SOLD OCT 15, 2025

Off Market Oct 2025 for $1.8M

$1,989,945

•

4,068

sq ft

501 Spring St, Newport, RI 02840

About this home

Large 3-family in downtown Newport. This buildings combination of size, location, parking, and rentability make it a great asset for anyone's Real Estate portfolio. This building encompases three large apartments for a total of 10 beds, 6 baths, and 6 parking spots. The 1st floor is a 3 bed 2 bath and it's kitchen is renovated. The 2nd floor is a 3 bed 2 bath and it has a renovated bathroom. The 3rd floor is a 4 bed 2 bath and it has a new granite counter top, as well as charming sky lights and exposed beams. All three apartments come with 2 parking spots, hardwood floors, and the furniture in the units. All apartments have been fully rented for the past decade and are currently rented through May 2026, making this property is perfectly positioned for investors looking to capitalize on Newports dynamic market.

Multi-familyProperty Type

1900Year Built

3,912 sq ftLot Size

$489Est. Price/Sq.Ft.

6 spacesParking

Listed by Christopher Walker • William Raveis Inspire

Listed by The Aquidneck Team • William Raveis Inspire

Bought with Christopher Walker • William Raveis Inspire

Bought with Arthur Chapman • William Raveis Inspire

Redfin checked: a minute ago

•Source:RIS #1391997

Redfin Estimate

$1,989,945

$190K since sold in October 2025$48K since July

Recently sold homes
Estimate history
Homes for sale

This home's estimate is 32.7% higher than the average sale price ($1.50M) of 6 comparable homes.

SOLD DEC 23, 2025
$1,515,000
A
5 beds4 baths2,448 sq ft
13 Dean Ave, Newport, RI 02840
SOLD MAR 3, 2026
$1,350,000
B
6 beds3 baths2,613 sq ft
27 Dean Ave, Newport, RI 02840
SOLD FEB 26, 2026
$1,725,000
C
9 beds4 baths4,573 sq ft
17 Lincoln St, Newport, RI 02840
SOLD JUL 1, 2026
$1,700,000
D
4 beds3.5 baths2,187 sq ft
4 Atlantic St, Newport, RI 02840
SOLD JUN 3, 2026
$1,300,000
E
4 beds3.5 baths2,186 sq ft
60 Prospect Hill St, Newport, RI 02840
SOLD DEC 30, 2025
$1,410,000
F
6 beds3 baths2,828 sq ft
28 Young St, Newport, RI 02840

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Earn from this home

Sell

$455,637

Est. take-home

List your home with Redfin and save $19,899

Market trends in 02840, RI

Last updated July 2026

Buyer's Market

Seller's Market

Seller's market

Sale-to-List Price

98.6%

+1.5% MoM

Median sale price

$1.0M

$58K MoM

Avg. days on market

38d

11 days MoM

Recently sold homes

7 MoM

New listings for sale

OPEN SUN, 11AM TO 1PM
$950,000
2 beds2 baths1,474 sq ft
426 Spring St Unit B101, Newport, RI 02840
NEW 29 HRS AGO
$950,000
2 beds1 bath934 sq ft
12 Mount Vernon St #4, Newport, RI 02840
NEW 31 HRS AGO
$1,275,000
2 beds2 baths1,129 sq ft
1314 Capella South #1314, Newport, RI 02840
$495,000
2 beds1 bath1,178 sq ft
125 Van Zandt Ave #201, Newport, RI 02840
OPEN SUN, 1PM TO 2:30PM
$899,000
2 beds2 baths1,062 sq ft
20 East Bowery St Unit 1A, Newport, RI 02840
$1,150,000
3 beds3 baths1,967 sq ft
126 Second St, Newport, RI 02840
OPEN SUN, 11AM TO 1PM
$1,650,000
3 beds3.5 baths1,980 sq ft
14 Barney St, Newport, RI 02840
$659,000
1 bed1 bath903 sq ft
28 Kay St #3, Newport, RI 02840
$1,595,000
4 beds2 baths1,600 sq ft
34 East Bowery St, Newport, RI 02840
$349,000
2 beds1.5 baths1,216 sq ft
66 Girard Ave #223, Newport, RI 02840
See all

