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Offered at $400,000Active
beds
3
baths
1
sq ft
1,519
Built
1850

187 Congress Street

Portland, ME 04101

About this home

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.

Listing last checked: Listing updated:

Listed by Listing Agent · Keller Williams Realty · MLS #1678325

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Details at a glance

Interior5 property facts
Rooms
7
Heating
Oil, None
Cooling
None
Flooring
Other
Fireplaces
0
Building5 property facts
Style
Single Family Residence
Year built
1850
Garage
0
Foundation
Poured Concrete
Roof
Shingle
Land & utilities4 property facts
Lot size
0.06 acres
Water
Public
Sewer
Public Sewer
Zoning
B-1
Financial2 property facts
Annual taxes
$6,624
Assessment year
2025

Location

Estimated monthly cost

Explore costs at the $400,000 asking price. Adjust the assumptions to your situation.

Known monthly costs$2,575 / monthAdjust
Principal & interest
$2,023
Property tax
$552
Insurance
Not entered
HOA
Not entered

Listing annual taxes: $6,624. Initial monthly tax is one twelfth of that amount. HOA amount was not supplied.

Partial estimate: add insurance, monthly HOA to include those costs. Blank amounts are unknown.

The initial 6.5% rate is illustrative, not a current rate or lender quote. Excludes utilities, maintenance, closing costs and mortgage insurance, which may apply with a down payment below 20%. Taxes and insurance can change.

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About 187 Congress Street

Can I request a private showing?

Request a tour of 187 Congress Street and a Bean Group agent will help coordinate an available time with the listing side.

Can you help me evaluate this property?

Yes. We can discuss condition, comparable sales, offer strategy and the questions worth asking before you decide whether to proceed.

Are property documents available?

Availability varies by property and source. Request the documents you need and we will help obtain what is available.