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    24 Old Beach Rd Newport, RI 02840

    Sponsored
    For Sale
    $2,190,000

    MULTI_FAMILY - Newport, RI

    Lot size:
    0.26 Acres
    Days on Market:
    41
    Last Refresh:
    Jan 23 at 12:06 pm

    Property Features for 24 Old Beach Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R10
    Rooms
    Bathroom 5, Bedroom 8, Bathroom 1, Basement, Bedroom 7, Bedroom 1, Bedroom 6, Bathroom 4, Bathroom 7, Bathroom 2, Bedroom 4, Bedroom 10, Bathroom 3, Bedroom 5, Bedroom 3, Bedroom 9, Bedroom 2, Bathroom 6
    Bedrooms
    10
    Bathrooms
    7
    Parking
    10
    Patio and Porch features
    Porch, Patio
    Exterior features
    Patio, Porch
    Fireplace
    1
    Lot size
    0.26 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1850
    Number of units
    2
    Flooring type
    Tile - Ceramic, Hardwood
    Building materials
    Shingles, Wood

    We can help!

    Listing Contact
    Daniel Cordeiro

    Gustave White Sotheby's International Realty (401) 849-3000

    Listing agent Daniel Cordeiro (917) 748-8791

    Listing date Dec 14, 2025

    MLS# 1392182 Listing URL

    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

    Victorian Multi-Family Near Bellevue Avenue

    Located just off Bellevue Avenue, between Newport Harbor and the Atlantic Ocean at Easton's Beach, this grand 22-room Victorian is situated on a corner lot in one of Newport's best historic neighborhoods. Built circa 1850, the property is a legal 3-family used as a 2-family with a generous layout spanning over 5,000 square feet. It could function as a single-family home, an intergenerational family compound, or a flexible multi-family residence. The property showcases graceful proportions, high ceilings, and period details such as tin ceilings and decorative fireplace mantels. The first floor spans over 2,100 square feet and provides access to the garden, stone patio, and south-facing sun porch. Currently, the first floor is configured as a 3-bedroom, 3-bath apartment. The second and third floors offer treetop views and feature 7 bedrooms and 4 baths, easily configured into bedroom suites with living areas. The 0.255-acre lot accommodates a sunny backyard, a freestanding office/atelier, a 3-car garage, and 7 parking spaces. Newport's attractions, natural beauty, and everyday pleasures are located moments from the property.
    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
    -71.306379
    Latitude
    41.486887

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    FAQs

    What type of property is this?
    Duplex - Spacious Victorian with flexible layout in prime Newport location.
    Where is this duplex located?
    The property is located at 24 Old Beach Rd Newport, RI.
    What is the asking price?
    The asking price for this property is $2,190,000.
    What are key features of this property?
    This property features: - Prime location just off Bellevue Avenue, near Newport Harbor, Easton's Beach, and Cliff Walk.; - Versatile property, legally a 3-family, adaptable as a single-family home.; - Over 5,000 sq ft layout on an 11,000+ sq ft corner lot.
    (401) 849-3000
    Request Owner's contact information
    24 Old Beach Rd Newport, RI 02840
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    Newport, RI 02840
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    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
    24 Old Beach Rd Newport, RI 02840
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    We can help!
    Listing Contact
    Daniel Cordeiro
    Real Estate License ID: RES.0048435
    (401) 849-3000
    Learn more
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