56-Unit Apartment
For Sale
Contact for pricing
315 1st St S, Newton, IA 50208
Fully occupied apartment property with one-bedroom residences and on-site resident amenities.
Property Size41,888 SF
Price / SF$71.62
Days on Market158
Property Features for 315 1st St S
General Information
Standard status
Active
Size
41,888 SF
Class
C
Total Parking Spaces
56
Property subtype
Multifamily
Occupancy
100%
Investment Type
Value Add
Units
Unit Mix
56 x 1BR/1BA
Multifamily Units
56
Amenities
exterior patio and grilling area
on-site library
dedicated management office
Building Details
Year Built
1977
Stories
4
Units
56
Listing Agency:
Stanbrough Realty
(515) 689-2612
Listed By:
Josh Kirby · License #S72206000
Source:
Crexi
Added: Mar 27
Changed: Aug 30
Last Checked: Aug 30 at 11:07PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Stanbrough Realty
Investment Insights
Based on property information with market context.
Bristol Square Apartments is a 41,888-square-foot multifamily property containing 56 one-bedroom, one-bathroom units. Built in 1977, the building is reported to be 100% occupied and includes an exterior patio with grilling area, an on-site library, and a dedicated management office.
The property is located at 315 1st St S in Newton, Iowa, approximately 45 minutes from Downtown Des Moines. Newton is described as a regional employment center supported by manufacturing and logistics activity, with a blue-collar workforce contributing to renter demand.
The property is located at 315 1st St S in Newton, Iowa, approximately 45 minutes from Downtown Des Moines. Newton is described as a regional employment center supported by manufacturing and logistics activity, with a blue-collar workforce contributing to renter demand.
Key Highlights
- 56 one‑bedroom, one‑bathroom apartment units
- 41,888‑square‑foot multifamily property
- 100% occupied
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$252,409
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,048,180
$5.0M
Cap Rate 7%
$3,605,843
$3.6M
Cap Rate 9%
$2,804,544
$2.8M
Market Conditions
NOI Build-Up for 41,888 SF
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.
Gross rent
$502.7K $12.00/SF
− Vacancy
−$43.7K −$1.04/SF
EGI
$458.9K $10.96/SF
− OpEx
−$206.5K −$4.93/SF
NOI
$252.4K $6.03/SF
Area
Jasper County, IA
Vacancy
8.70%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,048,180
Cap Rate 7%
$3,605,843
Cap Rate 9%
$2,804,544
Alternative Uses
Best Use
Apartment 5plus
$3.61M
$3.16M – $4.21M
NOI $252,409 @ 7.0% cap · market cap 8.41%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$40.32M
$35.28M – $47.04M
NOI $2,822,583 @ 7.0% cap · market cap 94.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
56
Residential units
Location Intelligence
Trade Area within ½ mile
852
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied apartment property with one-bedroom residences and on-site resident amenities.
Where is this apartment building located?
The property is located at 315 1st St S Newton, IA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 56 one‑bedroom, one‑bathroom apartment units; 41,888‑square‑foot multifamily property; 100% occupied
