NOT LISTED FOR SALE

2 Lucas Ave Newport, RI 02840

Fifth Ward Neighborhood

Estimated Value: $1,028,000 - $1,224,000

6 Beds
3 Baths
2,054 Sq Ft
$535/Sq Ft Est. Value

Last Sold August 24, 2021

Last sale price $751,000 $366 Per Sq Ft

Est. 46% increase in value since last sale

Current estimated payment $6,440/month

36 Days on Market

Highlights

  • Marina
  • Deck
  • Tennis Courts
  • Golf Course Community
  • Wood Flooring
  • 4-minute walk to Spencer Park

About This Home

As of August 2021

Well maintained renovated legal two-family with separate utilities. Located in the desirable Fifth Ward and Yachting District close to restaurants, shopping and other amenities this property has a strong rental history with growth potential. The first floor unit has 2 bedrooms and 1 bathroom, while the second floor unit offers 4 bedrooms and 2 bathrooms. Low maintenance exterior, off-street parking and situated on the edge of the AE flood zone. This property is great for an owner-occupant or as an investment generating passive income.

Last Agent to Sell the Property

Paul Tobak

Hogan Associates Christie's License #REB.0007427 Listed on: 06/18/2021

Last Buyer's Agent

Shiv Patel

Edge Realty RI License #RES.0045756

Edge Realty RI

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,259

Year Built

  • Built in 1900

Lot Details

  • 5,268 Sq Ft Lot
  • Fenced

Home Design

  • Stone Foundation
  • Vinyl Siding
  • Plaster

Interior Spaces

  • 2,054 Sq Ft Home
  • 3-Story Property
  • Thermal Windows
  • Storage Room
  • Unfinished Basement
  • Basement Fills Entire Space Under The House

Kitchen

  • Oven
  • Range with Range Hood
  • Dishwasher

Flooring

  • Wood
  • Carpet
  • Laminate
  • Ceramic Tile
  • Vinyl

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 3 Full Bathrooms
  • Bathtub with Shower

Laundry

  • Laundry Room
  • Dryer
  • Washer

Parking

  • 1 Parking Space
  • No Garage
  • Driveway

Accessible Home Design

  • Low Pile Carpeting

Outdoor Features

  • Walking Distance to Water
  • Deck

Utilities

  • No Cooling
  • Zoned Heating
  • Heating System Uses Oil
  • Baseboard Heating
  • Hot Water Heating System
  • 100 Amp Service
  • Tankless Water Heater
  • Oil Water Heater
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for hot water
  • Tax Lot 54
  • Assessor Parcel Number 2LUCASAVNEWP

Community Details

Overview

  • 2 Units
  • 5Th Ward, Yachting District Subdivision

Recreation

  • Marina
  • Golf Course Community
  • Tennis Courts
  • Recreation Facilities

Additional Features

  • Shops
  • Operating Expense $10,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,259

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.1209
  • Subdivision Name: 5th Ward, Yachting District
  • Above Grade Finished Sq Ft: 2054.0
  • Garage Yn: No
  • New Construction: No
  • Year Built: 1900
  • Special Features: None

Interior Features

  • Number Of Buildings: 1
  • Appliances: Dryer, Dishwasher, Exhaust Fan, Oven, Oil Water Heater, Range, Refrigerator, Range Hood, Tankless Water Heater, Washer
  • Accessibility Features: Low Pile Carpet
  • Has Basement: Full, Unfinished
  • Basement YN: Yes
  • Full Bathrooms: 3
  • Total Bedrooms: 6
  • Fireplace Features: None
  • Fireplace: No
  • Flooring: Ceramic Tile, Laminate, Vinyl, Wood, Carpet
  • Interior Amenities: Tub Shower, Cable TV
  • Dining Room Type: Laundry, Storage Room
  • Stories: 3
  • Window Features: Thermal Windows
  • ResoLivingAreaSource: PublicRecords

Exterior Features

  • Fencing: Fenced
  • Waterfront Features: Walk to Water
  • Disclosures: Owner Has Flood Insurance
  • Construction Type: Drywall, Plaster, Vinyl Siding
  • Exterior Features: Deck, Paved Driveway
  • Foundation Details: Stone
  • Patio And Porch Features: Deck

Garage/Parking

  • Parking Features: No Garage
  • Total Parking Spaces: 1.0

Utilities

  • Laundry Features: Common Area, In Unit
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard, Electric, Hot Water, Oil, Other, Zoned
  • Heating Yn: Yes
  • Electric: 100 Amp Service, Circuit Breakers
  • Sewer: Connected, Public Sewer
  • Utilities: Sewer Connected, Water Connected
  • Water Source: Connected, Multiple Meters, Public

