Prime downtown Newport three-family ideally located between Spring and Thames Street, just steps from the waterfront, dining, and shops. Strong rental history & income growth potential. Young Street is one of the few two-way streets in this downtown neighborhood, offering added convenience for tenants. Each of the three units offers 2 bedrooms and 1 bath, with all floors currently leased, for immediate cash flow. The building has a proven rental history with current rents well below market value. This would be a perfect seasonal rental which would maximize the rental return on investment. Seperate utilites for all units including furnaces. New hard-wired smoke alarm system being installed. Off-street parking for 3 cars plus a 2+ car garage. Garage is definite ADU possibility. Close proximity to Salve Regina the harbor, and downtown attractions make this an attractive year-round or seasonal rental option. Rarely does a three-family in this location, with this level of upside potential, come to market.
Sold for $1,410,000
$1,410,000
28 Young St, Newport, RI 02840
6beds
2,405sqft
Multi Family
Built in 1885
-- sqft lot
$1,367,300 Zestimate®
$586/sqft
$3,077 Estimated rent
Home value
$1,367,300
$1.19M - $1.57M
$3,077/mo
Zestimate® history
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$6,842/mo
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Off-street parking
Zillow last checked:
Listing updated:
Listed by:
Kevan Campbell 401-556-9563,
Hogan Associates Christie's
Bought with:
Iris Zaff, RES.0019207
Lila Delman Compass
Source: StateWide MLS RI,MLS#: 1395235
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 3
- Full bathrooms: 3
Bathroom
- Features: Bath w Shower Stall
Heating
- Natural Gas, Baseboard
Cooling
- Window Unit(s)
Appliances
- Included: Electric Water Heater, Dishwasher, Dryer, Microwave, Oven/Range, Refrigerator, Washer
- Laundry: In Unit
Features
- Wall (Dry Wall), Plumbing (Mixed), Insulation (Floors), Ceiling Fan(s)
- Flooring: Vinyl, Carpet
- Basement: Full,Bulkhead,Unfinished,Utility
- Has fireplace: No
- Fireplace features: None
Interior area
- Total structure area: 2,828
- Total interior livable area: 2,405 sqft
Property
Parking
- Total spaces: 5
- Parking features: Detached
- Garage spaces: 2
Features
- Stories: 3
- Exterior features: Balcony
- Waterfront features: Walk to Salt Water, Walk To Water
Lot
- Size: 3,310 sqft
- Features: Local Historic District, Sidewalks
Details
- Parcel number: NEWPM032B0025
- Zoning: R10
- Special conditions: Conventional/Market Value
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Materials
- Dry Wall, Wood
- Foundation: Mixed
Condition
- New construction: No
- Year built: 1885
Utilities & green energy
- Electric: 100 Amp Service
- Utilities for property: Sewer Connected, Water Connected
Community & neighborhood
Community
- Community features: Near Public Transport, Hospital, Marina, Private School, Public School, Recreational Facilities, Restaurants, Schools, Near Shopping, Near Swimming, Tennis
Location
- Region: Newport
- Subdivision: Thames Spring
HOA & financial
Other financial information
- Total actual rent: 4950
Price history
| Date | Event | Price |
|---|---|---|
| 12/30/2025 | Sold | $1,410,000-0.7%$586/sqft |
Source:  StateWide MLS RI #1395235 Report a problem | ||
| 10/21/2025 | Pending sale | $1,420,000$590/sqft |
Source: StateWide MLS RI #1395235 Report a problem | ||
| 10/3/2025 | Listed for sale | $1,420,000$590/sqft |
Source: StateWide MLS RI #1395235 Report a problem | ||
| 11/16/2022 | Listed for rent | $1,400-9.7%$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 10/31/2021 | Listing removed | -- |
Source: Zillow Rental Manager Report a problem | ||
| 10/19/2021 | Listed for rent | $1,550+10.7%$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 7/30/2019 | Listing removed | $1,400$1/sqft |
Source: Hogan Associates Report a problem | ||
| 6/29/2019 | Listed for rent | $1,400+7.7%$1/sqft |
Source: Hogan Associates Report a problem | ||
| 4/19/2018 | Listing removed | $1,300$1/sqft |
Source: Hogan Associates Report a problem | ||
| 2/16/2018 | Listed for rent | $1,300$1/sqft |
Source: Hogan Associates Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $6,475 +3% | $901,800 |
| 2024 | $6,286 +12.7% | $901,800 +55.3% |
| 2023 | $5,580 | $580,600 |
| 2022 | $5,580 +3% | $580,600 |
| 2021 | $5,417 +13.4% | $580,600 +25% |
| 2020 | $4,775 | $464,500 |
| 2019 | $4,775 +2.9% | $464,500 |
| 2018 | $4,640 -0.1% | $464,500 +12.1% |
| 2017 | $4,643 +2.6% | $414,200 |
| 2016 | $4,527 +2.4% | $414,200 |
| 2015 | $4,420 +6.3% | $414,200 +20.1% |
| 2014 | $4,159 +6.2% | $344,900 |
| 2012 | $3,918 +3.5% | $344,900 -9.6% |
| 2011 | $3,787 +3.9% | $381,400 |
| 2010 | $3,646 +0.4% | $381,400 |
| 2009 | $3,631 -2% | $381,400 -10.7% |
| 2008 | $3,704 +4% | $427,200 |
| 2007 | $3,563 +4% | $427,200 |
| 2006 | $3,426 +20.7% | $427,200 +115.1% |
| 2005 | $2,838 +11.2% | $198,600 |
| 2002 | $2,552 | $198,600 |
Find assessor info on the county website
Neighborhood: Harbor/Lower Thames
Nearby schools
GreatSchools rating
- 3/10Frank E. Thompson Middle SchoolGrades: 5-8Distance: 0.7 mi
- 4/10Rogers High SchoolGrades: 9-12Distance: 1 mi
- 4/10Pell Elementary SchoolGrades: PK-4Distance: 1.9 mi
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Estimated market value
$1,367,300
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Estimated market value
$1,367,300
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