The historic coastal farmhouse once owned by the grandson of the founder of the Down East town of Milbridge is for sale for $895,000.

The four-bedroom, three-bathroom home was once owned by Deacon William Ellis Wallace, the grandson of Major Joseph Wallace, who is credited as one of the founders of Milbridge, according to Janie Snider, the volunteer curator of the Milbridge Historical Society of 11 years.

A fisherman and shipbuilder, Major Joseph Wallace settled in Milbridge in 1760 and created a 40-vessel fleet that helped transport materials and goods up the Narraguagus River, said John Bettis, an associate broker at Realty of Maine, the listing agent for the property.

In 1807, the French entered the bay and sank all 40 ships, leading Napoleon to pay $15 million in reparations to t

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