Introducing 22 Rhode Island Avenue - a captivating Victorian mixing elegance and charm. This 4, 100+ sq ft home sits on a prime acre lot in the heart of Newport, perfectly positioned between Kay Street and Broadway. Within walking distance to renowned restaurants, charming coffee shops, lush parks and with only a short bike ride to the beach, this location is unparalleled. Built in 1870, the property is defined by its striking Gable peaks, turrets, oversized windows, and inviting wraparound porch. Preserving much of its original ornate detailing, this home is rich in period character. Currently a three-family residence, it offers immense potential to be transformed back into a grand single-family estate. Unit One features a beautifully appointed living room with a decorative fireplace and access to the front wraparound porch, two bedrooms, an eat-in kitchen, and a full bath. Unit Two includes three bedrooms, a dining room, updated kitchen, and bath. Unit Three offers three additional bedrooms, the turret room, living room, new kitchen, and bath. Gorgeous inlaid hardwood and Pine floors grace the entire home. Each unit has a new high-efficiency gas heating system. The expansive backyard provides a lush retreat with many possibilities, including room for additional parking or creative outdoor enhancements. Whether you're seeking a multi-family investment or envisioning a stately single-family home, this property offers endless potential in a Newport location.
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,495,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
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 | $1,196,000 | $1,196,000 | $1,196,000 |
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 | 6.844% | 6.597% | 6.158% |
Monthly Tax Payment | $952 | $952 | $952 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $6,980 | $7,560 | $10,093 |
Total Monthly Payment | $8,057 | $8,637 | $11,170 |
* 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.