NOT LISTED FOR SALE

571 Ocean Ave Newport, RI 02840

Ocean Drive Neighborhood

Estimated Value: $4,806,649 - $5,403,000

4 Beds
3 Baths
2,956 Sq Ft
$1,719/Sq Ft Est. Value

Last Sold December 10, 2015

Last sale price $2,100,000 $710 Per Sq Ft

Est. 142% increase in value since last sale

Current estimated payment $30,241/month

220 Days on Market

Highlights

  • Beach Front
  • Indoor Pool
  • Wood Flooring
  • Golf Course Community
  • Colonial Architecture
  • Attic

About This Home

As of December 2015

Enjoy spectacular, panoramic ocean views and fabulous sunsets from this 4-bedroom, 3-bath Colonial with indoor pool. This is a wonderful opportunity to create your own beautiful seaside getaway by the ocean. Deeded beach rights to Agassiz Beach.

Last Agent to Sell the Property

Donald Desrosiers

Gustave White Sotheby's Realty License #RES.0030921 Listed on: 04/03/2015

Co-Listed By

Jose Aguon

Gustave White Sotheby's Realty License #RES.0030702

Gustave White Sotheby's Realty

Last Buyer's Agent

Jose Aguon

Gustave White Sotheby's Realty License #RES.0030702

Gustave White Sotheby's Realty

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $25,071

Year Built

  • Built in 1967

Lot Details

  • 0.63 Acre Lot
  • Beach Front
  • Property is zoned R40

Parking

  • 2 Car Attached Garage
  • Garage Door Opener
  • Driveway

Home Design

  • Colonial Architecture
  • Shingle Siding
  • Concrete Perimeter Foundation
  • Plaster

Interior Spaces

  • 2-Story Property
  • Central Vacuum
  • Dry Bar
  • Fireplace Features Masonry
  • Thermal Windows
  • Game Room
  • Water Views
  • Storm Doors
  • Attic

Flooring

  • Wood
  • Carpet

Bedrooms and Bathrooms

  • 4 Bedrooms
  • Cedar Closet
  • 3 Full Bathrooms

Partially Finished Basement

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

Outdoor Features

  • Indoor Pool
  • Walking Distance to Water
  • Breezeway

Utilities

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

Listing and Financial Details

  • Tax Lot 070
  • Assessor Parcel Number 571OCEANAVNEWP

Community Details

Overview

  • Ocean Drive Subdivision

Recreation

  • Golf Course Community

Home Details

Home Type

Single Family

Est. Annual Taxes

$25,071

Year Built

Built in 1967

Lot Details

0

Parking

2

Listing Details

  • Property Sub Type: Single Family Residence
  • Prop. Type: Residential
  • Lot Size Acres: 0.6269
  • Co List Office Mls Id: GUST
  • Co List Office Phone: 401-849-3000
  • Subdivision Name: OCEAN DRIVE
  • Above Grade Finished Sq Ft: 2756.0
  • Architectural Style: Colonial
  • Garage Yn: Yes
  • Unit Levels: Two
  • New Construction: No
  • Building Stories: 2
  • Year Built: 1967
  • Property Sub Type Additional: Single Family Residence
  • Special Features: VirtualTour
  • Stories: 2

Interior Features

  • Appliances: Oil Water Heater, Tankless Water Heater
  • Has Basement: Exterior Entry, Full, Interior Entry, Partially Finished
  • Basement YN: Yes
  • Full Bathrooms: 3
  • Total Bedrooms: 4
  • Below Grade Sq Ft: 200.0
  • Door Features: Storm Door(s)
  • Fireplace Features: Masonry
  • Fireplaces: 1
  • Fireplace: Yes
  • Flooring: Carpet, Hardwood
  • Interior Amenities: Attic, Cedar Closet(s), Dry Bar, Central Vacuum
  • Living Area: 2956.0
  • Dining Room Type: Game Room
  • Stories: 2
  • Window Features: Thermal Windows
  • ResoLivingAreaSource: PublicRecords