Provided by Redfin

Sale history for 501 Spring St

Date

Event

Price

RIS #1391997

Oct 15, 2025

Sold

$1,800,000

$442/sq ft

Sep 23, 2025

Pending

—

Sep 5, 2025

Contingent

—

Aug 6, 2025

Listed

$1,875,000

$461/sq ft

RIS #207765

Sep 20, 2019

Price Changed

$549,000

$135/sq ft

Sep 18, 2002

Sold

$535,000

$132/sq ft

Aug 27, 2002

Listing Removed

—

Jun 6, 2002

Listed

$625,000

$154/sq ft

RIS #1026970

Jan 24, 2013

Sold

$616,000

$151/sq ft

Dec 27, 2012

Listing Removed

—

Oct 3, 2012

Listed

$639,000

$157/sq ft

+20

RIS #315150

Oct 31, 2003

Sold

$585,000

$144/sq ft

Oct 29, 2003

Listing Removed

—

Sep 17, 2003

Listed

$595,000

$146/sq ft

RIS #912102

Sep 14, 1999

Sold

$251,000

$62/sq ft

Jul 28, 1999

Listing Removed

—

Jul 19, 1999

Listed

$225,000

$55/sq ft

Year

Property tax

Land + Additions

Assessment*

2025

$12,099 (+5.7%)

$392,600 + $999,800

$1,392,400

2024

$11,446 (+30.5%)

$392,600 + $999,800

$1,392,400

2023

$8,770 (+3.2%)

$256,600 + $627,500

$884,100

2022

$8,496 (+3.0%)

$256,600 + $627,500

$884,100

2021

$8,249 (+15.0%)

$256,600 + $627,500

$884,100

2020

$7,171 (+0.7%)

$221,300 + $476,300

$697,600

2019

$7,123 (+2.9%)

$221,300 + $471,600

$692,900

2018

$6,922 (−9.0%)

$221,300 + $471,600

$692,900

2017

$7,607 (+2.6%)

$158,200 + $520,400

$678,600

2016

$7,417 (+2.4%)

$158,200 + $520,400

$678,600

2015

$7,241 (+19.5%)

$158,200 + $520,400

$678,600

2014

$6,059 (+3.0%)

$134,500 + $367,900

$502,400

2013

$5,883

$134,500 + $367,900

$502,400

Tax history for 501 Spring St

Year

Property tax

Land + Additions

Assessment*

2025

$12,099 (+5.7%)

$392,600 + $999,800

$1,392,400

2024

$11,446 (+30.5%)

$392,600 + $999,800

$1,392,400

2023

$8,770 (+3.2%)

$256,600 + $627,500

$884,100

2022

$8,496 (+3.0%)

$256,600 + $627,500

$884,100

2021

$8,249 (+15.0%)

$256,600 + $627,500

$884,100

2020

$7,171 (+0.7%)

$221,300 + $476,300

$697,600

2019

$7,123 (+2.9%)

$221,300 + $471,600

$692,900

2018

$6,922 (−9.0%)

$221,300 + $471,600

$692,900

2017

$7,607 (+2.6%)

$158,200 + $520,400

$678,600

2016

$7,417 (+2.4%)

$158,200 + $520,400

$678,600

2015

$7,241 (+19.5%)

$158,200 + $520,400

$678,600

2014

$6,059 (+3.0%)

$134,500 + $367,900

$502,400

2013

$5,883

$134,500 + $367,900

$502,400

*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.

Public record

Beds

Baths

Stories

Lot width

—

Lot depth

—

Lot size

3,920 Sq. Ft.

Year renovated

1988

Sq. Ft.

4,068

Year built

1900

Style

Multi-Family (2-4 Unit)

County

Newport County

APN

98087

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Jun 22, 2026.

