INNOVATE Real Estate
Multi Family at 18 Spring Street, Westerly
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$529,900

18 Spring Street
Westerly, RI 02891
Listed by Caitlin Pannone
Bedrooms
7
Bathrooms
4
Living area
N/A
Year built
1900

About this home

The bones are right, and the price reflects the work. A buyer who has done this before will see immediately what this property is worth with a little TLC. First time on the market, this rare four-unit multi-family sits a 10-minute walk from historic downtown Westerly, shops, restaurants, the Amtrak station, and just 12 minutes from Westerly's beaches, Misquamicut, and Watch Hill. The first and second-floor units each offer over 1,100 square feet of living space, with two bedrooms, a double parlor, and hardwoods throughout. Unit 1R is a spacious one-bedroom with a formal dining room and large living room with its own private entrance, privacy fence, and side yard. The third floor is a cozy retreat with an extra room for storage or a home office. Recent improvements include two brand-new heating systems and all-new water tanks. A four-bay garage and garden areas complete the property. Fully rented with long-standing tenants, 18 Spring Street offers the year-round consistency and reliability that make it an ideal investment property for investors, owner-occupants, or those looking to add a great property to their portfolio. Property Is Being Sold As-Is.

Highlights

Fireplace

Property details

MLS #
1423663
Property type
Multi Family
Subdivision
N/A
Status
Active
Days on market
13
On market date
September 17, 2026
Stories
2
Total bathrooms
4
Garage spaces
4
Parking spaces
14
Lot size
0.31 acres

Location

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Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card (e.g. NC Dept. of Public Instruction, SC Report Card).

Elementary
State Street School
0.44 mi away · Grades 0-4
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
246
Student:teacher ratio
10.7:1
District
Westerly
Middle
Westerly Middle School
2.56 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
740
Student:teacher ratio
11.2:1
District
Westerly
High
Westerly High School
0.44 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
726
Student:teacher ratio
9.9:1
District
Westerly

Walkability

Blended score for Westerly's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).

78
Walkable
out of 100
EPA National Walkability Index
12.7 / 20 -- Above average walkable
Google Places amenity density
100 / 100
Restaurants & cafes20
Grocery stores7
Parks11
Schools9
Transit stops5
Pharmacies4

Market position

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

On the market 13 days -- 32 fewer days than Westerly's current average of 45 days.
For reference, the median list price across 230 active listings in Westerly right now is $587,500.

Mortgage calculator

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

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Adjust tax / insurance estimates
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/mo
Est. monthly payment
$3,341/mo
$105,980 down
$423,920 loan
Principal & interest$2,750
Property tax (est.)$442
Home insurance (est.)$150

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Data source: Listing information provided by Rhode Island Association of REALTORS via Trestle/CoreLogic. Last updated 4 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.