NOT LISTED FOR SALE

581 W Main Rd Little Compton, RI 02837

Estimated Value: $2,238,000 - $3,778,000

5 Beds
4 Baths
2,939 Sq Ft
$1,026/Sq Ft Est. Value

Last Sold November 15, 2019

Last sale price $1,225,000 $417 Per Sq Ft

Est. 146% increase in value since last sale

Current estimated payment $17,149/month

131 Days on Market

Highlights

  • Marina
  • Water Views
  • Golf Course Community
  • Wilbur & McMahon School Rated A-
  • Guest House
  • Horses Allowed On Property

About This Home

As of November 2019

The “Mill House” c.1886 – “an artistic masterpiece of subtle charm”. Settled West-facing across the mouth of Sakonnet River w/ striking views of open ocean & rolling pastures, sits an iconic property known by the locals as the “Mill House”. An 1800’s conversion of an old gristmill, first of its kind, turned into a year round residence of historical importance for its “method of construction & artistic collaboration”. The 3-story octagonal Mill Tower maintains all of the integrity from yesteryear featuring exposed beams, mahogany floors, oversized windows & artistic plasterwork of the famed American artist, Sydney Burleigh. The Tower suite, boasts panoramic views of the Atlantic looking over 150 acres of farmland, where you are able to see the Newport Mansions, the infamous Newport Pell Bridge, the sandy beaches of Sachuest Point. The 1st floor encompasses an open-floor plan living & dining room with a grand fireplace, library, kitchen, as well as deeply inset porches & large pane windows for taking in magnificent sunsets. The family compound includes a 4 bed, 2 bath, 1684 sq. ft. 3-season home, called the “Dinghy”. The Mill & Dinghy are set gracefully into the picturesque landscape and enjoy breathtaking seascape views from every room. A rare opportunity to become a steward of this amazing home, as the current family has been for over 130 years. Nearby Sakonnet Point Beaches. Potential for separate purchase of neighbors abutting land. $$ Rental Income Pot. Buyer to pay LCAT

Last Agent to Sell the Property

Welchman Real Estate Group

Compass Listed on: 06/06/2019

Last Buyer's Agent

Cherry Arnold

Mott & Chace Sotheby's Intl. License #RES.0040832

Mott & Chace Sotheby's Intl.

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $7,462

Year Built

  • Built in 1886

Lot Details

  • 1.18 Acre Lot
  • Private Lot
  • Secluded Lot
  • Property is zoned MDL-01

Parking

  • 1 Car Detached Garage

Home Design

  • Antique Architecture
  • Combination Foundation
  • Wood Siding
  • Shingle Siding
  • Concrete Perimeter Foundation
  • Masonry
  • Plaster

Interior Spaces

  • 2,939 Sq Ft Home
  • 3-Story Property
  • 3 Fireplaces
  • Stone Fireplace
  • Fireplace Features Masonry
  • Utility Room
  • Water Views
  • Unfinished Basement
  • Partial Basement
  • Attic

Kitchen

  • Oven
  • Range

Flooring

  • Wood
  • Laminate
  • Ceramic Tile
  • Vinyl

Bedrooms and Bathrooms

  • 5 Bedrooms
  • Bathtub with Shower

Laundry

  • Dryer
  • Washer

Outdoor Features

  • Screened Patio
  • Porch

Utilities

  • No Cooling
  • Heating System Uses Oil
  • Hot Water Heating System
  • 200+ Amp Service
  • Well
  • Oil Water Heater
  • Cesspool
  • Cable TV Available

Additional Features

  • Guest House
  • Horses Allowed On Property

Listing and Financial Details

  • Tax Lot 95
  • Assessor Parcel Number 581WESTMAINRDLCOM

Community Details

Overview

  • West Main Road Subdivision

Recreation

  • Marina
  • Golf Course Community
  • Tennis Courts
  • Recreation Facilities

Home Details

Home Type

Single Family

Est. Annual Taxes

$7,462

Year Built

Built in 1886

Lot Details

0

Parking

1

Listing Details

  • Property Sub Type: Single Family Residence
  • Prop. Type: Residential
  • Horses: Yes
  • Lot Size Acres: 1.18
  • Subdivision Name: West Main Road
  • Above Grade Finished Sq Ft: 2939.0
  • Architectural Style: Historic/Antique
  • Garage Yn: Yes
  • Unit Levels: Three Or More
  • New Construction: No
  • Building Stories: 3
  • Year Built: 1886
  • Property Sub Type Additional: Single Family Residence
  • Special Features: VirtualTour
  • Stories: 3