Property details

Parking

Parking
Features: No Garage
# of Parking (Total): 6

Interior

Bathroom Information
# of Full Bathrooms: 6

Room Information
# of Rooms (Total): 21
Has Basement
Basement Information: Exterior Entry, Full, Interior Entry, Unfinished

Laundry Information
Features: Common Area

Fireplace Information
# of Fireplaces: 1

Equipment
Appliances: Dryer, Dishwasher, Gas Water Heater, Microwave, Oven, Oil Water Heater, Range, Refrigerator, Washer

Interior Features
Window Features: Skylight(s)
Furnished
Flooring: Hardwood
Other Features: Interior Steps, Skylights, Furnished

Multi Unit Information
# Of Units Total: 3
# Of Buildings: 1

Multi Unit Financial Information
Operating Expense: $26,588

Exterior

Building Information
Stories (Total): 3
Construction Details: Plaster, Clapboard, Shingle Siding

Lot Information
Lot Size Area: 3,912
Lot Size Acres: 0.0898
Frontage Length: 32

Property Information
Above Grade Finished Area: 4,068
Foundation Details: Stone

Financial

Assessments and Fees
Assessed Value: $1,392,400

Tax Information
Annual Tax Amount: $11,447
Tax Year: 2025

Utilities

Utility Information
Utilities: Sewer Connected
Sewer: Connected
Water Source: Connected

Heating & Cooling
Has Heating
Heating: Forced Air, Gas, Oil

Location

Community Information
Community Features: Highway Access, Marina, Near Hospital, Near Schools, Public Transportation, Recreation Area, Restaurant, Shopping, Tennis Court(s)

Public facts

Beds: 8
Baths: 6.0
Sq. Ft.: 4,068
Stories: 3.0
Lot Size: 3,920 square feet
Style: Multi-Family (2-4 Unit)
Year Built: 1900
Year Renovated: 1988
County: Newport County
APN: 98087

Home facts updated by county records on Jun 22, 2026

Around this home

Schools

Frank E. Thompson Middle School

Public 5-8 • Assigned • 1.1mi

3/10

Rogers High School

Public 9-12 • Assigned • 0.7mi

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)

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

$1.89M – $2.29M

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New listings for sale in 02840

OPEN SUN, 11AM TO 1PM

$950,000

2 beds2 baths1,474 sq ft

426 Spring St Unit B101, Newport, RI 02840

NEW 29 HRS AGO

$950,000

2 beds1 bath934 sq ft

12 Mount Vernon St #4, Newport, RI 02840

NEW 31 HRS AGO

$1,275,000

2 beds2 baths1,129 sq ft

1314 Capella South #1314, Newport, RI 02840

$495,000

2 beds1 bath1,178 sq ft

125 Van Zandt Ave #201, Newport, RI 02840

OPEN SUN, 1PM TO 2:30PM

$899,000

2 beds2 baths1,062 sq ft

20 East Bowery St Unit 1A, Newport, RI 02840

$1,150,000

3 beds3 baths1,967 sq ft

126 Second St, Newport, RI 02840

OPEN SUN, 11AM TO 1PM

$1,650,000

3 beds3.5 baths1,980 sq ft

14 Barney St, Newport, RI 02840

$659,000

1 bed1 bath903 sq ft

28 Kay St #3, Newport, RI 02840

$1,595,000

4 beds2 baths1,600 sq ft

34 East Bowery St, Newport, RI 02840

Home values near 501 Spring St

Data from public records.

Address	Redfin Estimate
495 Spring St, Newport, RI 3 Beds \| 3 Baths \| 3718 Sq. Ft.	$1,707,555
513 Spring St, Newport, RI 8 Beds \| 3 Baths \| 3686 Sq. Ft.	$1,665,282

Address	Redfin Estimate
515 Spring St, Newport, RI 4 Beds \| 2 Baths \| 1920 Sq. Ft.	$1,253,741
491 Spring St, Newport, RI 4 Beds \| 3.5 Baths \| 3363 Sq. Ft.	$2,070,364

Address	Redfin Estimate
491 Spring St, Newport, RI 4 Beds \| 2.5 Baths \| 2669 Sq. Ft.	$1,878,948
513 Spring St, Newport, RI 6 Beds \| 3 Baths \| 2745 Sq. Ft.	$1,830,020

Property information provided by RIS when last listed in 2025. This data may not match . Learn more.

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About this home

Redfin Estimate

Earn from this home

Market trends in 02840, RI

Sale history for 501 Spring St

Tax history for 501 Spring St

Public record

Property details

Around this home

Schools

Lifestyle

Climate risks

Historical weather

Sun exposure

Nearby similar homes

New listings for sale in 02840

Home values near 501 Spring St

More real estate resources