$1,875,000
OPEN FRI 4PM - 6PM

501 Spring St Newport, RI 02840

Fifth Ward Neighborhood

Estimated payment $11,220/month

Total Views 154
10 Beds
6 Baths
4,068 Sq Ft
$461 Price per Sq Ft

Highlights

  • Marina
  • 1 Fireplace
  • Tennis Courts
  • Wood Flooring
  • Furnished
  • Skylights

About This Home

Large 3-family in downtown Newport. This buildings combination of size, location, parking, and rentability make it a great asset for anyone's Real Estate portfolio.

This building encompases three large apartments for a total of 10 beds, 6 baths, and 6 parking spots. The 1st floor is a 3 bed 2 bath and it's kitchen is renovated. The 2nd floor is a 3 bed 2 bath and it has a renovated bathroom. The 3rd floor is a 4 bed 2 bath and it has a renovated kitchen, as well as charming sky lights and exposed beams. All three apartments come with 2 parking spots, hardwood floors, and the furniture in the units. All apartments have been fully rented for the past decade and are currently rented through May 2026, making this property is perfectly positioned for investors looking to capitalize on Newports dynamic market.

Listing Agent

Christopher Walker

William Raveis Inspire License #RES.0034034 Listed on: 08/06/2025

William Raveis Inspire

Co-Listing Agent

Arthur Chapman

William Raveis Inspire

Open House Schedule

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,447

Year Built

  • Built in 1900

Home Design

  • Stone Foundation
  • Shingle Siding
  • Clapboard
  • Plaster

Interior Spaces

  • 4,068 Sq Ft Home
  • 3-Story Property
  • Furnished
  • Skylights
  • 1 Fireplace
  • Wood Flooring

Kitchen

  • Oven
  • Range
  • Microwave
  • Dishwasher

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 6 Full Bathrooms

Laundry

  • Dryer
  • Washer

Unfinished Basement

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

Parking

  • 6 Parking Spaces
  • No Garage

Utilities

  • No Cooling
  • Forced Air Heating System
  • Heating System Uses Gas
  • Heating System Uses Oil
  • 100 Amp Service
  • Gas Water Heater
  • Oil Water Heater

Additional Features

  • 3,912 Sq Ft Lot
  • Property near a hospital

Listing and Financial Details

  • Tax Lot 092
  • Assessor Parcel Number 501SPRINGSTNEWP

Community Details

Overview

  • 3 Units
  • Yachting Village Subdivision

Amenities

  • Shops
  • Restaurant
  • Public Transportation

Recreation

  • Marina
  • Tennis Courts
  • Recreation Facilities

Building Details

  • Operating Expense $26,588

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,447

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.0898
  • Co List Office Mls Id: CHAP
  • Co List Office Phone: 401-846-3800
  • Subdivision Name: Yachting Village
  • Above Grade Finished Sq Ft: 4068.0
  • Garage Yn: No
  • New Construction: No
  • Year Built: 1900
  • Special Features: OpenHouse

Interior Features

  • Furnished: Furnished
  • Number Of Buildings: 1
  • Appliances: Dryer, Dishwasher, Gas Water Heater, Microwave, Oven, Oil Water Heater, Range, Refrigerator, Washer
  • Has Basement: Exterior Entry, Full, Interior Entry, Unfinished
  • Basement YN: Yes
  • Full Bathrooms: 6
  • Total Bedrooms: 10
  • Fireplace Features: None
  • Fireplaces: 1
  • Fireplace: No
  • Flooring: Hardwood
  • Interior Amenities: Skylights, Furnished
  • Stories: 3
  • Window Features: Skylight(s)

Exterior Features

  • Construction Type: Plaster, Clapboard, Shingle Siding
  • Foundation Details: Stone

Garage/Parking

  • Parking Features: No Garage
  • Total Parking Spaces: 6.0

Utilities

  • Laundry Features: Common Area
  • Cooling: None
  • Cooling Y N: No
  • Heating: Forced Air, Gas, Oil
  • Heating Yn: Yes
  • Electric: 100 Amp Service
  • Sewer: Connected
  • Utilities: Sewer Connected
  • Water Source: Connected

Condo/Co-op/Association

  • Community Features: Highway Access, Marina, Near Hospital, Near Schools, Public Transportation, Recreation Area, Restaurant, Shopping, Tennis Court(s)
  • Senior Community: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 3912.0
  • Parcel #: 501SPRINGSTNEWP

Multi Family

  • Number Of Units Total: 3
  • Annual Operating Expense: 26588.0

Tax Info

  • Tax Annual Amount: 11447.0
  • Tax Lot: 092
  • Tax Map Number: 35
  • Tax Year: 2025

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

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
2024 $11,446 $1,392,400 $392,600 $999,800
2023 $8,770 $884,100 $256,600 $627,500
2022 $8,496 $884,100 $256,600 $627,500
2021 $8,249 $884,100 $256,600 $627,500
2020 $7,171 $697,600 $221,300 $476,300
2019 $7,123 $692,900 $221,300 $471,600
2018 $6,922 $692,900 $221,300 $471,600
2017 $7,607 $678,600 $158,200 $520,400
2016 $7,417 $678,600 $158,200 $520,400
2015 $7,241 $678,600 $158,200 $520,400
2014 $6,059 $502,400 $134,500 $367,900
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/06/2025 08/06/25 For Sale $1,875,000 0.0% $461 / Sq Ft
02/07/2017 02/07/17 Rented $3,333 +102.0% --
01/08/2017 01/08/17 Under Contract -- -- --
08/19/2016 08/19/16 For Rent $1,650 +4.8% --
10/19/2015 10/19/15 Rented $1,575 0.0% --
09/19/2015 09/19/15 Under Contract -- -- --
09/02/2015 09/02/15 For Rent $1,575 -81.5% --
02/26/2015 02/26/15 Rented $8,500 +183.3% --
01/27/2015 01/27/15 Under Contract -- -- --
01/20/2015 01/20/15 For Rent $3,000 0.0% --
01/24/2013 01/24/13 Sold $616,000 -3.6% $167 / Sq Ft
12/25/2012 12/25/12 Pending -- -- --
10/03/2012 10/03/12 For Sale $639,000 -- $173 / Sq Ft
Source: State-Wide MLS

Purchase History

Date Type Sale Price Title Company
Warranty Deed -- --
Warranty Deed $616,000 --
Deed $585,000 --
Deed $535,000 --
Warranty Deed $255,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $462,000 Commercial
Previous Owner $528,000 No Value Available
Previous Owner $468,000 Commercial
Previous Owner $481,500 No Value Available
Source: Public Records

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Source: State-Wide MLS

MLS Number: 1391997

State-Wide MLS

APN: NEWP-000035-000000-000092

Rhode Island Newport County Newport 02840 Fifth Ward

501 Spring St, Newport, RI

This home is located at 501 Spring St, Newport, RI 02840 and is currently priced at $1,875,000, approximately $460 per square foot. This property was built in 1900. 501 Spring St 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.

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.

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Nearby Homes
Listing Agent
Christopher Walker
Section Image
William Raveis Inspire
(401) 329-9012