Single-Level Brick
New
For Sale
$265,000
Pending
409 East K Street E, Newton, NC 28658
Two matching residential units offer two bedrooms, one bathroom, and in-kitchen stackable laundry appliances each.
Property Size1,670 SF
Days on Market5
Property Features for 409 East K Street E
General Information
Standard status
Pending
Size
1,670 SF
Property subtype
Duplex
Occupancy
50%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
Size: 0.32, Size Units: Acres
Man Level Garage: 0
Details: Heat Pump
Heating: Heat Pump
Description: In Kitchen
Days on Market: 1, Listing Price: 265000, Status: Under Contract-No Show
Elementary: South Newton, Middle/Junior High: Newton Conover, High School: Newton Conover
Total Bathrooms: 4
Finished Area Above Grade: 1670, Area: 1670, Architecture: Rustic, Building Area: 1670, Construction Materials: Brick Full, Year Built: 1956, Construction Type: Site Built
City: Newton, State: NC, Zip: 28658, County: Catawba, Subdivision: Brady Acres
Full Bathrooms: 2
Sewer: Public Sewer, Water Source: City
Description: No
Auction Y/N: 0
Description: Electric Range, Electric Water Heater, Refrigerator, Washer/Dryer
Building Details
Building Size
1,670 SF
Year Built
1956
Buildings
1
Stories
1
Construction
brick
Listing Agency:
Better Homes and Gardens Real Estate Foothills
(828) 234-7759
Listed By:
Kevin Mack
(828) 234-7759
Source:
Blackstreaminternational
Added: Aug 7
Changed: Aug 11
Last Checked: Aug 11 at 7:15AM
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 Better Homes and Gardens Real Estate Foothills
Investment Insights
Based on property information with market context.
This single-story brick duplex contains two matching units, each configured with two bedrooms and one bathroom. Hardwood and laminate flooring extend throughout the interiors, while recent improvements include a 2025 roof replacement, fresh paint, and plumbing updates. Each kitchen includes stackable washer and dryer appliances.
The property is located at 409 East K Street E in Newton, North Carolina. A circular driveway provides access to rear parking. One unit is currently leased, while the other is available for showing.
The property is located at 409 East K Street E in Newton, North Carolina. A circular driveway provides access to rear parking. One unit is currently leased, while the other is available for showing.
Key Highlights
- Two identical units, each with 2 bedrooms and 1 bathroom
- 2025 roof replacement
- Hardwood and laminate flooring throughout
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
$15,084
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
5.69%
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%
$301,680
$301.7K
Cap Rate 7%
$215,486
$215.5K
Cap Rate 9%
$167,600
$167.6K
Market Conditions
NOI Build-Up for 1,670 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
$23.0K $13.80/SF
− Vacancy
−$1.5K −$0.90/SF
EGI
$21.5K $12.90/SF
− OpEx
−$6.5K −$3.87/SF
NOI
$15.1K $9.03/SF
Area
Catawba County, NC
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$301,680
Cap Rate 7%
$215,486
Cap Rate 9%
$167,600
Alternative Uses
Best Use
Multifamily LT 5
$215.5K
$188.6K – $251.4K
NOI $15,084 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$200.2K
$175.2K – $233.6K
NOI $14,017 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$487.8K
$426.9K – $569.1K
NOI $34,148 @ 7.0% cap · market cap 12.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
Explore this area
Business Placement
Demographics for 28658, NC
26,453
Population
10,958
Households
2.4
Avg Household Size
42
Median Age
19%
College-Educated
88%
High-School Grad
71.3 sq mi
ZIP Area
371
Density / Sq Mi
$67,805
Median Household Income
$41,013
Median Earnings
$933
Median Rent
$192,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two matching residential units offer two bedrooms, one bathroom, and in-kitchen stackable laundry appliances each.
Where is this duplex located?
The property is located at 409 East K Street E Newton, NC.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two identical units, each with 2 bedrooms and 1 bathroom; 2025 roof replacement; Hardwood and laminate flooring throughout
