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    28 John St Newport, RI 02840

    View on Map
    Sponsored
    For Sale
    $1,685,000

    MULTI_FAMILY - Newport, RI

    Lot size:
    0.04 Acres
    Days on Market:
    11
    Last Refresh:
    Mar 29 at 7:06 am

    Property Features for 28 John St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R3
    Rooms
    Basement, Bedroom 4, Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 3, Bathroom 4, Bathroom 1
    Bedrooms
    4
    Bathrooms
    4
    Parking features
    Garage
    Patio and Porch features
    Patio, Deck, Porch
    Interior features
    Wall (Cermaic), Wall (Dry Wall), Dry Bar, Stairs, Plumbing (Mixed), Insulation (Unknown)
    Exterior features
    Deck, Patio, Porch
    Fireplace
    1
    Appliances
    Gas Water Heater, Dishwasher, Dryer, Disposal, Range Hood, Microwave, Oven/Range, Refrigerator, Washer
    Lot size
    0.04 Acres

    Utilities

    Heating system
    Natural Gas, Zoned, Baseboard
    Cooling system
    Window Unit(s), Ductless

    Building Details

    Year built
    1837
    Number of units
    2
    Flooring type
    Tile - Ceramic, Marble, Hardwood
    Building materials
    Ceramic, Dry Wall, Clapboard, Wood

    We can help!

    Listing Contact
    The Chris Woodard Team

    Keller Williams Realty of Newport / East Bay / North Kingstown

    Listing agent The Dowd Team

    Listing date Mar 19, 2026

    MLS# 1406914

    Copyright © 2026 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

    Historic Colonial in Newport's Hill

    This distinguished historical Colonial, located in Newport's Historic Hill, embodies timeless elegance in one of the city's most desirable neighborhoods. The residence combines timeless character with modern comfort, presenting a unique opportunity to own a piece of Newport's history. Architectural plans are available to combine the main house with the third-floor legal apartment, expanding its potential. The first floor features an open living/dining/kitchen layout, a den, and a powder room, enhanced by recently added ductless A/C. The upstairs includes a primary suite with two closets and a private bath, along with two guest bedrooms and a full bath. The third floor offers a spacious studio apartment or an optional fourth bedroom with a kitchen and a rooftop deck that offers harbor views. A private fenced bluestone patio extends from the kitchen/dining area, ideal for entertaining. Situated within a short walk to Newport's world-class restaurants, shops, and waterfront attractions, the home is also near the city's finest beaches and the iconic Cliff Walk. The property, situated on a 0.04-acre lot, captures the opulence and elegance that defines life in the City by the Sea. It is also offered as a Single-Family property.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Newport
    State
    Rhode Island
    Longitude
    -71.311947
    Latitude
    41.48464

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    FAQs

    What type of property is this?
    Duplex - Elegant home in a sought-after neighborhood, close to attractions.
    Where is this duplex located?
    The property is located at 28 John St Newport, RI.
    What is the asking price?
    The asking price for this property is $1,685,000.
    What are key features of this property?
    This property features: - Historic Colonial in Newport's Historic Hill - highly desirable location.; - Third-floor legal apartment with rooftop deck and harbor views (potential for income or expansion).; - Open living/dining/kitchen layout with private fenced bluestone patio for entertaining.
    (401) 845-9200
    Request Owner's contact information
    28 John St 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
    28 John St Newport, RI 02840
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