Owner-occupied or exceptional investment opportunity in Portland! This well-maintained four-unit property features an attractive unit mix of two 1-bedroom, 1-bath apartments and two spacious 3-bedroom, 1-bath apartments. Each bright, sun-filled unit offers private deck or balcony access, providing desirable outdoor space for tenants. As an owner-occupied, you would have the potential of being exempt from Portland's rent control restrictions.
Recent capital improvements include a new roof in 2025 and a new natural gas boiler in 2024, offering peace of mind for years to come. Additional amenities include coin-operated laundry, natural gas heat, and a large in-town lot with ample off-street parking.
Conveniently located near the Western Promenade, downtown Portland, local restaurants, parks, shopping, and public transportation, this property offers strong rental appeal and easy access to many of the area's amenities. With a solid rental history, valuable recent updates, and a versatile unit mix, this is an excellent opportunity for investors looking to expand their portfolio in Portland's thriving rental market.
Active
$985,000
224 Valley Street, Portland, ME 04102
8beds
2,911sqft
Multi Family
Built in 1900
-- sqft lot
$944,700 Zestimate®
$338/sqft
$-- HOA
What's special
Natural gas heatCoin-operated laundryBright sun-filled unit
- 2 days |
- 288 |
- 6 |
Zillow last checked:
Listing updated:
Listed by:
Keller Williams Realty 207-553-2400
Source: Maine Listings,MLS#: 1668670
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Baseboard, Hot Water
Cooling
- None
Features
- Bathtub, Shower, Storage
- Flooring: Carpet, Vinyl, Wood
- Basement: Exterior Entry,Walk-Out Access,Partial
Interior area
- Total structure area: 2,911
- Total interior livable area: 2,911 sqft
- Finished area above ground: 2,911
- Finished area below ground: 0
Property
Parking
- Parking features: Common, Paved, 5 - 10 Spaces, On Site, Off Street
Features
- Stories: 3
- Patio & porch: Deck
Lot
- Size: 4,791 Square Feet
- Features: City Lot, Near Shopping, Near Turnpike/Interstate, Neighborhood, Rolling Slope, Sidewalks
Details
- Parcel number: PTLDM064BD019001
- Zoning: R6
- Other equipment: Internet Access Available
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Victorian
- Property subtype: Multi Family
Materials
- Wood Frame, Wood Siding
- Foundation: Stone, Brick/Mortar
- Roof: Shingle
Condition
- Year built: 1900
Utilities & green energy
- Electric: Circuit Breakers
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Utilities On
Community & HOA
Location
- Region: Portland
Financial & listing details
- Price per square foot: $338/sqft
- Tax assessed value: $659,700
- Annual tax amount: $9,902
- Date on market: 6/24/2026
- Road surface type: Paved
Estimated market value
$944,700
$897,000 - $992,000
$2,246/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/24/2026 | Listed for sale | $985,000+126.4%$338/sqft |
Source: | ||
| 2/25/2016 | Sold | $435,000$149/sqft |
Source: | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $9,506 | $659,700 |
| 2023 | $9,506 +5.9% | $659,700 |
| 2022 | $8,979 +37.5% | $659,700 +135.5% |
| 2020 | $6,529 | $280,100 |
| 2019 | $6,529 +3.7% | $280,100 |
| 2018 | $6,297 +3.8% | $280,100 |
| 2017 | $6,064 +2.6% | $280,100 |
| 2016 | $5,913 +2.3% | $280,100 |
| 2015 | $5,778 +3.1% | $280,100 |
| 2014 | $5,602 +3% | $280,100 |
| 2013 | $5,437 +3.1% | $280,100 |
| 2012 | $5,271 +2.9% | $280,100 |
| 2011 | $5,120 +3% | $280,100 |
| 2009 | $4,969 | $280,100 |
| 2008 | $4,969 +8.8% | $280,100 |
| 2006 | $4,568 | $280,100 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: Valley Street
Nearby schools
GreatSchools rating
- 3/10Howard C Reiche Community SchoolGrades: PK-5Distance: 0.6 mi
- 2/10King Middle SchoolGrades: 6-8Distance: 0.4 mi
- 4/10Portland High SchoolGrades: 9-12Distance: 1.1 mi
A local agent can set up tours, give advice and negotiate with sellers.
- Maine
- Cumberland County
- Portland
- 04102
- Valley Street
- 224 Valley Street








