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Sold for $1,800,000
    • $1,800,000

    501 Spring St, Newport, RI 02840

    10beds
    4,026sqft
    Multi Family
    Built in 1900
    -- sqft lot
    $1,948,300 Zestimate®
    $447/sqft
    $4,486 Estimated rent

    Home value

    $1,948,300

    $1.71M - $2.22M

    $4,486/mo

    Zestimate® history
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    $4,486/mo

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    $8,735/mo

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    What's special

    Large 3-family in downtown Newport. This buildings combination of size, location, parking, and rentability make it a great asset for anyone's Real Estate portfolio. This building encompases three large apartments for a total of 10 beds, 6 baths, and 6 parking spots. The 1st floor is a 3 bed 2 bath and it's kitchen is renovated. The 2nd floor is a 3 bed 2 bath and it has a renovated bathroom. The 3rd floor is a 4 bed 2 bath and it has a new granite counter top, as well as charming sky lights and exposed beams. All three apartments come with 2 parking spots, hardwood floors, and the furniture in the units. All apartments have been fully rented for the past decade and are currently rented through May 2026, making this property is perfectly positioned for investors looking to capitalize on Newports dynamic market.

    Zillow last checked:

    Listing updated:

    Listed by:

    Christopher Walker 401-207-3970,

    William Raveis Inspire,

    The Aquidneck Team 401-640-0807,

    William Raveis Inspire

    Bought with:

    Christopher Walker, RES.0034034

    William Raveis Inspire

    Arthur Chapman, REB.0015893

    William Raveis Inspire

    Source: StateWide MLS RI,MLS#: 1391997MLS Logo

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 10
    • Bathrooms: 6
    • Full bathrooms: 6
    Heating
    • Natural Gas, Oil, Forced Air
    Cooling
    • None
    Appliances
    • Included: Gas Water Heater, Dishwasher, Dryer, Microwave, Oven/Range, Refrigerator, Washer
    • Laundry: In Building
    Features
    • Wall (Plaster), Skylight, Stairs, Plumbing (Mixed), Ceiling Fan(s)
    • Flooring: Hardwood
    • Windows: Skylight(s)
    • Basement: Full,Interior and Exterior,Unfinished
    • Number of fireplaces: 1
    • Fireplace features: None
    Interior area
    • Total structure area: 4,068
    • Total interior livable area: 4,026 sqft

    Property

    Parking
    • Total spaces: 6
    • Parking features: No Garage
    Features
    • Stories: 3
    Lot
    • Size: 3,911 Square Feet
    Details
    • Parcel number: NEWPM035B0092
    • Special conditions: Conventional/Market Value

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Multi Family
    • Attached to another structure: Yes
    Materials
    • Plaster, Clapboard, Shingles
    • Foundation: Stone
    Condition
    • New construction: No
    • Year built: 1900

    Utilities & green energy

    • Electric: 100 Amp Service
    • Utilities for property: Sewer Connected, Water Connected

    Community & HOA

    Community
    • Features: Near Public Transport, Highway Access, Hospital, Marina, Private School, Public School, Recreational Facilities, Restaurants, Schools, Near Shopping, Near Swimming, Tennis
    • Subdivision: Yachting Village
    HOA
    • Has HOA: No
    Location
    • Region: Newport

    Financial & listing details

    • Price per square foot: $447/sqft
    • Tax assessed value: $1,392,400
    • Annual tax amount: $11,447
    • Date on market: 8/6/2025
    • Total actual rent: 10437

