3 months on rocket

75 Malbone Rd, Newport, RI, 02840

$889,000

Home List Price

$10,000*

Closing Credit

4 Bedrooms
2 Full Baths
Multi
Schools Nearby

Location

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75 Malbone Rd, Newport$889,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Contact Us Phone Number1 (855) 200-2001

Property Highlights

Home TypeMulti Family
ParkingNo Garage
Year Built1940
HeatingBaseboard, Oil
CoolingSingle Unit
BasementYes
FireplaceNone
MLS #1352865
Lot Size0.08 Acres
StatusActive

About 75 Malbone Rd

Welcome to this exceptional opportunity to own a highly desirable 2-family multi-unit property located in beautiful Newport, Rhode Island. This well-maintained gem is perfectly situated within walking distance of not only the Newport Navy base, but also Newport Hospital, making it an ideal investment opportunity. The location is also just minutes away from the vibrant downtown area, historic landmarks, world-class dining, not to mention breathtaking coastal views. The property offers two units, which both contain two bedrooms, one full bathroom and 972 square feet of space. Providing comfortable, versatile living space for new owners to enjoy. The upstairs unit features a lovely balcony area perfect to enjoy personalized outdoor space. Both units conveniently offer onsite laundry, a shared yard perfect for relaxing and additional storage space in the shared basement. The units offer convenient gas heat, keeping utility costs down for any future tenants. Currently both units are Month to Month. The current rental rates are below market value so there certainly is room for growth with the rental revenue. You will find this property has been very well cared for which you and your tenants will appreciate. Parking in Newport can certainly be a challenge, but not here. With space for up to four vehicles for your tenants. Don't miss out on this fantastic opportunity to own an investment property in Newport, RI.

Property Details

Property Features

Property Information:

  • Year Built: 1940

Listing Office:

  • Office Name: Castle Keep Realty Corp.
  • Office Phone: (401) 846-0386

Interior Features

Interior Information:

  • Appliances: Dryer, Dishwasher, Microwave, Oven, Water Heater, Range, Refrigerator, Washer
  • Basement: Yes
  • Flooring Type: Hardwood, Vinyl
  • Fireplace: None

Bedroom and Bathroom Information:

  • Full Bathrooms: 2
  • Total Bedroom Count: 4

Exterior Features

Exterior Information:

  • Exterior: Balcony, Porch, Paved Driveway

Parking Information:

  • Parking: No Garage

Lot Features

Lot Information:

  • Lot: Corner Lot
  • Lot Size: 0.08 Acres

Utilities

Utilities Information:

  • Heating: Baseboard, Oil
  • Cooling: Single Unit

School Info

Assigned Schools Information:

  • Rogers High School, Public District Grades 9-12
  • Frank E. Thompson Middle School, Public District Grades 5-8
  • Claiborne Pell Elementary School, Public District Grades PK-4

Price Information

Listing Price Info

Price Summary:

  • List Price: $889,000

Tax Information:

  • Annual Amount: $3,809
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Newport, RI.

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Newport, RI

City

Med. Sold Price

$850K

Med. Price/SqFt

$578

Avg. Days On Market

54

# of Sold Homes

19

75 Malbone Rd vs Newport

104 DAYS ON ROCKET

+50 Days

$889,000

+$39K More

KEY TAKEAWAY

This property is $39K more than the Median Sold Price in Newport, RI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: RIS
  • MLS Number: #1352865

Listing Office:

  • Office Name: Castle Keep Realty Corp.
  • Office Phone: (401) 846-0386

Disclaimer: The data relating to real estate for sale on this web site comes in part from the IDX Program of the State-Wide Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than this broker are marked with the MLS logo and detailed information about them includes the name of the listing brokers. The purchase price of housing stock as shown on this website may vary depending on factors such as fees, commissions, price negotiations, home inspection results, market conditions, etc. This website in no way warrants or represents that submitting an offer to purchase a property for the list price will result in a sale at that price. Please consult with your REALTOR® to discuss how these variations may affect your real estate transaction. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Deemed Reliable, but is neither guaranteed nor independently verified. Interested parties must make their own inquiries. Copyright © 2024 State-Wide MLS, Inc. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/29/2024, 12:20:32 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Oct 22, 2013Home Sold
$273,000
May 30, 2008Home Sold
$325,000
Jan 31, 1996Home Sold
$121,000
Oct 30, 1995Home Sold
$90,000

Tax History

YEARPROP. TAXASSESSMENT
2021$3,809$408,300
2020$3,299$320,900
2019$3,299$320,900
2018$3,206$320,900
2017$3,035$270,700

History based on county public records data.

Payment Calculator

$4,504

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,732

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-4032791
4
/10

  • Claiborne Pell Elementary School

  • 35 Dexter St

  • 0.41 miles

  • Public District Grades PK-4

Middle School

school-card-donut-4032792
3
/10

  • Frank E. Thompson Middle School

  • 55 Broadway

  • 0.78 miles

  • Public District Grades 5-8

High School

school-card-donut-4032793
3
/10

  • Rogers High School

  • 15 Wickham Rd

  • 2.53 miles

  • Public District Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $70,253. Residents of Newport, RI typically earn between $35k-100k each year. The majority of families are single, no kids. The majority of residents in this area have post secondary degree education.

All data provided by Home Junction and Claritas

Rocket Homes›Rhode Island›Newport County›Newport›02840›75 Malbone Rd

This home is located at 75 Malbone Rd in Newport, RI and zip code 02840. This home, which was built in 1940, sits on a 0.08 acre lot. Features: 4 bedrooms, 2 bathrooms. It has been listed on Rocket Homes since February 14, 2024 and is currently priced at $889,000.

In April 2024, from all listings sold in Newport, RI there were more than 8 sold above asking price, over 9 sold below and more than 2 were sold right at the asked price. The number of listings in Newport, RI increased by 13.3% between March 2024 and April 2024. The median list price of listings available in April 2024 was $850,000, while the average time on the real estate market was 54 days.

From Rocket Homes Real Estate and based on county public records data.

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