Triplex with Flexible Commercial
For Sale
$294,900
1422 1St Avenue E, Newton, IA 50208
Residential Income, Newton, IA
Property Size3,649 SF
Lot Size0.71 Acres
Price / SF$80.82
Days on Market46
Property Features for 1422 1St Avenue E
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Basement
Partially Finished, Full
Directions
Interstate 80, Newton Ext, north on Hwy 14/Hwy6 East (1st Ave E).
Standard status
Active
APN
0835108015
Size
3,649 SF
Lot size
0.71 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
S 190' LOT N NW NW
Tax Annual Amount
5932
Legal Description
S 190' LOT N NW NW
Utilities
Heating system
Forced Air
Water source
Public
Amenities
separate gas and electric meters
abundant front parking space
private entrance
nice sized back yard
Building Details
Year built
1904
Floors in Building
2
Number of units
3
Building materials
Wood Siding, Vinyl Siding
Listing Agency:
All In Real Estate Inc
Listed By:
Dedee Lehman · License #***
(319) 693-9301
Added: Sep 1
Changed: Oct 12
Last Checked: Oct 16 at 9:06PM
MLS# 6342231
Copyright © 2026 NoCoast MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3,649-square-foot triplex includes two residential apartments and a flexible third unit. The first apartment has four bedrooms, one full bath, a three-quarter ensuite bath, and a half bath. The second offers two bedrooms and one bathroom. The third area is configured for commercial storefront or office use and may also be adapted for residential occupancy with added plumbing and kitchen improvements. Each unit has a private entrance, while separate gas and electric meters serve the property. Forced-air heating, public water, a backyard, and substantial front parking are also provided. Built in 1904, the property occupies 0.71 acres in Newton’s arterial commercial district. Local stores, dining, and essential services are located nearby, supporting convenient access for both residential occupants and commercial users.
Key Highlights
- 3,649‑square‑foot triplex on 0.71 acres
- Two residential units plus a flexible commercial or office area
- Unit 1 includes 4 bedrooms, 1 full bath, 3/4 ensuite bath, and half bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,902
Cap Rate
8.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,040
$478.0K
Cap Rate 7%
$341,457
$341.5K
Cap Rate 9%
$265,578
$265.6K
Market Conditions
NOI Build-Up for 3,649 SF
Gross rent
$37.2K $10.20/SF
− Vacancy
−$3.1K −$0.84/SF
EGI
$34.1K $9.36/SF
− OpEx
−$10.2K −$2.81/SF
NOI
$23.9K $6.55/SF
Area
Jasper County, IA
Vacancy
8.26%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,040
Cap Rate 7%
$341,457
Cap Rate 9%
$265,578
Alternative Uses
Best Use
Mixed Use
$530.6K
$464.3K – $619.1K
NOI $37,144 @ 7.0% cap · market cap 12.60%
Second Best
Multifamily LT 5
$341.5K
$298.8K – $398.4K
NOI $23,902 @ 7.0% cap · market cap 8.11%
Theoretical Best
Flex RnD
$3.51M
$3.07M – $4.10M
NOI $245,884 @ 7.0% cap · market cap 83.38%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
301
Businesses Nearby
Explore this area
Business Placement
Demographics for 50208, IA
20,918
Population
8,919
Households
2.3
Avg Household Size
42
Median Age
17%
College-Educated
91%
High-School Grad
158.5 sq mi
ZIP Area
132
Density / Sq Mi
$61,064
Median Household Income
$37,490
Median Earnings
$830
Median Rent
$161,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Three separately entered units include residential layouts and a flexible commercial area.
Where is this triplex located?
The property is located at 1422 1St Avenue E Newton, IA.
What is the asking price?
The asking price for this property is $294,900.
What are key features of this property?
This property features: 3,649‑square‑foot triplex on 0.71 acres; Two residential units plus a flexible commercial or office area; Unit 1 includes 4 bedrooms, 1 full bath, 3/4 ensuite bath, and half bath
