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278 280 CORY'S LANE, PORTSMOUTH RI, 02871 $380,000.00
  • Acres: 0.4800
  • Buildings: 2
  • Frontage: 105
  • Full/Half Baths: 3.0
  • Garage: Detached
  • Levels: 2
  • Lot Size: 0.617
  • MLS#: 970508
  • Municipality: PORTSMOUTH
  • Neighborhood: PORTSMOUTH ABBEY
  • Taxes: 4000.0
  • Type: Up/Down,Apartment,Other
  • Units: 3
  • Year Built: 1950
  • Zoning: R40

Jackie Mei

Portsmouth is one of three communities on Aquidneck Island. This fast growing town has a highly skilled, highly educated population of 17,149 (2000), 74% of whom live in single family houses. Surrounded on three sides by water, temperatures are moderated year round by ocean breezes and the 132 sq. mi. Narragansett Bay. Established in 1638 by Anne Hutchinson, Portsmouth is the first town in the nation established by a woman, and, according to many, was the first true democracy in America. The Portsmouth Compact of 1638 is the first authentic guarantee of civil and religious freedom in the new world. The public school system is one of the best in the State. If you prefer a private education for your child, the Portsmouth Abbey, St. Philomena's, and the Pennfield School provide excellent alternatives. The fiscal year 2009 tax rate is $$11.265 per $1,000 of full assessed value for all types of property. Revaluation was completed in 2007. Major industries on Aquidneck Island include: Oceanography, underwater systems development, navigational equipment, advanced thermoplastic composites, programmers, small boat, sailboat, luxury yacht and ship building, marinas, tourism, printing, awards, and 4,000 acres of farms. A wide variety of skills exists in Portsmouth and adjacent towns. An impressive community of management, engineers and scientists has grown around Naval Undersea Warfare Center and Raytheon, including many small consulting firms. 70% of Rhode Island's software industry is on Aquidneck Island. While Portsmouth tends to be home to the more highly skilled, a substantial population with a full range of skills lives within a 10 mile radius. Many people say Portsmouth is one of the most beautiful towns in New England. Wherever you do not see the Bay (there is 56 miles of shoreline), chances are you overlook a farm or pasture. The town has one of the most progressive farm preservation programs in New England. Isn’t this the kind of place where you would like to live and work? Located in the desirable Portsmouth Abbey neighborhood, is 278-280 Cory’s Lane, a great investment opportunity. The main house (280) is a 2-family home. The first level is a 2-bedroom unit (1000 sf) and there is a 1-bedroom unit (770 sf) on the second level, both with private decks and off-street parking. The 3-bedroom bungalow (278) has 900 sf of living space and is located at the end of the driveway. There is 750 sf of both unfinished attic and basement space as an option to increase finished living space. In addition, there is a 550 sf 2-car garage. The two buildings and garage sit on a half acre corner lot. Less than 500 yards is the shore, which you can walk to. This is also the beginning of the Narragansett Bay Blue Trail which can be explored on foot or by boat. http://www.borntopaddle.com/2008/09/17/blueway-trail-in-rhode-island/ Several use options exist. The main house can be owner occupied and converted back to a single family, while providing a comfortable 3 bedroom in-law next door. The Main House can be rented while owner lives in bungalow. Or, as a complete investment, the combined rent of $3250 certainly supports the numbers and generates a positive cash flow. In a competitive world which demands excellence in its workforce, in its quality of life, in its educational system for our young, and in its ability to be at the forefront of technological change, Portsmouth shines. Portsmouth is easy to get to by land, sea or air, and is just a stone’s throw from all the major business centers, activities and attractions in New England. Winter skiing is just two hours to the north, Cape Cod an hour east, historic Newport a few minutes south, beaches and sailing in our back yard. Portsmouth is centrally located on the eastern seaboard between the major metropolitan areas of New York and Boston.
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Last Updated: 7/29/2010 12:37:46 PM
Listed by: CENTURY 21 Access America

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