NOT LISTED FOR SALE

501 Ocean Ave Wells, ME 04090

Estimated Value: $1,448,000 - $2,414,850

5 Beds
1 Bath
1,181 Sq Ft
$1,543/Sq Ft Est. Value

Last Sold September 03, 2020

Last sale price $880,000 $745 Per Sq Ft

Est. 107% increase in value since last sale

Current estimated payment $10,981/month

183 Days on Market

Highlights

  • Deeded Waterfront Access Rights
  • 33 Feet of Waterfront
  • Wood Flooring
  • Wells Junior High School Rated A-
  • Public Beach
  • Main Floor Bedroom

About This Home

As of September 2020

Original Turn of the Century Summer Beach Cottage on Sandy Moody (Ogunquit Beach) on a 4,587 Sq Foot Lot which is only 413 Sq feet Short of the Standard 5,000 Sq Foot Beach Lot. Do a Total Renovation on the 8 Room, 5 Bedroom Grandfathered Cottage. With the original open frame construction you can easily do an open Floor Plan Beach House. Also comes with a Small 2 car garage on a Separate Lot of Record That should be able to be Converted into a Separate Living Unit (Guest Quarters) with Permits. The Cottage has Town Water and Sewer, Full Bath, Fireplace and is Ready for a complete Restoration. Take the Existing Cottage and Garage Down and Build Your Dream 3 Story Beach House. This is a Under Size 33 foot wide lot but you own 33 FEET OF the Beach to the Low Water Mark. A chance to get on Private Moody (Ogunquit) Beach at a More Reasonable Price.

Last Agent to Sell the Property

Steve Weigel

Coldwell Banker Y-Gull & Associates Listed on: 01/16/2020

Coldwell Banker Y-Gull & Associates

Last Buyer's Agent

Shannon Baker

Anchor Real Estate

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $12,084

Year Built

  • Built in 1920

Lot Details

  • 4,792 Sq Ft Lot
  • 33 Feet of Waterfront
  • Ocean Front
  • Public Beach
  • Level Lot
  • Open Lot
  • Property is zoned RB

Parking

  • 2 Car Detached Garage
  • Gravel Driveway
  • Off-Street Parking

Property Views

  • Water
  • Scenic Vista

Home Design

  • Cottage
  • Pillar, Post or Pier Foundation
  • Wood Frame Construction
  • Pitched Roof
  • Shingle Roof
  • Wood Siding
  • Clap Board Siding
  • Clapboard

Interior Spaces

  • 1,181 Sq Ft Home
  • Wood Burning Fireplace
  • Living Room with Fireplace
  • Dining Room
  • Wood Flooring
  • Crawl Space
  • Electric Range

Bedrooms and Bathrooms

  • 5 Bedrooms
  • Main Floor Bedroom
  • 1 Full Bathroom
  • Shower Only

Outdoor Features

  • Deeded Waterfront Access Rights
  • Beach Access
  • Access to Tidal Water
  • Porch

Location

  • Property is near a golf course

Utilities

  • No Cooling
  • Heating System Uses Wood
  • Natural Gas Not Available
  • Electric Water Heater
  • Internet Available

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Tax Lot 135
  • Assessor Parcel Number WLLS-000112-000000-000163

Home Details

Home Type

Single Family

Est. Annual Taxes

$12,084

Year Built

Built in 1920

Lot Details

0

Parking

2

Listing Details

  • Property Sub Type: Single Family Residence
  • Prop. Type: Residential
  • Lot Size Acres: 0.11
  • Road Surface Type: Paved
  • Water Body Name: Atlantic
  • MLS Status: Closed
  • Directions: RT.1 NORTH FROM OGUNQUIT AT THE 1st SET OF LIGHTS GO RIGHT ON BOURNE AVE. TURN LEFT AT THE BEACH APPROX 1 MILE ON THE RIGHT (BEACH FRONT)
  • Above Grade Finished Sq Ft: 1181.0
  • Architectural Style: Cottage, Other Style
  • Garage Yn: Yes
  • Year Built: 1920
  • Location Information:Leased Land: No
  • Location Information:HERS Certified: No
  • Property Information:Seasonal: No
  • Property Information:Lot Size Acres -: 0.11
  • Property Information:Total Baths: 1.0
  • Property Information:SqFt Finished Above Grade: 1181.0
  • Property Information:Garage: Yes
  • Site:Level: Yes
  • Site:Open: Yes
  • Location:Near Golf Course: Yes
  • Water Info:Water Frontage2: Yes
  • Water Info:Water View2: Yes
  • Construction:Wood Frame: Yes
  • Roof:Shingle: Yes
  • Appliances Included:Electric Range: Yes
  • Cooling:None3: Yes
  • Floors:Wood3: Yes
  • Parking:Off Street: Yes
  • Sewer:Public Sewer: Yes
  • Water:Public3: Yes
  • Property Information:Garage Spaces: 2.0
  • Water Heater:Electric2: Yes
  • Amenities:_one_st Floor Bedroom: Yes
  • Amenities:Shower: Yes
  • Vehicle Storage:Detached: Yes
  • Vehicle Storage:_two_ Car: Yes
  • Dining Room:Dining Room: Yes
  • Living Room:Living Room: Yes
  • Gas:No Gas: Yes
  • Exterior:Clapboard: Yes
  • Parking:On Site2: Yes
  • Location:Near Public Beach: Yes
  • Exterior:Wood Siding: Yes
  • Basement:Crawl Space: Yes
  • Foundation Materials:PillarPostPier: Yes
  • Roof:Pitched: Yes
  • Recreational Water:Oceanfront: Yes
  • Heat Fuel:Wood2: Yes
  • Living Room Amenities:Wood Burning Fireplace14: Yes
  • Room Features:Wood Burning Fireplace29: Yes
  • Water Info:Waterfront Amount -: 33.0
  • Water Info:Water Frontage Owned -: 33.0
  • Recreational Water:Deeded: Yes
  • Style:Cottage: Yes
  • Driveway:Gravel: Yes
  • Equipment:Internet Access Available: Yes
  • View:Scenic: Yes
  • Recreational Water:Waterfront Tidal: Yes
  • Electric:Fuses: Yes
  • Recreational Water:Beach Rights: Yes
  • Heat System:No Heat System: Yes
  • Property Sub-Type Property Sub-Type: Single Family Residence
  • Property Information # Fireplaces: 1
  • Special Features: VirtualTour

