315 Ocean Ave, Newport, RI, 02840
About This Home
“Twin Ledges” located on historic Ocean Drive, is a charming seaside retreat, offering privacy and seclusion, nestled within beautifully landscaped grounds, expansive lawns and ocean views. The shingled-style residence, custom built in 1982, sits on nearly four acres and features four levels of finished living space, designed to maximize natural light and scenic vistas. The main level offers a spacious living and dining area with an open, airy feel highlighted by vaulted ceilings, a wood-burning fireplace, and large windows that frame the surrounding landscape. A charming kitchen provides convenience while maintaining the home's open layout. The living space flows seamlessly to captivating, enclosed porch - perfect for gathering with family and guests while enjoying the coastal setting. Two bedrooms, a full bath and powder room complete this level. The top floor's primary en-suite bedroom boasts its own wood-burning fireplace and lovely views of the ocean. The finished lower level offers comfortable living space, complimented by a steam shower, wine cellar, and cedar closet with direct access to the heated saltwater pool. A two-car garage includes an elegant one-bedroom in-law suite above, connected to the main residence by a classic porte-cochere.
Getting Around
Car-Dependent
No Nearby Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1982
Materials
- Foundation: Concrete Perimeter
- Construction materials: Dry Wall,Shingles,Wood
Type & Style
- Home type: SingleFamily
- Property subType: Single Family Residence
Interior
Appliances
- Appliances included: Dishwasher,Dryer,Exhaust Fan,Disposal,Microwave,Oven/Range,Refrigerator,Trash Compactor
Basement
- Has basement: Yes
- Basement: Full,Walk-Out Access,Finished,Bath/Stubbed,Family Room,Storage Space,Utility,Wine Cellar
Bathroom
- Features: Bath w Shower Stall, Bath w Tub & Shower
Bedrooms & Bathrooms
- Bedrooms: 4
- Bathrooms: 5
- Full bathrooms: 4
- 1/2 bathrooms: 1
Features
- Wall (Dry Wall),Cedar Closet(s),Stairs,Plumbing (Mixed),Insulation (Unknown),Central Vacuum,Sauna
- Flooring: Ceramic Tile,Hardwood,Carpet
- Number of fireplaces: 2
- Fireplace features: Brick
- Fireplace: Yes
- Finished area below ground: 1,365
- Finished area above ground: 3,228
Heating & Cooling
- Heating features: Oil,Forced Water,Zoned
- Cooling features: Central Air,Ductless
Interior Area
- Total structure area: 3,228
- Total interior livable area: 4,593 sqft
Property
Details
- Parcel number: NEWPM043B0044
- Zoning: R160
- Other equipment: Cable TV,Sauna
Features
- Pool features: In Ground,Salt Water
- Patio & porch: Patio,Porch
- Has view: Yes
- View description: Water
- Has water view: Yes
- Water view: Water
- Waterfront features: Walk to Salt Water,Walk To Water
Lot
- Lot size: 3.71 Acres
- Features: Local Historic District
Parking
- Total spaces: 8
- Parking features: Attached
- Has garage: Yes
- Attached garage spaces: 2
- Covered spaces: 2
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Coastal Flooding
- Hurricane
- Lightning
- Strong Wind
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters Across Rhode Island Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $39,693 | $476,316 |
| Home Insurance * | $2,634 | $31,608 |
| Property Taxes | $5,588 | $67,056 |
| Electricity | $935 | $11,224 |
| Total | $48,850 | $586,200 |
Income You'd Need if You Spent...
Rhode Island FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2026-03-12 | Listed for sale | $7,850,000 |
| 2025-12-06 | Listing removed | $8,700,000 |
| 2025-07-25 | Listed for sale | $8,700,000 |
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