A unique opportunity for investors or developers—this property includes a well-maintained two-family home plus an additional lot for a combined total of almost 2.8 acres. The current owner has already been in contact with the city, and there's potential to build multiple new homes (buyers encouraged to perform due diligence). The existing two-unit features classic charm with hardwood floors, high ceilings, original moldings, decks, and porches. Enjoy solid rental income or owner-occupy while exploring future development possibilities. A property with this much space and flexibility doesn't come around often!
Active
$999,000
1638 Forest Avenue, Portland, ME 04103
7beds
2,533sqft
Est.:
Multi Family
Built in 1920
-- sqft lot
$933,000 Zestimate®
$394/sqft
$-- HOA
What's special
Classic charmHigh ceilingsHardwood floorsAdditional lotWell-maintained two-family homeOriginal moldings
- 44 days |
- 640 |
- 17 |
Zillow last checked: 8 hours ago
Listing updated: October 27, 2025 at 08:20am
Listed by:
The Atlantic Real Estate Network
Source: Maine Listings,MLS#: 1641961
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 3
- Full bathrooms: 3
Heating
- Baseboard
Cooling
- None
Features
- 1st Floor Bedroom, Bathtub
- Flooring: Wood
- Windows: Double Pane Windows
- Basement: Bulkhead,Interior Entry,Brick/Mortar
Interior area
- Total structure area: 2,533
- Total interior livable area: 2,533 sqft
- Finished area above ground: 2,533
- Finished area below ground: 0
Property
Parking
- Parking features: Paved, 11 - 20 Spaces, Off Street
Features
- Levels: Multi/Split
- Has view: Yes
- View description: Trees/Woods
Lot
- Size: 2.79 Acres
- Features: Near Golf Course, Near Turnpike/Interstate, Near Town, Level, Open Lot, Sidewalks, Wooded
Details
- Additional structures: Shed(s)
- Parcel number: PTLDM299BD050001
- Zoning: RN-1
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Victorian
- Property subtype: Multi Family
Materials
- Wood Frame, Vinyl Siding
- Foundation: Brick/Mortar
- Roof: Shingle
Condition
- Year built: 1920
Utilities & green energy
- Electric: Circuit Breakers
- Sewer: Public Sewer
- Water: Public
Community & HOA
Location
- Region: Portland
Financial & listing details
- Price per square foot: $394/sqft
- Tax assessed value: $499,100
- Annual tax amount: $7,491
- Date on market: 10/27/2025
- Road surface type: Paved
Estimated market value
$933,000
$886,000 - $980,000
$3,449/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 10/27/2025 | Listed for sale | $999,000$394/sqft |
Source:  Maine Listings #1641961 Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $7,192 | $499,100 |
| 2023 | $7,192 +5.9% | $499,100 |
| 2022 | $6,793 +1.9% | $499,100 +74.6% |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$5,057/mo
Principal & interest
$3874
Property taxes
$833
Home insurance
$350
Climate risks
Neighborhood: Riverton
Nearby schools
GreatSchools rating
- 3/10Gerald E Talbot Community SchoolGrades: PK-5Distance: 0.1 mi
- 6/10Lincoln Middle SchoolGrades: 6-8Distance: 1.6 mi
- 5/10Casco Bay High SchoolGrades: 9-12Distance: 0.8 mi
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