$391,000
SOLD MAR 10, 2025

5 Wallace Ln Orono, ME 04473

4 Beds
2 Baths
2,138 Sq Ft
0.31 Acres

Recently Sold

$183 Per Sq Ft

1% Below List Price

13 Days on Market

Highlights

  • Nearby Water Access
  • Country Club
  • Colonial Architecture
  • Orono Middle School Rated A
  • View of Trees or Woods
  • 4-minute walk to Marden Park

About This Home

As of March 2025

This beautifully maintained 4-bedroom Colonial home in Orono is just minutes from the University of Maine, offering both privacy and convenience.

Nestled on a quiet, private road, the home features a spacious and well-appointed layout, with gleaming hardwood floors throughout. The inviting yard is perfect for outdoor activities, while a small deck provides a peaceful retreat to enjoy the surrounding nature.

A two-car garage offers plenty of storage and parking space.

With its combination of classic Colonial charm, meticulous upkeep, and proximity to the university, this home is a rare find in a sought-after location.

Last Agent to Sell the Property

Gwyneth Freeman

Better Homes & Gardens Real Estate/The Masiello Group Listed on: 01/22/2025

Better Homes & Gardens Real Estate/The Masiello Group

Last Buyer's Agent

Eric Bell

NextHome Experience

NextHome Experience

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $3,849

Year Built

  • Built in 1966

Lot Details

  • 0.31 Acre Lot
  • Property fronts a private road
  • Dirt Road
  • Landscaped
  • Interior Lot
  • Level Lot

Parking

  • 2 Car Garage
  • Driveway

Home Design

  • Colonial Architecture
  • Wood Frame Construction
  • Shingle Roof
  • Vinyl Siding

Interior Spaces

  • Mud Room
  • Living Room
  • Dining Room
  • Views of Woods

Kitchen

  • Electric Range
  • Dishwasher

Flooring

  • Wood
  • Carpet
  • Laminate

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Full Bathrooms

Laundry

  • Dryer
  • Washer

Basement

  • Walk-Out Basement
  • Interior and Exterior Basement Entry

Outdoor Features

  • Nearby Water Access

Location

  • Property is near a golf course
  • City Lot

Utilities

  • No Cooling
  • Heating System Uses Oil
  • Baseboard Heating
  • Natural Gas Not Available

Listing and Financial Details

  • Probate Listing
  • Tax Lot 003-028
  • Assessor Parcel Number 5wallacelaneorono04473

Community Details

Overview

  • No Home Owners Association

Recreation

  • Country Club

Home Details

Home Type

Single Family

Est. Annual Taxes

$3,849

Year Built

Built in 1966

Lot Details

0

Parking

2

Listing Details

  • Property Sub Type: Single Family Residence
  • Prop. Type: Residential
  • Lot Size Acres: 0.31
  • Road Frontage Type: Private
  • Road Surface Type: Gravel
  • MLS Status: Closed
  • Directions: From Main Street in Orono toward Old Town. Turn right on Wallace Lane. House is on the left. GPS friendly.
  • Above Grade Finished Sq Ft: 1710.0
  • Architectural Style: Colonial
  • Garage Yn: Yes
  • Year Built: 1966
  • Location Information:Leased Land: No
  • Location Information:HERS Certified: No
  • Property Information:Seasonal: No
  • Property Information:Lot Size Acres -: 0.31
  • Property Information:Total Baths: 2.0
  • Property Information:SqFt Finished Above Grade: 1710.0
  • Property Information:SqFt Finished Below Grade: 428.0
  • Property Information:Garage: Yes
  • Site:Level: Yes
  • Site:Well Landscaped: Yes
  • Location:Near Golf Course: Yes
  • Water Info:Water Frontage2: No
  • Water Info:Water View2: No
  • Construction:Wood Frame: Yes
  • Basement:Walkout Access: Yes
  • Roof:Shingle: Yes
  • Heat System:Baseboard: Yes
  • Appliances Included:Dishwasher: Yes
  • Appliances Included:Dryer: Yes
  • Appliances Included:Electric Range: Yes
  • Appliances Included:Washer: Yes
  • Heat Fuel:Oil: Yes
  • Cooling:None3: Yes
  • Floors:Carpet: Yes
  • Floors:Wood3: Yes
  • Electric:Circuit Breakers: Yes
  • Sewer:Public Sewer: Yes
  • Water:Public3: Yes
  • Driveway:Paved2: Yes
  • Basement Entry:Interior: Yes
  • Property Information:Garage Spaces: 2.0
  • Roads:Private: Yes
  • Exterior:Vinyl Siding: Yes
  • Dining Room:Dining Room: Yes
  • Living Room:Living Room: Yes
  • Floors:Laminate: Yes
  • Gas:No Gas: Yes
  • Mud Room:Mud Room: Yes
  • Style:Colonial: Yes
  • Property Information:Short Sale Continue to Show: No
  • Recreational Water:Nearby: Yes
  • Roads:GravelDirt: Yes
  • View:TreesWoods: Yes
  • Location:Near Country Club: Yes
  • View:Fields: Yes
  • Property Sub-Type Property Sub-Type: Single Family Residence
  • Special Listing Conditions Probate Listing: Yes
  • Special Features: None