Condo/Co-op/Association

  • Community Features: Golf, Marina, Near Schools, Recreation Area, Shopping, Tennis Court(s), Sidewalks
  • Senior Community: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 5268.0
  • Parcel #: 2LUCASAVNEWP
  • Zoning: R-10
  • ResoLotSizeUnits: SquareFeet

Rental Info

  • Tenant Pays: Hot Water

Multi Family

  • Number Of Units Total: 2
  • Annual Operating Expense: 10000.0

Tax Info

  • Tax Annual Amount: 5259.0
  • Tax Lot: 54
  • Tax Year: 2022

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Nov 3, 2022
Sold by
Patel Amrut R
Bought by
Shiv Dear Llc
Current Estimated Value
$1,099,598

Purchase Details

Listed on
Jun 18, 2021
Closed on
Oct 8, 2021
Sold by
Shivay Llc
Bought by
Patel Amrut R
Seller's Agent
Paul Tobak
Hogan Associates Christie's
Buyer's Agent
Shiv Patel
Edge Realty RI
List Price
$749,000
Sold Price
$751,000
Premium/Discount to List
$2,000
0.27%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.56%
Original Mortgage
$600,000
Interest Rate
2.9%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Listed on
Jun 18, 2021
Closed on
Aug 20, 2021
Sold by
Dischert Dwayne W and Dischert Mary A
Bought by
Shivay Llc
Seller's Agent
Paul Tobak
Hogan Associates Christie's
Buyer's Agent
Shiv Patel
Edge Realty RI
List Price
$749,000
Sold Price
$751,000
Premium/Discount to List
$2,000
0.27%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$600,000
Interest Rate
2.9%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Nov 3, 2016
Sold by
Dischert Dwayne W
Bought by
Dischert Dwayne W and Dischert Mary A

Purchase Details

Closed on
Apr 18, 1994
Sold by
Aubin Michael C and Aubin Sally
Bought by
Dischert Dwayne W

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$105,875
Interest Rate
7.45%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Shiv Dear Llc -- None Available
Patel Amrut R -- None Available
Shivay Llc $751,000 None Available
Dischert Dwayne W -- --
Dischert Dwayne W $121,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Shivay Llc $600,000
Previous Owner Dischert Dwayne W $89,000
Previous Owner Dischert Dwayne W $145,000
Previous Owner Dischert Dwayne W $20,000
Previous Owner Dischert Dwayne W $105,875
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/24/2021 08/24/21 Sold $751,000 +0.3% $366 / Sq Ft
07/25/2021 07/25/21 Pending -- -- --
06/18/2021 06/18/21 For Sale $749,000 -- $365 / Sq Ft
Source: State-Wide MLS

Tax History Compared to Growth

Source: Public Records

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
2025 $7,601 $874,800 $430,700 $444,100
2024 $6,097 $874,800 $430,700 $444,100
2023 $5,592 $563,700 $281,600 $282,100
2022 $5,417 $563,700 $281,600 $282,100
2021 $5,259 $563,700 $281,600 $282,100
2020 $4,468 $434,600 $226,000 $208,600
2019 $4,468 $434,600 $226,000 $208,600
2018 $4,342 $434,600 $226,000 $208,600
2017 $3,864 $344,700 $161,700 $183,000
2016 $3,768 $344,700 $161,700 $183,000
2015 $3,678 $344,700 $161,700 $183,000
2014 $3,639 $301,700 $137,500 $164,200
Source: Public Records

Agents Affiliated with this Home

  • Paul Tobak

    Seller's Agent in 2021

    Paul Tobak

    Hogan Associates Christie's

    (401) 862-9962

    4 in this area

    30 Total Sales

    Paul Tobak
    Section Image

  • S

    Buyer's Agent in 2021

    Shiv Patel

    Edge Realty RI

    Section Image
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Map

Source: State-Wide MLS

MLS Number: 1285574

State-Wide MLS

APN: NEWP-000039-000000-000054

Rhode Island Newport County Newport 02840 Fifth Ward

2 Lucas Ave, Newport, RI

This home is located at 2 Lucas Ave, Newport, RI 02840 since 18 June 2021 and is currently estimated at $1,099,598, approximately $535 per square foot. This property was built in 1900. 2 Lucas Ave is a home located in Newport County with nearby schools including Rogers High School, St Michael's Country Day School, and St George's School.

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