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.
Sold for $1,800,000
$1,800,000
501 Spring St, Newport, RI 02840
10beds
4,026sqft
Multi Family
Built in 1900
-- sqft lot
$1,922,700 Zestimate®
$447/sqft
$4,486 Estimated rent
Home value
$1,922,700
$1.69M - $2.17M
$4,486/mo
Zestimate® history
Owner options
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$4,486/mo
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$4,486/mo
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$8,735/mo
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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#: 1391997
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 sqft
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 & neighborhood
Community
- Community features: Near Public Transport, Highway Access, Hospital, Marina, Private School, Public School, Recreational Facilities, Restaurants, Schools, Near Shopping, Near Swimming, Tennis
Location
- Region: Newport
- Subdivision: Yachting Village
HOA & financial
Other financial information
- Total actual rent: 10437
Price history
| Date | Event | Price |
|---|---|---|
| 5/27/2026 | Listing removed | $3,200$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 2/17/2026 | Price change | $3,200-8.6%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 10/15/2025 | Sold | $1,800,000-4%$447/sqft |
Source:  StateWide MLS RI #1391997 Report a problem | ||
| 9/23/2025 | Pending sale | $1,875,000$466/sqft |
Source: StateWide MLS RI #1391997 Report a problem | ||
| 9/5/2025 | Contingent | $1,875,000$466/sqft |
Source: StateWide MLS RI #1391997 Report a problem | ||
| 8/15/2025 | Listed for rent | $3,500-44.7%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 8/6/2025 | Listed for sale | $1,875,000+204.4%$466/sqft |
Source: StateWide MLS RI #1391997 Report a problem | ||
| 5/5/2025 | Listing removed | $6,334$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 11/20/2024 | Listed for rent | $6,334$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 11/12/2024 | Listing removed | $6,334$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 10/28/2024 | Price change | $6,334+104.3%$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 8/3/2024 | Listed for rent | $3,100-48.3%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 5/8/2024 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 2/29/2024 | Price change | $6,000-5.3%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 10/8/2023 | Price change | $6,334+111.1%$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 9/10/2023 | Listed for rent | $3,000-50%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 3/23/2023 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 3/1/2023 | Price change | $6,000-10%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 1/4/2023 | Price change | $6,667+129.9%$2/sqft |
Source: Zillow Rentals Report a problem | ||
| 9/9/2022 | Listed for rent | $2,900-42%$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 6/20/2022 | Listing removed | -- |
Source: Zillow Rental Manager Report a problem | ||
| 6/6/2022 | Listed for rent | $5,000+127.3%$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 9/4/2019 | Listing removed | $2,200$1/sqft |
Source: WILLIAM RAVEIS CHAPMAN ENSTONE #1233883 Report a problem | ||
| 9/2/2019 | Listed for rent | $2,200-37.1%$1/sqft |
Source: WILLIAM RAVEIS CHAPMAN ENSTONE #1233883 Report a problem | ||
| 2/8/2017 | Listing removed | $3,500$1/sqft |
Source: WILLIAM RAVEIS CHAPMAN ENSTONE #1134712 Report a problem | ||
| 1/31/2017 | Listed for rent | $3,500$1/sqft |
Source: WILLIAM RAVEIS CHAPMAN ENSTONE #1134712 Report a problem | ||
| 1/24/2013 | Sold | $616,000+5.3%$153/sqft |
Source: Public Record Report a problem | ||
| 10/31/2003 | Sold | $585,000+9.3%$145/sqft |
Source: Public Record Report a problem | ||
| 9/18/2002 | Sold | $535,000+109.8%$133/sqft |
Source: Public Record Report a problem | ||
| 9/14/1999 | Sold | $255,000$63/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax 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
Nearby schools
GreatSchools rating
- 3/10Frank E. Thompson Middle SchoolGrades: 5-8Distance: 1.1 mi
- 4/10Rogers High SchoolGrades: 9-12Distance: 0.8 mi
- 4/10Pell Elementary SchoolGrades: PK-4Distance: 2.2 mi
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Estimated market value
$1,922,700
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Estimated market value
$1,922,700
- Rhode Island
- Newport County
- Newport
- 02840
- Fifth Ward
- 501 Spring St
Nearby cities
Nearby neighborhoods
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