Interior Features

  • Appliances: Washer, Refrigerator, Electric Range, Dryer, Dishwasher
  • Has Basement: Walk-Out Access, Exterior Entry, Bulkhead, Interior Entry
  • Full Bathrooms: 2
  • Total Bedrooms: 4
  • Below Grade Sq Ft: 428.0
  • Fireplace: No
  • Bedroom 2 Level: Second
  • Bedroom 3 Level: Second
  • Bedroom 4 Bedroom 4 Level: Second
  • Dining Room Dining Room Level: First
  • Kitchen Kitchen Level: First
  • Living Room Living Room Level: First
  • Bedroom 1:Bedroom 1 Level: Second
  • Location:Interior Lot: Yes

Exterior Features

  • Lot Features: Level, Landscaped, Interior Lot, Intown, Near Golf Course, Near Shopping, Near Turnpike/Interstate, Near Town
  • View: Fields, Trees/Woods
  • Waterfront: No
  • Construction Type: Vinyl Siding, Wood Frame
  • Roof: Shingle

Garage/Parking

  • Attached Garage: No
  • Garage Spaces: 2.0
  • Parking Features: 1 - 4 Spaces, Paved

Utilities

  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard
  • Heating Yn: Yes
  • Electric: Circuit Breakers
  • Sewer: Public Sewer
  • Utilities: Utilities On
  • Water Source: Public

Condo/Co-op/Association

  • Association: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 13503.6
  • Parcel #: 5wallacelaneorono04473
  • Zoning: Residential

Tax Info

  • Tax Annual Amount: 3849.41
  • Tax Book Number: 13903
  • Tax Lot: 003-028
  • Tax Map Number: 20
  • Tax Year: 2024

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 22, 2025
Closed on
Mar 10, 2025
Sold by
Wallace Melba H Est and Wallace
Bought by
Teichman Quest O and Mcglynn Alyssa M
Seller's Agent
Gwyneth Freeman
Better Homes & Gardens Real Estate/The Masiello Group
Buyer's Agent
Eric Bell
NextHome Experience
List Price
$395,000
Sold Price
$391,000
Premium/Discount to List
-$4,000
-1.01%
Views
24
Current Estimated Value
$384,119

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$6,881
Avg. Annual Appreciation
-4.74%
Original Mortgage
$323,000
Outstanding Balance
$322,733
Interest Rate
6.95%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$60,368
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Personal Reps Deed $390,000 None Available
Personal Reps Deed $390,000 None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $323,000 Purchase Money Mortgage
Closed $323,000 Purchase Money Mortgage
Previous Owner $105,000 Credit Line Revolving
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/10/2025 03/10/25 Sold $391,000 -1.0% $183 / Sq Ft
02/04/2025 02/04/25 Pending -- -- --
01/22/2025 01/22/25 For Sale $395,000 -- $185 / Sq Ft
Source: Maine Listings

Tax History Compared to Growth

Source: Public Records

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 $4,511 $211,300 $33,300 $178,000
2023 $4,495 $192,100 $30,300 $161,800
2022 $4,572 $192,100 $30,300 $161,800
2021 $4,562 $192,100 $30,300 $161,800
2020 $4,155 $147,900 $25,800 $122,100
2019 $3,912 $147,900 $25,800 $122,100
2018 $3,993 $147,900 $25,800 $122,100
2017 $3,845 $147,900 $25,800 $122,100
2016 $3,675 $147,900 $25,800 $122,100
2015 $3,609 $147,900 $25,800 $122,100
2014 $3,527 $147,900 $25,800 $122,100
2013 $3,431 $147,900 $25,800 $122,100
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Maine Listings

MLS Number: 1612972

Maine Listings

APN: ORON-020003-000000-000028