87 Spring Street Newport

$1,850,000
7 4 2,906 sq ft

The Property

Exceptional investment property in the heart of Newport’s tourist district. 87 Spring Street is a 4-unit multifamily featuring 3 Fully City Licensed Short Term Rental units and 1 year round tenancy apartment. The licensed short-term rental units are turnkey and ready to continue generating revenue, while the long-term tenant provides reliable baseline income. Profit and Loss statements are available for review; gross projected income for 2025-2026 $203,600.

BEING SOLD as a package with 69 Spring Street (MLS #1401952) for $3,950,000. Reach out today to schedule a tour.

Read more

Contact Associate

Listing Details

MLS Number

1401961

Lot Size:

0.04 acres

Features

  • Basement: Full, Walkout, Unfinished
  • Heating: Oil, Forced Water
  • Heating Fuel: Oil, Forced Water
  • Laundry
  • Local Historic District
  • Year Built: 1898

Market Trends for Single Family Homes
in Newport

  • Overview
    Homes for Sale Today77-93% decrease in inventory
    New on Market *17-26.1% decrease in new listings
    Avg. Asking Price/Sq.Ft. *$553.70$188 decrease in List Price/Sq.Ft.
    Avg. Sale Price *$1,342,193$959,286 decrease in Avg. Sale Price
    Avg. Sale Price as % of Asking Price *95.35%0.8% increase in Sales to List Price
    Avg. Sale Price/Sq.Ft. *$705.19$264 decrease in Sale Price/Sq.Ft.
    Avg. Days on Market of Sold *9018 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?

    Contact Us

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

Listed by Kirby & Kirby

Similar Listings

Exclusively From Us To You

We invite you to join our exquisite collection of properties, latest news and events.

Thank you for subscribing!