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Multi Family at 23 Butler Street, Newport
Multi Family at 23 Butler Street, Newport, photo 2 of 19
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19 photos

$820,000

23 Butler Street
Newport, RI 02840
Listed by Frances Bidell
Bedrooms
4
Bathrooms
3
Living area
N/A
Year built
1981

About this home

Excellent one-level duplex investment property in a convenient Rhode Island location, offering two spacious residential units, strong rental income, ample parking, and future expansion potential. Unit A features 2 bedrooms and 2 full baths, while Unit B offers 2 bedrooms and 1 full bath. Both units have desirable features including fireplaces, hardwood floors, large kitchens, and comfortable single-level living. Current rents are $2,500 per month for Unit A and $2,000 per month for Unit B, producing $4,500 per month or $54,000 annually in gross rental income. There may be additional rental upside with cosmetic improvements and updates. An excellent opportunity for an owner-occupied duplex, multifamily investment property, or year-round rental. Conveniently located near the Naval Station Newport, downtown Newport, local beaches and waterfront access, making this an attractive option for military personnel, professionals, commuters, and long-term renters seeking proximity to Newport and Narragansett Bay.

Highlights

Fireplace

Property details

MLS #
1415739
Property type
Multi Family
Subdivision
N/A
Status
Active
Days on market
80
On market date
June 22, 2026
Stories
1
Total bathrooms
3
Garage spaces
N/A
Parking spaces
6
Lot size
0.1711 acres

Location

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Nearby schools

Within 10 miles · public school directory data (NCES)

Elementary
Claiborne Pell Elementary
0.74 mi away · Grades -1-4
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
744
Student:teacher ratio
10.9:1
District
Newport
Middle
Frank E. Thompson Middle
0.68 mi away · Grades 5-8
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
565
Student:teacher ratio
9.7:1
District
Newport
High
Middletown High School
1.88 mi away · Grades 9-12
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
620
Student:teacher ratio
11.9:1
District
Middletown

Walkability

Blended score for Newport's center: EPA's National Walkability Index (street network, transit, land-use mix) combined with nearby-amenity density. 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).

86
Highly walkable
out of 100
EPA National Walkability Index
15.8 / 20 -- Most walkable
Nearby-amenity density
95 / 100
Restaurants & cafes20
Grocery stores3
Parks20
Schools11
Transit stops20
Pharmacies7

Market position

How this listing compares to current activity in Newport, from live MLS data.

On the market 80 days -- 2 fewer days than Newport's current average of 82 days.
For reference, the median list price across 669 active listings in Newport right now is $5,000.

Mortgage calculator

Estimate only - actual rate and payment depend on your lender, credit, and loan program.

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Est. monthly payment
$5,088/mo
$164,000 down
$656,000 loan
Principal & interest$4,255
Property tax (est.)$683
Home insurance (est.)$150

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Data source: Listing information provided by Rhode Island Association of REALTORS via Trestle/CoreLogic. Last updated 14 days ago.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.