501 Spring St
Newport, RI 02840
Fifth Ward
10 Beds
6 Baths
4,026 sqft
$1,800,000
Last Sold: Oct 15, 2025
4% below list $1.88M
$447/sqft
$1,800,000
Last Sold: Oct 15, 2025
4% below list $1.88M
$447/sqft
10 Beds
6 Baths
4,026 sqft
Local Information
- Map ViewExplore the area around 501 Spring St.
- Schools1 Preschool School2 Elementary Schools1 Middle School1 High School
- Shop & Eat
-- mins to
Description
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.
501 Spring St, Newport, RI 02840 is a 10 bedroom, 6 bathroom, 4,026 sqft multi-family in Fifth Ward, built in 1900. It last sold for $1,800,000 on Oct 15, 2025 (4% below the $1,875,000 asking price). More recently, it was listed as a rental in August 2025 with an asking price of $3,500 per month. That rental listing was removed on May 27, 2026. It is currently off market. The Trulia Estimate is $1,959,100, with a rent estimate of $4,486/month.
Home Highlights
Parking
6 Parking Spaces
Outdoor
No Info
A/C
Heating only
HOA
None
Price/Sqft
$447/sqft
Listed
180+ days ago
Home Details for 501 Spring St
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Interior Details Basement: Full,Interior and Exterior,UnfinishedNumber of Rooms: 21 |
Beds & Baths Number of Bedrooms: 10Number of Bathrooms: 6Number of Bathrooms (full): 6 |
Dimensions and Layout Living Area: 4026 Square Feet |
Appliances & Utilities Utilities: Sewer Connected, Water ConnectedAppliances: Gas Water Heater, Dishwasher, Dryer, Microwave, Oven/Range, Refrigerator, WasherDishwasherDryerLaundry: In BuildingMicrowaveRefrigeratorWasher |
Heating & Cooling Heating: Natural Gas,Oil,Forced AirNo CoolingAir Conditioning: NoneHas HeatingHeating Fuel: Natural Gas |
Fireplace & Spa Number of Fireplaces: 1Fireplace: NoneHas a Fireplace |
Gas & Electric Electric: 100 Amp Service |
Windows, Doors, Floors & Walls Window: Skylight(s)Flooring: Hardwood |
Levels, Entrance, & Accessibility Stories: 3Floors: Hardwood |
View No View |
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Exterior Home Features Foundation: StoneSkylight |
Parking & Garage No CarportNo GarageNo Attached GarageParking Spaces: 6Parking: No Garage |
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Year Built Year Built: 1900 |
Property Type / Style Property Type: Residential IncomeProperty Subtype: Multi FamilyStructure Type: Up/DownArchitecture: Up/Down |
Building Construction Materials: Plaster, Clapboard, ShinglesNot a New ConstructionAttached To Another Structure |
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Price List Price: $1,875,000Price Per Sqft: $447/sqft |
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MLS Status: Sold |
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Direction & Address City: NewportCommunity: Yachting Village |
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Building Area Building Area: 4068 Square Feet |
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Community Features: Near Public Transport, Highway Access, Hospital, Marina, Private School, Public School, Recreational Facilities, Restaurants, Schools, Near Shopping, Near Swimming, TennisNot Senior Community |
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No HOA |
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Lot Area: 3911.688 sqft |
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Special Conditions: Conventional/Market Value |
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BasementMls Number: 1391997 |
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Near Public TransportHighway AccessHospitalMarinaPrivate SchoolPublic SchoolRecreational FacilitiesRestaurantsSchoolsNear ShoppingNear SwimmingTennis |
Last check for updates: about 1 hour ago
Listed by Christopher Walker, (401) 207-3970
William Raveis Inspire
The Aquidneck Team, (401) 640-0807
William Raveis Inspire
Bought with: Christopher Walker, (401) 207-3970, William Raveis Inspire
Co-Buyer's Agent: Arthur Chapman, (401) 640-0807, William Raveis Inspire
Source: StateWide MLS RI, MLS#1391997
Price History for 501 Spring St
| Date | Price | Event | Source |
|---|---|---|---|
| 05/27/2026 | $3,200 | ListingRemoved | Zillow Rentals |
| 02/17/2026 | $3,200 | PriceChange | Zillow Rentals |
| 10/15/2025 | $1,800,000 | Sold | StateWide MLS RI #1391997 |
| 09/23/2025 | $1,875,000 | Pending | StateWide MLS RI #1391997 |
| 09/05/2025 | $1,875,000 | Contingent | StateWide MLS RI #1391997 |
| 08/15/2025 | $3,500 | Listed For Rent | Zillow Rentals |
| 08/06/2025 | $1,875,000 | Listed For Sale | StateWide MLS RI #1391997 |
| 05/05/2025 | $6,334 | ListingRemoved | Zillow Rentals |
| 11/20/2024 | $6,334 | Listed For Rent | Zillow Rentals |
| 11/12/2024 | $6,334 | ListingRemoved | Zillow Rentals |
| 10/28/2024 | $6,334 | PriceChange | Zillow Rentals |
| 08/03/2024 | $3,100 | Listed For Rent | Zillow Rentals |
| 05/08/2024 | ListingRemoved | Zillow Rentals | |
| 02/29/2024 | $6,000 | PriceChange | Zillow Rentals |
| 10/08/2023 | $6,334 | PriceChange | Zillow Rentals |
| 09/10/2023 | $3,000 | Listed For Rent | Zillow Rentals |
