Seller's Agent in 2025
John Krouse
EXP Realty
(207) 929-0956
1 in this area
94 Total Sales
340 Ocean St South Portland, ME 04106
Meetinghouse Hill Neighborhood
--
Bed
3
Baths
3,569
Sq Ft
4,792
Sq Ft Lot
Highlights
- Deck
- Wood Flooring
- No HOA
- Birmingham Covington School Rated A
- Victorian Architecture
- Baseboard Heating
About This Home
As of July 2025Discover a prime investment opportunity. This charming multi-family property features three spacious units, each with three bedrooms and one bathroom. Recent enhancements, including a roof replacement five years ago and various updates throughout, ensure the building's longevity and appeal. Each unit operates independently with separate electric meters and individual boilers, promoting tenant autonomy and streamlined management. The property boasts coin-operated laundry machines and generous side parking, adding convenience for residents. Financially, it stands out with high-producing gross monthly rents and low expenses, making it an attractive addition to any investment portfolio. Situated in a vibrant South Portland neighborhood, tenants benefit from proximity to Mill Creek Park, Bug Light Park, and the scenic Greenbelt Walkway, offering a blend of urban living and natural beauty. This property not only promises immediate returns but also long-term value in a sought-after location. Open Showing May 17th from 10am - Noon. IF NO VIDEO LINK IS AVAILABLE, INQUIRE TO RECEIVE ONE!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,904
Year Built
- Built in 1925
Home Design
- 3,569 Sq Ft Home
- Victorian Architecture
- Wood Frame Construction
- Shingle Roof
- Vinyl Siding
Flooring
- Wood
- Vinyl
Basement
- Basement Fills Entire Space Under The House
- Doghouse Basement Entry
Parking
- Driveway
- Paved Parking
Utilities
- No Cooling
- Heating System Uses Natural Gas
- Baseboard Heating
- Gas Water Heater
Additional Features
- 3 Full Bathrooms
- Deck
- 4,792 Sq Ft Lot
- City Lot
Listing and Financial Details
- Tax Lot 98
- Assessor Parcel Number 340OceanStreetSouthPortland04106
Community Details
Overview
- No Home Owners Association
- 3 Units
Building Details
- Operating Expense $15,533
- Gross Income $98,400
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 10, 2025
Closed on
Jul 9, 2025
Sold by
Ocean St Llc
Bought by
Jose Peter
Seller's Agent
John Krouse
EXP Realty
Buyer's Agent
Daniel Meuse
Hearth & Key Realty
List Price
$940,000
Sold Price
$950,000
Premium/Discount to List
$10,000
1.06%
Views
15
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$15,195
Avg. Annual Appreciation
4.26%
Original Mortgage
$712,500
Outstanding Balance
$710,092
Interest Rate
6.89%
Mortgage Type
New Conventional
Estimated Equity
$255,103
Purchase Details
Closed on
Oct 18, 2011
Sold by
Campbell Thomas C
Bought by
Stanford St Llc
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $950,000 | -- | |
| Warranty Deed | $950,000 | -- | |
| Warranty Deed | $950,000 | -- | |
| Quit Claim Deed | -- | -- | |
| Quit Claim Deed | -- | -- | |
| Quit Claim Deed | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $712,500 | New Conventional | |
| Closed | $712,500 | New Conventional |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/09/2025 07/09/25 | Sold | $950,000 | +1.1% | $266 / Sq Ft |
| 05/20/2025 05/20/25 | Pending | -- | -- | -- |
| 05/10/2025 05/10/25 | For Sale | $940,000 | -- | $263 / Sq Ft |
Source: Maine Listings
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $7,904 | $598,800 | $152,400 | $446,400 |
| 2023 | $6,845 | $484,100 | $94,700 | $389,400 |
| 2022 | $6,625 | $425,800 | $75,700 | $350,100 |
| 2021 | $6,259 | $425,800 | $75,700 | $350,100 |
| 2020 | $5,735 | $290,400 | $66,800 | $223,600 |
| 2019 | $5,416 | $290,400 | $66,800 | $223,600 |
| 2018 | $5,264 | $290,400 | $66,800 | $223,600 |
| 2017 | $6,350 | $290,400 | $66,800 | $223,600 |
| 2016 | $5,140 | $290,400 | $66,800 | $223,600 |
| 2015 | $5,053 | $290,400 | $66,800 | $223,600 |
| 2014 | $4,966 | $290,400 | $66,800 | $223,600 |
| 2013 | -- | $290,400 | $66,800 | $223,600 |
Source: Public Records
Agents Affiliated with this Home
-
John Krouse
-
Daniel Meuse
D
Buyer's Agent in 2025
Daniel Meuse
Hearth & Key Realty
(207) 450-9643
1 in this area
71 Total Sales
Map
Source: Maine Listings
MLS Number: 1621624
APN: 020 098
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