8-Bedroom Multifamily
For Sale
$1,860,000
34 Bull Street, Newport, RI 02840
The layout includes three full bathrooms and space for multiple household arrangements.
Property Size3,550 SF
Price / SF$523.94
Days on Market158
Property Features for 34 Bull Street
General Information
Standard status
Active
Size
3,550 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$10,684
Building Details
Building Size
3,550 SF
Year Built
1895
Listing Agency:
William Raveis Inspire
Listed By:
The Aquidneck Team
(401) 640-0807
Source:
Baker21
Added: May 26
Changed: Oct 26
Last Checked: Oct 26 at 2:19PM
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 William Raveis Inspire
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Investment Insights
Based on property information with market context.
This 3,550-square-foot multifamily property has eight bedrooms and three full bathrooms, with a layout that can accommodate varied residential arrangements. Built in 1895, it is located at 34 Bull Street in Newport, Rhode Island.
The property is within walking distance of downtown Newport, restaurants, waterfront attractions, and local amenities. The combination of bedroom count and location supports a range of residential and rental configurations.
The property is within walking distance of downtown Newport, restaurants, waterfront attractions, and local amenities. The combination of bedroom count and location supports a range of residential and rental configurations.
Key Highlights
- Eight bedrooms and three full bathrooms
- 3,550 square feet of interior space
- Built in 1895
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,732
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,054,640
$1.1M
Cap Rate 7%
$753,314
$753.3K
Cap Rate 9%
$585,911
$585.9K
Market Conditions
NOI Build-Up for 3,550 SF
Gross rent
$103.1K $29.04/SF
− Vacancy
−$7.2K −$2.03/SF
EGI
$95.9K $27.01/SF
− OpEx
−$43.1K −$12.15/SF
NOI
$52.7K $14.85/SF
Area
Newport County, RI
Vacancy
7.00%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,054,640
Cap Rate 7%
$753,314
Cap Rate 9%
$585,911
Alternative Uses
Best Use
Apartment 5plus
$753.3K
$659.2K – $878.9K
NOI $52,732 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$847.0K
$741.2K – $988.2K
NOI $59,293 @ 7.0% cap · market cap 3.19%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
2,583
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - The layout includes three full bathrooms and space for multiple household arrangements.
Where is this multifamily property located?
The property is located at 34 Bull Street Newport, RI.
What is the asking price?
The asking price for this property is $1,860,000.
What are key features of this property?
This property features: Eight bedrooms and three full bathrooms; 3,550 square feet of interior space; Built in 1895
