12 Elm Street, #1, Newport, RI, 02840 | $1,275,000

Step into luxury at Unit 1 of Potter School Condominiums, located in the charming and historic Point section of Newport. This exceptional first-floor, single-level residence, once the school's auditorium, boasts its own private and dramatic entrance. Inside, an original archway with soaring 15-foot ceilings elegantly divides the living and dining areas. The largest of seven luxury units, it features central air, gas heat, and two dedicated parking spaces, with additional parking for guests. Basement storage is conveniently accessible via an elevator. The primary and guest bedrooms have been upgraded with new textured wool carpets and offer ample closet space. Each ensuite bath is outfitted with quartz vanities and marble tile flooring, adding to the home's luxurious feel. The kitchen has been beautifully updated with durable quartzite countertops and a white ceramic tile backsplash, perfect for cooking and entertaining. Additional highlights include a gas fireplace, an office nook, a half bath, and access to a shared patio area. Located just a short walk from Washington Square Park, Long Wharf Mall, Brick Market, and Elm Street Pier, this home seamlessly blends historic charm with modern sophistication in one of Newport's most desirable areas. Don't miss the opportunity to own this unique residence!

Features

  • Parking: 2-car
  • Heating: Forced Air,Gas,Hydro Air
  • Cooling: Central Air
  • Rooms: 5
  • Bedrooms: 2
  • Baths: 2 full / 1 half
  • Laundry: In Unit
  • Year Built: 1891
  • Common Charge: $685 Monthly
  • Approx Sq. Feet: 1,865
  • Est. Taxes: $6,550
  • Pets Allowed: Yes
  • Appliances: Dryer,Dishwasher,Exhaust Fan,Disposal,Gas Water Heater,Microwave,Oven,Range,Refrigerator,Tankless Water Heater,Washer
  • MLS#: 1374048
  • Website: https://www.raveis.com
    /prop/1374048/12elmstreet_newport_ri?source=qrflyer
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Listing information has been assembled from various sources of varying degrees of reliability. Any information critical to the buying decision should be independently verified.Listed by Re/Max Results   Phone: 401-848-7827

William Raveis Family of Services

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Customer Service

888.699.8876

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Whitney RuggVP, Mortgage Banker, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 7654

401.474.4879

Whitney.Rugg@raveis.com

Our Executive Mortgage Banker:

  • Is available to meet with you in our office, your home or office, evenings or weekends
  • Offers you pre-approval in minutes!
  • Provides a guaranteed closing date that meets your needs
  • Has access to hundreds of loan programs, all at competitive rates
  • Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction

Allen GellermanInsurance Sales Director, William Raveis Insurance

617.686.2668

Allen.Gellerman@raveis.com

Our Insurance Division:

  • Will Provide a home insurance quote within 24 hours
  • Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
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    Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable

12 Elm Street, #1, Newport, RI, 02840

$1,275,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Whitney Rugg

VP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 401.474.4879

Whitney.Rugg@raveis.com

NMLS Mortgage Loan Originator ID 7654

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $1,020,000 $1,020,000 $1,020,000
Term 360 months 360 months 180 months
Initial Interest Rate** 5.750% 6.500% 6.000%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 6.697% 6.597% 6.158%
Monthly Tax Payment $546 $546 $546
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $5,952 $6,447 $8,607
Total Monthly Payment $6,623 $7,118 $9,278

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.  The Total Monthly Payment does not include the estimated HOA/Common Charge payment.