M
Seller's Agent in 2025
Marisa Ferris
Residential Properties Ltd.
(401) 640-0170
5 in this area
26 Total Sales
40 Draper Ave Middletown, RI 02842
Newport East Neighborhood
2
Beds
1
Bath
808
Sq Ft
$765
Price per Sq Ft
Highlights
- No HOA
- 2 Car Garage
- 1-Story Property
- Window Unit Cooling System
- Heating System Uses Steam
About This Home
As of July 2025Available immediately for rent! Newly remodeled beach home on a large corner lot of almost 1/3 of an acre, in a great location!. It is an 8-10 minutes drive to Naval base (3 miles), just minutes to walk to all three main beaches with a short, secret cut through to Second and Third Beaches, easy walks to nature trails/restaurants/shops/cafes/galleries and a variety of outdoor sports & activities. Update include new kitchen w/granite counters and soft close cabinets & drawers, new/updated appliances, new windows, newly installed window A/C throughout, updated bath with new vanity and fixtures, new washer/dryer, and fresh paint throughout. It sits on a large corner lot with an enormous yard and long driveway, a full sized 2 car garage (one half is a work shed with shelving and electric access for tools, etc.), and a basement for extra storage. Your beloved pets are welcome here with approval and will love the large yard where there is also a fully fenced dog run off the mud room door.
This home is warm, light filled, airy, and well laid out. Experience the best of coastal living while still being able to easily reach the Navy base/War College and an easy commute to Salve Regina University and Newport Hospital. Available for a yearly lease, tenant is responsible for all utilities. Also available for July and/or August 2025 for $7000/m including utilities (unfurnished).
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $5,242
Year Built
- Built in 1917
Parking
- 2 Car Garage
Interior Spaces
- 808 Sq Ft Home
- 1-Story Property
Bedrooms and Bathrooms
- 2 Bedrooms
- 1 Full Bathroom
Utilities
- Window Unit Cooling System
- Heating System Uses Oil
- Heating System Uses Steam
Community Details
- No Home Owners Association
Listing and Financial Details
- Property Available on 6/15/25
- 12 Month Lease Term
- Assessor Parcel Number 40DRAPERAVMDLT
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Feb 1, 2025
Closed on
Apr 24, 2025
Sold by
Sisson
Bought by
Gernat Edward and Zarif-Gernat Najia
Seller's Agent
Marisa Ferris
Residential Properties Ltd.
Buyer's Agent
Joe Fitzpatrick
RE/MAX Results
List Price
$640,000
Sold Price
$617,500
Premium/Discount to List
-$22,500
-3.52%
Views
63
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
$3,974
Avg. Annual Appreciation
0.22%
Original Mortgage
$494,000
Outstanding Balance
$493,566
Interest Rate
6.65%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$124,305
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 | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Gernat Edward | $617,500 | None Available | |
| Gernat Edward | $617,500 | None Available |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Gernat Edward | $494,000 | |
| Closed | Gernat Edward | $494,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/03/2025 07/03/25 | Rented | $3,200 | 0.0% | -- |
| 07/01/2025 07/01/25 | Under Contract | -- | -- | -- |
| 06/12/2025 06/12/25 | For Rent | $3,200 | 0.0% | -- |
| 04/24/2025 04/24/25 | Sold | $617,500 | -1.2% | $776 / Sq Ft |
| 03/26/2025 03/26/25 | Price Changed | $625,000 | -2.3% | $785 / Sq Ft |
| 02/01/2025 02/01/25 | For Sale | $640,000 | -- | $804 / 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 | $5,242 | $465,500 | $354,700 | $110,800 |
| 2023 | $4,346 | $345,200 | $258,700 | $86,500 |
| 2022 | $4,149 | $345,200 | $258,700 | $86,500 |
| 2021 | $4,149 | $345,200 | $258,700 | $86,500 |
| 2020 | $3,928 | $285,500 | $199,000 | $86,500 |
| 2018 | $3,926 | $285,500 | $199,000 | $86,500 |
| 2016 | $3,995 | $259,100 | $180,900 | $78,200 |
| 2015 | $3,897 | $259,100 | $180,900 | $78,200 |
| 2014 | $3,656 | $227,500 | $149,500 | $78,000 |
| 2013 | $3,574 | $227,500 | $149,500 | $78,000 |
Source: Public Records
Agents Affiliated with this Home
-
-
Landlord's Agent in 2025
Joe Fitzpatrick
RE/MAX Results
(401) 835-2045
46 in this area
700 Total Sales
-
Landlord's Co-Listing Agent in 2025
Devin Sheehan
RE/MAX Results
(401) 297-6231
7 Total Sales
Map
Source: State-Wide MLS
MLS Number: 1387473
APN: MIDD-000121-N000000W-000011
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
Copyright © 2025 State-Wide MLS, Inc. All rights reserved.
Nearby Homes
- 117 Wolcott Ave
- 7 Maloney Ln
- 10 Oceanview Dr
- 549 Aquidneck Ave
- 112 Center Ave
- 25 Renfrew Ave
- 57 Warren Ave
- 55 John Clarke Rd Unit 8
- 55 John Clarke Rd Unit 3
- 55 John Clarke Rd Unit 24
- 201 Paradise Ave
- 0 Honeyman Ave
- 281 Green End Ave
- 16 Sachuest Dr
- 318 Corey Ln
- 0 Saltwood Dr
- 36 Kay Blvd
- 0 Shore Dr Unit 1363109
- 142 Honeyman Ave
- 349 Boulevard