At first glance, a six-bedroom property in Maine listed for just $275,000 seems like an unbelievable bargain, priced at roughly half the cost of a typical American home. However, this unique listing is a historic former schoolhouse that presents a significant renovation project for any potential buyer.
A Property Steeped in History
The 6,244 square foot building, constructed in 1853, originally served as both the elementary and high school for the coastal town of Stockton Springs, located about 55 miles northeast of Augusta. After a newer school was built, it was converted into office space and later, in 2002, transformed into a summer home by a family. The property retains charming original features like a bell tower and an old principal's office, but as listing agent Keirsten Wyman of RE/MAX Jaret & Cohn told the Bangor Daily News, "It was never built to be a home."
The Scale of the Renovation Challenge
While parts of the building have been updated into livable space with five bathrooms, modern bedrooms, and clean amenities, much work remains. The agent notes that one of the most substantial jobs would be overhauling the septic system to properly serve a residential property. Interior photos reveal a mix of desirable hardwood floors and large, light-filled rooms alongside areas with scratched red flooring, walls needing paint, and blue-painted floors chipping away in large sections.
The scale of the needed work is likely why the home has been on Zillow for 116 days, far longer than the US average of 47 to 62 days. To attract interest, the price was cut by $95,000 in mid-October. Wyman acknowledges the challenges but emphasises the potential: "It has its challenges, but the potential is amazing if someone has the heart. It could really be something special."
Location and Potential
The building sits on a half-acre lot, offering space for gardens and children to play. It is also a ten-minute drive from Fort Point State Park, with the amenities of downtown Bangor less than an hour away. Crucially, the property has been winterised, allowing for year-round living despite Maine's cold winters.
The asking price is a clear discount, being nearly $100,000 cheaper than the average $360,000 home in Stockton Springs and almost half the national average sale price of $512,800. For a buyer with vision, budget, and tolerance for a major project, this historic schoolhouse represents a unique chance to create a distinctive home.
