494 Island Ave

Portland, ME 04108

$1,175,000
Price
2
Beds
576 Sq. Ft.
$2,040 / Sq. Ft.
576
Sq. Ft.
$2,040
per Sq. Ft.
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Open: 5/23 11:30AM - 01:30PM
Open: 5/23 11:30AM - 01:30PM
Proximity to Clubhouse
494IslandAve-PeaksIsland-12
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494IslandAve-PeaksIsland-07
494IslandAve-PeaksIsland-11
Ocean side
Front yard
Clubhouse
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From Lawn
Front Yard
Frontyard
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Towards sunroom
From sunroom
From Sunroom
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Primary
Primary-
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Description

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...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. There will be an Open House Saturday May 23rd from 11:30 to 1:30 including other houses on the island.
  1. Listed by Shalene Johnson • Locations Real Estate Group LLC

Property Details for 494 Island Avenue

Waterfront
Yes
Waterfront Features
Oceanfront, Beach Rights
ArchitecturalStyle
Other, Ranch
Garage Spaces
.00
Garage
No
Zoning
IR-2, Shoreland
View
Scenic

Open Houses

Saturday, May 23rd11:30 AM - 1:30 PM
PublicView contact
LISTING UPDATED: 05/17/2026 10:15 AM

Property Details for 494 Island Avenue

StatusActive
MLS #1658995
Days on Market26
Taxes$12,369 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeSingle Family
MLS TypeResidential / Single Family Residence
Year Built1965
Lot Size0.90 AC / 39,204 SF
CountyCumberland County
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Location

Listing Courtesy of Locations Real Estate Group LLC
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Building Information for 494 Island Avenue

