Two-Unit Townhouse-Style
19 Princeton Street, Newport, RI 02840
For Sale
$1,150,000
Pending
Each residence includes private outdoor space, updated kitchens and bathrooms, and access to off-street parking.
Property Size2,392 SF
Days on Market65
Property Features for 19 Princeton Street
General Information
Standard status
Size
Property subtype
Additional Details
Road Access
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Construction
Listing Agency:
SERHANT.
Listed By:
Devin Sheehan · License RI RES.0041516
(401) 297-6231
Source:
Libbykirwin
Added: Sep 9
Changed: Nov 8
Last Checked: Nov 12 at 4:56PM
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 SERHANT.
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Investment Insights
Based on property information with market context.
This 2,392-square-foot duplex contains two side-by-side residences, each arranged across two levels with an open-concept layout. Improvements include renovated kitchens and bathrooms, replacement windows, PVC plumbing, updated electrical wiring, and a professionally waterproofed basement. Each home has its own outdoor area, with views across the backyard, and the property includes off-street parking.
Set on a dead-end street in Newport, the property is minutes from downtown, waterfront areas, beaches, restaurants, and shops. It can also be conveyed as two separate, legally subdivided condominium units.
Set on a dead-end street in Newport, the property is minutes from downtown, waterfront areas, beaches, restaurants, and shops. It can also be conveyed as two separate, legally subdivided condominium units.
Key Highlights
- 2,392‑square‑foot duplex with two side‑by‑side residences
- Each unit spans two levels and has an open‑concept layout
- Updated kitchens and bathrooms, new PVC plumbing, and full electrical rewiring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,952
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$799,040
$799.0K
Cap Rate 7%
$570,743
$570.7K
Cap Rate 9%
$443,911
$443.9K
Market Conditions
NOI Build-Up for 2,392 SF
Gross rent
$61.1K $25.56/SF
− Vacancy
−$4.1K −$1.70/SF
EGI
$57.1K $23.86/SF
− OpEx
−$17.1K −$7.16/SF
NOI
$40.0K $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%
$799,040
Cap Rate 7%
$570,743
Cap Rate 9%
$443,911
Alternative Uses
Best Use
Multifamily LT 5
$570.7K
$499.4K – $665.9K
NOI $39,952 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$507.6K
$444.1K – $592.2K
NOI $35,531 @ 7.0% cap · market cap 3.09%
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
Open Analytics
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
802
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
$669,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Newport, RI
Properties on Market for Duplexes in Newport
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes private outdoor space, updated kitchens and bathrooms, and access to off-street parking.
Where is this duplex located?
The property is located at 19 Princeton 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: 2,392‑square‑foot duplex with two side‑by‑side residences; Each unit spans two levels and has an open‑concept layout; Updated kitchens and bathrooms, new PVC plumbing, and full electrical rewiring
