290 Penney Road

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Active
$499,999
2,752 sqft$182/sqft
290 Penney Rd, New Gloucester, ME 04260
Est: $2,836/moGet pre-approved
Multi FamilyProperty Type
1.09 acresLot Size
1982Year Built
$182/sq ftPrice per sq ft
2 carsParking Spaces

Description

Discover this versatile and meticulously maintained property that offers a unique blend of residential and commercial potential. The property features three separate units: two spacious 2-bedroom, 1-bathroom units ideal for tenants or extended family, and a third unit permitted as a 1-chair hair salon, which the has been renting out as a comfortable studio apartment. A detached 2-car garage provides ample parking and storage, while each unit has its own separate utilities, simplifying management...Discover this versatile and meticulously maintained property that offers a unique blend of residential and commercial potential. The property features three separate units: two spacious 2-bedroom, 1-bathroom units ideal for tenants or extended family, and a third unit permitted as a 1-chair hair salon, which the has been renting out as a comfortable studio apartment. A detached 2-car garage provides ample parking and storage, while each unit has its own separate utilities, simplifying management and billing. The property has been very well cared for and is in excellent condition, reflecting pride of ownership. Currently generating over $5,000 per month, it offers strong income potential and cash flow. Additionally, the property has been pre-inspected for general building and septic systems, ensuring peace of mind with no surprises. Whether you're an owner-occupant looking for a live-in space with rental income or an investor seeking a turnkey asset with commercial flexibility, this property presents an outstanding opportunity to own a well-priced, income-producing asset with excellent future potential.
4 days on Market
  • Listed by: Gregory Hoar 207.653.7365 greg.hoar01@gmail.com • Maine Values Real Estate
Last updated: 09/02/2026 03:36 PM • Source: Maine Listings, MLS#: 1678845

Location

Listing Courtesy of Maine Values Real Estate
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$2,836 per month

30 year fixed, 6.55% Interest

Principal and Interest

$2,541

Property Taxes

$294

HOA Dues

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Property Information for 290 Penney Road

Property Details
  • Taxes: $3,532 / year
  • MLS Type: Multi-Family
  • County: Cumberland County
  • Architectural Style: Ranch
  • Has Waterfront: No
  • Zoning: Residential
Building Information
  • Stories: 1
  • Residences: 3
  • Year Built: 1982
  • Lot Size: 1.09 AC / 47,480 SF
Summary
Location and General Information
  • Water View: No
  • Page: 22
  • Zoning Overlay: No
  • Directions: Rt 202 to Gloucester Hill Road, Right onto Penney. GPS FRIENDLY
  • Latitude: 43.930917
  • Longitude: -$70.28
Taxes and HOA
  • Association: No
  • Parcel Number: NEWG-000004-000000-000030-D000000
  • Tax Lot: 30D
  • Tax Book Number: 33236
  • Tax Map Number: 4
  • Tax Year: 2025
  • Tax Annual Amount: $3,532.00
Parking
  • Parking Features: Gravel, 11 - 20 Spaces, Detached
  • Vehicle Storage: 2 Car, Detached
  • Has Attached Garage: No
  • Garage Spaces: 2.0
  • Has Garage: Yes
Property
Lot Information
  • Lot Features: Rural, Level
  • Lot Size Acres: 1.09
  • Lot Size Area: 1.09
  • Lot Size Source: Public Records
  • Lot Size Square Feet: 47480.4
  • Lot Size Units: Acres
  • Roads: Paved, Public
  • Road Surface Type: Paved
  • Road Frontage: false
  • Tree Growth: false
Property and Assessments
  • Above Grade Finished Area: 2176.0
  • Below Grade Finished Area: 576.0
  • Building Area Total: 2752.0
  • Property Type: Multi-Family
  • Year Built: 1982
Building Features
  • Levels: Multi-Level
  • Levels: Multi-Level, Bi-Level
  • Foundation Details: Poured Concrete, Slab
  • Construction Materials: Mobile, Wood Frame, Vinyl Siding
  • Other Structures: Outbuilding
  • Color: Tan
  • Stories: 1
Financial Information
  • List Price/SqFt: $229.78
Utilities
  • Electric: Circuit Breakers
  • Sewer: Private Sewer
  • Water Source: Private
  • Water Heater: Electric
  • Utilities On: No
Interior and Exterior Features
Exterior Features
  • Roof: Shingle
Interior Features
  • Bathrooms Full: 3
  • Bathrooms Total Decimal: 3.0
  • Bathrooms Total Integer: 3
  • Basement: Doghouse, Finished, Full, Partial
  • Patio And Porch Features: Deck
  • Cooling: Heat Pump
  • Has Cooling: Yes
  • Heating: Propane, Forced Air, Heat Pump
  • Has Heating: Yes
  • Flooring: Carpet, Laminate, Vinyl
Multi Family
Multi Family Information
  • # of 1 BD Units: 1
  • # of 2 BD Units: 2
  • Number Of Units Total: 3
Income & Expenses
  • Gross Income: $64,000.00
  • Operating Expense: $8,000.00
Unit Information
Unit 1
  • Num Full Baths: 1
  • Dedicated Electric Meter: Yes
  • Dedicated Gas Meter: Yes
  • Dedicated Water Heater: Yes
  • Refrigerator: Yes
  • Sewer: Yes
  • Water: Yes
  • Electric: No
  • Heat: No
  • Range: Yes
  • Lease: No
  • Level: First
  • Security Deposit: No
  • Actual Rent: $2,200.00
  • Beds Total: 2
  • Key: 4d8207990b5ce66afc20bf774fceae5c
  • Rooms Total: 8
Unit 2
  • Num Full Baths: 1
  • Dedicated Electric Meter: Yes
  • Dedicated Gas Meter: Yes
  • Dedicated Water Heater: Yes
  • Refrigerator: Yes
  • Sewer: Yes
  • Water: Yes
  • Electric: No
  • Heat: No
  • Range: Yes
  • Lease: No
  • Level: First
  • Security Deposit: No
  • Actual Rent: $2,000.00
  • Beds Total: 2
  • Key: b8715fbe7b17bf3ea01675251976c03d
  • Rooms Total: 6
Unit 3
  • Num Full Baths: 1
  • Dedicated Electric Meter: Yes
  • Dedicated Gas Meter: Yes
  • Dedicated Water Heater: Yes
  • Refrigerator: Yes
  • Sewer: Yes
  • Water: Yes
  • Electric: No
  • Heat: No
  • Range: Yes
  • Lease: No
  • Level: Basement
  • Security Deposit: No
  • Actual Rent: $1,200.00
  • Beds Total: 1
  • Key: e153542b1eb283b7689e2f9d41b740a0
  • Rooms Total: 3
Rental
Rent Information
  • Land Lease: No

