Great investment or owner occupied opportunity! Large 3 family home centrally located in downtown Newport. This home has strong rental history, water views, a fenced yard, tons of natural light, CENTRAL A/C, gas heat, and much more!
Multi-familyProperty Type
1900Year Built
2,178 sq ftLot Size
$367Est. Price/Sq.Ft.
Listed by Sean Lawrence• HomeSmart Professionals
Bought with Bill Sizeland• RE/MAX Profnl. Newport, Inc.
The lowest price 3 family home in the downtown section of Newport. Rents bring in $3499.00 per month!!! This one can be a big money maker. Great opportunity for the investor looking to own in Downtown close to waterfront, shopping, and marinas.
Year
Property tax
Land + Additions
Assessment*
2025
$8,402 (+3.0%)
$345,000 + $825,200
$1,170,200
2024
$8,156 (+10.0%)
$345,000 + $825,200
$1,170,200
2023
$7,416 (+3.2%)
$225,500 + $522,100
$747,600
2022
$7,184 (+3.0%)
$225,500 + $522,100
$747,600
2021
$6,975 (+47.2%)
$225,500 + $522,100
$747,600
2020
$4,737
$217,500 + $243,300
$460,800
2019
$4,737 (+2.9%)
$217,500 + $243,300
$460,800
2018
$4,603 (+4.3%)
$217,500 + $243,300
$460,800
2017
$4,413 (+2.6%)
$155,500 + $238,200
$393,700
2016
$4,303 (+2.4%)
$155,500 + $238,200
$393,700
2015
$4,201 (+8.0%)
$155,500 + $238,200
$393,700
2014
$3,891 (+3.0%)
$132,200 + $190,400
$322,600
2013
$3,778 (+3.1%)
$132,200 + $190,400
$322,600
2012
$3,665
$132,200 + $190,400
$322,600
Tax history for 342 Spring St
Year
Property tax
Land + Additions
Assessment*
2025
$8,402 (+3.0%)
$345,000 + $825,200
$1,170,200
2024
$8,156 (+10.0%)
$345,000 + $825,200
$1,170,200
2023
$7,416 (+3.2%)
$225,500 + $522,100
$747,600
2022
$7,184 (+3.0%)
$225,500 + $522,100
$747,600
2021
$6,975 (+47.2%)
$225,500 + $522,100
$747,600
2020
$4,737
$217,500 + $243,300
$460,800
2019
$4,737 (+2.9%)
$217,500 + $243,300
$460,800
2018
$4,603 (+4.3%)
$217,500 + $243,300
$460,800
2017
$4,413 (+2.6%)
$155,500 + $238,200
$393,700
2016
$4,303 (+2.4%)
$155,500 + $238,200
$393,700
2015
$4,201 (+8.0%)
$155,500 + $238,200
$393,700
2014
$3,891 (+3.0%)
$132,200 + $190,400
$322,600
2013
$3,778 (+3.1%)
$132,200 + $190,400
$322,600
2012
$3,665
$132,200 + $190,400
$322,600
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Beds
5
Baths
3
Stories
3
Lot width
—
Lot depth
—
Lot size
2,178 Sq. Ft.
Year renovated
2010
Sq. Ft.
2,662
Year built
1900
Style
Multi-Family (2-4 Unit)
County
Newport County
APN
98600
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jun 22, 2026.
Property details
Parking
Parking
Features: No Garage
Interior
Bathroom Information
# of Full Bathrooms: 4
Room Information
# of Rooms (Total): 19
Has Basement
Basement Information: Crawl Space, Unfinished
Laundry Information
Features: In Unit
Equipment
Appliances: Dryer, Dishwasher, Electric Water Heater, Gas Water Heater, Oven, Range, Refrigerator, Water Heater, Washer
Interior Features
Flooring: Carpet, Hardwood
Other Features: Tub Shower
Multi Unit Information
# Of Units Total: 3
# Of Buildings: 1
Multi Unit Financial Information
Operating Expense: $1,200
Exterior
Building Information
Stories (Total): 3
Construction Details: Drywall, Vinyl Siding
Exterior Features
Fencing: Fenced
Lot Information
Lot Size Area: 2,178
Lot Size Acres: 0.05
Waterfront Features: Walk to Water
Zoning: R10
Property Information
Has View
Above Grade Finished Area: 4,327
Financial
Assessments and Fees
Assessed Value: $460,800
Tax Information
Annual Tax Amount: $4,670
Tax Year: 2019
Utilities
Utility Information
Utilities: Sewer Connected
Electic On Property
Electric: 100 Amp Service
Sewer: Connected
Water Source: Connected
Heating & Cooling
Has Cooling
Cooling: Central Air
Has Heating
Heating: Gas
Location
Community Information
Community Features: Marina, Shopping, Tennis Court(s), Sidewalks
Public facts
Beds: 5
Baths: 3.0
Sq. Ft.: 2,662
Stories: 3.0
Lot Size: 2,178 square feet
Style: Multi-Family (2-4 Unit)
Year Built: 1900
Year Renovated: 2010
County: Newport County
APN: 98600
Home facts updated by county records on Jun 22, 2026
Around this home
Schools
Frank E. Thompson Middle School
Public 5-8 • Assigned • 0.7mi
3/10
Rogers High School
Public 9-12 • Assigned • 1.0mi
4/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
6/10 Heat Factor
7 days above 90° expected this year, 17 days in 30 years
8/10 Wind Factor
80% chance of strong winds in next 30 years
2/10 Air Factor
2 unhealthy days expected this year, 2 days in 30 years
Provided by First Street
Historical weather
Newport, RI • 02840
Average low and high temperatures (°F)
36
25
37
26
47
35
55
43
63
52
74
62
77
68
75
64
71
60
63
52
54
42
42
30
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 9 hours in
June and 4.6 hours in December, which is comparable to the
U.S. average for solar exposure.
9 hrs
4.6 hrs
JuneDecember
Provided by Shadowmap
Estimated sale price
$1.51M – $1.83M
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