Updated Two-Family
2 Bedlow Avenue Newport, RI 02840
2 Bedlow Avenue, Newport, RI, 02840
$999,000
For Sale
Under Contract
$999,000
MULTI_FAMILY - Newport, RI
Property Size2,016 SF
Lot Size0.09 Acres
Price / SF$495.54
Days on Market47
Property Features for 2 Bedlow Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R10
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2, Basement, Bedroom 2
- Parking
- 4
- Window features
- Skylight(s)
- Patio and Porch features
- Patio
- Interior features
- Wall (Dry Wall), Attic, Plumbing (Mixed), Insulation (Walls)
- Exterior features
- Balcony, Patio
- Basement
- Unfinished, Full, Storage Space
- Appliances
- Gas Water Heater, Tankless Water Heater, Dishwasher, Dryer, Range Hood, Microwave, Oven/Range, Refrigerator, Washer
- Standard status
- Active Under Contract
- Size
- 2,016 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 6679
Utilities
- Heating system
- Baseboard, Natural Gas
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Hardwood, Tile - Ceramic
- Building materials
- Dry Wall, Clapboard, Shingles, Wood
Listing Agency
Hogan Associates Christie's
(401) 845-9500
294 Valley Road, Middletown, RI
Listed by
Jeff Brooks · License #RES.0034174
(401) 845-9500
Added: Jun 2 Checked: Jul 18 at 1:06 pm
MLS# 1411706
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.
Investment Insights
Based on property information with market context.
This well-maintained two-family residence offers two separate two-bedroom apartments. The home has been significantly updated, including newer windows, roof, heating, plumbing, and electrical systems. Additional practical features include off-street parking, a detached two-car garage, a patio area, and generous basement storage, supporting both day-to-day living and long-term value.
Situated on the North End of Newport, the property is described as just minutes from downtown, Broadway, and the Newport Bridge. The listing also highlights walkability to neighborhood favorites, making it convenient for tenants and owner-occupants who want an in-town lifestyle.
With two well-sized apartments, this property is suited to a range of buyers, including owner-occupants seeking rental income and investors looking for a turnkey residential income asset. The combination of strong recent improvements and dedicated parking/garage space may appeal to those who want flexibility without sacrificing core functional elements. The layout and updates support comfortable occupancy and can be attractive for long-term tenants as well.
Situated on the North End of Newport, the property is described as just minutes from downtown, Broadway, and the Newport Bridge. The listing also highlights walkability to neighborhood favorites, making it convenient for tenants and owner-occupants who want an in-town lifestyle.
With two well-sized apartments, this property is suited to a range of buyers, including owner-occupants seeking rental income and investors looking for a turnkey residential income asset. The combination of strong recent improvements and dedicated parking/garage space may appeal to those who want flexibility without sacrificing core functional elements. The layout and updates support comfortable occupancy and can be attractive for long-term tenants as well.
Key Highlights
- North End 2‑family built in 1920 with two 2‑bedroom apartments
- Significant updates include newer windows, roof, heating, plumbing, and electrical systems
- Natural gas baseboard heating plus tankless gas water heater
Local 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 | $51.5k | $25.56 |
| − Vacancy | −$3.4k | −$1.70 |
| EGI | $48.1k | $23.86 |
| − OpEx | −$14.4k | −$7.16 |
| NOI | $33.7k | $16.70 |
2,016 SF · lease $25.56/SF/yr · vacancy 6.65% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$481.0K
$420.9K – $561.2K
NOI $33,672 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$427.8K
$374.3K – $499.1K
NOI $29,946 @ 7.0% cap · market cap 3.00%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained two-family with substantial system updates, off-street parking, and a detached two-car garage for flexible income potential.
Where is this duplex located?
The property is located at 2 Bedlow Avenue Newport, RI.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: North End 2‑family built in 1920 with two 2‑bedroom apartments; Significant updates include newer windows, roof, heating, plumbing, and electrical systems; Natural gas baseboard heating plus tankless gas water heater
