NOT LISTED FOR SALE

527 Ocean Ave Newport, RI 02840

Ocean Drive Neighborhood

Estimated Value: $1,648,000 - $6,396,858

1.84 Acres
$2,735,986 Price per Acre
80,150 Sq Ft Lot

Last Sold March 28, 2012

Last sale price $2,700,000

Est. 86% increase in value since last sale

Current estimated payment $29,225/month

190 Days on Market

Highlights

  • Marina
  • Beach Access
  • 1.84 Acre Lot
  • Water Views
  • Golf Course Community
  • Tennis Courts

About This Lot

As of March 2012

Exceptional land on Ocean Drive. Rare offering with Oceanfront views from the south and west. Fabulous landscaping with a beautifully constructed stone wall. Beach rights to Castle Hill and a 5 bedroom ISDS approval already in place.

Last Agent to Sell the Property

Erica Sousa

William Raveis Inspire License #RES.0044800 Listed on: 08/20/2011

Last Buyer's Agent

Kate Leonard

Lila Delman Compass License #RES.0031901

Lila Delman Compass

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $16,394

Lot Details

  • 1.84 Acre Lot
  • Level Lot
  • Finished Lot(s)
  • Property is zoned R40A

Additional Features

  • Water Views
  • Property near a hospital
  • Phone Available

Listing and Financial Details

  • Tax Lot 118
  • Assessor Parcel Number 527OCEANAVNEWP

Community Details

Recreation

  • Marina
  • Golf Course Community
  • Tennis Courts
  • Beach Access
  • Water Access
  • Walking Distance to Water

Additional Features

  • Castle Hill Subdivision
  • Shops

Property Details

Property Type

Land

Est. Annual Taxes

$16,394

Lot Details

0

Listing Details

  • Prop. Type: Land
  • Lot Size Acres: 1.84
  • Road Surface Type: Asphalt
  • Subdivision Name: CASTLE HILL
  • Special Features: None
  • Property Sub Type: LotsLands
  • Stories: 0

Interior Features

  • Possible Use: Single Family

Exterior Features

  • Lot Features: Level
  • Topography: Level
  • View: Saltwater, Water
  • View: Yes
  • Waterfront Features: Beach Access, Water Access, Walk to Water

Utilities

  • Utilities: Electricity Available, Municipal Utilities, Phone Available, Water Connected, Water Available
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Golf, Marina, Near Hospital, Near Schools, Shopping, Tennis Court(s)
  • Senior Community: No

Lot Info

  • Development Status: Finished Lot(s)
  • Lot Size Sq Ft: 80150.0
  • Parcel #: 527OCEANAVNEWP
  • Zoning Description: Residential
  • Zoning: R40A

Tax Info

  • Tax Annual Amount: 16394.0
  • Tax Lot: 118
  • Tax Year: 2011

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 20, 2011
Closed on
Mar 28, 2012
Sold by
Later Paul
Bought by
527 Harbor Point Llc
Seller's Agent
Erica Sousa
William Raveis Inspire
Buyer's Agent
Kate Leonard
Lila Delman Compass
List Price
$3,500,000
Sold Price
$2,700,000
Premium/Discount to List
-$800,000
-22.86%
Current Estimated Value
$5,034,215

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$2,334,215
Avg. Annual Appreciation
4.64%
Original Mortgage
$2,160,000
Outstanding Balance
$1,489,822
Interest Rate
3.88%
Estimated Equity
$3,544,393
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
527 Harbor Point Llc $2,700,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 527 Harbor Point Llc $2,160,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/28/2012 03/28/12 Sold $2,700,000 -22.9% --
02/27/2012 02/27/12 Pending -- -- --
08/20/2011 08/20/11 For Sale $3,500,000 -- --
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 $32,924 $3,789,200 $3,789,200 $0
2024 $31,147 $3,789,200 $3,789,200 $0
2023 $28,567 $2,879,700 $2,879,700 $0
2022 $27,674 $2,879,700 $2,879,700 $0
2021 $26,868 $2,879,700 $2,879,700 $0
2020 $27,626 $2,687,400 $2,687,400 $0
2019 $27,626 $2,687,400 $2,687,400 $0
2018 $26,847 $2,687,400 $2,687,400 $0
2017 $24,914 $2,222,500 $2,222,500 $0
2016 $24,292 $2,222,500 $2,222,500 $0
2015 $23,714 $2,222,500 $2,222,500 $0
2014 $16,751 $1,389,000 $1,389,000 $0
Source: Public Records

Agents Affiliated with this Home

  • E

    Seller's Agent in 2012

    Erica Sousa

    William Raveis Inspire

  • K

    Buyer's Agent in 2012

    Kate Leonard

    Lila Delman Compass

    (401) 952-3461

    4 in this area

    30 Total Sales

    Kate Leonard
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Map

Source: State-Wide MLS

MLS Number: 999890

State-Wide MLS

APN: NEWP-000044-000000-000118

Rhode Island Newport County Newport 02840 Ocean Drive

527 Ocean Ave, Newport, RI

Not Listed for Sale

Lots

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