Two-Unit Duplex with Private
For Sale
$1,800,000
1 Pell Street, Newport, RI 02840
Residential Income, Newport, RI
Property Size5,312 SF
Lot Size0.10 Acres
Price / SF$338.86
Days on Market420
Property Features for 1 Pell Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R10
Bedrooms
7
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bedroom 3, Bedroom 5, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 6, Bathroom 3, Basement, Bathroom 4, Bathroom 5, Bedroom 4, Bathroom 2, Bedroom 7
Parking
2
Parking features
None
Interior features
Wall (Dry Wall), Wall (Plaster), Stairs, Plumbing (Mixed), Insulation (Unknown)
Basement
Storage Space, Unfinished, Full
Appliances
Dishwasher, Dryer, Oven, Range, Refrigerator, Washer
Subdivision
Kay St
Standard status
Active
Size
5,312 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
10734
Utilities
Heating system
Natural Gas
Amenities
hardwood floors
private patio
front porch
pocket doors
sun room
Building Details
Year built
1910
Floors in Building
3
Number of units
2
Flooring type
Tile - Ceramic, Hardwood
Building materials
Dry Wall, Plaster, Shingles
Listing Agency:
Teri Degnan Re & Consulting
(401) 619-8222
Listed By:
Teri Degnan
(401) 474-9191
Added: Aug 13, 2025
Changed: Sep 28
Last Checked: Oct 6 at 3:06PM
MLS# 1392084
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.
Investment Insights
Based on property information with market context.
This side-by-side duplex contains two residences, each arranged across three levels, with hardwood flooring and a private patio. The 5,312-square-foot property sits on 0.1 acres and was built in 1910. The exterior has a front porch and a fresh coat of paint. The left residence has four bedrooms and two bathrooms; the right has three bedrooms and two bathrooms, including a sun room connected to one bedroom. Both homes include living areas, kitchens, and bathrooms with soaking tubs, while the left unit also has a separate dining room and the right combines its kitchen and dining area.
Located in Newport, the property is near Bellevue Avenue and the Broadway district. Zoning is R10.
Located in Newport, the property is near Bellevue Avenue and the Broadway district. Zoning is R10.
Key Highlights
- Two side‑by‑side residences, each spanning three levels
- 5,312 square feet on a 0.1‑acre lot
- Left unit: 4 bedrooms and 2 bathrooms; right unit: 3 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,722
Cap Rate
4.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,774,440
$1.8M
Cap Rate 7%
$1,267,457
$1.3M
Cap Rate 9%
$985,800
$985.8K
Market Conditions
NOI Build-Up for 5,312 SF
Gross rent
$135.8K $25.56/SF
− Vacancy
−$9.0K −$1.70/SF
EGI
$126.7K $23.86/SF
− OpEx
−$38.0K −$7.16/SF
NOI
$88.7K $16.70/SF
Area
Newport County, RI
Vacancy
6.65%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,774,440
Cap Rate 7%
$1,267,457
Cap Rate 9%
$985,800
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.48M
NOI $88,722 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$1.13M
$986.3K – $1.32M
NOI $78,904 @ 7.0% cap · market cap 4.38%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,583
Businesses Nearby
Explore this area
Business Placement
Demographics for 02840, RI
23,902
Population
13,515
Households
1.8
Avg Household Size
40
Median Age
55%
College-Educated
95%
High-School Grad
7.3 sq mi
ZIP Area
3,274
Density / Sq Mi
$83,515
Median Household Income
$41,228
Median Earnings
$1,610
Median Rent
$669,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-level residences offer separate layouts, outdoor space, and one parking space per unit.
Where is this duplex located?
The property is located at 1 Pell Street 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 side‑by‑side residences, each spanning three levels; 5,312 square feet on a 0.1‑acre lot; Left unit: 4 bedrooms and 2 bathrooms; right unit: 3 bedrooms and 2 bathrooms