Stories-Year Built1965Building Size-Lot Size0.90 AC / 39,204 SF

Payment Calculator

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$6,886 per month

30 year fixed, 6.36% Interest

Principal and Interest

$5,855

Property Taxes

$1,031

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 494 Island Avenue

Summary
Location and General Information
  • Water Body Name: Casco Bay, Atlantic Ocean
  • Zip Code: 1012
  • Directions: Ferry to Peaks Island. Left at the top of the road onto Island Ave. Follow Island Ave to 494.
  • Town: Portland
  • State/Province: ME
  • Zip Code: 04108
  • County: Cumberland
  • Geo Latitude: 43.668106
  • Geo Longitude: -70.192309
  • Tax Lot: 01
  • Site:Level: Yes
  • Site:Open: Yes
  • Location:Near Public Beach: Yes
  • Water Info:Waterfront Amount +: 220.00
  • Water Info:Water Frontage Owned: 220.00
  • Water Info:Water Frontage Shared: .00
  • Source of Water Frontage:Seller: Yes
  • Recreational Water:Beach Rights: Yes
  • Recreational Water:Oceanfront: Yes
  • Construction: Wood Frame
  • Water View2: Yes
  • Tree Growth YN2: false
Parking
  • Parking Features: Gravel, Paved, 5 - 10 Spaces
  • Attached Garage: No
  • Parking: 5 - 10 Spaces
Taxes and HOA Information
  • Tax Book Number: 40254
  • Tax Block: 03
  • Tax Map Number: 90
  • Tax Year: 2026
  • Parcel Number: PTLD-000090-J000003-000001
  • Tax Annual Amount: $12,369.00
Property
Green Features
  • HERS Certified: No
Heating and Cooling
  • Water Heater:Electric: Yes
  • Heat Fuel: Electric, Pellets, Propane
  • Heat System: Baseboard, Direct Vent Heater, Heat Pump, Pellet Stove
Lot Information
  • SqFt Finished Below Grade: 0.0
  • SqFt Finished Above Grade: 576.0
  • Lot Size Acres: 0.9
  • Source of Acreage: Deed
  • Building Area Total: 576.0
  • Lot Size Area: 0.9
  • Lot Size Units: Acres
  • Lot Size Square Feet: 39204.0
  • Bedrooms Total: 2
  • Bathrooms Full: 1
  • Bathrooms Half: 0
  • Street Number: 494
  • Property Information:Surveyed: No
  • Property Information:Seasonal: No
  • Property Information:Deed/Conveyance Type Offered: Quit Claim w/Covenant
  • Property Information:Deed: All
  • Property Information:# Rooms: 5.00
  • Property Information:Total Half Baths: .00
  • Property Information:Color: Gray
  • Property Information:# Full Baths Basement: .00
  • Property Information:# Half Baths Basement: .00
  • Property Information:# Full Baths Level 1: 1.00
  • Property Information:# Half Baths Level 1: .00
  • Property Information:# Full Baths Level 2: .00
  • Property Information:# Half Baths Level 2: .00
  • Property Information:# Full Baths Level 3: .00
  • Property Information:# Half Baths Level 3: .00
  • Property Information:# Full Baths Upper: .00
  • Property Information:# Half Baths Upper: .00
Parking
  • Driveway:Gravel: Yes
  • Driveway:Paved: Yes
  • Driveway: Gravel, Paved2
Property and Assessments
  • Sign on Property: Yes
  • Leased Land: No
  • Property Type: Residential,Single Family Residence
  • Property Type Label: Residential
  • Property Sub-Type: Single Family Residence
  • Building Area Source: Public Records
  • Year Built: 1965
Utilities
  • Electric: True
  • Sewer: Septic Tank
  • Water Source: Public
  • Appliances Included:Electric Range: Yes
  • Appliances Included:Microwave: Yes
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Washer: Yes
  • Gas:Bottled: Yes
  • Water Heater: Electric2
  • Appliances: Washer, Refrigerator, Microwave, Electric Range
Interior and Exterior Features
Exterior Features
  • Construction Materials: Wood Frame, Shingle Siding
  • # Fireplaces: 0
  • Fireplace: No
  • Vehicle Storage:No Vehicle Storage: Yes
  • Roof: Shingle
  • Patio and Porch Features:Deck: Yes
  • Vehicle Storage: No Vehicle Storage
  • Patio and Porch Features: Deck
  • Basement Entry: Interior
Interior Features
  • Basement: Daylight, Unfinished, Walkout Access
  • Flooring: Carpet, Painted/Stained, Tile
  • Interior Features: 1st Floor Bedroom, One-Floor Living
  • Cooling: Heat Pump
  • Heating: Electric, Pellets, Propane, Baseboard, Direct Vent Heater, Heat Pump, Pellet Stove
  • Foundation Details: Block
  • Room Total: 5
  • Bathrooms Total (Integer): 1
  • Bathrooms Total (Decimal): 1.00
  • Bathrooms Total (Notational): 1.00
  • Cooling YN: Yes
  • Heating YN: Yes
  • Amenities: 1st Floor Bedroom, One-Floor Living
Room Information
Room 1
  • Room Type: Kitchen
  • Room Level: First
Room 2
  • Room Type: Living Room
  • Room Level: First
Room 3
  • Room Type: Sunroom
  • Room Level: First
Room 4
  • Room Type: Bedroom 1
  • Room Level: First
Room 5
  • Room Type: Bedroom 2
  • Room Level: First

Property History for 494 Island Avenue

DateEvent & SourcePriceAppreciation
Apr 23, 2026

Listed (Active)

Maine Listings #1658995

$1,175,000—
DateEvent & SourcePrice
04/23/2026

Listed (Active)

Maine Listings #1658995

$1,175,000

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

Public Records for 494 Island Avenue

Taxable ValueLand$848,000Additions$184,500Total$1,032,500
Tax Record2025$12,369 ($1,031 / month)
Home Facts
Beds2Baths1Total Finished SqFt576 SqFtAbove Grade Finished SqFt576 SqFtStories1Lot Size39,243 SqFtStyleSingle Family ResidenceYear Built1965CountyCUMBERLANDAPNPTLD M:090 B:J003001

Schools near 494 Island Avenue

This home is within Portland Public Schools.
Rating
School
Type
Grades
Distance
Peaks Island School
Public - PK to 5
King Middle School
Public - 6 to 8
Portland High School
Public - 9 to 12
Deering High School
Public - 9 to 12
Rating
School
Distance
Peaks Island School
PublicPK to 5

King Middle School
Public6 to 8

Portland High School
Public9 to 12

Deering High School
Public9 to 12

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 494 Island Avenue, Portland, ME 04108

494 Island Avenue is a single family home for sale in Portland, ME 04108. This property was listed for sale on April 23, 2026 by Locations Real Estate Group LLC, it's currently listed at $1,175,000. This listing's school district is Portland Public Schools. Nearby schools include Peaks Island School, King Middle School and Portland High School. 494 Island Avenue is a 2-bed, 1-bath, 576 sqft single family home built in 1965.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims 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 discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties make no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Locations Real Estate Group LLC

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.