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    • Price cut: $119.9K (9/30)
    $879,999

    494 Island Avenue, Portland, ME 04108

    2beds
    716sqft
    : 
    $5,971/mo
    Get pre-qualified
    Single Family Residence
    Built in 1965
    0.9 Acres Lot
    $-- Zestimate®
    $1,229/sqft
    $-- HOA

    What's special

    Sandy beach frontagePerched along the shorelineOverlooking diamond passSweeping serene water views
    Here's your opportunity of a lifetime! This spectacular property is a truly rare offering with approximately 220 feet of ocean frontage overlooking Diamond Pass. Set well back from the road and perched along the shoreline, it captures sweeping, serene water views, sandy beach frontage (a rarity on the island), and a sense of peace and privacy that is increasingly hard to find. Whether it's mornings watching boats pass through the channel or quiet evenings at the water's edge, this is a setting that invites you to slow down and stay awhile. The existing home is ready for your vision--whether restoration, expansion, or reimagining. Whatever you choose, here's your opportunity to create something special in an extraordinary setting. Located near the island clubhouse and just steps from the water, there's potential for a mooring and possibly a dock (please verify). You're encouraged to perform your own due diligence regarding dock feasibility and accessory dwelling unit opportunities. It's rare to find this level of frontage, sandy beach access, and panoramic views in one property! Rarer still to have the opportunity to make it your own.
    168 days
    1,601
    83

    Zillow last checked:

    Listing updated:

    Listed by:

    Locations Real Estate Group LLC

    Source: Maine Listings,MLS#: 1658995MLS Logo

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 2
      • Bathrooms: 1
      • Full bathrooms: 1
      Bedroom 1
      • Level: First
      Bedroom 2
      • Level: First
      Kitchen
      • Level: First
      Living room
      • Level: First
      Sunroom
      • Level: First
      Heating
      • Baseboard, Direct Vent Heater, Heat Pump, Pellet Stove
      Cooling
      • Heat Pump
      Appliances
      • Included: Microwave, Electric Range, Refrigerator, Washer
      Features
      • 1st Floor Bedroom
      • Flooring: Carpet, Tile, Painted/Stained
      • Basement: Interior Entry,Walk-Out Access,Daylight,Unfinished
      • Has fireplace: No
      Interior area
      • Total structure area: 716
      • Total interior livable area: 716 sqft
      • Finished area above ground: 716
      • Finished area below ground: 0

      Property

      Parking
      • Parking features: Gravel, Paved, 5 - 10 Spaces
      Features
      • Patio & porch: Deck
      • Has view: Yes
      • View description: Scenic
      • Body of water: Casco Bay, Atlantic Ocean
      • Frontage length: Waterfrontage: 220,Waterfrontage Owned: 220
      Lot
      • Size: 0.9 Acres
      • Features: Near Public Beach, Level, Open Lot
      Details
      • Parcel number: PTLDM090BJ003001
      • Zoning: IR-2, Shoreland

      Construction

      Type & style
      • Home type: SingleFamily
      • Architectural style: Other,Ranch
      • Property subtype: Single Family Residence
      Materials
      • Wood Frame, Shingle Siding
      • Foundation: Block
      • Roof: Shingle
      Condition
      • Year built: 1965

      Utilities & green energy

      • Electric: Circuit Breakers
      • Sewer: Septic Tank
      • Water: Public

      Community & HOA

      Location
      • Region: Portland

      Financial & listing details

      • Price per square foot: $1,229/sqft
      • Tax assessed value: $689,000
      • Annual tax amount: $12,369
      • Date on market: 4/23/2026

        Estimated market value

        Not available

        Estimated sales range

        Not available

        Not available

        Price history

        DateEventPrice
        9/30/2026Price change$879,999-12%$1,229/sqft
        Source: Maine Listings #1658995 Report a problem
        7/29/2026Price change$999,900-14.9%$1,397/sqft
        Source: Maine Listings #1658995 Report a problem
        4/23/2026Listed for sale$1,175,000$1,641/sqft
        Source: Maine Listings #1658995 Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2024$9,928 $689,000
        2023$9,928 -3.6%$689,000 -9%
        2022$10,303 -7.1%$757,000 +59.2%
        2020$11,086 $475,600
        2019$11,086 +3.7%$475,600
        2018$10,691 +3.8%$475,600
        2017$10,297 +2.6%$475,600
        2016$10,040 +2.3%$475,600
        2015$9,812 +3.2%$475,600
        2014$9,512 +3%$475,600
        2013$9,231 +3.1%$475,600
        2012$8,951 +5.2%$475,600 +2.1%
        2011$8,511 +0.9%$465,600 -2.1%
        2009$8,437 $475,600
        2008$8,437 +8.8%$475,600
        2006$7,757 $475,600
        Find assessor info on the county website

        Monthly payment

        Est. payment

        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.
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        Climate risks

        Neighborhood: Peaks Island

        Getting around

        14 / 100
        Car-Dependent
        23 / 100
        Minimal Transit
        31 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating

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