Middletown isn’t cheaper, but it’s another option to consider when buying a rental.
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When investors and buyers first start thinking of Newport they almost always ask us for "water views" or "beach front". Despite Newport's island locale there is little oceanfront housing and when it comes on the market is often in the 7 to 8 digit price range. That's due in large part to the geography of the island. The ocean view houses are high on the cliff's and most were bought and developed in the 1800's and are now either owned by the Preservation Society or are large privately owned estates.
Most of the popular more affordable neighborhoods of Newport are on the west side of the island which is harbor facing.
The houses overlooking Newport's First Beach, however, are in Middletown, in a neighborhood called Easton's Point. Middletown is slightly less restrictive than Newport when it comes to short-term rentals, which is great for Vrbo and Airbnb owners. When you register to rent property in Middletown, one of the town’s primary concerns is parking. The rule is that you must have one parking spot per bedroom, and this is far more common in Middletown than Newport. The area from Easton’s Point all the way back to Aquidneck Avenue is popular among families who need a weekend destination to hang out on the beach.
Middletown is a great place to consider buying a rental.
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So don’t give up if you can’t find a great rental in Newport! Middletown isn’t cheaper, but it’s another option to consider, and it’s just one mile from the heart of downtown Newport. If you’d like to know about the available properties in MIddletown, visit our website www.wrgri.com or give anyone on my team a call and we’d be happy to guide you through the listings.
As always, if you have questions about any other real estate topic or are thinking of selling a home soon, don’t hesitate to reach out to me. I’m happy to help.