Date
Details
Price
Change
Source
4/23/2026
Listed
$1,175,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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1/35
$1,175,000
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Property 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 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.
Full Property Details
Full Property Details for 494 Island Ave
General
- Price: $1,175,000
- Taxes: $12,369 (2026)
- Status: Active
- Type: Single Family
- Source: MREIS
- MLS ID: 1658995
- Updated: 6/9/2026
- Added to Site: 78 day(s) ago
Interior
- Number of Rooms: 5
- Interior Features: 1st Floor Bedroom, One-Floor Living
- Appliances: Microwave, Electric Range, Refrigerator, Washer
- Flooring: Carpet, Tile, Painted/Stained
Rooms
Bathrooms
- Total Bathrooms: 1
- Full Bathrooms: 1
Bedrooms
- Total Bedrooms: 2
Exterior
- Porch/Patio/Deck: Deck
Parking
- Parking Features: Gravel, Paved, 5 - 10 Spaces
Location
- County: Cumberland
Heating & Cooling
- Air Conditioning: Yes
- Cooling Type: Heat Pump
- Heating Type: Electric, Pellets, Propane, Baseboard, Direct Vent Heater, Heat Pump, Pellet Stove
Utilities
- Sewer: Septic Tank
- Water: Public
Structural Information
- Architectural Style: Other, Ranch
- Construction: Wood Frame, Shingle Siding
- Basement: Yes
- Basement Desc.: Interior Entry, Walk-Out Access, Daylight, Unfinished
- Roof: Shingle
- Square Feet: 576
- Sq. Ft. Source: Public Records
- Finished Total: 576 Sq. Ft.
- Finished Above Grnd: 576 Sq. Ft.
- Year Built: 1965
Lot Features
- Property View: Scenic
- Lot Size (Acres): 0.9
- Lot Size (Sq. Ft.): 39,204
- Zoning: IR-2, Shoreland
- Lot Description: Near Public Beach, Level, Open Lot
Water Features
- Water Front: Yes
- Water Front Name: Casco Bay, Atlantic Ocean
Financial Considerations
- Tax Amount: $12,369
- Tax Year: 2026
Disclosures and Reports
- Block: 3
- Lot Number: 1
Listed by Locations Real Estate Group LLC (207) 805-1811
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Listing agent
— 494 Island Ave —
Locations Real Estate Group LLC
207-805-1811
NMLS#: 1598647Get Pre-Approved Today
Schools
Schools serving 494 Island Ave
School District:Portland
| Name | Grades | Distance |
|---|---|---|
Peaks Island School 4 Church AV, Portland, ME 04108 | K-5 | 0.5 mi |
Howard C Reiche Community School 166 Brackett Street, Portland, ME 04102 | K-5 | 4 mi |
Deering High School 370 Stevens Avenue, Portland, ME 04103 | 9-12 | 5.2 mi |
Casco Bay High School 196 Allen Avenue, Portland, ME 04103 | 9-12 | 5.4 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 494 Island Ave
Tax History
Tax History for 494 Island Ave
Year
Property Taxes
Change
Tax Assessment
Change
2025
$12,369
20%
$1,032,500
50%
2024
$10,342
4%
$689,000
—
2023
$9,928
-4%
$689,000
-9%
2022
$10,303
5%
$757,000
—
2021
$9,833
-11%
$757,000
59%
2020
$11,086
—
$475,600
—
2019
$11,086
4%
$475,600
—
2018
$10,691
4%
$475,600
—
2017
$10,297
3%
$475,600
—
2016
$10,040
2%
$475,600
—
2015
$9,812
3%
$475,600
—
2014
$9,512
3%
$475,600
—
2013
$9,231
—
$475,600
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 494 Island Ave
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494 Island Avenue, Portland, ME 04108 (MLS# 1658995) is a Single Family property with 2 bedrooms and 1 full bathroom. 494 Island Avenue is currently listed for $1,175,000 and was received on April 23, 2026. Want to learn more about 494 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.