Two-Story Duplex With Separate
412 S 2nd Avenue E Newton, IA 50208
For Sale
$154,000
MULTI_FAMILY - Other - Newton, IA
Property Size1,908 SF
Lot Size0.20 Acres
Price / SF$80.71
Days on Market105
Property Features for 412 S 2nd Avenue E
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-3
Bedrooms
4
Bathrooms
4
Rooms
Bathroom 2, Bedroom 2, Bathroom 1, Bathroom 3, Basement, Bedroom 4, Bathroom 4, Bedroom 1, Bedroom 3
Standard status
Active
APN
0834179005
Size
1,908 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
ORIGINAL PLAT E 1/2 LOT 2 & W 1/2 LOT 3 OUTLOT 23
Tax Annual Amount
1409
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Building materials
VinylSiding
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
RE/MAX Concepts
(641) 791-2800
Listed By:
Jake Jenkins · License #S69857000
(515) 276-2872
Added: Apr 17
Changed: Jul 28
Last Checked: Jul 30 at 9:06AM
MLS# 738691
Copyright © 2026 Des Moines Area Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story duplex offers flexible living and income potential with a configuration that can be maintained as an up-and-down duplex or used as a single-family home. The property includes four bedrooms total, with the upper unit fully remodeled and finished with modern updates, new black appliances, and vinyl plank flooring throughout. The main level has its own kitchen, newer Lennox furnace, and laundry hookups on both floors. Separate gas and water meters support independent utility tracking, and the layout includes separate private entrances for each level. Recent exterior work includes a new roof installed in 2023 and new siding completed in 2024.
The property is located at 412 S 2nd Avenue E in Newton, Iowa. Access is supported by rear alley access, and the home is positioned for convenience near downtown.
For tenants or owner-occupants, the combination of separate entrances and utility meters can help simplify day-to-day operations while preserving privacy between levels. The remodeled upper unit and maintained mechanical and exterior components provide a practical foundation for an owner who wants to live in one portion while renting the other, or for an investor seeking a duplex setup with clear separation.
The property is located at 412 S 2nd Avenue E in Newton, Iowa. Access is supported by rear alley access, and the home is positioned for convenience near downtown.
For tenants or owner-occupants, the combination of separate entrances and utility meters can help simplify day-to-day operations while preserving privacy between levels. The remodeled upper unit and maintained mechanical and exterior components provide a practical foundation for an owner who wants to live in one portion while renting the other, or for an investor seeking a duplex setup with clear separation.
Key Highlights
- Two‑story duplex at 412 S 2nd Ave E, Newton; 1,908 sq ft with multiple use options as a 4‑bedroom single‑family or an up‑and‑down duplex.
- 10.6% cap rate noted in remarks, supporting investor‑focused cash flow.
- Exterior updates: new roof installed in 2023 and new siding completed in 2024 (vinyl siding).
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $19.5k | $10.20 |
| − Vacancy | −$1.6k | −$0.84 |
| EGI | $17.9k | $9.36 |
| − OpEx | −$5.4k | −$2.81 |
| NOI | $12.5k | $6.55 |
1,908 SF · lease $10.20/SF/yr · vacancy 8.26% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$178.5K
$156.2K – $208.3K
NOI $12,498 @ 7.0% cap · market cap 8.12%
Second Best
Apartment 5plus
$164.2K
$143.7K – $191.6K
NOI $11,497 @ 7.0% cap · market cap 7.47%
Theoretical Best
Flex RnD
$1.84M
$1.61M – $2.14M
NOI $128,569 @ 7.0% cap · market cap 83.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit layout with separate utilities and rear alley access, complemented by recent exterior updates and a remodeled upper level.
Where is this duplex located?
The property is located at 412 S 2nd Avenue E Newton, IA.
What is the asking price?
The asking price for this property is $154,000.
What are key features of this property?
This property features: Two‑story duplex at 412 S 2nd Ave E, Newton; 1,908 sq ft with multiple use options as a 4‑bedroom single‑family or an up‑and‑down duplex.; 10.6% cap rate noted in remarks, supporting investor‑focused cash flow.; Exterior updates: new roof installed in 2023 and new siding completed in 2024 (vinyl siding).
