NOT LISTED FOR SALE

32 Middleton Ave Newport, RI 02840

Memorial Boulevard Neighborhood

Estimated Value: $732,540 - $1,016,000

6 Beds
2 Baths
3,295 Sq Ft
$281/Sq Ft Est. Value

Last Sold February 03, 2020

Last sale price $425,000 $129 Per Sq Ft

Est. 118% increase in value since last sale

Current estimated payment $5,392/month

62 Days on Market

Highlights

  • Tennis Courts
  • Bathtub with Shower
  • Public Transportation
  • Walking Distance to Water
  • Storage Room
  • 3-minute walk to Freebody Park

About This Home

As of February 2020

Calling all investors, opportunity lies in wait! Centrally located in Newport, RI, this duplex currently earns $2,400/month with rents that are FAR BELOW market value! Loaded with potential (and parking) there are a myriad of uses for this property. Surely, this one won't be long for the open market. Rent rolls and expense information available upon request.

Last Agent to Sell the Property

Kevin Castner

RE/MAX Results License #RES.0035348 Listed on: 11/02/2019

RE/MAX Results

Co-Listed By

Madeline Andrews

RE/MAX Results License #RES.0042240

Last Buyer's Agent

Alex Fraioli

Edge Realty RI License #RES.0040250

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,482

Year Built

  • Built in 1987

Lot Details

  • 5,663

Home Design

  • Vinyl Siding

Interior Spaces

  • 3,295 Sq Ft Home
  • 2-Story Property
  • Storage Room
  • Laundry in unit
  • Utility Room
  • Carpet

Kitchen

  • Oven
  • Range

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 2 Full Bathrooms
  • Bathtub with Shower

Unfinished Basement

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

Parking

  • 4 Parking Spaces
  • No Garage

Utilities

  • No Cooling
  • Baseboard Heating
  • Underground Utilities
  • 100 Amp Service
  • Electric Water Heater

Additional Features

  • Walking Distance to Water
  • 5,663 Sq Ft Lot

Listing and Financial Details

  • Tenant pays for hot water
  • Tax Lot 112
  • Assessor Parcel Number 32MIDDLETONAVNEWP

Community Details

Overview

  • 2 Units
  • Memorial Subdivision

Amenities

  • Shops
  • Public Transportation

Recreation

  • Tennis Courts

Building Details

  • Operating Expense $4,305

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,482

Year Built

Built in 1987

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.13
  • Co List Office Mls Id: KELW02
  • Co List Office Phone: 401-845-9200
  • Subdivision Name: Memorial
  • Above Grade Finished Sq Ft: 3295.0
  • Garage Yn: No
  • New Construction: No
  • Year Built: 1987
  • Special Features: None

Interior Features

  • Number Of Buildings: 1
  • Appliances: Electric Water Heater, Oven, Range, Refrigerator, Water Heater
  • Has Basement: Full, Interior Entry, Unfinished
  • Basement YN: Yes
  • Full Bathrooms: 2
  • Total Bedrooms: 6
  • Fireplace Features: None
  • Fireplace: No
  • Flooring: Carpet, Other
  • Interior Amenities: Bathtub, Tub Shower
  • Dining Room Type: Storage Room, Utility Room
  • Stories: 2
  • ResoLivingAreaSource: PublicRecords

Exterior Features

  • Waterfront Features: Walk to Water
  • Construction Type: Vinyl Siding
  • Foundation Details: See Remarks

Garage/Parking

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

Utilities

  • Laundry Features: In Unit
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard, Electric
  • Heating Yn: Yes
  • Electric: 100 Amp Service, Circuit Breakers
  • Electricity On Property: Yes
  • Sewer: Connected, Public Sewer
  • Utilities: Sewer Connected, Underground Utilities, Water Connected
  • Water Source: Connected, Public

Condo/Co-op/Association

  • Community Features: Public Transportation, Shopping, Tennis Court(s), Sidewalks
  • Senior Community: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 5663.0
  • Parcel #: 32MIDDLETONAVNEWP
  • Zoning: R20
  • ResoLotSizeUnits: SquareFeet

Rental Info

  • Tenant Pays: Hot Water

Multi Family

  • Number Of Units Total: 2
  • Annual Operating Expense: 4305.0

Tax Info

  • Tax Annual Amount: 4482.0
  • Tax Lot: 112
  • Tax Year: 2018

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 2, 2019
Closed on
Jan 30, 2020
Sold by
Hollenbaugh Shaun D and Hollenbaugh Maryhelen A
Bought by
Fraioli Alexander
Seller's Agent
Kevin Castner
RE/MAX Results
Buyer's Agent
Alex Fraioli
Edge Realty RI
List Price
$425,000
Sold Price
$425,000
Current Estimated Value
$925,885

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$500,885
Avg. Annual Appreciation
14.37%
Original Mortgage
$361,250
Outstanding Balance
$320,468
Interest Rate
3.7%
Mortgage Type
New Conventional
Estimated Equity
$605,417

Purchase Details

Closed on
Apr 22, 2014
Sold by
Hollenbaugh Shaun D and Hollenbaugh Maryhelen A
Bought by
Hollenbaugh Shaun D and Hollenbaugh Maryhelen A

Purchase Details

Closed on
May 21, 2009
Sold by
Island Assoc Inc
Bought by
Hollenbaugh Shawn and Woods Roger

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$243,000
Interest Rate
4.93%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
Fraioli Alexander $425,000 None Available
Hollenbaugh Shaun D -- --
Hollenbaugh Shawn $325,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Fraioli Alexander $361,250
Previous Owner Hollenbaugh Shawn $243,000
Previous Owner Hollenbaugh Shawn $153,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/03/2020 02/03/20 Sold $425,000 0.0% $129 / Sq Ft
01/04/2020 01/04/20 Pending -- -- --
11/02/2019 11/02/19 For Sale $425,000 -- $129 / 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 $6,435 $740,600 $443,100 $297,500
2024 $6,088 $740,600 $443,100 $297,500
2023 $4,839 $487,800 $289,700 $198,100
2022 $4,688 $487,800 $289,700 $198,100
2021 $4,551 $487,800 $289,700 $198,100
2020 $4,612 $448,600 $229,900 $218,700
2019 $4,612 $448,600 $229,900 $218,700
2018 $4,482 $448,600 $229,900 $218,700
2017 $4,083 $364,200 $164,500 $199,700
2016 $3,981 $364,200 $164,500 $199,700
2015 $3,886 $364,200 $164,500 $199,700
2014 $4,002 $331,800 $139,900 $191,900
Source: Public Records

Agents Affiliated with this Home

  • K

    Seller's Agent in 2020

    Kevin Castner

    RE/MAX Results

    (401) 787-5194

    19 Total Sales

    Kevin Castner
    Section Image
  • Madeline Andrews

    Seller Co-Listing Agent in 2020

    Madeline Andrews

    RE/MAX Results

    (401) 258-3225

    11 Total Sales

    Madeline Andrews
    Section Image
  • Alex Fraioli

    Buyer's Agent in 2020

    Alex Fraioli

    Edge Realty RI

    (401) 255-9109

    2 in this area

    134 Total Sales

    Alex Fraioli
    Section Image
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Map

Source: State-Wide MLS

MLS Number: 1240440

State-Wide MLS

APN: NEWP-000029-000000-000112

Rhode Island Newport County Newport 02840 Memorial Boulevard

32 Middleton Ave, Newport, RI

Not Listed for Sale

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