A rare opportunity in Gorham! Set on approximately 1.5 acres, 502 Ossipee Trail combines a 3-bedroom, 2-bath with a bonus room Cape with a full basement, finished two-story accessory building, expansive paved parking, and a large fenced backyard. The result is a distinctive property offering exceptional flexibility for an owner-operator, entrepreneur, or anyone who needs more room to live, work, create, or grow.
Formerly operated as a daycare, the detached accessory building offers infrastructure rarely found with a residential property, including finished space on both levels, existing plumbing, sinks, restroom facilities, and upper-level flex space. Subject to applicable approvals, possibilities may include conversion to an accessory apartment, renewed childcare use, or a qualifying resident-operated home occupation such as a professional office, personal-service or wellness space, instructional studio, creative workspace, or contractor's office. It could also provide valuable space for hobbies, storage, recreation, or other residential accessory uses.
The expansive paved parking area provides convenient access and room for multiple vehicles, while the spacious fenced backyard offers useful outdoor space. The main residence provides approximately 1,166 square feet of living area. Recent infrastructure improvements include a new boiler and electrical panel. The property has also been fully cleared out, giving the next owner a straightforward starting point for painting, cosmetic improvements, and personalization.
For someone maintaining separate home and workspace expenses, this property presents the possibility of bringing both together at one address. Live where you work, invest in your own property rather than continuing to lease separate space, and enjoy the flexibility to adapt as your needs evolve.
Bring your ideas and discover what this unique Gorham property could become.
Active under contract
$440,000
502 Ossipee Trail E, Gorham, ME 04038
3beds
2,357sqft
Single Family Residence
Built in 1977
1.5 Acres Lot
$437,000 Zestimate®
$187/sqft
$-- HOA
What's special
Large fenced backyardSpacious fenced backyardExpansive paved parkingFinished two-story accessory buildingBonus room capeFull basementNew boiler
- 57 days
- 203
- 2
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
EXP Realty
Source: Maine Listings,MLS#: 1675597
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 3
- Full bathrooms: 2
- 1/2 bathrooms: 1
Bedroom 1
- Level: First
Bedroom 2
- Level: Second
Bedroom 3
- Level: Second
Bonus room
- Level: First
Kitchen
- Level: First
Living room
- Level: First
Other
- Level: Second
Other
- Level: First
Heating
- Baseboard, Hot Water
Cooling
- None
Features
- 1st Floor Bedroom, Bathtub
- Flooring: Carpet, Luxury Vinyl
- Basement: Bulkhead,Interior Entry,Full
- Has fireplace: No
Interior area
- Total structure area: 2,357
- Total interior livable area: 2,357 sqft
- Finished area above ground: 2,357
- Finished area below ground: 0
Property
Parking
- Parking features: Paved, 5 - 10 Spaces, On Site, Off Street
Features
- Levels: Multi/Split
- Patio & porch: Deck
- Has view: Yes
- View description: Trees/Woods
Lot
- Size: 1.5 Acres
- Features: Near Shopping, Near Turnpike/Interstate, Near Town, Level, Open Lot, Landscaped, Wooded
Details
- Parcel number: GRHMM076B017L000
- Zoning: SR
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Cape Cod
- Property subtype: Single Family Residence
Materials
- Wood Frame, Clapboard
- Foundation: Poured Concrete
- Roof: Shingle
Condition
- Year built: 1977
Utilities & green energy
- Electric: Circuit Breakers
- Sewer: Private Sewer
- Water: Private
Community & HOA
Community
- Security: Fire System
Location
- Region: Gorham
Financial & listing details
- Price per square foot: $187/sqft
- Tax assessed value: $375,800
- Annual tax amount: $5,562
- Date on market: 8/10/2026
- Road surface type: Paved
Estimated market value
$437,000
$415,000 - $459,000
$3,447/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/26/2026 | Contingent | $440,000$187/sqft |
Source: | ||
| 8/10/2026 | Listed for sale | $440,000+219.1%$187/sqft |
Source: | ||
| 10/24/2000 | Sold | $137,900$59/sqft |
Source: Agent Provided Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $5,524 +6.9% | $375,800 |
| 2023 | $5,167 +7% | $375,800 |
| 2022 | $4,829 +3.3% | $375,800 +52.7% |
| 2020 | $4,676 +0.3% | $246,100 |
| 2019 | $4,664 +4.1% | $246,100 |
| 2018 | $4,479 +6.4% | $246,100 |
| 2017 | $4,208 +0.6% | $246,100 |
| 2016 | $4,184 +4.3% | $246,100 |
| 2015 | $4,011 +11.7% | $246,100 +19.2% |
| 2014 | $3,591 +0.6% | $206,400 |
| 2013 | $3,571 +6.2% | $206,400 |
| 2012 | $3,364 | $206,400 |
| 2011 | $3,364 +2.5% | $206,400 |
| 2009 | $3,282 -0.6% | $206,400 |
| 2008 | $3,302 +6.7% | $206,400 +29.4% |
| 2006 | $3,094 | $159,500 |
Find assessor info on the county website
Monthly payment
Est. payment






