27 Dean Avenue Newport

$1,499,000
6 3 2,613 sq ft

The Property

Prime Downtown Newport Investment Opportunity in the charming Yachting Village! Just steps from the waterfront, restaurants, boutiques, and historic mansion tours, this exceptional three-family property offers immediate income and outstanding future potential. The well-maintained building features three updated units, each offering 2 bedrooms and 1 bath, all currently leased with a history of annual rental performance. A rare three-car garage and off-street parking (two spaces per unit) add tremendous value in this highly walkable, in-demand location. The property is well maintained with easy-care siding, young roof, asphalt driveway, a welcoming covered front porch, spacious entry, separate electric meters, common coin-op laundry, and a shared yard with an outdoor garden area.

For investors and owner-occupants alike, the upside is compelling. Explore options to transition to seasonal rentals, or pursue future value-add opportunities such as condominium conversion, creating a spacious owner’s townhouse by combining upper floors, dormer the third floor for distant water views, convert the garage to an ADU, or seek a variance to operate a guest rental in one unit. Dean Avenue, a street experiencing revitalization with elevated renovations, this property benefits from rising neighborhood values in one of Newport’s most sought-after downtown locations. A rare opportunity to own a versatile, income-producing asset in the very heart of Newport.

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Listing Details

MLS Number

1402726

Lot Size:

0.11 acres

Features

  • Basement: Full, Interior and Exterior, Unfinished, Laundry, Storage Space, Utility
  • Hospital
  • Private School
  • Public School
  • Restaurants
  • Schools
  • Shopping
  • Near Swimming
  • Tennis
  • Porch
  • Heating: Oil, Baseboard, Forced Water
  • Heating Fuel: Oil, Baseboard, Forced Water
  • Garage: 1
  • Laundry
  • Paved Driveway
  • Sidewalks
  • Year Built: 1900
  • Water Amenities: Walk To Water

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Market Trends for Single Family Homes
in Newport

  • Overview
    Homes for Sale Today70-93.4% decrease in inventory
    New on Market *1911.8% increase in new listings
    Avg. Asking Price/Sq.Ft. *$880.57$342 increase in List Price/Sq.Ft.
    Avg. Sale Price *$1,321,501$119,740 decrease in Avg. Sale Price
    Avg. Sale Price as % of Asking Price *97.57%2.4% increase in Sales to List Price
    Avg. Sale Price/Sq.Ft. *$704.10$80 decrease in Sale Price/Sq.Ft.
    Avg. Days on Market of Sold *909 increase in days on market

    * All data is calculated based on the last 30 days

  • Avg. Sale Price
  • Avg. Days on the Market
  • New Market Inventory
  • Lila's Estimate

    Realtors Property Resource

    This is an estimate home valuation provide by RPR. It is based on RPR’s estimate market value and not an appraisal. You can use it as a starting point on the home’s value.

    ...

    Zillow

    This is an estimate home valuation provide by Zillow. It is based on Zillow’s estimate market value and not an appraisal. You can use it as a starting point on the home’s value.

    Real value?

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    Online estimates take you only so far. One of our associates can give you a market analysis of what your homes value.

Listed by Hogan Associates Christie's

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