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About this home
103 Read Street presents a substantial 1.41 acre offering in Portland, combining an existing three unit property with three additional vacant lots and compelling long term potential. The existing multi-family includes three residential units, while the additional acreage creates an opportunity to explore a range of future uses or development possibilities. A conceptual development plan explores the potential of an 8-16 unit Cottage Court community, subject to municipal review and approvals. The location offers convenient access to Back Cove, Baxter Boulevard, Payson Park, USM, downtown Portland, public transportation, and major commuter routes. With significant acreage in an established Portland neighborhood, 103 Read Street offers an intriguing opportunity for an investor, developer, or buyer looking to take a longer term approach to the property. Property is being sold as-is.
Back Cove, located between the Back Cove shoreline and I-295, is a residential and waterfront Portland neighborhood with a 3.6-mile trail loop and broad bay views. The neighborhood’s character concentrates along Forest Avenue near Woodford Street, where corner markets, coffee counters, and long-running local eateries set a steady, everyday rhythm. Triple Espresso anchors the caffeine routine, while Woodford Food & Beverage and The Great Lost Bear serve as familiar gathering rooms. Housing leans toward early-20th-century capes and colonials, with pockets of mid-century apartments. The Back Cove Trail frames morning runs, stroller walks, and sunset laps. Tree-lined blocks meet working streets, giving the area a practical, lived-in feel.
Provided by Walk Score and Local Logic
Offer insights
103 Read St · $1,500,000
$1.53M and above
75% chance or better to win
Why $1.53M+ is a strong offer
DAYS ON MARKET
10 days
The average home goes pending in 36 days.
SALE-TO-LIST
97.1%
Most homes are selling 3% below list price.
About offer insights
Property details
Interior
Exterior
Finance
Interior features
Cable available
Internet access available
Tile and wood flooring
Full unfinished basement with interior entry
Bedrooms
Three units total: two 1-bedroom units (both on the second level) and one 2-bedroom unit (on the first level)
Bathrooms
Three full bathrooms (one in each unit)
Kitchen
All units include a refrigerator
Laundry & utility
Units do not have dedicated water heaters or dedicated gas/electric meters
Flooring
Tile flooring
Wood flooring
Heating & cooling
Heating provided (Direct vent furnace and forced air)
Circuit breaker electrical system
Exterior features
Deck
Porch
Level, partly wooded lot
Near public beach, shopping, town amenities, turnpike/interstate and public transit
Sidewalks
Paved road access
Home design
Multi-level building
Built in 1860
RN1 zoning
Parking
Detached 1-car garage
Paved on-site parking with 5–10 spaces
On-street parking available
Construction
Wood frame construction with clapboard and vinyl siding
Metal and shingle roof
Utilities
Public water
Public sewer
Tankless water heater
Other
Property is a 3-unit multi-family building (two 1-bed units, one 2-bed unit)
Electricity and solar
View estimated energy costs and solar savings for this home
103 Read Street presents a substantial 1.41 acre offering in Portland, combining an existing three unit property with three additional vacant lots and compelling long term potential. The existing multi-family includes three residential units, while the additional acreage creates an opportunity to explore a range of future uses or development possibilities. A conceptual development plan explores the potential of an 8-16 unit Cottage Court community, subject to municipal review and approvals. The location offers convenient access to Back Cove, Baxter Boulevard, Payson Park, USM, downtown Portland, public transportation, and major commuter routes. With significant acreage in an established Portland neighborhood, 103 Read Street offers an intriguing opportunity for an investor, developer, or buyer looking to take a longer term approach to the property. Property is being sold as-is.
MREIS #1677065
Aug 20, 2026
Listed
$1,500,000
$378/sq ft
MREIS #1504027
Aug 6, 2021
Listed
$2,200,000
$554/sq ft
Year
Property tax
Land + Additions
Assessment*
2024
$8,649 (+4.2%)
$73,300 + $502,900
$576,200
2023
$8,303 (+5.9%)
$73,300 + $502,900
$576,200
2022
$7,842 (+4.8%)
$73,300 + $502,900
$576,200
2021
$7,485 (+27.3%)
$73,300 + $502,900
$576,200
2020
$5,879
$75,800 + $176,400
$252,200
2019
$5,879 (+3.7%)
$75,800 + $176,400
$252,200
2018
$5,669 (+3.8%)
$75,800 + $176,400
$252,200
2017
$5,460 (+2.6%)
$75,800 + $176,400
$252,200
2016
$5,324 (+2.3%)
$75,800 + $176,400
$252,200
2015
$5,203 (+3.2%)
$75,800 + $176,400
$252,200
2014
$5,044
$75,800 + $176,400
$252,200
Public record
Beds
4
Baths
3
Stories
2
Lot width
—
Lot depth
—
Lot size
0.34 Acres
Year renovated
—
Finished Sq. Ft.
3,971
Unfinished Sq. Ft.
—
Total Sq. Ft.
3,971
Year built
1860
Style
Multi-Family (2-4 Unit)
County
Cumberland County
APN
120782
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 27, 2026.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
4/10 Heat Factor
7 days above 88° expected this year, 17 days in 30 years
6/10 Wind Factor
60% chance of strong winds in next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 1 days in 30 years
Provided by First Street
Historical weather
Portland, ME • 04103
Average low and high temperatures (°F)
30
16
33
15
44
28
53
37
64
48
76
57
80
64
77
60
72
54
62
43
49
33
35
20
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
91/ 100
Exceptional sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
10.1 hrs
5.9 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 103 Read St
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $890,000 and $1,335,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $890K to $1.3M.