Interior Features

  • Appliances: Dryer, Oven, Oil Water Heater, Range, Refrigerator, Washer
  • Has Basement: Partial, Unfinished
  • Basement YN: Yes
  • Full Bathrooms: 2
  • Half Bathrooms: 2
  • Total Bedrooms: 5
  • Fireplace Features: Masonry, Stone
  • Fireplaces: 3
  • Fireplace: Yes
  • Flooring: Ceramic Tile, Hardwood, Laminate, Vinyl, Wood
  • Interior Amenities: Attic, Bathtub, Tub Shower, Cable TV
  • Living Area: 2939.0
  • Dining Room Type: Utility Room
  • Stories: 3
  • ResoLivingAreaSource: PublicRecords

Exterior Features

  • Lot Features: Private, Secluded
  • View: Saltwater, Water
  • View: Yes
  • Construction Type: Plaster, Wood Siding, Masonry, Shingle Siding
  • Foundation Details: Combination, Concrete Perimeter
  • Other Structures: Guest House
  • Patio And Porch Features: Porch, Screened

Garage/Parking

  • Attached Garage: No
  • Covered Parking Spaces: 1.0
  • Garage Spaces: 1.0
  • Parking Features: Detached, Garage
  • Total Parking Spaces: 9.0

Utilities

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

Condo/Co-op/Association

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

Lot Info

  • Horse Amenities: Horses Allowed
  • Land Lease: No
  • Lot Size Sq Ft: 51400.0
  • Parcel #: 581WESTMAINRDLCOM
  • Zoning: MDL-01
  • ResoLotSizeUnits: SquareFeet

Tax Info

  • Tax Annual Amount: 7462.0
  • Tax Lot: 95
  • Tax Year: 2019

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 6, 2019
Closed on
Nov 15, 2019
Sold by
Lynch Jeremiah C
Bought by
Licholai Gregory P and Duhamel Charlotte N
Seller's Agent
Welchman Real Estate Group
Compass
Buyer's Agent
Cherry Arnold
Mott & Chace Sotheby's Intl.
List Price
$1,495,000
Sold Price
$1,225,000
Premium/Discount to List
-$270,000
-18.06%
Current Estimated Value
$3,016,009

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,791,009
Avg. Annual Appreciation
15.67%
Original Mortgage
$918,750
Interest Rate
3.65%
Mortgage Type
Purchase Money Mortgage
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
Licholai Gregory P $1,225,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Licholai Gregory P $918,750
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/15/2019 11/15/19 Sold $1,225,000 0.0% $417 / Sq Ft
11/15/2019 11/15/19 Sold $1,225,000 -18.1% $265 / Sq Ft
10/16/2019 10/16/19 Pending -- -- --
09/11/2019 09/11/19 Pending -- -- --
06/06/2019 06/06/19 For Sale $1,495,000 0.0% $509 / Sq Ft
05/01/2019 05/01/19 For Sale $1,495,000 -- $323 / 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 $13,892 $2,734,600 $677,800 $2,056,800
2023 $13,564 $2,734,600 $677,800 $2,056,800
2022 $8,568 $1,748,500 $677,800 $1,070,700
2021 $6,112 $1,011,900 $589,000 $422,900
2020 $7,173 $1,197,500 $589,000 $608,500
2019 $7,101 $1,197,500 $589,000 $608,500
2018 $7,463 $1,252,100 $589,000 $663,100
2016 $7,099 $1,252,100 $589,000 $663,100
2015 $6,993 $1,216,100 $535,100 $681,000
2014 $6,859 $1,216,100 $535,100 $681,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: State-Wide MLS

MLS Number: 1225880

State-Wide MLS

APN: LCOM-000006-000000-000095