PORTLAND, Maine — The University of Southern Maine has listed five residential properties for sale in the neighborhood around its Portland campus, where it owns several former single-family homes currently employed as offices.
The asking prices for the five homes range from $549,000 to $639,000, adding up to just shy of $3 million.
According to city records, the five properties have a total tax assessment value of just under $2 million. However, the university system is exempt from paying property taxes. If sold, the houses would return to Portland’s tax rolls for the first time in decades.
The group of houses includes four buildings on Chamberlain Avenue and one on Deering Avenue. All were most recently managed by Avesta Housing for use as dwellings.
USM officials said the asking prices were set after housing appraisals and funds from the eventual sales will contribute to other building projects on campus, including the new Crewe Center for the Arts, currently under construction.
The most expensive house on the list is a 2,926-square-foot colonial at 15 Chamberlain Ave. It’s listed at $639,000 and sits on a 0.12-acre lot. The house sports four bedrooms, a fireplace, plus 1.5 bathrooms.
Next door, 19 Chamberlain Ave., is listed at $629,000. The 2,176-square-foot house, built in 1930, has a sunroom and one-car garage. According to Portland tax records, the University of Maine System purchased the house in 1998 for $126,000.
A 2,259-square-foot garrison-style house at 11 Chamberlain Ave. is listed at $599,000. It has two bedrooms and one bathroom. According to city tax records, the University of Maine System bought the property in 1995 for $100,000.
On the same side of the street, 5 Chamberlain Ave. is listed as having 2,111 square feet of living space, a one-car garage, four bedrooms and 1.5 bathrooms. The asking price is $579,000.
The fifth property for sale is 205 Deering Ave. The 2,072-square-foot house is listed at $549,000 and sits on a corner lot. It has three bedrooms, 1.5 bathrooms and a fireplace.
According to Realtor.com, the median selling price for homes in Portland during November was $549,000, which is down 1.9 percent since last year.
Caroline Allam Paras, who lives on nearby Granite Street, said she’s looking forward to having new residential neighbors in the area. Paras said she’s been pleased with all of USM’s recent building projects.
“Both my husband and I are alums, and I am also a current student,” she said. “Now all we need is a great new coffee shop and a small market.”
