They say the three most important words in real estate are location, location, location and 17 Dearborn Street delivers on all three. Just three doors from Thames Street and tucked into the heart of Newport’s famed Yachting Village, this historic property known as The Owen Greelish House offers an extraordinary blend of character, flexibility, and untapped potential, without being subject to Historic District Commission approval for future projects. Whether you’re an investor, an end-user, or someone with a long-term vision, this is the type of downtown opportunity that rarely comes to market.
Currently configured as a legal two-family home, the property features a versatile layout: a first-floor flat with two bedrooms and one full bath, and a townhouse-style upper unit that spans the second and third floors. There’s also potential to dormer the top level and create even more usable square footage. Each unit is equipped with separate utilities and its own in-unit laundry, and a private, shaded backyard provides a rare sense of privacy in this vibrant downtown setting.
What makes 17 Dearborn so special is not just what it is, but what it could be. The home offers multiple paths forward. It can remain a multi-family rental in a high-demand, walk-to-everything location. It could be converted into a single-family home, combining historic charm with modern functionality in the heart of downtown. And for those thinking bigger, there’s also a compelling opportunity for condo conversion, especially as the demand for boutique, well-located residential units in Newport continues to rise.
But no matter which direction you take, the real value here lies in its location. In a town where walkability, lifestyle, and long-term value intersect, 17 Dearborn stands out. This is the kind of street, and the kind of neighborhood, that never goes out of style. You can hit a pitching wedge to O’Brien’s Pub or Thames Street Kitchen. Walk to your boat slip in the marina. Enjoy dinner at Zelda’s or Scales and Shells, and still make it home in under a few minutes after a late night at IYAC. This is the pulse of Newport, and this home puts you at the very center of it.
In a market with limited downtown inventory, opportunities like this don’t come around often. Whether you’re looking for a weekend escape, a long-term investment, or a property you can truly transform, 17 Dearborn offers the rare combination of location, flexibility, and future upside.
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Listed by Tyler Bernadyn and Devin Sheehan of the Fitzpatrick Team at RE/MAX Results, this one is worth your attention. For more information or to schedule a private showing, contact Tyler at 401-241-1851 or Devin at 401-741-4238.
