242 Valley Street, Portland, ME 04102
$499,000
Property Type:
Residential
Bedrooms:
2
Baths:
2
Square Footage:
1,281
Lot Size (sq. ft.):
4,792
Status:
Active
Current Price:
$499,000
List Date:
8/04/2025
Last Modified:
11/14/2025
Description
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.
Supplements: ********
More Information MLS# 1633012
Property Sub-Type
Property Sub-Type: Single Family Residence
Location Information
Book: 35253
Leased Land: No
Page: 165
Map: 64
Block: D
Lot: 13
Zoning Overlay: Unknown
Association: No
Entrance Fee: 0
School District: Portland Public Schools
Tree Growth Y/N: No
Street #: 242
Street Name: Valley
Street Type: Street
County: Cumberland
Town: Portland
State/Province: ME
Zip Code: 04102
Zip +4: 3009
Zoning: B2b
Neighborhood Association: West End
Full Tax Amount $: 3853
Tax Year: 2024
Geo Lat: 43.652234
Geo Lon: -70.278534
Property Information
Surveyed: Unknown
Seasonal: No
Deed/Conveyance Type Offered: Warranty
Deed: All
Deed Restrictions: Unknown
Bank Owned REO: No
2 Detached Houses on 1 Lot: No
Lot Size Acres +/-: 0.11
# Rooms: 4
Total Baths: 2
Total Half Baths: 1
Color: White
Road Frontage: Yes
# Fireplaces: 0
Road Frontage +/-: 50
Source of Road Frontage: Public Records
SqFt Finished Above Grade: 1281
SqFt Finished Below Grade: 0
SqFt Source: Public Records
Garage: No
Garage Spaces: 0
# Bedrooms: 2
Total Full Baths: 1
Year Built: 1900
SqFt Finished Total: 1281
Source of Acreage: Public Records
Site
Level: 1
Open: 1
Sidewalks: 1
Location
Business District: 1
Interior Lot: 1
Intown: 1
Near Country Club: 1
Near Golf Course: 1
Near Public Beach: 1
Near Railroad: 1
Near Shopping: 1
Near Town: 1
Near Turnpike/Interstate: 1
Neighborhood: 1
Roads
Paved: 1
Public: 1
Transportation
Major Road Access: 1
Near Airport: 1
Public Transport Access: 1
Rail Available: 1
Water Info
Water Frontage: No
Water View: No
Recreational Water
Nearby: 1
Public: 1
Construction
Wood Frame: 1
Levels
Multi-Level: 1
Basement
Full: 1
Partial: 1
Unfinished: 1
Walk-Out Access: 1
Exterior
Vinyl Siding: 1
Roof
Shingle: 1
Heat System
Hot Water: 1
Heat Fuel
Oil: 1
Cooling
None: 1
Floors
Carpet: 1
Vinyl: 1
Wood: 1
Parking
On Street: 1
Style
New Englander: 1
Other: 1
Electric
Circuit Breakers: 1
Bedroom 1
Bedroom 1: 1
Bedroom 1 Level: Second
Utilities
Utilities On: Yes
Gas
No Gas: 1
Sewer
Public Sewer: 1
Bedroom 2
Bedroom 2: 1
Bedroom 2 Level: Second
Water
Public: 1
Driveway
No Driveway: 1
Basement Entry
Interior: 1
Water Heater
Off Heating System: 1
Vehicle Storage
No Vehicle Storage: 1
Kitchen
Kitchen: 1
Kitchen Level: First
Living Room
Living Room: 1
Living Room Level: First
Contract Information
Status: Active
Original List Price: 399000
List Price: $499,000
Current Price: $499,000
Property Features
Site: Level; Open; Sidewalks
Location: Business District; Interior Lot; Intown; Near Country Club; Near Golf Course; Near Public Beach; Near Railroad; Near Shopping; Near Town; Near Turnpike/Interstate; Neighborhood
Roads: Paved; Public
Transportation: Major Road Access; Near Airport; Public Transport Access; Rail Available
Recreational Water: Nearby; Public
Style: New Englander; Other
Levels: Multi-Level
Construction: Wood Frame
Basement: Full; Partial; Unfinished; Walk-Out Access
Basement Entry: Interior
Roof: Shingle
Exterior: Vinyl Siding
Heat System: Hot Water
Heat Fuel: Oil
Water Heater: Off Heating System
Cooling: None
Floors: Carpet; Vinyl; Wood
Driveway: No Driveway
Parking: On Street
Vehicle Storage: No Vehicle Storage
Electric: Circuit Breakers
Gas: No Gas
Sewer: Public Sewer
Water: Public
Room Information
Kitchen
Level: First
Living Room
Level: First
Bedroom 1
Level: Second
Bedroom 2
Level: Second
Property Disclosure ›
Listing Office:
Benchmark Real Estate
IDX
Last Updated: November - 14 - 2025
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. Copyright ©2022 Maine Real Estate Information System, Inc. All Rights Reserved. Equal Housing Opportunity.