We've stayed in Leppy's downstairs suite for the past two years and love it. It's basically a little apartment all to yourself. The house has tons of character and it's in a great location, just a block from Broadway which has tons of great restaurants and bars. You have your own parking spot next to the house. It's a nice 15-20ish minute walk from the docks (even better if you have a bike) and you don't have to pay an arm and a leg like most spots in Newport.
Leppy's a fantastic host that cares about her guests. She's a true local that can tell you some of the best spots to eat, drink, swim or just see the town. She'll make you feel like family and you'll want to come back every year just to catch up.