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242 Valley StreetPortland, ME 04102Price: $499,000

  • Price: $499,000
  • Est. Mortgage of $/month
  • 100 Days on Market
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Federal 30-year interest rate: 6.22% last updated on Nov 6, 2025
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $499,000List Price
  • 2Bedrooms
  • 2Bathrooms
  • 0.11Acreage
  • 1,281Square Feet

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Listed by Thomas Landry of Benchmark Real Estate
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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Listing data is derived in whole or in part from the Maine IDX & is for consumers' personal, non commercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. ©2025 Maine Real Estate Information System, Inc. All Rights Reserved. equal opportunity housing logo   Privacy Policy

Great Island Realty participates in ©2025 Maine Listings Internet Data Exchange program, allowing us to display other Maine IDX Participants' listings. This website does not display complete listings. Certain listings of other real estate brokerage firms have been excluded. Mortgage figures are estimates. Check with your bank or proposed mortgage company for actual interest rates. This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.

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