Historic Two-Unit
For Sale
$1,195,000
98 John St, Newport, RI 02840
Distinctive two-level residence with period details, separate utilities, private patio, and flexible living arrangements.
Property Size2,458 SF
Price / SF$486.17
Days on Market78
Property Features for 98 John St
General Information
Standard status
Active
Size
2,458 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR/1BA, 1 x 5BR/2BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
laundry area
private fenced-in brick patio
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Gustave White Sotheby's Realty
Listed By:
Tina Wiley
(401) 849-3000
Source:
Alpernandmesenbourg
Added: Jul 28
Changed: Sep 15
Last Checked: Oct 13 at 12:12AM
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 Gustave White Sotheby's Realty
Investment Insights
Based on property information with market context.
Built in 1910, this townhouse is arranged as two separate residential units with independent utilities. Period character includes high ceilings, hardwood flooring, stained-glass windows, and generously sized rooms with strong natural light. The first unit includes a living room, kitchen, bedroom, full bathroom, and laundry area. The second unit spans two floors, with an eat-in kitchen, pantry, living and dining space, one bedroom, bathroom, and four additional bedrooms with another full bath upstairs.
Additional features include a private fenced brick patio with mature landscaping and a waterproofed basement offering dry storage space. The property is located on John Street near Bellevue Avenue, Newport Harbor, the Cliff Walk, museums, galleries, restaurants, shopping, and historic mansions.
Additional features include a private fenced brick patio with mature landscaping and a waterproofed basement offering dry storage space. The property is located on John Street near Bellevue Avenue, Newport Harbor, the Cliff Walk, museums, galleries, restaurants, shopping, and historic mansions.
Key Highlights
- Two‑unit townhouse at 98 John St, Newport, RI 02840
- Built in 1910 with hardwood floors, stained‑glass windows, and tall ceilings
- Second unit spans two floors and includes 5 bedrooms and 2 full baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,054
Cap Rate
3.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$821,080
$821.1K
Cap Rate 7%
$586,486
$586.5K
Cap Rate 9%
$456,156
$456.2K
Market Conditions
NOI Build-Up for 2,458 SF
Gross rent
$62.8K $25.56/SF
− Vacancy
−$4.2K −$1.70/SF
EGI
$58.6K $23.86/SF
− OpEx
−$17.6K −$7.16/SF
NOI
$41.1K $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%
$821,080
Cap Rate 7%
$586,486
Cap Rate 9%
$456,156
Alternative Uses
Best Use
Multifamily LT 5
$586.5K
$513.2K – $684.2K
NOI $41,054 @ 7.0% cap · market cap 3.44%
Second Best
Apartment 5plus
$521.6K
$456.4K – $608.5K
NOI $36,511 @ 7.0% cap · market cap 3.06%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,365
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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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Distinctive two-level residence with period details, separate utilities, private patio, and flexible living arrangements.
Where is this duplex located?
The property is located at 98 John St 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: Two‑unit townhouse at 98 John St, Newport, RI 02840; Built in 1910 with hardwood floors, stained‑glass windows, and tall ceilings; Second unit spans two floors and includes 5 bedrooms and 2 full baths