Interior Features

  • Appliances: Electric Range
  • Has Basement: None, Crawl Space, Not Applicable
  • Full Bathrooms: 1
  • Total Bedrooms: 5
  • Fireplaces: 1
  • Fireplace: Yes
  • Interior Amenities: 1st Floor Bedroom, Shower
  • Bedroom 2 Level: Second
  • Bedroom 3 Level: Second
  • Bedroom 4 Bedroom 4 Level: Second
  • Dining Room Dining Room Level: First
  • Kitchen Kitchen Level: First
  • Living Room Living Room Level: First
  • Bedroom 1:Bedroom 1 Level: First
  • Bedroom 5:Bedroom 5 Level: Second

Exterior Features

  • Lot Features: Level, Open Lot, Near Golf Course, Near Public Beach, Near Town
  • View: Scenic
  • Waterfront Features: Ocean
  • Waterfront: Yes
  • Construction Type: Wood Siding, Clapboard, Wood Frame
  • Foundation Details: Pillar/Post/Pier
  • Patio And Porch Features: Porch
  • Roof: Pitched, Shingle
  • Patio and Porch Features:Porch: Yes

Garage/Parking

  • Attached Garage: No
  • Garage Spaces: 2.0
  • Parking Features: 1 - 4 Spaces, Gravel, On Site, Detached, Off Street

Utilities

  • Cooling: None
  • Cooling Y N: No
  • Heating: No Heat System
  • Heating Yn: Yes
  • Electric: Fuses
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Pets Allowed: No Restrictions

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 4791.6
  • Parcel #: WLLS-000112-000000-000163
  • Zoning: RB

Tax Info

  • Tax Annual Amount: 12084.0
  • Tax Book Number: 17532
  • Tax Lot: 135
  • Tax Map Number: 112
  • Tax Year: 2018

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 16, 2020
Closed on
Sep 3, 2020
Sold by
Cilley David
Bought by
Yurewicz Richard B
Seller's Agent
Steve Weigel
Coldwell Banker Y-Gull & Associates
Buyer's Agent
Shannon Baker
Anchor Real Estate
List Price
$879,900
Sold Price
$880,000
Premium/Discount to List
$100
0.01%
Current Estimated Value
$1,821,950

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$941,950
Avg. Annual Appreciation
13.13%
Original Mortgage
$660,000
Outstanding Balance
$589,403
Interest Rate
3%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$1,041,377

Purchase Details

Closed on
Aug 23, 2018
Sold by
Cilley Timothy E and Cilley Lucila G
Bought by
Cilley Timothy E and Cilley Lucila G

Purchase Details

Closed on
Jul 7, 2017
Sold by
Cilley Charles S
Bought by
Cilley Lucila G and Cilley Timothy E

Purchase Details

Closed on
Jul 5, 2017
Sold by
Cilley Charles D Est
Bought by
Charles D Cilley T

Purchase Details

Closed on
Apr 10, 2009
Sold by
Est Cilley Homer R and Chilley Charles S
Bought by
Cilley Charles S
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Yurewicz Richard B -- None Available
Cilley Timothy E -- --
Cilley Lucila G -- --
Charles D Cilley T -- --
Cilley Charles S -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Yurewicz Richard B $660,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/03/2020 09/03/20 Sold $880,000 0.0% $745 / Sq Ft
07/18/2020 07/18/20 Pending -- -- --
01/16/2020 01/16/20 For Sale $879,900 -- $745 / Sq Ft
Source: Maine Listings

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2023 $12,871 $2,159,610 $2,067,680 $91,930
2022 $12,248 $1,170,890 $1,117,440 $53,450
2021 $12,318 $1,170,890 $1,117,440 $53,450
2020 $12,271 $1,170,890 $1,117,440 $53,450
2019 $12,201 $1,170,890 $1,117,440 $53,450
2018 $12,485 $1,170,890 $1,117,440 $53,450
2017 $11,896 $1,170,890 $1,117,440 $53,450
2016 $11,779 $1,170,890 $1,117,440 $53,450
2015 $12,886 $1,295,060 $1,241,610 $53,450
2013 $11,811 $1,295,060 $1,241,610 $53,450
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Maine Listings

MLS Number: 1442583

Maine Listings

APN: WLLS-000112-000000-000163