23 Butler St, Newport, RI, 02840
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.
Getting Around
Somewhat Walkable
Some Transit
BikeableSchools
Construction
Condition
- Year built: 1981
Materials
- Foundation: Concrete Perimeter
- Construction materials: Dry Wall,Brick,Shingles
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Appliances
- Appliances included: Gas Water Heater,Dishwasher,Oven/Range,Refrigerator
- Laundry features: In Building
Basement
- Has basement: Yes
- Basement: Full,Interior and Exterior,Unfinished
Bathroom
- Features: Bath w Tub, Bath w Tub & Shower
Bedrooms & Bathrooms
- Bedrooms: 4
- Bathrooms: 3
- Full bathrooms: 3
Features
- Wall (Dry Wall),Plumbing (Mixed),Insulation (Unknown)
- Flooring: Ceramic Tile,Hardwood,Vinyl
- Number of fireplaces: 2
- Fireplace features: Brick,Insert
- Fireplace: Yes
Heating & Cooling
- Heating features: Natural Gas,Baseboard
- Cooling features: None
Interior Area
- Total structure area: 1,744
- Total interior livable area: 1,744 sqft
Property
Accessibility
- Accessibility features: One Level
Details
- Parcel number: NEWPM009B0059
- Attached to another structure: Yes
- Zoning: r10
- Foundation area: 1456
Features
- Stories: 1
- Waterfront features: Walk To Water
Lot
- Lot size: 7,453 sqft
Parking
- Total spaces: 6
- Parking features: No Garage
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
- 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 | $4,293 | $51,516 |
| Home Insurance * | $284 | $3,408 |
| Property Taxes | $604 | $7,248 |
| Electricity | $389 | $4,675 |
| Total | $5,570 | $66,840 |
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)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-08-05 | Price change | $820,000 |
| 2026-06-23 | Listed for sale | $849,000 |
| 2025-02-18 | Listing removed | $2,500 |
| 2025-02-01 | Listed for rent | $2,500 |
| 2023-10-02 | Listing removed | -- |
| 2023-09-29 | Listed for rent | $2,500 |
| 2022-12-27 | Listing removed | -- |
| 2022-12-11 | Listed for rent | $2,500 |
| 1994-02-11 | Sold | $113,000 |
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