494 Island AvenuePortland, ME 04108Price: $1,175,000

  • Price: $1,175,000
  • Est. Mortgage of $/month
  • 44 Days on Market
$
$
%
$/month over payments
Federal 30-year interest rate: 6.48% last updated on Jun 4, 2026
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $1,175,000List Price
  • 2Bedrooms
  • 1Bathrooms
  • 576Square Feet
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.
Listed by Shalene Johnson of Locations Real Estate Group LLC

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More Info

Tax Information

  • Parcel Number PTLD-000090-J000003-000001
  • Taxes$12,369

Basic Information

  • List Price$1,175,000
  • LocationTypeNear Public Beach
  • MLS Number1658995
  • Property SubTypeSingle Family Residence
  • Property TypeResidential
  • StatusACT

Interior

  • Interior Features 1st Floor Bedroom, One-Floor Living

Exterior

  • Exterior Shingle Siding
  • RoofShingle

Amenities

  • Amenities1st Floor Bedroom, One-Floor Living
  • Appliances IncludedMicrowave, Electric Range, Refrigerator, Washer
  • Other AmenitiesBasement, Beachfront, Waterfront, Water View

Other

  • Date Listed04/23/2026

Parking

  • Parking 5 - 10 Spaces
  • Parking Features Gravel, Paved,5 - 10 Spaces

Location

  • Address494 Island Avenue
  • Building Number494
  • CountyCumberland
  • StateME
  • StreetIsland Avenue
  • TownPortland
  • Zip04108

Property

  • Sign On Property YN Yes
  • Site Level, Open

Utilities

  • Cooling Heat Pump
  • Cooling YN Yes
  • Electric Circuit Breakers
  • Heat System
    • Baseboard
    • Direct Vent Heater
    • Electric
    • Heat Pump
    • Pellet Stove
    • Pellets
    • Propane
  • Heating FuelElectric, Pellets, Propane
  • Heating YN Yes
  • Recreational Water Beach Rights, Oceanfront

Rooms

  • Bathroom1
  • Bathrooms Total Decimal 1
  • Bedrooms2
  • Full Bath1

Building

  • BasementInterior Entry, Daylight, Unfinished
  • Basement Entry Interior
  • Building ConstructionWood Frame
  • Flooring Carpet, Tile, Painted/Stained
  • FoundationBlock
  • Patio And Porch Features Deck
  • Property StyleOther, Ranch
  • Rooms5
  • Year Built1965

Property Information

  • Acreage0.9
  • Lot Features Near Public Beach, Level, Open Lot
  • Square Feet576

Water Body

  • Water AccessPublic
  • Water Body NameCasco Bay, Atlantic Ocean
  • Water Body TypeBay, Harbor, Ocean
  • Water Info Island Yes
  • Water Info Water Frontage Owned 220
  • Water Info Waterfront Amount 220
  • Water ViewYes
  • WaterfrontYes

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

176 Stuart Shores - Portside Luxury Home participates in ©2026 Maine Listings Internet Data Exchange program, allowing us to display other Maine IDX Participants' listings. This website does not display complete listings. Certain listings of other real estate brokerage firms have been excluded. Mortgage figures are estimates. Check with your bank or proposed mortgage company for actual interest rates. This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.

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