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Adam Dow

| The Dow Group | #1 Real Estate Team in New Hampshire

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187 Congress St , Portland, ME 04101
$400,000
Est. Payment: $888.89/mo
3 Bed
1 Bath
1519 Sqft
Status: Active | Days on site: 6
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1898 - 018828,024076
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House Description

Rare B-1 zoning in Portland's East End -- and the hard part is already done. 187 Congress Street is an 1850 brick home on Munjoy Hill taken down to the studs: framing, systems, and the full stone-foundation basement are open and inspectable today, so a contractor can walk the actual structure and price the project up front. The B-1 Neighborhood Business Zone permits what the surrounding residential blocks cannot: two- to four-family and multi-family dwellings, live/work homes, professional offices, child care, retail, cafe/restaurant space, even a bed & breakfast -- with vertical mixed-use (business below, homes above) expressly encouraged. The house sits well back from the street behind an open front yard with an existing curb cut, and B-1's build-to standards invite new construction right at the sidewalk. Better still, the parcel lies outside the Munjoy Hill Historic District -- no Historic Preservation design review; projects proceed through standard permitting. All concepts are subject to City approvals and applicable requirements; verify all details with the City of Portland. Then there is the location: three blocks from the Portland Observatory, an easy stroll to the Eastern Promenade, and steps from the restaurants, groceries, and neighborhood businesses that make the Hill one of Maine's most walkable, sought-after addresses -- while staying convenient to downtown and the entire peninsula. Investor, developer, owner-occupant, or entrepreneur: restore it as a remarkable live/work home, rebuild it as multi-unit housing, or bring a storefront-plus-residences vision to the only parcel on these blocks where that is legal. A Vision Guide detailing six development concepts and the diligence behind each is available upon request. Opportunities with this combination of zoning, condition, and location don't come along every day.

Highlights

Listed by Michael Hamilton , 207-570-8998 and Richard Reynolds , 207-560-4883 Keller Williams Realty , 207-879-9800.

Property Type

Residential

Lot/Acreage
0.06

Year Built

1850

County

Cumberland

Listing ID

1678325

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:3
  • Bathrooms:1
  • Full Bathrooms:1
Above Ground Sq Ft:1519
Below Ground Sq Ft:0
Basement:Not Applicable,Full,Unfinished
Water:Public

Exterior Features

Lot:Business District,Intown,Near Shopping,Level,Sidewalks
Zoning:B-1
Roof:Shingle
Sewer:Public Sewer
Parking Features:Gravel,1 - 4 Spaces,On Site,Off Street
Principal Interest
$889
Taxes
$552

Home Price

$400,000

Loan Details

30 yrs
%

Down Payment

20%
$80,000
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Monthly Price:
$888.89

Principal

Taxes

Principal Taxes HOA Total
Monthly $888.89 $552.00 $0.00 $1,440.89
Yearly $10,666.67 $6,624.00 $0.00 $17,290.67
Total $320,000.00 $198,720.00 $0.00 $518,720.00

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Portland, ME).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.