Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1 Pell St Newport, RI 02840

    Sponsored
    For Sale
    $1,800,000

    MULTI_FAMILY - Newport, RI

    Lot size:
    0.10 Acres
    Days on Market:
    52
    Last Refresh:
    Jan 19 at 9:06 pm

    Property Features for 1 Pell St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R10
    Rooms
    Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 7, Bathroom 5, Basement, Bedroom 3, Bedroom 6, Bedroom 2, Bathroom 4, Bathroom 2, Bedroom 5
    Bedrooms
    7
    Bathrooms
    4
    Parking
    2
    Parking features
    Garage
    Interior features
    Wall (Dry Wall), Wall (Plaster), Stairs, Plumbing (Mixed), Insulation (Unknown)
    Appliances
    Dishwasher, Dryer, Oven/Range, Refrigerator, Washer
    Lot size
    0.10 Acres

    Utilities

    Heating system
    Natural Gas

    Building Details

    Year built
    1910
    Floors in Building
    3
    Number of units
    2
    Flooring type
    Hardwood, Tile - Ceramic
    Building materials
    Dry Wall, Plaster, Shingles

    We can help!

    Listing Contact
    Teri Degnan

    Teri Degnan Real Estate & Consulting, LTD (401) 474-9191 [email protected]

    Listing agent Teri Degnan (401) 474-9191

    Listing date Nov 29, 2025

    Copyright © 2025 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Newport Multifamily Home with Patios

    This side-by-side two-family home, situated off Kay St in Newport, RI, is suitable for rental income, multi-generational living, or guest accommodations. Each unit spans three levels and includes a private patio and hardwood floors. The exterior has been freshly painted and features a front porch and one parking spot for each unit. The left side residence features 4 bedrooms and 2 bathrooms. The first floor includes a living room with pocket doors, a separate dining room, and a compact kitchen with patio access. The second level offers 3 bedrooms and a full bath with a walk-in shower. The third level contains a bedroom and a bathroom with a soaking tub. The right side residence features 3 bedrooms and 2 bathrooms. The first floor features a living room with pocket doors, an open kitchen and dining area, patio access, and a half bath. The second level offers 2 bedrooms and a tiled bathroom with a walk-in shower. One bedroom has an attached sun room. The third level includes a bedroom with a walk-in closet and a bathroom with a soaking tub. The property is located close to Bellevue Ave and the Broadway district and sits on a lot of approximately 0.1 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Food Market Clothing Store Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Newport
    State
    Rhode Island
    Longitude
    -71.307422
    Latitude
    41.490585

    Nearby Similar for Sale

    • $1,400,000
      0.05 Acres

      Newport Multifamily with Conversion Potential

      Two-unit residence with a converted barn in Historic Point.
      74 3Rd St, Newport, RI 02840
      View Details
    • $1,850,000
      Pending

      Restored Two-Family Home, Newport

      Meticulously restored two-family home near Broadway and town.
      17 Lincoln St, Newport, RI 02840
      View Details
    • New
      $1,195,000
      Pending

      Historic Newport Multifamily Property

      Charming 19th-century sea captain's home in The Point neighborhood.
      23 Willow St, Newport, RI 02840
      View Details
    • $2,200,000
      0.17 Acres

      Historic Newport Mixed-Use Building

      Classic building with retail and residential units in downtown Newport.
      130 Spring St, Newport, RI 02840
      View Details
    • $1,100,000
      0.11 Acres

      Newport Multifamily Home with Charm

      Classic 1920s Newport two-family home with period details.
      1 Arnold Ave, Newport, RI 02840
      View Details
    • $3,250,000
      0.06 Acres

      Renovated Mixed-Use Building, Newport

      High-visibility mixed-use building with income potential in Newport, RI.
      491 Thames St, Newport, RI 02840
      View Details
    • New
      $1,499,000
      0.11 Acres

      Newport Three-Family Investment Opportunity

      Three updated units in prime Newport location with income potential.
      27 Dean Ave, Newport, RI 02840
      View Details
    • $1,825,000
      0.12 Acres

      Mixed-Use Property in Prime Location

      Mixed-use property with office/retail spaces and residential units.
      2 Perry St, Newport, RI 02840
      View Details
    • $1,825,000
      0.12 Acres

      Mixed-Use Property in Prime Location

      Mixed-use property with office/retail spaces and residential units.
      2 Perry St, Newport, RI 02840
      View Details
    • $2,499,000
      0.53 Acres

      Victorian Multifamily Property in Newport

      Stately Victorian with development possibilities in Newport's historic district.
      33 Kay St, Newport, RI 02840
      View Details
    • $1,800,000
      0.08 Acres

      Newport Commercial Property with Apartment

      Unique commercial property with retail space and finished apartment.
      283 Broadway Ave, Newport, RI 02840
      View Details
    • $985,000
      0.13 Acres

      Newport Duplex: Prime Coastal Location

      Well-maintained duplex in Newport's desirable 5th Ward.
      73 Old Fort Rd, Newport, RI 02840
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-family home near Bellevue Ave and Broadway district.
    Where is this duplex located?
    The property is located at 1 Pell St Newport, RI.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: - Two-family home ideal for rental income, multi-generational living, or guest accommodations.; - Each unit features 3 levels with private patios and hardwood floors.; - Left unit: 4 bedrooms, 2 bathrooms; Right unit: 3 bedrooms, 2 bathrooms.
    (401) 474-9191
    Request Owner's contact information
    1 Pell St Newport, RI 02840
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1 Pell St
    Newport, RI 02840
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1 Pell St Newport, RI 02840
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Teri Degnan
    (401) 474-9191
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.