Two-Unit Historic Duplex with Private
For Sale
$1,275,000
98 John Street, Newport, RI 02840
MULTI_FAMILY - Newport, RI
Property Size2,458 SF
Lot Size0.04 Acres
Price / SF$518.71
Days on Market118
Property Features for 98 John Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Basement, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 3, Bedroom 5, Bedroom 6
Parking features
None
Window features
Insulated Windows
Interior features
Wall (Dry Wall), Wall (Plaster), Stairs, Plumbing (Mixed), Insulation (Unknown)
Basement
Storage Space, Unfinished, Full
Appliances
Gas Water Heater, Dishwasher, Dryer, Exhaust Fan, Range Hood, Oven/Range, Refrigerator, Washer
Subdivision
Historic Hill
Lot features
Local Historic District, Sidewalks
Standard status
Active
Size
2,458 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4065
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Zoned, Baseboard, Natural Gas
Amenities
laundry area
private fenced-in brick patio
Building Details
Year built
1910
Floors in Building
3
Number of units
2
Flooring type
Hardwood, Tile - Ceramic
Building materials
Dry Wall, Plaster, Clapboard, Other Siding, Shingles, Wood
Listing Agency:
Gustave White Sotheby's Realty · Sotheby's International Realty
(401) 849-3000
Listed By:
Tina Wiley
(401) 447-9609
Added: Apr 7
Changed: Aug 1
Last Checked: Aug 2 at 8:06AM
MLS# 1409173
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.
Historic Hill townhouse duplex at 98 John Street, Newport, RI, just steps to Bellevue Avenue and about two blocks to Newport Harbor. Set on a quiet, tree-lined street, the property is configured as two units with separate utilities. Both units feature tall ceilings, hardwood floors, and stained-glass windows, with large sunny rooms throughout.
The first-floor unit offers a spacious living area with large windows, a kitchen, a large bedroom, and a full bath and laundry. The second-floor unit includes two full floors of living space, an eat-in kitchen with a pantry, a south-facing living/dining area, one large bedroom, and a bath with a claw foot deep soaking tub/shower. The second-floor portion also has an additional 4 bedrooms and a full bath. A laundry area and a private fenced-in brick patio with mature landscaping complete the home.
Built in 1910, the basement is completely waterproofed, dry, and provides ample storage space. The property is served by public sewer, and heating includes natural gas with zoned forced air and baseboard systems.
The first-floor unit offers a spacious living area with large windows, a kitchen, a large bedroom, and a full bath and laundry. The second-floor unit includes two full floors of living space, an eat-in kitchen with a pantry, a south-facing living/dining area, one large bedroom, and a bath with a claw foot deep soaking tub/shower. The second-floor portion also has an additional 4 bedrooms and a full bath. A laundry area and a private fenced-in brick patio with mature landscaping complete the home.
Built in 1910, the basement is completely waterproofed, dry, and provides ample storage space. The property is served by public sewer, and heating includes natural gas with zoned forced air and baseboard systems.
Key Highlights
- Two‑unit duplex with separate utilities
- Private fenced‑in brick patio with mature landscaping
- Built in 1910
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 | $62.8k | $25.56 |
| − Vacancy | −$4.2k | −$1.70 |
| EGI | $58.6k | $23.86 |
| − OpEx | −$17.6k | −$7.16 |
| NOI | $41.1k | $16.70 |
2,458 SF · lease $25.56/SF/yr · vacancy 6.65% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$586.5K
$513.2K – $684.2K
NOI $41,054 @ 7.0% cap · market cap 3.22%
Second Best
Apartment 5plus
$521.6K
$456.4K – $608.5K
NOI $36,511 @ 7.0% cap · market cap 2.86%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,399
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex in R3 zoning with private fenced-in brick patio and separate utilities.
Where is this duplex located?
The property is located at 98 John Street Newport, RI.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Two‑unit duplex with separate utilities; Private fenced‑in brick patio with mature landscaping; Built in 1910
