NOT LISTED FOR SALE

503 Old Town Rd Block Island, RI 02807

Estimated Value: $1,592,270 - $2,021,000

4 Beds
3 Baths
2,700 Sq Ft
$643/Sq Ft Est. Value

Last Sold November 12, 2020

Last sale price $1,080,000 $400 Per Sq Ft

Est. 61% increase in value since last sale

Current estimated payment $10,071/month

73 Days on Market

Highlights

  • Colonial Architecture
  • 1 Car Detached Garage
  • Heating System Uses Steam
  • Wood Flooring
  • Bathtub with Shower

About This Home

As of November 2020

Own a piece of Block Island history in this spacious year-round home from 1850. What was once known as "The Parsonage", this 4 bedroom, 3 full bathroom house has a large, open floor plan with gleaming hardwoods throughout and high ceilings. With numerous updates over the years, there are still bits of historic detail warmly peeking through. Perched high on a grassy knoll, one can appreciate the privacy this lot has to offer while still being less than a mile to town. The property is conveniently located between Old and New Harbors and is walking distance to conservancy trails. This fine example of Mansard design boasts a fantastic covered front porch overlooking a tranquil pond, and provides an easy way to watch the world go by. A 468 sq. ft. garage on the property has a new roof and provides a great additional storage area. Strong rental history.

Last Listed By

Jennifer Phillips

Phillips Real Estate License #REB.0015012 Listed on: 07/31/2020

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $3,835

Year Built

  • Built in 1850

Lot Details

  • 1.38 Acre Lot
  • Property is zoned RB

Parking

  • 1 Car Detached Garage

Home Design

  • Colonial Architecture
  • Stone Foundation
  • Shingle Siding

Interior Spaces

  • 2-Story Property
  • Wood Flooring

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 3 Full Bathrooms
  • Bathtub with Shower

Unfinished Basement

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

Utilities

  • No Cooling
  • Heating System Uses Oil
  • Heating System Uses Steam
  • 200+ Amp Service
  • Well
  • Oil Water Heater
  • Septic Tank

Listing and Financial Details

  • Tax Lot 50-1
  • Assessor Parcel Number 503OLDTOWNRDNSHM

Home Details

Home Type

Single Family

Est. Annual Taxes

$3,835

Year Built

Built in 1850

Lot Details

0

Parking

1

Listing Details

  • Property Sub Type: Single Family Residence
  • Prop. Type: Residential
  • Lot Size Acres: 1.38
  • Above Grade Finished Sq Ft: 1766.0
  • Architectural Style: Colonial
  • Garage Yn: Yes
  • Unit Levels: Two
  • New Construction: No
  • Building Stories: 2
  • Year Built: 1850
  • Property Sub Type Additional: Single Family Residence
  • Special Features: VirtualTour
  • Stories: 2

Interior Features

  • Appliances: Oil Water Heater
  • Has Basement: Full, Interior Entry, Unfinished
  • Basement YN: Yes
  • Full Bathrooms: 3
  • Total Bedrooms: 4
  • Below Grade Sq Ft: 934.0
  • Fireplace Features: None
  • Fireplace: No
  • Flooring: Hardwood
  • Interior Amenities: Tub Shower
  • Living Area: 2700.0
  • Stories: 2
  • ResoLivingAreaSource: PublicRecords

Exterior Features

  • Construction Type: Drywall, Shingle Siding
  • Foundation Details: Stone

Garage/Parking

  • Attached Garage: No
  • Covered Parking Spaces: 1.0
  • Garage Spaces: 1.0
  • Parking Features: Detached, Garage
  • Total Parking Spaces: 5.0

Utilities

  • Cooling: None
  • Cooling Y N: No
  • Heating: Hot Water, Oil
  • Heating Yn: Yes
  • Electric: 200+ Amp Service
  • Sewer: Septic Tank
  • Water Source: Well

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 60113.0
  • Parcel #: 503OLDTOWNRDNSHM
  • Zoning: RB
  • ResoLotSizeUnits: SquareFeet

Tax Info

  • Tax Annual Amount: 3835.0
  • Tax Lot: 50-1
  • Tax Year: 2018

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 31, 2020
Closed on
Nov 12, 2020
Sold by
Wateran Elaine B
Bought by
Rathbun-Wilson Eric and Bullock-Wilson Madelene
Seller's Agent
Jennifer Phillips
Phillips Real Estate
Buyer's Agent
Katharine Butcher
Block Island Realty
List Price
$1,225,000
Sold Price
$1,080,000
Premium/Discount to List
-$145,000
-11.84%
Total Days on Market
73
Current Estimated Value
$1,734,818

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$654,818
Avg. Annual Appreciation
11.13%

Range of Values:

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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
Rathbun-Wilson Eric $1,080,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Bullock-Wilson Madelene $600,000
Previous Owner Waterman Eugene $247,500
Previous Owner Waterman Eugene $295,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/12/2020 11/12/20 Sold $1,080,000 -11.8% $400 / Sq Ft
10/13/2020 10/13/20 Pending -- -- --
07/31/2020 07/31/20 For Sale $1,225,000 -- $454 / 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
2024 $5,437 $984,900 $509,800 $475,100
2023 $5,929 $984,900 $509,800 $475,100
2022 $4,468 $631,120 $453,520 $177,600
2021 $4,229 $631,120 $453,520 $177,600
2020 $4,014 $631,120 $453,520 $177,600
2019 $3,888 $631,120 $453,520 $177,600
2018 $3,835 $644,560 $453,520 $191,040
2017 $3,777 $644,560 $453,520 $191,040
2016 $3,687 $644,560 $453,520 $191,040
2015 $5,125 $930,200 $680,300 $249,900
2014 $4,967 $930,200 $680,300 $249,900
2013 $4,846 $930,200 $680,300 $249,900
Source: Public Records

Agents Affiliated with this Home

  • Jennifer Phillips

    Seller's Agent in 2020

    Jennifer Phillips

    Phillips Real Estate

    (401) 466-8806

    32 Total Sales

    Jennifer Phillips
    Section Image
  • Katharine Butcher

    Buyer's Agent in 2020

    Katharine Butcher

    Block Island Realty

    (401) 466-5887

    18 Total Sales

    Katharine Butcher
    Section Image
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Map

Source: State-Wide MLS

MLS Number: 1260485

State-Wide MLS

APN: BLOC-000017-000000-000050-000001

Rhode Island Washington County Block Island 02807

503 Old Town Rd, Block Island, RI

Homes for Sale in Block Island, RI

This home is located at 503 Old Town Rd, Block Island, RI 02807 since 31 July 2020 and is currently estimated at $1,734,818, approximately $642 per square foot. This property was built in 1850. 503 Old Town Rd is a home located in Washington County with nearby schools including Block Island School.

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