masterkey logo
281 Island Beach Rd
Wells, ME

281 Island Beach Rd

$4,271,800
5 bd • 3 ba • 2,493 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$4,271,800

Price/Sq.Ft

$1714

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This coastal property at 281 Island Beach Rd, Wells, ME offers an exceptional location with likely ocean views and beach access. The $1,713.52/sqft price suggests a premium waterfront location, significantly above the Wells average. With 5 bedrooms and 3 bathrooms in 2,493 sqft, it provides ample space for a large family or vacation rental potential. The property features a charming coastal design with dormer windows, a covered porch, and a white picket fence, enhancing its curb appeal. Its location on Island Beach Road indicates prime positioning in a desirable coastal area, potentially offering strong appreciation potential. The gravel driveway provides off-street parking for multiple vehicles, a valuable asset in a beach community.

The Bad

At $4,271,800, this property is significantly above the median home price in Wells, limiting the buyer pool. The price per square foot of $1,713.52 is exceptionally high, even for waterfront property. The lack of listed features and property description makes it difficult to justify the premium price. The gravel driveway may require more maintenance than a paved surface, especially in harsh coastal weather. Power lines visible in the image could potentially obstruct views. The property's proximity to the road might result in traffic noise during peak tourist seasons.

The Ugly

Being a coastal property, it likely faces high flood and storm surge risks, potentially leading to extremely high insurance costs. The unknown year built raises concerns about potential hidden structural issues, outdated systems, or non-compliance with current building codes. There's no information on utilities, which is crucial for coastal properties that may rely on well water and septic systems. The high price point and potential for additional costs (insurance, maintenance, utilities) could result in a total monthly ownership cost exceeding $25,000, assuming a 20% down payment and current mortgage rates.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is best suited for high-net-worth individuals or families seeking a luxury vacation home in a prime coastal location. It's ideal for those with annual incomes exceeding $1,000,000, given the high purchase price and potential ownership costs. The property would appeal to buyers who prioritize location over value metrics like price per square foot. It's well-suited for those looking to generate rental income during peak tourist seasons, potentially commanding weekly rates of $10,000+ during summer months based on its size and location.

Not For

This property is not suitable for first-time homebuyers or those seeking primary residences in the median income range of Wells ($71,090). It's not ideal for budget-conscious investors looking for immediate positive cash flow, as the high purchase price may outweigh potential rental income. The property isn't suitable for those uncomfortable with the risks associated with coastal living, including potential flooding and storm damage. Buyers seeking modern amenities or move-in ready homes should be cautious, given the lack of information about the property's features and systems.
Demographics
Area Median Income

$71,090

Price Prediction Challenge

Think you know what 281 Island Beach Rd will sell for? Put your market expertise to the test!

Be the first to predict

Your local insight could help set the benchmark for other buyers.

No predictions yet

Kick off the challenge by making your guess. You'll help other buyers get a feel for this property’s value—and you might just claim the top spot when it sells.

Unlock Premium Features

Supercharge Your Property Analysis

Get unlimited AI-powered insights and analysis to make confident decisions about any property you're interested in.

Best for serious buyers
  • Unlimited AI analysis
  • Unlimited AI chat
  • Advanced tools & insights
$24.92/mo
Billed yearlySave 17% ($60/year)
Cancel anytime • 30-day money-back guarantee

Risk Assessment

Risk Analysis

Coastal erosion and sea-level rise pose significant long-term risks to the property value and physical structure. The flood risk is likely high, potentially resulting in insurance premiums of $20,000+ annually. Without knowing the year built, there's a risk of outdated electrical, plumbing, or HVAC systems that could require costly upgrades. The tourist-driven market in Wells can be volatile, potentially affecting property values and rental income during economic downturns. Strict coastal zoning laws may limit future renovations or expansions. The high price point puts the property at risk of significant loss if the luxury market cools.

Financials

Monthly Costs

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Frequently Asked Questions

Property Discussion

Start the Conversation

Share your insights on this property—did you visit the open house? Know of any hidden pros or cons? Your street-level knowledge could be exactly what another buyer needs.

You
Potential Savings

$128,154

Analyze Any Property for Free

Get instant insights and potential savings on any Zillow® listing.

Free Analysis
AI-Powered Insights
Instant Results