Renovated Multifamily
For Sale
$1,999,000
12 Poplar Street, Newport, RI 02840
Renovated property includes a main residence, private apartment, and detached cottage.
Property Size4,012 SF
Lot Size0.19 Acres
Price / SF$498.26
Days on Market56
Property Features for 12 Poplar Street
General Information
Standard status
Active
Size
4,012 SF
Total Parking Spaces
6
Lot size
0.19 Acres
Property subtype
Multi-Family
Units
Unit Mix
1 x 4BR/4BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
high ceilings
hardwood floors
marble countertops
walk-in pantry
enclosed front porch
cupola
large basement
landscaped grounds
Building Details
Year Built
1876
Buildings
2
Listing Agency:
Our Real Estate
Listed By:
Mara Terchunian · License #41120
(631) 902-7082
Source:
Lavonnelopes
Added: Aug 19
Changed: Oct 7
Last Checked: Oct 11 at 3:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Our Real Estate
Investment Insights
Based on property information with market context.
This renovated multifamily property combines a 4,012-square-foot main residence with additional independent living space. The primary home includes high ceilings, hardwood floors, a kitchen with top-of-the-line appliances, marble countertops, and a walk-in pantry. Its layout provides a first-floor primary suite, three upstairs bedrooms, three full baths, a second living area, a third-floor cupola, and basement storage.
A separate apartment has its own entrance, while the detached one-bedroom, one-bath cottage at 12 1/2 Poplar Street has independent heating, electric, and water. The cottage has a history of rental use and may also support guest, work, or studio functions subject to applicable regulations. The property occupies an oversized .19-acre lot with 6 off-street parking spaces and landscaped grounds. Its setting is moments from the harbor, waterfront parks, and downtown.
A separate apartment has its own entrance, while the detached one-bedroom, one-bath cottage at 12 1/2 Poplar Street has independent heating, electric, and water. The cottage has a history of rental use and may also support guest, work, or studio functions subject to applicable regulations. The property occupies an oversized .19-acre lot with 6 off-street parking spaces and landscaped grounds. Its setting is moments from the harbor, waterfront parks, and downtown.
Key Highlights
- 4,012‑square‑foot renovated main residence
- Oversized .19‑acre lot with 6 off‑street parking spaces
- Private apartment with its own entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,594
Cap Rate
2.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,191,880
$1.2M
Cap Rate 7%
$851,343
$851.3K
Cap Rate 9%
$662,156
$662.2K
Market Conditions
NOI Build-Up for 4,012 SF
Gross rent
$116.5K $29.04/SF
− Vacancy
−$8.2K −$2.03/SF
EGI
$108.4K $27.01/SF
− OpEx
−$48.8K −$12.15/SF
NOI
$59.6K $14.85/SF
Area
Newport County, RI
Vacancy
7.00%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,191,880
Cap Rate 7%
$851,343
Cap Rate 9%
$662,156
Alternative Uses
Best Use
Apartment 5plus
$851.3K
$744.9K – $993.2K
NOI $59,594 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$957.3K
$837.6K – $1.12M
NOI $67,009 @ 7.0% cap · market cap 3.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,791
Businesses Nearby
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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?
Multifamily property - Renovated property includes a main residence, private apartment, and detached cottage.
Where is this multifamily property located?
The property is located at 12 Poplar Street Newport, RI.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: 4,012‑square‑foot renovated main residence; Oversized .19‑acre lot with 6 off‑street parking spaces; Private apartment with its own entrance
