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Backup Offers

40 Hemlock Ave, Narragansett, RI, 02882

$1,550,000

Home List Price

$10,000*

Closing Credit

9 Bedrooms
3 Full Baths
Multi

Location

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40 Hemlock Ave, Narragansett$1,550,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
ParkingNo Garage
Year Built1960
HeatingBaseboard, Propane
CoolingWindow Unit(s)
BasementYes
MLS #1368553
Lot Size0.43 Acres
StatusAccepting Backup Offers
(Active Under Contract)

About 40 Hemlock Ave

Rare 3 family on a double lot in Narragansett's Point Judith neighborhood. This property offers amazing investment income potential or the option to occupy one of the units while offsetting your mortgage. This turn key house currently has one of three units leased, allowing the other two units to be rented or occupied at buyer's discretion. Each spacious unit enjoys a private entrance and patio space. Garden level unit and top floor unit share laundry, while main floor has in unit laundry room. The oversized lot may be suitable for a variety of uses including expansion, an ADU or pool (buyer to complete due diligence). With parking for 9 cars, outdoor shower, walking proximity to Roger Wheeler Beach and neighborhood gems like Iggy's and Aunt Carrie's this 8 bed, three bath home is an excellent opportunity.

Property Details

Property Features

Property Information:

  • Year Built: 1960

Listing Office:

  • Office Name: Churchill & Banks Co., LLC
  • Office Phone: (401) 273-8010

Interior Features

Interior Information:

  • Appliances: Water Heater
  • Basement: Yes
  • Flooring Type: Carpet, Ceramic Tile, Hardwood, Vinyl
  • Interior: Bathtub, Stall Shower, Tub Shower

Bedroom and Bathroom Information:

  • Full Bathrooms: 3
  • Total Bedroom Count: 9

Exterior Features

Parking Information:

  • Parking: No Garage

Lot Features

Lot Information:

  • Lot Size: 0.43 Acres

Utilities

Utilities Information:

  • Heating: Baseboard, Propane
  • Cooling: Window Unit(s)

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,550,000

Tax Information:

  • Annual Amount: $5,236
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Narragansett, RI.

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Narragansett, RI

City

Med. Sold Price

$839.7K

Med. Price/SqFt

$494

Avg. Days On Market

42

# of Sold Homes

22

40 Hemlock Ave vs Narragansett

68 DAYS ON ROCKET

+26 Days

$1,550,000

+$710.2K More

KEY TAKEAWAY

This property is $710.2K more than the Median Sold Price in Narragansett, RI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: RIS
  • MLS Number: #1368553

Listing Office:

  • Office Name: Churchill & Banks Co., LLC
  • Office Phone: (401) 273-8010

Disclaimer: The data relating to real estate for sale on this web site comes in part from the IDX Program of the State-Wide Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than this broker are marked with the MLS logo and detailed information about them includes the name of the listing brokers. The purchase price of housing stock as shown on this website may vary depending on factors such as fees, commissions, price negotiations, home inspection results, market conditions, etc. This website in no way warrants or represents that submitting an offer to purchase a property for the list price will result in a sale at that price. Please consult with your REALTOR® to discuss how these variations may affect your real estate transaction. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Deemed Reliable, but is neither guaranteed nor independently verified. Interested parties must make their own inquiries. Copyright © 2024 State-Wide MLS, Inc. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/21/2024, 6:20:48 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Oct 04, 2021Home Sold
$1,275,000

Tax History

YEARPROP. TAXASSESSMENT
2021$5,236$591,000
2020$5,918$564,700
2019$5,777$564,700
2018$5,619$564,700
2017$6,271$593,800

History based on county public records data.

Payment Calculator

$7,803

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$4,713

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-212715
8
/10

  • Matunuck School

  • 380 Matunuck Beach Rd

  • 3.01 miles

  • Public District Grades KG-4

school-card-donut-212716
7
/10

  • Narragansett Elementary School

  • 55 Mumford Rd

  • 4.51 miles

  • Public District Grades PK-4

school-card-donut-212717
5
/10

  • Wakefield School

  • 101 High St

  • 4.58 miles

  • Public District Grades PK-4

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $48,966. Residents of Narragansett, RI typically earn between $35k-100k each year. Residents typically live in single, no kids family. The most common level of education of people living in this area is post secondary degree.

All data provided by Home Junction and Claritas

Living In Narragansett, RI

Content displayed has been generated by an AI model trained on a diverse range of data. While efforts have been made to ensure the quality and reliability of the content, there may be limitations or inaccuracies. The content should not be considered as a substitute for professional advice, and we recommend consulting with appropriate experts and independent sources for specific information or guidance. We assume no responsibility for any consequences arising from the use of this content.

Types of housing in Narragansett, RI.

Narragansett's housing market is characterized by a diverse array of options, with single-family homes being particularly prevalent. The architectural styles in the area range from classic New England cottages to contemporary beachfront properties. A significant portion of the housing stock reflects the town's coastal charm and history, with many homes dating back to the early 20th century. The homeownership rate in Narragansett is robust, with a majority of residents owning their homes, while the remainder of the population opts for rental opportunities that include apartments and seasonal housing, catering to the town's influx of summer visitors.

What is it like to live in Narragansett, RI?

Narragansett prides itself on its serene coastal ambiance and strong community spirit. The town is celebrated for its beautiful beaches, historic landmarks, and a laid-back lifestyle that appeals to both year-round residents and seasonal visitors. Local events such as the Narragansett Art Festival and the Seafood Festival highlight the town's cultural vibrancy and its connection to the ocean. The community's character is further defined by its commitment to preserving natural beauty and promoting outdoor activities.

Is it easy to get around Narragansett, RI without a car?

The community of Narragansett is served by a number of public schools, offering education from elementary through high school levels. The town also has access to healthcare services, including urgent care facilities and primary care providers, ensuring residents' medical needs are met. Narragansett's public library system provides educational and cultural resources to the community. Retail and dining options are plentiful, with many establishments reflecting the local seafood tradition and the town's coastal heritage. The town is proactive in adapting its services to meet the evolving needs of its residents and seasonal visitors.

Transportation in Narragansett, RI.

Narragansett's transportation infrastructure supports both private and public transit options, with local bus services connecting residents to key areas within the town and to neighboring communities. The town's layout and scenic landscapes make it conducive to walking and biking, particularly in the more densely populated and tourist-friendly areas. Major roads provide easy access to nearby cities and attractions, and ongoing efforts are made to enhance the efficiency and accessibility of the town's transportation network. While specific ride-sharing services are available, they complement the existing transportation options, offering residents and visitors an additional mode of travel.

Rocket Homes›Rhode Island›Washington County›Narragansett›02882›40 Hemlock Ave

This home is located at 40 Hemlock Ave in Narragansett, RI and zip code 02882. This home, which was built in 1960, sits on a 0.43 acre lot. Features: 9 bedrooms, 3 bathrooms. It has been listed on Rocket Homes since September 14, 2024 and is currently priced at $1,550,000.

Over 8 listings were sold over their listed price in October 2024 in Narragansett, RI. In the same period over 11 listings were sold below the listed price and 3 listings were sold for the listed price. The number of homes for sale in Narragansett, RI decreased by 9.7% between September 2024 and October 2024. In October 2024, listings were on the market for 42 days. During the same period, the median list price in this real estate market was $839,737.

From Rocket Homes Real Estate and based on county public records data.

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