494 Island Avenue, Portland, ME 04108

$1,175,000

Property Type: Residential Bedrooms: 2 Baths: 1 Square Footage: 576 Lot Size (sq. ft.): 39,204 Status: Active

Current Price: $1,175,000 List Date: 4/23/2026 Last Modified: 4/23/2026

Overview

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 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 ... (Read more)

Listing Details MLS# 1658995

Property Sub-Type

Property Sub-Type: Single Family Residence

Location Information

Street #: 494
Street Name: Island
Street Type: Avenue
County: Cumberland
Town: Portland
State/Province: ME
Zip Code: 04108
Zip +4: 1012
Leased Land: No
Book: 40254
Page: 103
Map: 90
Block: 03
Lot: 01
Zoning: IR-2, Shoreland
Zoning Overlay: Yes
Association: No
Full Tax Amount $: 12369
Tax Year: 2026
Tree Growth Y/N: No

Contract Information

Original List Price: 1175000

Property Information

Surveyed: No
Seasonal: No
Deed/Conveyance Type Offered: Quit Claim w/Covenant
Deed: All
# Rooms: 5
# Bedrooms: 2
Total Full Baths: Yes
Total Baths: Yes
Color: Gray
Year Built: 1965
SqFt Finished Above Grade: 576
SqFt Finished Total: 576
SqFt Source: Public Records
Garage: No
Lot Size Acres +/-: 0.9
Source of Acreage: Deed
Total Half Baths: 0
# Fireplaces: 0
SqFt Finished Below Grade: 0
Garage Spaces: 0

Water Info

Water Frontage: Yes
Waterfront Amount: 220
Water Frontage Owned: 220
Water View: Yes
Water Body Name: Casco Bay, Atlantic Ocean
Island: Yes
Water Frontage Shared: 0

Site

Level: Yes
Open: Yes

More Information

Location

Near Public Beach: Yes

Roads

Dead End: Yes
Other Road: Yes

Source of Water Frontage

Seller: Yes

Water Body Type

Bay: Yes
Harbor: Yes
Ocean: Yes

Recreational Water

Beach Rights: Yes
Oceanfront: Yes

Construction

Wood Frame: Yes

Basement

Daylight: Yes
Unfinished: Yes
Walk-Out Access: Yes

View

Scenic: Yes

Foundation Materials

Block: Yes

Exterior

Shingle Siding: Yes

Roof

Shingle: Yes

Heat System

Baseboard: Yes
Direct Vent Heater: Yes
Heat Pump: Yes
Pellet Stove: Yes

Appliances Included

Electric Range: Yes
Microwave: Yes
Refrigerator: Yes
Washer: Yes

Heat Fuel

Electric: Yes
Pellets: Yes
Propane: Yes

Cooling

Heat Pump: Yes

Floors

Carpet: Yes
Painted/Stained: Yes
Tile: Yes

Parking

5 - 10 Spaces: Yes

Style

Other: Yes
Ranch: Yes

Electric

Circuit Breakers: Yes

Bedroom 1

Bedroom 1: Yes
Bedroom 1 Level: First

Gas

Bottled: Yes

Sewer

Septic Tank: Yes

Bedroom 2

Bedroom 2: Yes
Bedroom 2 Level: First

Water

Public: Yes

Driveway

Gravel: Yes
Paved: Yes

Basement Entry

Interior: Yes

Water Heater

Electric: Yes

Amenities

1st Floor Bedroom: Yes
One-Floor Living: Yes

Patio and Porch Features

Deck: Yes

Vehicle Storage

No Vehicle Storage: Yes

Kitchen

Kitchen: Yes
Kitchen Level: First

Living Room

Living Room: Yes
Living Room Level: First

Sunroom

Sunroom: Yes
Sunroom Level: First

Property Features

Site: Level; Open Location: Near Public Beach Roads: Dead End; Other Road Source of Water Frontage: Seller Water Body Type: Bay; Harbor; Ocean Recreational Water: Beach Rights; Oceanfront View: Scenic Appliances Included: Electric Range; Microwave; Refrigerator; Washer Style: Other; Ranch Construction: Wood Frame Basement: Daylight; Unfinished; Walk-Out Access Basement Entry: Interior Foundation Materials: Block Roof: Shingle Exterior: Shingle Siding Heat System: Baseboard; Direct Vent Heater; Heat Pump; Pellet Stove Heat Fuel: Pellets; Propane Water Heater: Electric Cooling: Heat Pump Floors: Carpet; Painted/Stained; Tile Amenities: 1st Floor Bedroom; One-Floor Living Patio and Porch Features: Deck Driveway: Gravel; Paved Parking: 5 - 10 Spaces Vehicle Storage: No Vehicle Storage Electric: Circuit Breakers Gas: Bottled Sewer: Septic Tank Water: Public

Room Information

Room Name	Level
Kitchen	First
Living Room	First
Sunroom	First
Bedroom 1	First
Bedroom 2	First

Documents

Property Disclosure Public Access ›

Deed Public Access ›

Lead Paint Addendum Public Access ›

IDX

Listing Office: Locations Real Estate Group LLC

Last Updated: April - 23 - 2026

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 ©2026 Maine Real Estate Information System, Inc. All Rights Reserved. Equal Housing Opportunity.