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$920,000
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Property Description
Carefree enjoyment on southern Maine's most popular island! Authentic Maine cottage design meets refined elegance in this gorgeous Peaks Island summer home. Built in 2019 by a highly regarded craftsman, this stunning 3 Bedroom, 2 Bath home is a beautifully furnished* coastal retreat. With its vaulted ceilings, painted white framing, welcoming front porch, and quality materials, the cottage is spacious and inviting. Designed with impressive attention to detail, the interior makes good use of every inch. From the 1st floor BR, to the built-in bunk beds, to sitting areas, to the cook's kitchen, the cottage features amenities not commonly found in seasonal homes. The interior is a cheerful place to read, unwind, gather, cook, or puzzle/play games. Beauty flows outdoors where a level, sunny, oversized yard awaits. The grassy lot holds possibilities as does the garage (studio/playhouse/workshop). Perfect place for barbecues, badminton and entertainment. Low-maintenance landscaping compliments the island getaway experience. Perched above the road, the location is close to beaches and the famed TEIA club (social events, sailing, tennis, enrichment). The cottage is less than a mile to the bustling village/ferry landing. The 3.9 mile island loop offers daily adventure on foot or bicycle! A pleasant 15-minute ferry ride will transport you to the vibrant City of Portland where you'll enjoy world-class cuisine, nightlife, arts & entertainment, and shopping. Property is served by public water & sewer and has off-street parking. *some exclusions apply
Full Property Details
Full Property Details for 397 Island Ave
General
- Sold For: $920,000
- Taxes: $7,106 (2024)
- Status: Closed
- Type: Single Family
- Source: MREIS
- MLS ID: 1624586
- Added to Site: 233 day(s) ago
Interior
- Number of Rooms: 6
- Interior Features: 1st Floor Bedroom, Shower
- Appliances: Washer, Refrigerator, Microwave, Gas Range, Dryer, Disposal, Dishwasher
- Flooring: Wood
Rooms
Bathrooms
- Total Bathrooms: 2
- Full Bathrooms: 2
Bedrooms
- Total Bedrooms: 3
Other Rooms
- Laundry: Laundry - 1st Floor, Main Level
Exterior
- Porch/Patio/Deck: Porch
Parking
- Garage: Yes
- Parking Features: 1 - 4 Spaces, Gravel, On-Site Parking, Off Street
Location
- County: Cumberland
Community
- Pets Allowed: Yes
Heating & Cooling
- Cooling Type: None
- Heating Type: No Heating System
Utilities
- Sewer: Public Sewer
- Water: Public, Seasonal
Structural Information
- Architectural Style: Cottage
- Construction: Wood Siding, Wood Frame
- Roof: Shingle
- Building Size: 1755
- Square Feet: 1,755
- Sq. Ft. Source: Public Records
- Living Area: 1,755 Sq. Ft.
- Finished Total: 1,755 Sq. Ft.
- Finished Above Grnd: 1,755 Sq. Ft.
- Year Built: 2019
Lot Features
- Property View: Scenic
- Lot Size (Acres): 0.45
- Lot Size (Sq. Ft.): 19,602
- Lot Size Source: Public Records
- Zoning: IR-2
- Lot Description: Level, Near Public Beach
Financial Considerations
- Tax Amount: $7,106
- Tax Year: 2024
Disclosures and Reports
- Lot Number: O-8
Listed by Portside Real Estate Group (207) 536-4222
Sold by Non MREIS Agency
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Schools
Schools serving 397 Island Ave
School District:Portland
| Name | Grades | Distance |
|---|---|---|
Peaks Island School 4 Church AV, Portland, ME 04108 | K-5 | 0.3 mi |
King Middle School 92 Deering Avenue, Portland, ME 04102 | 6-8 | 4.1 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 397 Island Ave
Date
Details
Price
Change
Source
8/11/2025
Sold
$920,000
-2.65%
MLS
6/23/2025
Price Reduced
$945,000
-5.31%
MLS
5/30/2025
Listed
$998,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
397 Island Avenue, Portland, ME 04108 (MLS# 1624586) is a Single Family property that was sold at $920,000 on August 11, 2025. Want to learn more about 397 Island Avenue? Do you have questions about finding other Single Family real estate for sale in Portland? You can browse all Portland real estate or contact a Coldwell Banker agent to request more information.

