18 Rhode Island Ave Newport, RI 02840
Kay-Catherine Neighborhood
8
Beds
4.5
Baths
4,871
Sq Ft
10,568
Sq Ft Lot
Highlights
- Spa
- Marble Flooring
- Walking Distance to Water
- 0.24 Acre Lot
- Balcony
- 4-minute walk to Congdon Parks
About This Home
As of May 2024Welcome to this gracious and expansive Victorian home spanning over 4800 sq ft, ideally located within walking distance to town. Built in the 1880s, this property exudes charm with its wraparound porch and original details throughout. Currently configured as a three-family dwelling, this property offers versatility as it can easily be converted back to a single-family home. Unit One is generously sized with two floors of living and features a living room, dining room, den, well-appointed kitchen, and 4 bedrooms and 2 baths. The second unit is a bright and spacious studio with a large modern bathroom and an updated kitchen that opens to a private deck. The third unit boasts three bedrooms, a living room, dining area, updated kitchen, and bathroom. Additionally, there's walk-up access to a rooftop deck offering stunning views of the Newport Bridge. Gorgeous hardwood floors are showcased throughout the home. All utilities have been updated, each unit is separately metered and includes its own laundry facilities. Outside, the beautifully landscaped yard features a paved driveway and a spacious fenced lot with parking for up to 8 cars. This property is a rare find and offers endless possibilities for both investors and homeowners alike.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,642
Year Built
- Built in 1880
Lot Details
- 10,568 Sq Ft Lot
- Fenced
- Paved or Partially Paved Lot
Home Design
- Stone Foundation
- Wood Siding
- Concrete Perimeter Foundation
- Plaster
Interior Spaces
- 4,871 Sq Ft Home
- 4-Story Property
- Thermal Windows
- Storage Room
Kitchen
- Oven
- Range
- Microwave
- Dishwasher
- Disposal
Flooring
- Wood
- Marble
Bedrooms and Bathrooms
- 8 Bedrooms
- Bathtub with Shower
Laundry
- Laundry in unit
- Dryer
- Washer
Unfinished Basement
- Basement Fills Entire Space Under The House
- Interior and Exterior Basement Entry
Home Security
- Security System Owned
- Storm Doors
Parking
- 8 Parking Spaces
- No Garage
- Driveway
Outdoor Features
- Spa
- Walking Distance to Water
- Balcony
- Patio
- Porch
Location
- Property near a hospital
Utilities
- Window Unit Cooling System
- Heating System Uses Gas
- Heating System Uses Steam
- Power Generator
- Gas Water Heater
Listing and Financial Details
- Tenant pays for hot water
- Tax Lot 089
- Assessor Parcel Number 18RHODEISLANDAVNEWP
Community Details
Overview
- 3 Units
- Kay/Broadway Subdivision
Amenities
- Shops
- Restaurant
- Public Transportation
Building Details
- Operating Expense $5,600
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Apr 4, 2024
Closed on
May 31, 2024
Sold by
Mcfate Montgomery
Bought by
Nothing Like Newport Llc
Seller's Agent
Joe Fitzpatrick
RE/MAX Results
Buyer's Agent
Arthur Chapman
William Raveis Inspire
List Price
$2,000,000
Sold Price
$2,125,000
Premium/Discount to List
$125,000
6.25%
Total Days on Market
48
Views
28
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$25,277
Avg. Annual Appreciation
1.80%
Original Mortgage
$1,110,000
Outstanding Balance
$1,100,838
Interest Rate
7.1%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$1,062,330
Similar Homes in Newport, RI
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $2,125,000 | None Available | |
| Warranty Deed | $2,125,000 | None Available |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $1,110,000 | Purchase Money Mortgage | |
| Closed | $1,110,000 | Purchase Money Mortgage | |
| Previous Owner | $1,012,500 | Stand Alone Refi Refinance Of Original Loan | |
| Previous Owner | $139,000 | Stand Alone Refi Refinance Of Original Loan | |
| Previous Owner | $738,750 | Stand Alone Refi Refinance Of Original Loan | |
| Previous Owner | $200,000 | Stand Alone Refi Refinance Of Original Loan | |
| Previous Owner | $80,000 | Unknown | |
| Previous Owner | $543,750 | Stand Alone Refi Refinance Of Original Loan | |
| Previous Owner | $491,250 | No Value Available |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/31/2024 05/31/24 | Sold | $2,125,000 | +6.3% | $436 / Sq Ft |
| 05/22/2024 05/22/24 | Pending | -- | -- | -- |
| 04/04/2024 04/04/24 | For Sale | $2,000,000 | +205.3% | $411 / Sq Ft |
| 03/04/2016 03/04/16 | Sold | $655,000 | -16.6% | $135 / Sq Ft |
| 02/03/2016 02/03/16 | Pending | -- | -- | -- |
| 08/09/2015 08/09/15 | For Sale | $785,000 | -- | $161 / Sq Ft |
Source: State-Wide MLS
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $9,565 | $1,372,300 | $276,300 | $1,096,000 |
| 2023 | $8,750 | $882,100 | $195,300 | $686,800 |
| 2022 | $8,477 | $882,100 | $195,300 | $686,800 |
| 2021 | $8,230 | $882,100 | $195,300 | $686,800 |
| 2020 | $6,650 | $646,900 | $157,400 | $489,500 |
| 2019 | $6,650 | $646,900 | $157,400 | $489,500 |
| 2018 | $6,463 | $646,900 | $157,400 | $489,500 |
| 2017 | $7,186 | $641,000 | $122,300 | $518,700 |
| 2016 | $6,790 | $621,200 | $122,300 | $498,900 |
| 2015 | $6,628 | $621,200 | $122,300 | $498,900 |
| 2014 | $6,146 | $509,600 | $122,300 | $387,300 |
Source: Public Records
Agents Affiliated with this Home
-
Joe Fitzpatrick
Seller's Agent in 2024
Joe Fitzpatrick
RE/MAX Results
(401) 835-2045
16 in this area
680 Total Sales
-
Arthur Chapman
Buyer's Agent in 2024
Arthur Chapman
William Raveis Inspire
(401) 640-0807
4 in this area
61 Total Sales
-
Gladys Barbosa
Seller's Agent in 2016
Gladys Barbosa
Edge Realty RI
(401) 855-1401
41 Total Sales
Map
Source: State-Wide MLS
MLS Number: 1355846
APN: NEWP-000011-000000-000089
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