A rare investment opportunity in one of Middletown’s most central and convenient locations. This well-maintained two-family property sits on over 1.5 acres, offering privacy on a pastoral setting, and strong potential for owner-occupancy or rental income. Each townhouse-style unit features 2 spacious bedrooms, 1.5 bathrooms, large living rooms, private rear decks, and generous unfinished basements with bulkheads, perfect for storage or future finishing. At 1,431 square feet per unit, the layout offers functional, comfortable living space with separate utilities. Tenants pay for heat, electricity, and Wi-Fi. Public sewer is connected, and the property is serviced by a private well. With leases in place through September 30, 2025, you have the flexibility to plan future occupancy or improvements. Set back from the road with ample parking and positioned between East and West Main Road, this is an ideal location for those seeking proximity to Middletown’s amenities while enjoying a serene setting. Don’t miss this rare duplex opportunity or potential condo conversion in the heart of Aquidneck Island.
Sold for $825,000 on 09/02/25
$825,000
223 Oliphant Ln, Middletown, RI 02842
4beds
2,862sqft
Multi Family
Built in 1987
-- sqft lot
$831,700 Zestimate®
$288/sqft
$3,231 Estimated rent
Home value
$831,700
$790,000 - $873,000
$3,231/mo
Zestimate® history
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What's special
Zillow last checked: 8 hours ago
Listing updated: September 03, 2025 at 05:45am
Listed by:
Fitzpatrick Team 401-848-7827,
RE/MAX Results
Bought with:
Benjamin Willett, REB.0019095
RE/MAX Results
Source: StateWide MLS RI,MLS#: 1390637
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 4
- Full bathrooms: 2
- 1/2 bathrooms: 2
Bathroom
- Features: Bath w Tub & Shower
Heating
- Natural Gas, Oil, Baseboard, Forced Water, Zoned
Cooling
- None
Appliances
- Included: Gas Water Heater, Dishwasher, Dryer, Oven/Range, Refrigerator, Washer
- Laundry: In Unit
Features
- Wall (Dry Wall), Stairs, Plumbing (Mixed), Insulation (Unknown)
- Flooring: Ceramic Tile, Hardwood, Laminate, Vinyl
- Basement: Full,Interior and Exterior,Unfinished
- Number of fireplaces: 2
- Fireplace features: Brick
Interior area
- Total structure area: 2,862
- Total interior livable area: 2,862 sqft
Property
Parking
- Total spaces: 8
- Parking features: No Garage, Driveway
- Has uncovered spaces: Yes
Lot
- Size: 1.58 Acres
Details
- Parcel number: MIDDM0112B00L86
- Special conditions: Conventional/Market Value
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
- Attached to another structure: Yes
Materials
- Dry Wall, Clapboard, Shingles
- Foundation: Concrete Perimeter
Condition
- New construction: No
- Year built: 1987
Utilities & green energy
- Electric: 200+ Amp Service, Circuit Breakers
- Water: Private, Well
- Utilities for property: Sewer Connected
Community & neighborhood
Community
- Community features: Golf, Hospital, Marina, Private School, Public School, Recreational Facilities, Restaurants, Schools
Location
- Region: Middletown
HOA & financial
Other financial information
- Total actual rent: 5600
Price history
| Date | Event | Price |
|---|---|---|
| 9/2/2025 | Sold | $825,000-2.9%$288/sqft |
Source:  StateWide MLS RI #1390637 | ||
| 8/6/2025 | Pending sale | $849,900$297/sqft |
Source: StateWide MLS RI #1390637 | ||
| 7/24/2025 | Listed for sale | $849,900+71.5%$297/sqft |
Source: StateWide MLS RI #1390637 | ||
| 9/12/2024 | Listing removed | $2,700$1/sqft |
Source: StateWide MLS RI #1365849 | ||
| 9/11/2024 | Listed for rent | $2,700-6.9%$1/sqft |
Source: StateWide MLS RI #1365849 | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $9,156 | $813,100 |
| 2024 | $9,156 +49.5% | $813,100 +59.6% |
| 2023 | $6,124 | $509,500 |
Find assessor info on the county website
Neighborhood: 02842
Nearby schools
GreatSchools rating
- 6/10Forest Avenue SchoolGrades: K-3Distance: 0.9 mi
- 8/10Joseph H. Gaudet SchoolGrades: 6-8Distance: 1.3 mi
- 5/10Middletown High SchoolGrades: 9-12Distance: 1.4 mi
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Sell for more on Zillow
Get a free Zillow Showcase℠ listing and you could sell for .
$831,700
2% more+ $16,634
With Zillow Showcase(estimated)
$848,334