    Price history

    DateEventPrice
    5/27/2026Listing removed$3,200$1/sqft
    Source: Zillow Rentals Report a problem
    2/17/2026Price change$3,200-8.6%$1/sqft
    Source: Zillow Rentals Report a problem
    10/15/2025Sold$1,800,000-4%$447/sqft
    Source: StateWide MLS RI #1391997 Report a problem
    9/23/2025Pending sale$1,875,000$466/sqft
    Source: StateWide MLS RI #1391997 Report a problem
    9/5/2025Contingent$1,875,000$466/sqft
    Source: StateWide MLS RI #1391997 Report a problem
    8/15/2025Listed for rent$3,500-44.7%$1/sqft
    Source: Zillow Rentals Report a problem
    8/6/2025Listed for sale$1,875,000+204.4%$466/sqft
    Source: StateWide MLS RI #1391997 Report a problem
    5/5/2025Listing removed$6,334$2/sqft
    Source: Zillow Rentals Report a problem
    11/20/2024Listed for rent$6,334$2/sqft
    Source: Zillow Rentals Report a problem
    11/12/2024Listing removed$6,334$2/sqft
    Source: Zillow Rentals Report a problem
    10/28/2024Price change$6,334+104.3%$2/sqft
    Source: Zillow Rentals Report a problem
    8/3/2024Listed for rent$3,100-48.3%$1/sqft
    Source: Zillow Rentals Report a problem
    5/8/2024Listing removed--
    Source: Zillow Rentals Report a problem
    2/29/2024Price change$6,000-5.3%$1/sqft
    Source: Zillow Rentals Report a problem
    10/8/2023Price change$6,334+111.1%$2/sqft
    Source: Zillow Rentals Report a problem
    9/10/2023Listed for rent$3,000-50%$1/sqft
    Source: Zillow Rentals Report a problem
    3/23/2023Listing removed--
    Source: Zillow Rentals Report a problem
    3/1/2023Price change$6,000-10%$1/sqft
    Source: Zillow Rentals Report a problem
    1/4/2023Price change$6,667+129.9%$2/sqft
    Source: Zillow Rentals Report a problem
    9/9/2022Listed for rent$2,900-42%$1/sqft
    Source: Zillow Rental Manager Report a problem
    6/20/2022Listing removed--
    Source: Zillow Rental Manager Report a problem
    6/6/2022Listed for rent$5,000+127.3%$1/sqft
    Source: Zillow Rental Manager Report a problem
    9/4/2019Listing removed$2,200$1/sqft
    Source: WILLIAM RAVEIS CHAPMAN ENSTONE #1233883 Report a problem
    9/2/2019Listed for rent$2,200-37.1%$1/sqft
    Source: WILLIAM RAVEIS CHAPMAN ENSTONE #1233883 Report a problem
    2/8/2017Listing removed$3,500$1/sqft
    Source: WILLIAM RAVEIS CHAPMAN ENSTONE #1134712 Report a problem
    1/31/2017Listed for rent$3,500$1/sqft
    Source: WILLIAM RAVEIS CHAPMAN ENSTONE #1134712 Report a problem
    1/24/2013Sold$616,000+5.3%$153/sqft
    Source: Public Record Report a problem
    10/31/2003Sold$585,000+9.3%$145/sqft
    Source: Public Record Report a problem
    9/18/2002Sold$535,000+109.8%$133/sqft
    Source: Public Record Report a problem
    9/14/1999Sold$255,000$63/sqft
    Source: Public Record Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2025$12,099 +5.7%$1,392,400
    2024$11,446 +34.7%$1,392,400 +57.5%
    2023$8,496 $884,100
    2022$8,496 +3%$884,100
    2021$8,249 +15%$884,100 +26.7%
    2020$7,171 +0.7%$697,600 +0.7%
    2019$7,123 +2.9%$692,900
    2018$6,922 -9%$692,900 +2.1%
    2017$7,607 +2.6%$678,600
    2016$7,417 +2.4%$678,600
    2015$7,241 +19.5%$678,600 +35.1%
    2014$6,059 +17.7%$502,400 +39.4%
    2005$5,150 $360,400
    Find assessor info on the county website

    Neighborhood: Fifth Ward

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    Estimated market value
    $1,948,300
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    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
    Estimated market value
    $1,948,300

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