Exterior Features

  • Pool Features: Indoor
  • View: Saltwater, Water
  • View: Yes
  • Waterfront Features: Beach Access, Beach Front, Ocean Front, Walk to Water
  • Waterfront: Yes
  • Construction Type: Plaster, Shingle Siding
  • Exterior Features: Breezeway, Paved Driveway
  • Foundation Details: Concrete Perimeter

Garage/Parking

  • Attached Garage: Yes
  • Covered Parking Spaces: 2.0
  • Garage Spaces: 2.0
  • Parking Features: Attached, Garage, Garage Door Opener
  • Total Parking Spaces: 8.0

Utilities

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

Condo/Co-op/Association

  • Community Features: Golf, Near Schools
  • Senior Community: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 27307.0
  • Parcel #: 571OCEANAVNEWP
  • Zoning: R40
  • ResoLotSizeUnits: SquareFeet

Tax Info

  • Tax Annual Amount: 25071.0
  • Tax Lot: 070
  • Tax Year: 2015

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 3, 2015
Closed on
Dec 10, 2015
Sold by
Mcgrath Blanche A
Bought by
Adams Pamela B
Seller's Agent
Donald Desrosiers
Gustave White Sotheby's Realty
Buyer's Agent
Jose Aguon
Gustave White Sotheby's Realty
List Price
$3,700,000
Sold Price
$2,100,000
Premium/Discount to List
-$1,600,000
-43.24%
Current Estimated Value
$5,081,912

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$2,981,912
Avg. Annual Appreciation
8.45%
Original Mortgage
$1,575,000
Outstanding Balance
$1,297,246
Interest Rate
3.77%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$3,311,607

Purchase Details

Closed on
Nov 6, 2014
Sold by
Mcgrath Blanche A
Bought by
Blanche A Mcgrath T and Edward F Mcgrath T

Purchase Details

Closed on
Sep 16, 2011
Sold by
Mcgath Edward and Mcgath Blanche
Bought by
Blanche A Mcgrath T and Edward F Mcgrath T
Source: Public Records

Range of Values:

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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
Adams Pamela B $2,100,000 --
Blanche A Mcgrath T -- --
Blanche A Mcgrath T -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Mcgrath Edward F $1,575,000
Previous Owner Mcgrath Edward F $250,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/10/2015 12/10/15 Sold $2,100,000 -43.2% $710 / Sq Ft
11/10/2015 11/10/15 Pending -- -- --
04/03/2015 04/03/15 For Sale $3,700,000 -- $1,252 / 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 $29,003 $4,161,100 $3,186,700 $974,400
2023 $30,004 $3,024,600 $2,354,700 $669,900
2022 $29,066 $3,024,600 $2,354,700 $669,900
2021 $28,220 $3,024,600 $2,354,700 $669,900
2020 $26,678 $2,595,100 $2,100,600 $494,500
2019 $26,678 $2,595,100 $2,100,600 $494,500
2018 $25,925 $2,595,100 $2,100,600 $494,500
2017 $24,564 $2,191,300 $1,707,200 $484,100
2016 $23,612 $2,160,300 $1,707,200 $453,100
2015 $23,050 $2,160,300 $1,707,200 $453,100
2014 $18,783 $1,557,500 $1,067,000 $490,500
Source: Public Records

Agents Affiliated with this Home

  • D

    Seller's Agent in 2015

    Donald Desrosiers

    Gustave White Sotheby's Realty

  • Jose Aguon

    Seller Co-Listing Agent in 2015

    Jose Aguon

    Gustave White Sotheby's Realty

    (401) 263-4168

    1 in this area

    30 Total Sales

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Map

Source: State-Wide MLS

MLS Number: 1091666

State-Wide MLS

APN: NEWP-000044-000000-000070

Rhode Island Newport County Newport 02840 Ocean Drive

571 Ocean Ave, Newport, RI

This home is located at 571 Ocean Ave, Newport, RI 02840 since 03 April 2015 and is currently estimated at $5,081,912, approximately $1,719 per square foot. This property was built in 1967. 571 Ocean Ave is a home located in Newport County with nearby schools including Rogers High School and St Michael's Country Day School.

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