You’ve probably heard the saying that the three most important words in real estate are “location, location, location.” That holds true to an extent, and 32 Houston Avenue in Newport is a clear example of why.
Located in Newport’s Fifth Ward neighborhood, just a handful of homes from the water, this is a part of town that people don’t tend to leave once they get there. From the front door, you can walk down to King Park, along Newport Harbor, or over toward the New York Yacht Club and Ida Lewis Yacht Club. It’s the kind of setting where you can start or end your day by the water with a short stroll to the end of your street.
What I personally like about this pocket of town is how easy it is to live your day-to-day life without getting in the car. Some of my go-to spots are right down the road. Vieste Italian Restaurant for dinner, Beaucoup Cafe for coffee, Zelda’s for something casual, and The Protective Club. You may have seen me there once or twice. And now with Ocean & Fifth Cafe open, there’s another great option right in the mix.
If you’re more of a beach person, hop on a bike and you’re at Easton’s Beach, Hazard’s Beach, Gooseberry Beach, or Fort Adams State Park in just a few minutes.
The property itself is a three-unit multi-family, which opens up a few different paths depending on what someone is looking to do. The first floor has already been updated and is set up as a three-bedroom with in-unit laundry. The second and third floors are one-bedroom units that have been well maintained. Two of the three units are currently rented, so there is income coming in from day one.
One thing that stands out, especially for this part of the Fifth Ward, is the size of the lot. At over 8,500 square feet, it’s larger than what you typically see on this street. That creates flexibility, whether it’s parking, outdoor space, a potential garage, or thinking longer term about how the property could evolve.
The comparable sales are there and the listing is supported by neighboring properties in the immediate area. 24 Houston recently sold for $1,354,000, and 45 Houston closed at $1,795,000 last summer. Many homes on Clinton, Houston, and Roseneath are being renovated or improved, and values have been trending accordingly. Those are meaningful data points for anyone trying to understand the trajectory of this street and the future of this neighborhood. Proximity to the water remains a premium, and this location delivers on that.
Whether you’re looking at this home as an investment, a place to hold and improve over time, or a longer-term play to convert into a single-family in a strong location, there are a few different ways to approach it. Inventory like this remains limited in Newport, especially this close to the water with this kind of lot size. At the time of writing, there are only 12 multi-family homes on the market in Newport, and just 6 of those are priced under $1,500,000. It’s one of those properties where the value isn’t just in the building, but in the setting, the walkability, and the consistency of the neighborhood around it.We are hosting an Open House on Saturday from 11:00 to 12:30.
For more information on 32 Houston Avenue in Newport or to schedule a private tour, feel free to reach out directly. I can be reached at 401-241-1851 or TylerB@resultswithremax.com.
