NOT LISTED FOR SALE

575 Spring St Unit 577 Newport, RI 02840

Fifth Ward Neighborhood

Estimated Value: $1,073,000 - $1,435,000

5 Beds
2 Baths
5,424 Sq Ft
$227/Sq Ft Est. Value

Last Sold September 23, 2020

Last sale price $640,000 $118 Per Sq Ft

Est. 93% increase in value since last sale

Current estimated payment $7,295/month

47 Days on Market

Highlights

  • Deck
  • Attic
  • Thermal Windows
  • Wood Flooring
  • Corner Lot
  • Skylights

About This Home

As of September 2020

Located on a large corner lot directly across from Morton Park, this two-unit multi-family property is waiting for your cosmetic updates. Owned and maintained by the same family for over 45 years, this home is bursting with potential. Plenty of living space in both apartments with each unit boasting their own private deck overlooking Spring Street and all separate utilities. There's also the opportunity to finish the large attic space as well. Vinyl siding, windows and the roof are all in great shape. Both furnaces are ten years old or younger and a Generac generator services both apartments in the event that they lose power. Off-street parking in the driveway for up to four cars and a manageable yard space surrounded by hedges for privacy. Bike to the beach, spend time relaxing in Morton Park or walk just a few minutes downtown to everything that Newport has to offer! Subject to seller finding suitable housing.

Last Agent to Sell the Property

Joe Fitzpatrick

RE/MAX Results Listed on: 07/07/2020

RE/MAX Results

Last Buyer's Agent

The Hadfield Group

Hogan Associates Christie's

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,683

Year Built

  • Built in 1912

Lot Details

  • 4,215 Sq Ft Lot
  • Fenced
  • Corner Lot

Home Design

  • Vinyl Siding

Interior Spaces

  • 5,424 Sq Ft Home
  • 2-Story Property
  • Skylights
  • Thermal Windows
  • Storage Room
  • Permanent Attic Stairs

Kitchen

  • Oven
  • Range with Range Hood
  • Microwave
  • Dishwasher

Flooring

  • Wood
  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 2 Full Bathrooms
  • Bathtub with Shower

Unfinished Basement

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

Parking

  • 4 Parking Spaces
  • No Garage
  • Driveway

Accessible Home Design

  • Accessible Hallway
  • Enhanced Accessible Features
  • Accessible Doors
  • Accessible Approach with Ramp
  • Low Pile Carpeting

Outdoor Features

  • Deck
  • Porch

Utilities

  • Window Unit Cooling System
  • Heating System Uses Oil
  • Hot Water Heating System
  • Underground Utilities
  • Power Generator
  • Electric Water Heater
  • Cable TV Available

Community Details

  • 2 Units
  • Fifth Ward Subdivision

Listing and Financial Details

  • Tax Lot 229
  • Assessor Parcel Number 575577SPRINGSTNEWP

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,683

Year Built

Built in 1912

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.1
  • Subdivision Name: Fifth Ward
  • Above Grade Finished Sq Ft: 5424.0
  • Garage Yn: No
  • New Construction: No
  • Year Built: 1912
  • Special Features: VirtualTour

Interior Features

  • Number Of Buildings: 1
  • Appliances: Dishwasher, Exhaust Fan, Electric Water Heater, Microwave, Oven, Range, Refrigerator, Range Hood
  • Accessibility Features: Enhanced Accessible, Low Pile Carpet, Accessible Approach with Ramp, Accessible Doors, Accessible Hallway(s)
  • Has Basement: Exterior Entry, Full, Interior Entry, Unfinished
  • Basement YN: Yes
  • Full Bathrooms: 2
  • Total Bedrooms: 5
  • Fireplace: No
  • Flooring: Carpet, Hardwood, Vinyl
  • Interior Amenities: Attic, Permanent Attic Stairs, Skylights, Tub Shower, Cable TV
  • Dining Room Type: Storage Room
  • Stories: 2
  • Window Features: Skylight(s), Thermal Windows
  • ResoLivingAreaSource: PublicRecords

Exterior Features

  • Fencing: Fenced
  • Lot Features: Corner Lot
  • Construction Type: Vinyl Siding
  • Exterior Features: Deck, Porch, Paved Driveway
  • Patio And Porch Features: Deck, Porch

Garage/Parking

  • Parking Features: No Garage
  • Total Parking Spaces: 4.0

Utilities

  • Cooling: Window Unit(s)
  • Cooling Y N: Yes
  • Heating: Hot Water, Individual, Oil
  • Heating Yn: Yes
  • Electric: Circuit Breakers, Generator
  • Electricity On Property: Yes
  • Sewer: Connected, Public Sewer
  • Utilities: Sewer Connected, Underground Utilities
  • Water Source: Connected, Public

Condo/Co-op/Association

  • Community Features: Sidewalks
  • Senior Community: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 4215.0
  • Parcel #: 575577SPRINGSTNEWP
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Number Of Units Total: 2

Tax Info

  • Tax Annual Amount: 5683.0
  • Tax Lot: 229
  • Tax Year: 2020

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 7, 2020
Closed on
Sep 10, 2020
Sold by
Michaud Cheryl A
Bought by
Spring & Morton Llc
Seller's Agent
Joe Fitzpatrick
RE/MAX Results
Buyer's Agent
The Hadfield Group
Hogan Associates Christie's
List Price
$649,000
Sold Price
$640,000
Premium/Discount to List
-$9,000
-1.39%
Current Estimated Value
$1,232,544

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$592,544
Avg. Annual Appreciation
13.86%
Source: Public Records

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
Spring & Morton Llc $640,000 None Available
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/23/2020 09/23/20 Sold $640,000 -1.4% $118 / Sq Ft
08/24/2020 08/24/20 Pending -- -- --
07/07/2020 07/07/20 For Sale $649,000 -- $120 / 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
2025 $8,814 $1,014,400 $470,400 $544,000
2024 $8,338 $1,014,400 $470,400 $544,000
2023 $6,482 $653,400 $309,700 $343,700
2022 $6,279 $653,400 $309,700 $343,700
2021 $6,096 $653,400 $309,700 $343,700
2020 $5,683 $552,800 $283,800 $269,000
2019 $5,683 $552,800 $283,800 $269,000
2018 $5,522 $552,800 $283,800 $269,000
2017 $5,088 $453,900 $218,300 $235,600
2016 $4,961 $453,900 $218,300 $235,600
2015 $4,843 $453,900 $218,300 $235,600
2014 $4,602 $381,600 $170,600 $211,000
Source: Public Records

Agents Affiliated with this Home

  • Joe Fitzpatrick

    Seller's Agent in 2020

    Joe Fitzpatrick

    RE/MAX Results

    (401) 835-2045

    44 in this area

    695 Total Sales

    Joe Fitzpatrick
    Section Image

  • T

    Buyer's Agent in 2020

    The Hadfield Group

    Hogan Associates Christie's

    (401) 207-0083

    4 in this area

    107 Total Sales

    The Hadfield Group
    Section Image
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Map

Source: State-Wide MLS

MLS Number: 1258114

State-Wide MLS

APN: NEWP-000040-000000-000229

Rhode Island Newport County Newport 02840 Fifth Ward

575 Spring St Unit 577, Newport, RI

This home is located at 575 Spring St Unit 577, Newport, RI 02840 since 07 July 2020 and is currently estimated at $1,232,544, approximately $227 per square foot. This property was built in 1912. 575 Spring St Unit 577 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.

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