Victorian Duplex with Third-Floor
350 Broadway, Newport, RI 02840
For Sale
$1,195,000
A separate-entry one-bedroom unit complements a three-bedroom, two-bathroom main residence.
Property Size2,413 SF
Price / SF$495.23
Days on Market51
Property Features for 350 Broadway
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
large front porch
wraparound porch
laundry room
one-car garage
off-street parking
Building Details
Year Built
Buildings
Construction
Listing Agency:
RE/MAX Results
(401) 848-7827
Listed By:
Tyler Bernadyn · License RI REB.0019892
(401) 241-1851
Source:
Lockandkeyre
Added: Sep 23
Changed: Nov 12
Last Checked: Nov 12 at 8:45AM
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 RE/MAX Results
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,413-square-foot Queen Anne Victorian, built in 1909, combines a three-bedroom, two-bathroom main residence with a separate-entry one-bedroom apartment on the third floor. The main home includes a kitchen with pantry, dining and living rooms, and a library with a gas fireplace and built-in bookcases. Hardwood flooring and period details remain throughout. A wraparound porch, one-car garage, and off-street parking are also part of the property.
Recent updates include a three-year-old roof and gutters, new windows, 200-amp electrical service, and renovated bathrooms. The property occupies a corner lot at 350 Broadway in Newport.
Recent updates include a three-year-old roof and gutters, new windows, 200-amp electrical service, and renovated bathrooms. The property occupies a corner lot at 350 Broadway in Newport.
Key Highlights
- 2,413‑square‑foot Queen Anne Victorian built in 1909
- Three‑bedroom, two‑bathroom main residence plus a separate‑entry one‑bedroom apartment
- Third‑floor apartment has its own entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,302
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$806,040
$806.0K
Cap Rate 7%
$575,743
$575.7K
Cap Rate 9%
$447,800
$447.8K
Market Conditions
NOI Build-Up for 2,413 SF
Gross rent
$61.7K $25.56/SF
− Vacancy
−$4.1K −$1.70/SF
EGI
$57.6K $23.86/SF
− OpEx
−$17.3K −$7.16/SF
NOI
$40.3K $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%
$806,040
Cap Rate 7%
$575,743
Cap Rate 9%
$447,800
Alternative Uses
Best Use
Multifamily LT 5
$575.7K
$503.8K – $671.7K
NOI $40,302 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$512.0K
$448.0K – $597.4K
NOI $35,843 @ 7.0% cap · market cap 3.00%
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
Location Intelligence
Trade Area within ½ mile
960
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
$669,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/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 - A separate-entry one-bedroom unit complements a three-bedroom, two-bathroom main residence.
Where is this duplex located?
The property is located at 350 Broadway Newport, RI.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 2,413‑square‑foot Queen Anne Victorian built in 1909; Three‑bedroom, two‑bathroom main residence plus a separate‑entry one‑bedroom apartment; Third‑floor apartment has its own entrance