Property History for 290 Penney Road

DateEvent & SourcePriceAppreciation
Sep 2, 2026

Listed (Active)

Maine Listings #1678845

$499,999—
Jun 29, 2016

Sold

Maine Listings #1247719

$123,500—
Jun 20, 2016

Pending

Maine Listings #1247719

—
DateEvent & SourcePrice
09/02/2026

Listed (Active)

Maine Listings #1678845

$499,999
06/29/2016

Sold

Maine Listings #1247719

$123,500
06/20/2016

Pending

Maine Listings #1247719

—

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 290 Penney Road

Taxable ValueLand$77,556Additions$150,725Total$228,281
Tax Record2025$3,532 ($294 / month)
Home Facts
Beds2Baths1Total Finished SqFt2,176 SqFtAbove Grade Finished SqFt2,176 SqFtStories1Lot Size47,480 SqFtStyleSingle Family ResidenceYear Built1982Year Renovated1998ZoningSEASONCountyCUMBERLANDAPNNEWG M:0004 L:0030-D

Schools near 290 Penney Road

This home is within Regional School Unit 15 Msad 15.
Rating
School
Type
Grades
Distance
Gray-New Gloucester Middle School
Public - 5 to 8
Gray-New Gloucester High School
Public - 9 to 12
Russell School
Public - K to 2
Memorial School
Public - K to 2
Rating
School
Distance
Gray-New Gloucester Middle School
Public5 to 8

Gray-New Gloucester High School
Public9 to 12

Russell School
PublicK to 2

Memorial School
PublicK to 2

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 290 Penney Road, New Gloucester, ME 04260

290 Penney Road is a multi-family home for sale in New Gloucester, ME 04260. This property was listed for sale on September 2, 2026 by Maine Values Real Estate, it's currently listed at $499,999. It has been on the market for a total of 4 days and was last sold on June 29, 2016. This listing's school district is Regional School Unit 15 Msad 15. Nearby schools include Gray-New Gloucester Middle School, Gray-New Gloucester High School and Russell School. 290 Penney Road is a 0-bed, 3-bath, 2,752 sqft multi-family home built in 1982.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Maine Values Real Estate

Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. © 2026 Maine Real Estate Information System, Inc. All Rights Reserved.