NOT LISTED FOR SALE

2 Pond Ave Newport, RI 02840

Estimated Value: $1,810,185

4 Beds
2.5 Baths
5,224 Sq Ft
$347/Sq Ft Est. Value

Last Sold November 06, 2020

Last sale price $1,155,000 $221 Per Sq Ft

Est. 57% increase in value since last sale

Current estimated payment $10,029/month

48 Days on Market

Highlights

  • Wood Flooring
  • Corner Lot
  • Public Transportation
  • Attic
  • Bathtub with Shower
  • 1-minute walk to Equality Park

About This Home

As of November 2020

Landmark building in bustling downtown Broadway neighborhood, on the market for the first time in twenty years. Adjacent to Equality Park, this mixed use building contains Nitro Brew Bar as the first floor tenant - one of the busiest coffee shops in town and two loft style apartments. This is as turnkey as an investment property that you'll find in town. Long history of strong rentals in the two apartments above, zoned General Business offering additional opportunity. Meticulously maintained from the basement to the rooftop with updated siding, mini-splits installed for each unit, newer rubber roof and windows. This is a rare opportunity to own such an iconic piece of real estate in Newport's booming Broadway District.

Last Agent to Sell the Property

Jeff Brooks

Hogan Associates Christie's License #RES.0034174 Listed on: 08/19/2020

Last Buyer's Agent

Christopher Eyre

Hogan Associates Christie's License #RES.0040448

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,984

Year Built

  • Built in 1900

Lot Details

  • 2,337 Sq Ft Lot
  • Corner Lot

Home Design

  • Brick Exterior Construction
  • Shingle Siding
  • Concrete Perimeter Foundation
  • Masonry

Interior Spaces

  • 5,224 Sq Ft Home
  • 3-Story Property
  • Utility Room
  • Attic

Kitchen

  • Oven
  • Range with Range Hood
  • Microwave
  • Dishwasher
  • Disposal

Flooring

  • Wood
  • Ceramic Tile

Bedrooms and Bathrooms

  • 4 Bedrooms
  • Bathtub with Shower

Laundry

  • Laundry in unit
  • Washer

Unfinished Basement

  • Basement Fills Entire Space Under The House
  • Interior Basement Entry

Parking

  • 4 Parking Spaces
  • No Garage
  • Driveway

Location

  • Property near a hospital

Utilities

  • Central Air
  • Heating System Uses Gas
  • Heat Pump System
  • Baseboard Heating
  • Hot Water Heating System
  • 200+ Amp Service
  • 100 Amp Service
  • Gas Water Heater
  • Cable TV Available

Listing and Financial Details

  • Tax Lot 208
  • Assessor Parcel Number 2PONDAVNEWP

Community Details

Overview

  • 3 Units
  • Broadway Subdivision

Amenities

  • Shops
  • Public Transportation

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,984

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.05
  • Subdivision Name: Broadway
  • Above Grade Finished Sq Ft: 5224.0
  • Architectural Style: Other
  • Garage Yn: No
  • New Construction: No
  • Structure Type: Apartment
  • Year Built: 1900
  • Special Features: VirtualTour

Interior Features

  • Number Of Buildings: 1
  • Appliances: Dishwasher, Disposal, Gas Water Heater, Microwave, Oven, Range, Refrigerator, Range Hood, Washer
  • Has Basement: Full, Interior Entry, Unfinished
  • Basement YN: Yes
  • Full Bathrooms: 2
  • Half Bathrooms: 1
  • Total Bedrooms: 4
  • Fireplace Features: None
  • Fireplace: No
  • Flooring: Ceramic Tile, Hardwood
  • Interior Amenities: Attic, Tub Shower, Cable TV
  • Dining Room Type: Utility Room
  • Stories: 3
  • ResoLivingAreaSource: PublicRecords

Exterior Features

  • Lot Features: Corner Lot
  • Construction Type: Drywall, Brick, Masonry, Shingle Siding
  • Exterior Features: Paved Driveway
  • Foundation Details: Concrete Perimeter

Garage/Parking

  • Parking Features: No Garage
  • Total Parking Spaces: 4.0

Utilities

  • Laundry Features: In Unit
  • Cooling: Central Air, Heat Pump
  • Cooling Y N: Yes
  • Heating: Baseboard, Gas, Hot Water
  • Heating Yn: Yes
  • Electric: 100 Amp Service, 200+ Amp Service
  • Electricity On Property: Yes
  • Sewer: Connected, Public Sewer
  • Utilities: Sewer Connected, Water Connected
  • Water Source: Connected, Public

Condo/Co-op/Association

  • Community Features: Highway Access, Near Hospital, Near Schools, Public Transportation, Shopping, Sidewalks
  • Senior Community: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 2337.0
  • Parcel #: 2PONDAVNEWP
  • Zoning: GB
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Number Of Units Total: 3

Tax Info

  • Tax Annual Amount: 8984.0
  • Tax Lot: 208
  • Tax Year: 2019

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 19, 2020
Closed on
Nov 5, 2020
Sold by
Clancy John D
Bought by
Amann Zachary
Seller's Agent
Jeff Brooks
Hogan Associates Christie's
Buyer's Agent
Christopher Eyre
Hogan Associates Christie's
List Price
$1,159,000
Sold Price
$1,155,000
Premium/Discount to List
-$4,000
-0.35%
Current Estimated Value
$1,810,185

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$655,185
Avg. Annual Appreciation
9.32%
Original Mortgage
$866,250
Outstanding Balance
$778,671
Interest Rate
3.38%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$1,031,514

Purchase Details

Closed on
Jun 7, 2000
Sold by
Kalif James M and Kalif Patricia
Bought by
Clancy John D
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
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
Amann Zachary $1,155,000 None Available
Amann Zachary $1,155,000 None Available
Clancy John D $92,000 --
Clancy John D $92,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Amann Zachary $866,250
Closed Amann Zachary $866,250
Previous Owner Clancy John D $125,430
Previous Owner Clancy John D $40,000
Previous Owner Clancy John D $88,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/06/2020 11/06/20 Sold $1,155,000 -0.3% $221 / Sq Ft
10/07/2020 10/07/20 Pending -- -- --
08/19/2020 08/19/20 For Sale $1,159,000 -- $222 / 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 $5,967 $831,000 $221,800 $609,200
2024 -- $831,000 $221,800 $609,200
2023 $0 $760,600 $196,000 $564,600
2022 $0 $760,600 $196,000 $564,600
2021 $0 $760,600 $196,000 $564,600
2020 $0 $582,600 $327,600 $255,000
2019 $0 $582,600 $327,600 $255,000
2018 $0 $582,600 $327,600 $255,000
2017 $0 $530,500 $118,500 $412,000
2016 -- $530,500 $118,500 $412,000
2015 -- $530,500 $118,500 $412,000
2014 -- $490,100 $118,500 $371,600
Source: Public Records

Agents Affiliated with this Home

  • Jeff Brooks

    Seller's Agent in 2020

    Jeff Brooks

    Hogan Associates Christie's

    (401) 680-6588

    9 in this area

    126 Total Sales

    Jeff Brooks
    Section Image

  • C

    Buyer's Agent in 2020

    Christopher Eyre

    Hogan Associates Christie's

    Section Image
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Map

Source: State-Wide MLS

MLS Number: 1261878

State-Wide MLS

APN: NEWP-000014-000000-000208

Rhode Island Newport County Newport 02840

2 Pond Ave, Newport, RI

Not Listed for Sale

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