242 Valley Street, Portland, ME 04102

Local realty services provided by:Better Homes and Gardens Real Estate The Masiello Group
242 Valley Street,Portland, ME 04102
$499,000
  • 2 Beds
  • 2 Baths
  • 1,281 sq. ft.
  • Single family
  • Active
Listed by: thomas landry
Office: benchmark real estate
MLS#:1633012
Source:ME_MREIS

Price summary

  • Price:$499,000
  • Price per sq. ft.:$389.54

About this home

A rare opportunity in Portland's vibrant St. John Street Valley neighborhood. This historic home has seen better days, but the foundation is solid and the potential is undeniable. Bring your tools, vision, and energy—this is a true sweat equity special, ideal for an owner-occupant, investor, or flipper looking to refurbish and resell for significant profit. The location is unbeatable: just off the peninsula and walkable to Maine Med, Mercy Hospital, Deering Oaks Park, Hadlock Field, the Western Prom, Portland's new pro soccer stadium, groceries, gastropubs, and more. Zoned B5—one of the city's most flexible and valuable zones—allowing residential, commercial, or mixed-use development up to 75' in height with limited setbacks. Whether you're looking to renovate, flip, or redevelop, this is a remarkable opportunity at just 399K. Sold as-is, where-is.

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Home facts

  • Year built:1900
  • Listing ID #:1633012
  • Updated:December 17, 2025 at 08:04 PM

Rooms and interior

  • Bedrooms:2
  • Total bathrooms:2
  • Full bathrooms:1
  • Half bathrooms:1
  • Living area:1,281 sq. ft.

Heating and cooling

  • Heating:Hot Water

Structure and exterior

  • Year built:1900
  • Building area:1,281 sq. ft.
  • Lot area:0.11 Acres

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$499,000
  • Price per sq. ft.:$389.54
  • Tax amount:$3,853 (2024)
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