Legal Two-Family
15 Ayrault Street Newport, RI 02840
For Sale
$1,675,000
Pending
Legal two-family home with first-floor two-bedroom, two-bath suite and an upper four-bedroom, three-bath apartment.
Property Size3,505 SF
Days on Market16
Property Features for 15 Ayrault Street
General Information
- Standard status
- Pending
- Size
- 3,505 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1880
Listing Agency:
Hogan Associates Christie's
(401) 680-6588
Listed By:
Kol Naylor
Source:
Lockandkeyre
Added: Jul 9
Changed: Jul 20
Last Checked: Jul 23 at 5:38AM
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 Hogan Associates Christie's
Investment Insights
Based on property information with market context.
This legal two-family residence offers a total of 15 rooms across more than 3,500 square feet. The primary first-floor unit includes two bedrooms with two en suite full baths. The upper apartment provides four bedrooms and three bathrooms over two floors, supporting flexible living arrangements.
Recent enhancements include a new gas furnace, water heater, and dishwasher, while historic Victorian details remain intact. Interior character features include oversized moldings, the original main stairway, custom kitchen cabinetry and island, and stainless steel appliances.
Set on a lot exceeding 7,700 square feet with privacy hedges, the property includes an expansive rear yard with stone hardscaping, a grilling area, an oversized storage shed, and parking for up to five vehicles. The home is centrally located in Newport near the Bellevue Avenue and Broadway districts, with Newport Harbor within walking distance.
Recent enhancements include a new gas furnace, water heater, and dishwasher, while historic Victorian details remain intact. Interior character features include oversized moldings, the original main stairway, custom kitchen cabinetry and island, and stainless steel appliances.
Set on a lot exceeding 7,700 square feet with privacy hedges, the property includes an expansive rear yard with stone hardscaping, a grilling area, an oversized storage shed, and parking for up to five vehicles. The home is centrally located in Newport near the Bellevue Avenue and Broadway districts, with Newport Harbor within walking distance.
Key Highlights
- Legal two‑family home built in 1880 with 15 rooms and 3,500+ SF.
- First‑floor unit: 2 bedrooms with 2 en suite full baths.
- Upper apartment: 4 bedrooms and 3 bathrooms across two floors.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $89.6k | $25.56 |
| − Vacancy | −$6.0k | −$1.70 |
| EGI | $83.6k | $23.86 |
| − OpEx | −$25.1k | −$7.16 |
| NOI | $58.5k | $16.70 |
3,505 SF · lease $25.56/SF/yr · vacancy 6.65% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$836.3K
$731.8K – $975.7K
NOI $58,541 @ 7.0% cap · market cap 3.49%
Second Best
Apartment 5plus
$743.8K
$650.8K – $867.7K
NOI $52,063 @ 7.0% cap · market cap 3.11%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Legal two-family home with first-floor two-bedroom, two-bath suite and an upper four-bedroom, three-bath apartment.
Where is this duplex located?
The property is located at 15 Ayrault Street Newport, RI.
What is the asking price?
The asking price for this property is $1,675,000.
What are key features of this property?
This property features: Legal two‑family home built in 1880 with 15 rooms and 3,500+ SF.; First‑floor unit: 2 bedrooms with 2 en suite full baths.; Upper apartment: 4 bedrooms and 3 bathrooms across two floors.
