Monthly Rent | $1,960 |
| Price-to-Rent | 25.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 10.7% |
📈 Home Appreciation
| 1-Year | +10.1% ▲ |
| 3-Year CAGR | +6.5% ▲ |
| 5-Year CAGR | +8.1% ▲ |
| 10-Year CAGR | +8.7% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 04090
Population: 11,544
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 04090
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 564 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the average home sale price in Wells, ME?
Expect median prices around $593K in Wells, ME. The market has run at a 0.0% 5-year CAGR, so entry costs have been reliable.
How strong is the working-renter base in Wells, ME?
The renter base in Wells, ME is reasonable for the $1,960/mo price point. Screening well and pricing to market typically yields consistent tenants.
Are eviction rules reasonable in Wells, ME?
For rental operators, Wells, ME rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Does house hacking make sense in Wells, ME?
House hacking in Wells, ME is reasonable to execute. Prices around $593K and rents of $1,960/mo solid owner-occupant economics.
What is the rental occupancy rate in Wells, ME?
Wells, ME vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
You know 04090 now. You don’t know where it ranks.
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How 04090 ranks in Portland-South Portland, ME
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