About This Home

This 5-bedroom, 4-bathroom residential multi family at 247 W Main Road in Middletown, RI is listed for $1,249,000 ($437 per sqft). Built in 1945, the home offers 2,858 sqft of living space on a 0.44 acres lot.

Key Features

  • Built in 1945
  • 0.44 acre lot
  • 14 parking spaces
  • Fireplace

Property Details

1 story
4 full
14 spaces
1945

Amenities

FireplaceHardwood
Listing Description

Rare Multi-Property Investment Opportunity! Exceptional offering of 247 and 249-251 West Main Road featuring two contiguous properties with outstanding income and investment potential in the heart of Middletown. Whether you're looking to expand your investment portfolio, generate rental income, or occupy one residence while leasing the others, this unique property offers exceptional flexibility.

Ideal for year-round rentals, furnished seasonal rentals, or short-term vacation rentals where permitted by local regulations. The prime location, just minutes from Newport, area beaches, shopping, restaurants, marinas, and Naval Station Newport, provides strong rental demand throughout the year.

The property also presents an excellent opportunity for a primary residence with supplemental income or future redevelopment potential, subject to municipal approvals. Rarely do three adjacent properties become available as a single offering, creating possibilities for investors, developers, and owner-occupants alike.

A truly unique opportunity to own a versatile income-producing property on Aquidneck Island with exceptional long-term appreciation potential. This single-family property is set back from road with a delightful private yard and mature shrubbery. The spacious 2 car garage and plenty of parking add exceptional value. House and duplex are also being listed separately, please see MLS #s 1418769 and 1418643.

Monthly Cost Estimate

$6,680/mo

20% down · 6.5% · 30 years

Principal$903
Interest$5,412
Insurance$364

Estimates only. Actual payments may vary.

Location

247 W Main Road

Middletown, RI 02842

Two Mile Corner

Features & Amenities

Interior Features

Wall (Dry Wall)AtticPlumbing (Mixed)Insulation (Floors)Insulation (Unknown)Insulation (Walls)

Exterior Features

DeckScreened Pch/Patio/Dck/Brzwy

Property Details

Flooring

CarpetTile - CeramicMarbleVinylHardwood

Construction

Dry Wall Brick Masonry Wood

Pool Features

PatioDeck

Heating

Oil

Appliances

Electric Water HeaterDishwasherOven/RangeRefrigeratorWasher

Questions & Answers

This 5-bedroom, 4-bathroom residential multi family at 247 W Main Road is listed at $1,249,000 ($437/sqft). The estimated monthly payment is $6,680 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 1945, 0.44 acre lot, 14 parking spaces, Fireplace. Interior Features: Wall (Dry Wall), Attic, Plumbing (Mixed). Exterior Features: Deck, Screened Pch/Patio/Dck/Brzwy.

This property is listed by Jeanne Allen and can be reached at 4018642752.

JA

Jeanne Allen

Agent at William Raveis Inspire

(401) 864-2752

Listed by William Raveis Inspire · View on Broker Site

MLS# 1418571· Source: listhub· 2 days on market

Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

247 W Main Road, Middletown, RI 02842

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