Duplex with Detached
New
For Sale
$1,150,000
10 Hammond Street, Newport, RI 02840
Residential Income, Newport, RI
Property Size2,128 SF
Lot Size0.10 Acres
Price / SF$540.41
Days on Market3
Property Features for 10 Hammond Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R10
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 2, Bedroom 5, Bedroom 6, Bedroom 1, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 2
Parking
5
Interior features
Wall (Dry Wall), Plumbing (Mixed)
Fireplace
1
Basement
Full, Unfinished
Subdivision
Yachting Village
Standard status
Active
Size
2,128 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8452
Utilities
Heating system
Baseboard, Oil
Building Details
Year built
1910
Floors in Building
3
Number of units
2
Flooring type
Hardwood
Building materials
Dry Wall, Vinyl Siding
Listing Agency:
Teri Degnan Re & Consulting
(401) 619-8222
Listed By:
Timothy Dargan
(401) 345-7070
Added: Oct 7
Changed: Oct 8
Last Checked: Oct 9 at 7:06AM
MLS# 1424988
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 Newport duplex contains 2,128 square feet across two apartments on a 0.1-acre parcel. The first-floor unit has two bedrooms and one bathroom; a second apartment spans the upper two floors and includes four bedrooms and two bathrooms. The property was built in 1910 and has R10 zoning. Each residence has separate utilities and a dedicated heat system. Additional features include hardwood flooring, a fireplace, off-street parking, outdoor space, and a detached two-car garage.
The property is near Newport shops, restaurants, the waterfront, and downtown attractions. Its current two-unit layout and separate building systems remain in place, alongside the on-site parking and garage.
The property is near Newport shops, restaurants, the waterfront, and downtown attractions. Its current two-unit layout and separate building systems remain in place, alongside the on-site parking and garage.
Key Highlights
- Two apartments: a first‑floor 2‑bedroom, 1‑bath unit and an upper‑level 4‑bedroom, 2‑bath unit
- 2,128 square feet on a 0.1‑acre parcel
- Separate utilities and heating systems for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,542
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$710,840
$710.8K
Cap Rate 7%
$507,743
$507.7K
Cap Rate 9%
$394,911
$394.9K
Market Conditions
NOI Build-Up for 2,128 SF
Gross rent
$54.4K $25.56/SF
− Vacancy
−$3.6K −$1.70/SF
EGI
$50.8K $23.86/SF
− OpEx
−$15.2K −$7.16/SF
NOI
$35.5K $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%
$710,840
Cap Rate 7%
$507,743
Cap Rate 9%
$394,911
Alternative Uses
Best Use
Multifamily LT 5
$507.7K
$444.3K – $592.4K
NOI $35,542 @ 7.0% cap · market cap 3.09%
Second Best
Apartment 5plus
$451.6K
$395.1K – $526.8K
NOI $31,609 @ 7.0% cap · market cap 2.75%
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
1,147
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 - Separate utility and heating systems serve the two residences, with off-street parking and outdoor space.
Where is this duplex located?
The property is located at 10 Hammond Street Newport, RI.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Two apartments: a first‑floor 2‑bedroom, 1‑bath unit and an upper‑level 4‑bedroom, 2‑bath unit; 2,128 square feet on a 0.1‑acre parcel; Separate utilities and heating systems for each apartment
