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    Two-Family Residential Property Title is generated by Realmo AI

    18 Ledge Road, Newport, RI 02840

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    New
    For Sale
    $7,200,000

    MULTI_FAMILY - Newport, RI

    Property size:
    3,400 SF
    Lot size:
    1.63 Acres
    Price / SF:
    $2,117/SF
    Added:
    Jun 4, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 5 at 1:06 pm

    Property Features for 18 Ledge Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R-60
    Bedrooms
    5
    Bathrooms
    5
    Rooms
    Bathroom 4, Bathroom 2, Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 1, Basement, Bathroom 5, Bedroom 5, Bathroom 3, Bedroom 4
    Parking
    9
    Patio and Porch features
    Patio
    Interior features
    Wall (Dry Wall), Skylight, Plumbing (Copper), Plumbing (Mixed), Insulation (Ceiling), Insulation (Walls)
    Exterior features
    Guest House, Patio
    Fireplace
    1
    Basement
    Partial, Unfinished
    Appliances
    Gas Water Heater, Dishwasher, Dryer, Exhaust Fan, Range Hood, Microwave, Oven/Range, Refrigerator, Washer
    Standard status
    Active
    Size
    3,400 SF
    Lot size
    1.63 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    13461

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard, Electric (Heating), Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1967
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Hardwood, Carpet
    Building materials
    Dry Wall, Clapboard, Wood
    Additional Structures
    Guest House

    We can help!

    Listing Contact
    Quentin Warren

    Listing agent Quentin Warren

    Listing office Gustave White Sotheby's Realty 37 Bellevue Ave, Newport, RI

    Listing date Jun 4, 2026

    MLS# 1414364 Listing URL

    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.

    HighLights

    • 1.6‑acre Ledge Road property with a legal two‑family setup: a three‑bed primary residence plus a separate two‑bed cottage
    • Guest house with patio, plus a true 2‑family configuration for flexible living options
    • Built in 1967, with central air conditioning and natural gas heating
    • Interior features include skylights and a fireplace
    • Public water and public sewer service
    • Appliances included: dishwasher, microwave, oven/range, refrigerator, washer, dryer, and gas water heater

    Overview

    Offered for the first time in 50 years, this legal two-family residential property sits on approximately 1.63 acres and includes a three-bedroom primary residence plus a separate two-bedroom cottage. The combination provides two distinct living units within one lot, offering flexibility for owner-occupants, multigenerational setups, or rental use. The property is described as set back behind green lawn and towering trees, emphasizing privacy and a park-like setting.

    Located at 18 Ledge Road in Newport, the offering is positioned behind the southernmost bend of Bellevue Avenue, with the Atlantic Ocean described as across the street. The public remarks also note proximity to Bailey’s Beach and the southwest terminus of the Cliff Walk. Zoning is listed as R-60.

    With two separate residences under one legal lot, the property may fit buyers seeking an income-capable structure while retaining a private primary home. The separate cottage configuration can also support flexible living arrangements where space and privacy are priorities. For tenants or operators interested in residential income housing, the two-unit setup provides a straightforward platform within a long-established upscale Newport neighborhood.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Hotel & Motel Department Store Cafe & Coffee Shop Bakery Bed & Breakfast Restaurant

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Newport
    State
    Rhode Island
    Longitude
    -71.307975
    Latitude
    41.456483

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    FAQs

    What type of property is this?
    Duplex - Legal two-family lot with a three-bedroom main home and a separate two-bedroom cottage on a private wooded parcel.
    Where is this duplex located?
    The property is located at 18 Ledge Road Newport, RI.
    What is the asking price?
    The asking price for this property is $7,200,000.
    What are key features of this property?
    This property features: 1.6‑acre Ledge Road property with a legal two‑family setup: a three‑bed primary residence plus a separate two‑bed cottage; Guest house with patio, plus a true 2‑family configuration for flexible living options; Built in 1967, with central air conditioning and natural gas heating
    (401) 849-3000
    We can help!
    Listing Contact
    Quentin Warren
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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