Two-Family Residential
For Sale
Under Contract
$1,225,000
15 Dennison Street, Newport, RI 02840
Residential Income, Newport, RI
Property Size2,656 SF
Lot Size0.07 Acres
Price / SF$461.22
Days on Market48
Property Features for 15 Dennison Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-10
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 3
Parking features
None
Window features
Insulated Windows
Patio and Porch features
Porch
Interior features
Wall (Plaster), Wall (Wood), Attic, Plumbing (Copper), Plumbing (Mixed), Plumbing (PEX), Insulation (Ceiling), Insulation (Walls)
Exterior features
Balcony, Porch
Basement
Full, Finished
Appliances
Dishwasher, Dryer, Range Hood, Microwave, Oven, Range, Refrigerator, Washer, Gas Water Heater
Subdivision
Yachting Village
Standard status
Active Under Contract
Size
2,656 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8116
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Electric (Heating), Baseboard, Radiant
Cooling system
Window Unit(s)
Water source
Public
Amenities
gardens
library
rear deck
radiant heated lower level floor
Building Details
Year built
1904
Floors in Building
3
Number of units
2
Flooring type
Tile - Ceramic, Hardwood
Building materials
Plaster, Wood Wall(s), Clapboard, Shingles, Wood
Listing Agency:
Hogan Associates Christie's
(401) 845-9500
Listed By:
Marlene Harrington · License #REB.0014824
(401) 862-2498
Added: Sep 12
Changed: Oct 27
Last Checked: Oct 29 at 9:06PM
MLS# 1416641
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.
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Investment Insights
Based on property information with market context.
Built in 1904, this two-family residence contains 2,656 square feet and sits on a 0.07-acre lot. The interior includes hardwood floors, a library, and a dining room with antique wood wainscoting. A rear deck faces garden grounds, and the home has three bedrooms and three bathrooms.
The lower level adds 1,175 square feet of radiant-heated concrete-floor space. The property also includes a porch, attic, window-unit cooling, and public water and sewer. Zoned R-10, the existing two-unit configuration can also be adapted for single-family use, according to the stated property information.
The lower level adds 1,175 square feet of radiant-heated concrete-floor space. The property also includes a porch, attic, window-unit cooling, and public water and sewer. Zoned R-10, the existing two-unit configuration can also be adapted for single-family use, according to the stated property information.
Key Highlights
- Two‑family residence with 2,656 square feet on a 0.07‑acre lot
- 1,175‑square‑foot lower level with radiant‑heated concrete floors
- Built in 1904; zoned R‑10
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,361
Cap Rate
3.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$887,220
$887.2K
Cap Rate 7%
$633,729
$633.7K
Cap Rate 9%
$492,900
$492.9K
Market Conditions
NOI Build-Up for 2,656 SF
Gross rent
$67.9K $25.56/SF
− Vacancy
−$4.5K −$1.70/SF
EGI
$63.4K $23.86/SF
− OpEx
−$19.0K −$7.16/SF
NOI
$44.4K $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%
$887,220
Cap Rate 7%
$633,729
Cap Rate 9%
$492,900
Alternative Uses
Best Use
Multifamily LT 5
$633.7K
$554.5K – $739.4K
NOI $44,361 @ 7.0% cap · market cap 3.62%
Second Best
Apartment 5plus
$563.6K
$493.2K – $657.5K
NOI $39,452 @ 7.0% cap · market cap 3.22%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,837
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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The second unit offers separate space for guests or a rental arrangement.
Where is this duplex located?
The property is located at 15 Dennison Street Newport, RI.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: Two‑family residence with 2,656 square feet on a 0.07‑acre lot; 1,175‑square‑foot lower level with radiant‑heated concrete floors; Built in 1904; zoned R‑10
