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230 Water Street, 
Hallowell, ME 04347

$400,000

—

Bed

3

Baths

2,240

Sq Ft

Multi-Family

Active Under Contract

Real Broker, 207-212-1523

Last updated:

November 7, 2026, 10:23 AM

MLS#

1684319

Source:

ME MREIS

About This Home

230 Water Street

Live on the Kennebec River, steps from everything downtown Hallowell has to offer. All this with rental income to help pay the mortgage. This two-unit property combines water frontage, in-town convenience, and strong rental income. Both units have been remodeled, the first floor was completely redone in 2024 and the exterior has just been painted. Each unit has new appliances, new flooring, new kitchen cabinets and new electrical. The one-bedroom, first floor, unit features hardwood flooring and a private deck overlooking the river, and it can come fully furnished. The second unit is a two-story, four-bedroom, two-bath with hardwood floors on the first floor, beautifully remodeled bathrooms, and a washer and dryer included. A boat launch nearby gives you easy river access, and downtown shops and restaurants are within walking distance from your front door. The property is located in the Downtown district, which allows for business use and opens the door to live-work arrangements, office space, or a storefront (confirm exact use with CEO). Whether you're an investor looking for steady and profitable rental income or an owner-occupant who wants to live on the river and let the other unit help pay the mortgage, this is a rare find in downtown Hallowell. Also listed as single family MLS #1684605

Home Facts

Multi-Family

3 Baths

Built in 1900

Price Summary

400,000

$178 per Sq. Ft.

MLS #:

1684319

Last Updated:

November 7, 2026, 10:23 AM

Rooms & Interior

Bathrooms

Total Bathrooms:

3

Full Bathrooms:

3

Structure

Structure

Architectural Style:

Federal

Building Area:

2,240 Sq. Ft.

Year Built:

1900

Lot

Lot Size (Sq. Ft):

4,356

Finances & Disclosures

Finances

Price:

$400,000

Price per Sq. Ft:

$178 per Sq. Ft.

MLS Logo
MREIS Multiple Listing Service™ systemListing data is derived in whole or in part from the Maine IDX & is for consumers' personal, noncommercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. © 2026 Maine Real Estate Information System, Inc. All Rights Reserved

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.