$889,000
About this home
Welcome to this exceptional opportunity to own a highly desirable 2-family multi-unit property located in beautiful Newport, Rhode Island. This well-maintained gem is perfectly situated within walking distance of not only the Newport Navy base, but also Newport Hospital, making it an ideal investment opportunity. The location is also just minutes away from the vibrant downtown area, historic landmarks, world-class dining, not to mention breathtaking coastal views. The property offers two units, which both contain two bedrooms, one full bathroom and 972 square feet of space. Providing comfortable, versatile living space for new owners to enjoy. The upstairs unit features a lovely balcony area perfect to enjoy personalized outdoor space. Both units conveniently offer onsite laundry, a shared yard perfect for relaxing and additional storage space in the shared basement. The units offer convenient gas heat, keeping utility costs down for any future tenants. Currently both units are Month to Month. The current rental rates are below market value so there certainly is room for growth with the rental revenue. You will find this property has been very well cared for which you and your tenants will appreciate. Parking in Newport can certainly be a challenge, but not here. With space for up to four vehicles for your tenants. Don't miss out on this fantastic opportunity to own an investment property in Newport, RI.
Affordability — calculate your monthly payment
Adjust your budget to see what's left after housing, utilities and transportation. Numbers below assume a 5% down, 30YrJumbo at 4% APR.
- Real estate (PITI + HOA + PMI)
- $5,666
- Utilities
- $2,037
- Transportation
- $129
- Other (entertainment)
- $127
Quick facts
At a glance
Home features
Lot features
Corner Lot, Paved Driveway
Neighborhood — 02840
| Metric | This ZIP | County | USA |
|---|---|---|---|
| Population | 25,678 | 1,095,423 | 299,088,112 |
| Population Change Since1990 | -8.00% | 9.00% | 20.00% |
| Population Density | 3,344 | 994 | — |
| Male | 12,039 | 529,266 | 147,432,321 |
| Female | 13,562 | 566,157 | 151,655,844 |
| Never Married | 7,807 | 266,404 | 63,775,926 |
| Married | 8,167 | 435,678 | 123,120,365 |
| Separated | 1,473 | 43,642 | 12,639,686 |
| Widowed | 1,699 | 66,668 | 15,467,586 |
| Divorced | 2,691 | 83,843 | 23,075,029 |
| Number Of House Hold | 10,531 | 410,399 | 111,826,380 |
| Average House Hold Size | 2.27 | 2.56 | 2.60 |
| Medial Age | 38.52 | 37.27 | 35.46 |
| Median House Hold Income | $48,216 | $47,553 | $48,276 |
| Average House Hold Income | $65,270 | $61,609 | $63,629 |
| P C I | $28,066 | $23,965 | $24,529 |
| M D I | $41,065 | $40,634 | $41,133 |
| A T H E | $52,096 | $49,940 | $50,898 |
| S T R | 7.00% | 7.00% | — |
| W C J | 80.40% | 78.02% | 77.74% |
Data via Certihomes neighborhood index. Comparisons across this ZIP, county and the United States.
Map & walkability
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Listing information last refreshed 2/14/2024. Provided courtesy of the listing office via RI & State Wide MLS. Information deemed reliable but not guaranteed.