NOT LISTED FOR SALE

7 Bayview Ave Newport, RI 02840

Estimated Value: $1,599,000 - $2,094,000

9 Beds
3 Baths
5,220 Sq Ft
$353/Sq Ft Est. Value

Last Sold January 19, 2024

Last sale price $1,390,000 $266 Per Sq Ft

Est. 33% increase in value since last sale

Current estimated payment $10,440/month

Highlights

  • Wood Flooring
  • Heating System Uses Gas
  • 4-minute walk to Congdon Parks

About This Home

As of January 2024

Great opportunity as an investment property or owner-occupied property with solid rental income of $7800 per month and potential for more. It is a large and spacious 3-family with over 1700 square feet per unit and over 5200 square feet in total. The units are in good condition and have in-unit washer/dryer. There are 3 bedrooms in each unit with potential for a fourth in each with little to no work. Also, it is located in close walking distance to restaurants, bars, and entertainment on Broadway and downtown. All utilities separate.

Last Agent to Sell the Property

The Fraioli-Wilson Team

Edge Realty RI Listed on: 01/19/2024

Co-Listed By

Alex Fraioli

Edge Realty RI License #RES.0040250

Last Buyer's Agent

The Fraioli-Wilson Team

Edge Realty RI Listed on: 01/19/2024

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,312

Year Built

  • Built in 1900

Lot Details

  • 4,792 Sq Ft Lot

Home Design

  • Vinyl Siding

Interior Spaces

  • 5,220 Sq Ft Home
  • Unfinished Basement
  • Basement Fills Entire Space Under The House

Flooring

  • Wood
  • Carpet

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 3 Full Bathrooms

Parking

  • 4 Parking Spaces
  • No Garage

Utilities

  • No Cooling
  • Heating System Uses Gas
  • 100 Amp Service
  • Gas Water Heater

Listing and Financial Details

  • Tax Lot 199
  • Assessor Parcel Number 7BAYVIEWAVNEWP

Community Details

Overview

  • 3 Units
  • Off Broadway Subdivision

Building Details

  • Operating Expense $6,312

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,312

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.11
  • Co List Office Mls Id: EDGE
  • Co List Office Phone: 401-783-1007
  • Subdivision Name: Off Broadway
  • Above Grade Finished Sq Ft: 5220.0
  • Garage Yn: No
  • New Construction: No
  • Year Built: 1900
  • Special Features: None
  • Stories: 0

Interior Features

  • Number Of Buildings: 1
  • Appliances: Gas Water Heater
  • Has Basement: Full, Unfinished
  • Basement YN: Yes
  • Full Bathrooms: 3
  • Total Bedrooms: 9
  • Fireplace: No
  • Flooring: Carpet, Hardwood
  • ResoLivingAreaSource: PublicRecords

Exterior Features

  • Construction Type: Vinyl Siding

Garage/Parking

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

Utilities

  • Cooling: None
  • Cooling Y N: No
  • Heating: Gas
  • Heating Yn: Yes
  • Electric: 100 Amp Service
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No

Lot Info

  • Land Lease: No
  • Lot Size Sq Ft: 4792.0
  • Parcel #: 7BAYVIEWAVNEWP
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Number Of Units Total: 3
  • Annual Operating Expense: 6312.0

Tax Info

  • Tax Annual Amount: 6312.0
  • Tax Lot: 199
  • Tax Year: 2021

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 19, 2024
Closed on
Jan 17, 2024
Sold by
Lawrence Randy H and Lawrence Caren D
Bought by
Bayview Rental Llc
Seller's Agent
The Fraioli-Wilson Team
Edge Realty RI
Buyer's Agent
The Fraioli-Wilson Team
Edge Realty RI
List Price
$1,390,000
Sold Price
$1,390,000
Views
4
Current Estimated Value
$1,841,872

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$451,872
Avg. Annual Appreciation
16.53%
Original Mortgage
$1,042,500
Outstanding Balance
$1,024,531
Interest Rate
7.03%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$817,341

Purchase Details

Listed on
Jun 21, 2011
Closed on
Mar 30, 2012
Sold by
Lawrence David J
Bought by
Lawrence Randy H
Seller's Agent
David Lawrence
Lila Delman Compass
Buyer's Agent
Wendy Heaney
Century 21 Topsail Realty
List Price
$449,000
Sold Price
$375,000
Premium/Discount to List
-$74,000
-16.48%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
11.73%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
Bayview Rental Llc $1,390,000 None Available
Lawrence Randy H $375,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Bayview Rental Llc $1,042,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
01/19/2024 01/19/24 Sold $1,390,000 0.0% $266 / Sq Ft
01/19/2024 01/19/24 For Sale $1,390,000 0.0% $266 / Sq Ft
04/01/2017 04/01/17 Rented $1,700 -5.6% --
03/02/2017 03/02/17 Under Contract -- -- --
01/25/2017 01/25/17 For Rent $1,800 0.0% --
04/02/2012 04/02/12 Sold $375,000 -16.5% $71 / Sq Ft View Prior Sale
03/03/2012 03/03/12 Pending -- -- --
06/21/2011 06/21/11 For Sale $449,000 -- $85 / 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 $9,365 $1,077,800 $195,600 $882,200
2024 $8,860 $1,077,800 $195,600 $882,200
2023 $6,712 $676,600 $126,900 $549,700
2022 $6,502 $676,600 $126,900 $549,700
2021 $6,313 $676,600 $126,900 $549,700
2020 $5,172 $503,100 $98,500 $404,600
2019 $5,172 $503,100 $98,500 $404,600
2018 $5,026 $503,100 $98,500 $404,600
2017 $5,659 $504,800 $75,800 $429,000
2016 $5,517 $504,800 $75,800 $429,000
2015 $5,386 $504,800 $75,800 $429,000
2014 $4,730 $392,200 $67,800 $324,400
Source: Public Records

Agents Affiliated with this Home

  • The Fraioli-Wilson Team

    Seller's Agent in 2024

    The Fraioli-Wilson Team

    Edge Realty RI

    (401) 258-0341

    5 in this area

    101 Total Sales

    The Fraioli-Wilson Team
    Section Image
  • Alex Fraioli

    Seller Co-Listing Agent in 2024

    Alex Fraioli

    Edge Realty RI

    (401) 255-9109

    24 in this area

    133 Total Sales

    Alex Fraioli
    Section Image
  • Jack McVicker

    Seller's Agent in 2017

    Jack McVicker

    RE/MAX Profnl. Newport, Inc.

    (401) 829-1601

    5 in this area

    17 Total Sales

    Jack McVicker
    Section Image
  • Ryan Shea

    Buyer's Agent in 2017

    Ryan Shea

    HomeSmart Professionals

    (401) 855-3778

    3 in this area

    81 Total Sales

    Ryan Shea
    Section Image
  • David Lawrence

    Seller's Agent in 2012

    David Lawrence

    Lila Delman Compass

    (401) 339-1010

    1 in this area

    10 Total Sales

    David Lawrence
    Section Image
  • Wendy Heaney

    Buyer's Agent in 2012

    Wendy Heaney

    Century 21 Topsail Realty

    (401) 924-2465

    24 Total Sales

    Wendy Heaney
    Section Image
See All Agents

Map

Source: State-Wide MLS

MLS Number: 1351320

State-Wide MLS

APN: NEWP-000014-000000-000199

Rhode Island Newport County Newport 02840

7 Bayview Ave, Newport, RI

Not Listed for Sale

MultiFamily

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