Attention contractors and investors--this two-unit property offers a prime opportunity to bring new life to a solid structure. While the home has experienced a period of neglect and requires significant renovation, the underlying bones are worth the effort. The front unit features a fireplace, adding character and future appeal once restored. Ideally located with convenient access to shopping, major roadways, and just minutes to downtown Portland, as well as UNE on Stevens Ave and USM on Forest Ave, this property sits in a highly desirable and accessible area. Positioned adjacent to railroad tracks, the setting may appeal to buyers seeking value and upside potential. Property is being sold as-is and is subject to short sale approval. Seller has no funds available for repairs or to contribute toward buyer closing costs or other concessions. Bring your vision and unlock the possibilities--this is a project with strong investment potential in a sought-after location.
Deering Highlands, located between Back Cove and Deering Oaks Park, is a residential and civic Portland neighborhood with early-20th-century architecture and leafy, walkable streets. The neighborhood’s character concentrates along Forest Avenue near Woodford Street, where corner markets, coffee counters, and small storefronts keep the sidewalks active. Brick apartment houses and classic New England homes sit beside institutional landmarks, giving the blocks a composed, urban feel. The University of Southern Maine’s Portland campus adds lecture halls, galleries, and steady foot traffic. Deering Oaks Park and the Back Cove Trail frame daily routines with water views and open lawns. Nearby, the Woodfords Corner corridor ties errands and dining into a compact grid.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Living
Interior features
Unfurnished
Air radon mitigation system
One fireplace
Bedrooms
Two 2-bedroom units (both on the first level)
Bathrooms
Two full bathrooms
Two half bathrooms
Kitchen
No refrigerators included in either unit
Laundry & utility
No dedicated water heaters in either unit
Unit 2 has a dedicated electric meter; Unit 1 does not
Flooring
Carpet
Ceramic tile
Linoleum
Heating & cooling
Direct vent heater
Radiant heating
Exterior features
Sidewalks
Suburban setting
Near public transit
Near railroad
Paved road
Home design
Multifamily property with 2 total units
Built in 1883
Parking
Paved parking with 1–4 spaces
Construction
Wood frame construction with shingle siding
Brick/mortar foundation
Shingle roof
Utilities
Public water
Public sewer
Electricity and solar
View estimated energy costs and solar savings for this home
To provide appropriate areas of the city for medium-density residential development characterized by singlefamily, two-family and low-intensity multifamily dwellings on individual lots; to ensure the stability of established medium-density neighborhoods by controlling residential conversions; and to provide for planned residential unit development on substantially-sized parcels.
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
78
58
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
This home receives average direct sun exposure in the zip code. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.9 hrs
5.6 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 33 Prospect St
$395,567
$3,433 under list price of $399K
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $390K to $904K.