Allen Gammons
BHHS Commonwealth Real Estate
(401) 208-0582
392 Total Sales
2 in Fifth Ward
$860K - $1.7M Price Range
501 Spring St Newport, RI 02840
Fifth Ward Neighborhood
10
Beds
6
Baths
4,068
Sq Ft
3,912
Sq Ft Lot
Highlights
- Marina
- 1 Fireplace
- Tennis Courts
- Wood Flooring
- Furnished
- Skylights
About This Home
As of October 2025Large 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 new granite counter top, 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.
Last Agent to Sell the Property
William Raveis Inspire License #RES.0034034 Listed on: 08/06/2025
Last Buyer's Agent
William Raveis Inspire License #RES.0034034 Listed on: 08/06/2025
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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
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Aug 6, 2025
Closed on
Sep 24, 2025
Sold by
Bought by
Seller's Agent
Christopher Walker
William Raveis Inspire
Buyer's Agent
Christopher Walker
William Raveis Inspire
List Price
$1,875,000
Sold Price
$1,800,000
Premium/Discount to List
-$75,000
-4%
Views
31
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
$131,745
Avg. Annual Appreciation
9.23%
Purchase Details
Closed on
May 8, 2017
Sold by
Bought by
Purchase Details
Listed on
Oct 3, 2012
Closed on
Jan 24, 2013
Sold by
Bought by
Seller's Agent
Diane Dailey
REMAX Revolution
Buyer's Agent
Brooks Hawkins
Libby Kirwin Real Estate
List Price
$639,000
Sold Price
$616,000
Premium/Discount to List
-$23,000
-3.6%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.81%
Original Mortgage
$462,000
Interest Rate
3.35%
Mortgage Type
Commercial
Purchase Details
Closed on
Oct 31, 2003
Sold by
Bought by
Purchase Details
Closed on
Sep 18, 2002
Sold by
Bought by
Purchase Details
Closed on
Sep 14, 1999
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Fifth Ward, RI
-
Allen Gammons
-
Daniel Cordeiro
Daniel Cordeiro
Gustave White Sotheby's Realty
(844) 763-4116
17 Total Sales
1 in Fifth Ward
$1,350,000 Price
-
S & O Rhode Island Group
S & O Rhode Island Group
Smith and Oak Real Estate Co.
(401) 592-5919
73 Total Sales
1 in Fifth Ward
$1,515,000 Price
-
The Labonte Group
The Labonte Group
Residential Properties Ltd.
(959) 230-0915
17 Total Sales
1 in Fifth Ward
$1,695,000 Price
-
David Carty
David Carty
CARTY REALTY
(401) 756-1960
87 Total Sales
1 in Fifth Ward
$2,125,000 Price
-
Lisa Raposa
Lisa Raposa
Responds QuicklyCompass
(401) 386-9171
74 Total Sales
1 in Fifth Ward
$1,675,000 Price
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $1,800,000 | -- | |
| Warranty Deed | -- | -- | |
| Warranty Deed | $616,000 | -- | |
| Deed | $585,000 | -- | |
| Deed | $535,000 | -- | |
| Warranty Deed | $255,000 | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $1,350,000 | Unknown | |
| Previous Owner | $462,000 | Commercial | |
| Previous Owner | $528,000 | No Value Available | |
| Previous Owner | $204,000 | No Value Available | |
| Previous Owner | $94,000 | No Value Available |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 10/15/2025 10/15/25 | Sold | $1,800,000 | -4.0% | $442 / Sq Ft | |
| 09/23/2025 09/23/25 | Pending | -- | -- | -- | |
| 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 | View Prior Sale |
| 12/25/2012 12/25/12 | Pending | -- | -- | -- | |
| 10/03/2012 10/03/12 | For Sale | $639,000 | -- | $173 / Sq Ft |
Source: State-Wide MLS
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $12,099 | $1,392,400 | $392,600 | $999,800 |
| 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
Agents Affiliated with this Home
-
Christopher Walker
C
Seller's Agent in 2025
Christopher Walker
William Raveis Inspire
(401) 207-3970
4 in this area
17 Total Sales
-
Arthur Chapman
Seller Co-Listing Agent in 2025
Arthur Chapman
William Raveis Inspire
(401) 640-0807
5 in this area
65 Total Sales
-
Diane Dailey
Seller's Agent in 2013
Diane Dailey
REMAX Revolution
(401) 855-9192
2 Total Sales
-
Grace Cimo
Seller Co-Listing Agent in 2013
Grace Cimo
Gustave White Sotheby's Realty
(401) 222-9651
10 in this area
95 Total Sales
-
B
Buyer's Agent in 2013
Brooks Hawkins
Libby Kirwin Real Estate
Map
Source: State-Wide MLS
MLS Number: 1391997
APN: NEWP-000035-000000-000092
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