75 Malbone Road

Newport, RI 02840

$899,000
Price
4
Beds
2
Baths
3,018 Sq. Ft.
$298 / Sq. Ft.
3,018
Sq. Ft.
$298
per Sq. Ft.

Description

Welcome to this exceptional opportunity to own a highly desirable 2-family multi-unit property located in beautiful Newport, Rhode Island. This well-maintained gem is perfectly situated within walking distance of not only the Newport Navy base, but also Newport Hospital, making it an ideal investment opportunity. The location is also just minutes away from the vibrant downtown area, historic landmarks, world-class dining, not to mention breathtaking coastal views. The property offers two units, which...Welcome to this exceptional opportunity to own a highly desirable 2-family multi-unit property located in beautiful Newport, Rhode Island. This well-maintained gem is perfectly situated within walking distance of not only the Newport Navy base, but also Newport Hospital, making it an ideal investment opportunity. The location is also just minutes away from the vibrant downtown area, historic landmarks, world-class dining, not to mention breathtaking coastal views. The property offers two units, which both contain two bedrooms, one full bathroom and 972 square feet of space. Providing comfortable, versatile living space for new owners to enjoy. The upstairs unit features a lovely balcony area perfect to enjoy personalized outdoor space. Both units conveniently offer onsite laundry, a shared yard perfect for relaxing and additional storage space in the shared basement. The units offer convenient gas heat, keeping utility costs down for any future tenants. Currently both units are filled and under lease until May of 2024. The current rental rates are below market value so there certainly is room for growth with the rental revenue. You will find this property has been very well cared for which you and your tenants will appreciate. Parking in Newport can certainly be a challenge, but not here. With space for up to four vehicles for your tenants. Don't miss out on this fantastic opportunity to own an investment property in Newport, RI.
  1. Listed by Cesar Duarte Patricio • Castle Keep Realty Corp.
    P: 401-846-0386 Cesar@Castlekeeprealtynpt.com

Amenities

  • Air Conditioning
  • Balcony
  • Baseboard Heating
  • Basement
  • Common Laundry
  • Dishwasher
  • Driveway
  • Dryer

Location

Listing Courtesy of Castle Keep Realty Corp.
Add your commute
LISTING UPDATED: 04/21/2024 01:23 PM

Property Details for 75 Malbone Road

StatusActive
MLS #1352865
Days on Market75
Taxes$3,924 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Multi Family
Year Built1940
Lot Size0.08 AC / 3,424 SF
CountyNewport County

Location

Listing Courtesy of Castle Keep Realty Corp.
Add your commute

Building Information for 75 Malbone Road

Stories3Residences2Year Built1940Building Size-Lot Size0.08 AC / 3,424 SF

Payment Calculator

$5,233 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,906

Property Taxes

$327

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 75 Malbone Road

Summary
Location and General Information
  • City: Newport
  • Community Features: Golf, Highway Access, Marina, Near Hospital, Near Schools, Public Transportation, Recreation Area, Restaurant, Shopping
  • Postal City: Newport
  • Postal Code: 02840
  • State Or Province: RI
  • Zoning: R10
  • Human Modified Y N: Yes
Parking
  • Covered Spaces: 0
  • Garage Spaces: 0
  • Garage Y N: No
  • Parking Features: No Garage
  • Parking Total: 4
Taxes and HOA Information
  • Tax Annual Amount: $3,924.00
  • Tax Assessed Value: 613600
  • Tax Lot: 093
  • Tax Year: 2023
Property
Lot Information
  • Above Grade Fin SQFT: 3018.0
  • Building Area Total: 3018.0
  • Living Area Source: Public Records
  • Lot Features: Corner Lot
  • Lot Size Acres: 0.0786
  • Lot Size Area: 3424.0
  • Lot Size Square Feet: 3424.0
  • Lot Size Units: Square Feet
  • Number Of Buildings: 1
  • Parcel Number: 75MALBONERDNEWP
  • Stories Total: 3
Property and Assessments
  • New Construction Y N: No
  • Number Of Units Total: 2
  • Property Sub Type: Multi Family
  • Property Type: Residential Income
  • Senior Community Y N: No
  • Year Built: 1940
  • C L I P: 3,826,393,783
Utilities
  • Electric: Item200Amp Service
  • Sewer: Connected
  • Utilities: Sewer Connected
  • Water Source: Connected
Interior and Exterior Features
Exterior Features
  • Exterior Features: Balcony, Porch, Paved Driveway
  • Foundation Details: Concrete Perimeter
Interior Features
  • Appliances: Dryer, Dishwasher, Microwave, Oven, Oil Water Heater, Range, Refrigerator, Washer
  • Basement: Full, Interior Entry, Unfinished
  • Basement Y N: Yes
  • Bathrooms Full: 2
  • Bathrooms Half: 0
  • Bathrooms Total Integer: 2
  • Bedrooms Total: 4
  • Cooling: 1 Unit
  • Cooling Y N: Yes
  • Fireplace Features: None
  • Fireplaces Total: 0
  • Fireplace Y N: No
  • Flooring: Hardwood, Vinyl
  • Heating: Baseboard, Oil
  • Heating Y N: Yes
  • Laundry Features: Common Area
  • Patio And Porch Features: Balcony, Porch
  • Rooms Total: 10
Multi Family
Income & Expenses Information
  • Operating Expense: $.00
Unit 1 Information
  • Actual Rent: $1,700.00
  • Description: Lease ends May 2024
  • Type: Item2Bedroom
  • Unit Type Area: 972.0
  • Baths Total: 1
  • Beds Total: 2
  • Num of Full Baths: 1
  • Num of Half Baths: 0
Unit 2 Information
  • Actual Rent: $1,800.00
  • Description: Lease ends May 2024
  • Type: Item2Bedroom
  • Unit Type Area: 972.0
  • Baths Total: 1
  • Beds Total: 2
  • 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 75 Malbone Road

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 75 Malbone Road

Taxable ValueLand$116,200Additions$292,100Total$408,300
Tax Record2023$4,050 ($338 / month)
Home Facts
Baths2Total Finished SqFt1,944 SqFtAbove Grade Finished SqFt1,944 SqFtStories2Lot Size3,424 SqFtStyleDuplexYear Built1940Year Renovated1987ZoningR10CountyNEWPORTAPNNEWP M:007 B:0093

Schools near 75 Malbone Road

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.

Similar Homes

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75 Malbone Road is a multi-family home for sale in Newport, RI 02840. This property was listed for sale on February 14, 2024 by Castle Keep Realty Corp., it's currently listed at $899,000. It has been on the market for a total of 75 days and was last sold on October 22, 2013. This listing's school district is Newport School District. Nearby schools include Pell Elementary School, Frank E. Thompson Middle School and Rogers High School. 75 Malbone Road is a 4-bed, 2-bath, 3,018 sqft multi-family home built in 1940.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Castle Keep Realty Corp.

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.