| 03/23/2023 | ListingRemoved | Zillow Rentals | |
| 03/01/2023 | $6,000 | PriceChange | Zillow Rentals |
| 01/04/2023 | $6,667 | PriceChange | Zillow Rentals |
| 09/09/2022 | $2,900 | Listed For Rent | Zillow Rental Manager |
| 06/20/2022 | ListingRemoved | Zillow Rental Manager | |
| 06/06/2022 | $5,000 | Listed For Rent | Zillow Rental Manager |
| 09/04/2019 | $2,200 | ListingRemoved | Agent Provided |
| 09/02/2019 | $2,200 | Listed For Rent | Agent Provided |
| 02/08/2017 | $3,500 | ListingRemoved | Agent Provided |
| 01/31/2017 | $3,500 | Listed For Rent | Agent Provided |
| 01/24/2013 | $616,000 | Sold | N/A |
| 10/31/2003 | $585,000 | Sold | N/A |
| 09/18/2002 | $535,000 | Sold | N/A |
| 09/14/1999 | $255,000 | Sold | N/A |
Market trends in Newport
Last updated May 2026
Avg. sale price
$937K
$12.5KMoM
Sale-to-List Price
—
Price per sq ft
$624
$36MoM
Available listings
76
8MoM
- Results are loading
Property Tax and Assessment
| Year | 2025 |
|---|---|
| Tax | $12,099 |
| Assessment | $1,392,400 |
Home facts updated by county records
Comparable Sales for 501 Spring St
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.14 | Multi-Family Home | $1,515,000 | 12/23/25 | 5 | 4 | 2,452 | |
0.12 | Multi-Family Home | $1,875,000 | 03/23/26 | 5 | 3.5 | 2,631 | |
0.23 | Multi-Family Home | $1,350,000 | 08/26/25 | 8 | 3 | 4,079 | |
0.11 | Multi-Family Home | $1,350,000 | 03/03/26 | 6 | 3 | 2,736 | |
0.46 | Multi-Family Home | $1,845,000 | 09/30/25 | 6 | 4 | 4,192 | |
0.38 | Multi-Family Home | $1,410,000 | 12/30/25 | 6 | 3 | 2,405 | |
0.33 | Multi-Family Home | $1,350,000 | 04/17/26 | 4 | 3 | 2,004 | |
0.26 | Multi-Family Home | $1,342,000 | 04/19/26 | 4 | 2 | 2,824 |
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Assigned Schools
These are the assigned schools for 501 Spring St.
- Frank E. Thompson Middle School
- 5-8
- Public
- 516 Students
3/10GreatSchools RatingParent Rating AverageAs a military family moving around every two to three years I didn't let the 4 rating of this school sway my decision to have my daughter attend her 6th grade yr at TMS as I had herd a few positives none the less. I had high hopes for this school, but from the beginning it's been one disappoint after another. Never in all the schools my daughter has attended has she ever come home with more disappointing and discouraging feedback about some of the 6th grade teachers. Stories of teachers being in bad moods, not allowing kids to go to the bathroom, one teacher even giving her opinion about my daughters top, stating in the hall way, "I don't like your shirt." I can't imagine the stress teachers go through, but at TMS they seem to reflect it in the classroom. Hard for kids to have a positive attitude when the teachers don't even have one. We've had to addresses other concerns at this school some of which were handled okay, but for the most part, I would not recommend this school to any new families coming to Newport.Parent Review11y ago - Rogers High School
- 9-12
- Public
- 633 Students
4/10GreatSchools RatingParent Rating AverageI have two children in the Newport Public Schools - I could not imagine sending them anywhere else. The diversity among the student body is such an asset. I am so happy that my children are able to attend a school that is a representation of the world. The teachers are fantastic. They really care about the students. The available courses is astounding - from AP Literature, AP math and sciences, multiple AP history courses, dual enrollment course, an amazing array of choices in vocational classes as well- there is really something for all. My children are able to take AP and dual enrollment courses at the same time as taking challenging, hands-on computer and graphics courses. Amazing!!!Parent Review4y ago - Pell Elementary School
- PK-4
- Public
- 716 Students
4/10GreatSchools RatingParent Rating AverageIn January 2021 I yanked my children out of Pell which they despised. I transferred them to another public school system which involves 100 miles of driving per day and $6k/yr/kid. It is well worth the time and money as the kids literally run from the car to be the first in line every morning.why would a parent want to send their child to Pell which has one of the worst ratings in Rhode IslandParent Review3y ago 
Check out schools near 501 Spring St.
Neighborhood Overview
Neighborhood stats provided by third party data sources.
What Locals Say about Fifth Ward
At least 20 Trulia users voted on each feature.
95 % Say it's walkable to restaurants
92 % Say it's dog friendly
88 % Say people would walk alone at night
87 % Say there are sidewalks
81 % Say streets are well-lit
79 % Say it's walkable to grocery stores
70 % Say yards are well-kept
70 % Say parking is easy
66 % Say there's holiday spirit
63 % Say kids play outside
60 % Say neighbors are friendly
58 % Say it's quiet
57 % Say there's wildlife
54 % Say car is needed
45 % Say they plan to stay for at least 5 years
36 % Say there are community events
Sourced by Trulia users. Learn more about our methodology.
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