Last Sold Price
5 beds3,444 sqft$232/sqft
374 Spring StNewport, RI02840

Description

This renovated two family in the heart of downtown Newport makes a great investment. Both units have been updated with stylish decor, new kitchens and baths, in unit laundry, ductless A/C and other mechanical updates. Other features include bright rooms, tasteful paint colors throughout and hardwood floors. With proven rental history yearly and seasonally, there is great income potential if you choose to rent both units, or live in one unit and rent the other. Foundation needs repair and included...This renovated two family in the heart of downtown Newport makes a great investment. Both units have been updated with stylish decor, new kitchens and baths, in unit laundry, ductless A/C and other mechanical updates. Other features include bright rooms, tasteful paint colors throughout and hardwood floors. With proven rental history yearly and seasonally, there is great income potential if you choose to rent both units, or live in one unit and rent the other. Foundation needs repair and included in the disclosure. Structural Engineer quote to be provided upon request. Rental Info 2022:
Unit 1- Summer $5750/month Winter- $2400
Unit 2- Summer $3750/month Sept 1 to Annual Lease- $2225
Unit 1 is available to immediate move in and vacant for the summer. It is rented for winter 2022-2023. Unit 2 is fully rented until Sept 2023.
LISTING CLOSED: 06/23/2022 12:00 AM

  1. Listed by Diamandia Lingos • Brokerage DRE #REB.0019056 • Compass Real Estate, LLC
    P: (860)-617-8999 Diamandia@thecompassco.com

Property Details for 374 Spring Street

Status
MLS #
1310336
Days on Market
28
Taxes
$5,657 / year
HOA Fees
-
Condo/Co-op Fees
-
Property Type
MLS Type
Residential Income / Multi Family
Year Built
1900
Lot Size
0.06 AC / 2,687 SF
Waterfront Features
Walk To Water
Furnished
Furnished

Location

Listing Courtesy of Compass Real Estate, LLC

Sold By Compass Real Estate, LLC

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Building Information for 374 Spring Street

Stories2Residences2Year Built1900Building Size-Lot Size0.06 AC / 2,687 SF

Payment Calculator

$4,538 per month

30 year fixed, 6.55% Interest

Principal and Interest

$4,066

Property Taxes

$471

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 374 Spring Street

Summary
Location and General Information
  • City: Newport
  • Community Features: Golf, Highway Access, Marina, Near Hospital, Near Schools, Public Transportation, Recreation Area, Shopping, Tennis Courts
  • Postal City: Newport
  • Postal Code: 02840
  • State Or Province: RI
  • Zoning: R10
  • Human Modified Y N: No
Parking
  • Covered Spaces: 0
  • Garage Spaces: 0
  • Garage Y N: No
  • Parking Features: No Garage
  • Parking Total: 0
Taxes and HOA Information
  • Tax Annual Amount: $5,657.00
  • Tax Assessed Value: 606300
  • Tax Lot: 096
  • Tax Year: 2021
Property
Lot Information
  • Above Grade Fin SQFT: 3444.0
  • Building Area Total: 3444.0
  • Living Area Source: Public Records
  • Lot Features: Corner Lot
  • Lot Size Acres: 0.0617
  • Lot Size Area: 2687.0
  • Lot Size Square Feet: 2687.0
  • Lot Size Units: Square Feet
  • Number Of Buildings: 1
  • Parcel Number: 374SPRINGSTNEWP
  • Stories Total: 2
Property and Assessments
  • Buyer Financing: Conventional
  • New Construction Y N: No
  • Number Of Units Total: 2
  • Property Sub Type: Multi Family
  • Property Type: ResidentialIncome
  • Senior Community Y N: No
  • Year Built: 1900
  • C L I P: 7,646,126,847
Utilities
  • Electric: Circuit Breakers
  • Sewer: Connected
  • Utilities: Sewer Connected
  • Water Source: Connected
Interior and Exterior Features
Exterior Features
  • Exterior Features: Porch
Interior Features
  • Appliances: Dryer, Dishwasher, Electric Water Heater, Microwave, Refrigerator, Water Heater, Washer
  • Basement: Exterior Entry, Full, Interior Entry, Unfinished
  • Basement Y N: Yes
  • Bathrooms Full: 2
  • Bathrooms Half: 0
  • Bathrooms Total Integer: 2
  • Bedrooms Total: 5
  • Cooling: Ductless
  • Cooling Y N: Yes
  • Fireplaces Total: 0
  • Fireplace Y N: No
  • Flooring: Hardwood
  • Heating: Electric, Individual, Oil, Zoned
  • Heating Y N: Yes
  • Interior Features: Stall Shower, Tub Shower, Furnished
  • Laundry Features: In Unit
  • Patio And Porch Features: Porch
  • Rooms Total: 9
Multi Family
Income & Expenses Information
  • Operating Expense: $1,000.00
Unit 1 Information
  • Actual Rent: $2,225.00
  • Description: Annual Rent starting 9/5/2022
  • Unit Type Area: 952.0
  • Baths Total: 1
  • Beds Total: 2
  • Num of Full Baths: 1
  • Num of Half Baths: 0
Unit 2 Information
  • Actual Rent: $2,400.00
  • Description: Winter Rent
  • Unit Type Area: 974.0
  • Baths Total: 1
  • Beds Total: 3
  • Num of Full Baths: 1
  • Num of Half Baths: 0
Rental
Rental Information
  • Lease Amount Per Area Unit: DollarsPerSquareFoot
  • Land Lease Y N: No

Property History for 374 Spring Street

DateEvent & SourcePriceAppreciation
Jun 23, 2022

Sold (Public Record)

Public Record #1496866735

$800,000

+8.3% / yr

Jun 23, 2022

Sold

Rhode Island Association of REALTORS® #1310336

$800,000
Jun 13, 2022

Contract Signed

Rhode Island Association of REALTORS® #1310336

DateEvent & SourcePrice
06/23/2022

Sold (Public Record)

Public Record #1496866735

$800,000

+8.3% / yr

06/23/2022

Sold

Rhode Island Association of REALTORS® #1310336

$800,000
06/13/2022

Contract Signed

Rhode Island Association of REALTORS® #1310336

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 374 Spring Street

Taxable ValueLand$358,100Additions$505,400Total$863,500
Tax Record2025$6,200 ($517 / month)
Home Facts
Baths2Total Finished SqFt1,906 SqFtAbove Grade Finished SqFt1,906 SqFtStories2Lot Size2,688 SqFtStyleDuplexYear Built1900Year Renovated1997ZoningR10CountyNEWPORTAPNNEWP M:032 B:0096

Schools near 374 Spring Street

This home is within Newport School District.
Rating
School
Type
Grades
Distance
Public - PK to 4
Public - 5 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Pell Elementary School
PublicPK to 4

Frank E. Thompson Middle School
Public5 to 8

Rogers High School
Public9 to 12

Newport Area Career Tech Center
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties make no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Compass Real Estate, LLC

Based on information from one of the following Multiple Listing Services: Rhode Island Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Rhode Island Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.