Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Updated Duplex with Garage Title is generated by Realmo AI

    502 E 12th Street S, Newton, IA 50208

    View on Map
    Claim this Listing
    For Sale
    $189,900

    MULTI_FAMILY - Newton, IA

    Property size:
    1,440 SF
    Lot size:
    0.18 Acres
    Price / SF:
    $131/SF
    Added:
    Apr 17, 2026
    Days on Market:
    29
    Last Refresh:
    May 15 at 6:06 am

    Property Features for 502 E 12th Street S

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    08353011001
    Size
    1,440 SF
    Lot size
    0.18 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    GOODWIN ESTATES LOT 1
    Tax Annual Amount
    2696

    Utilities

    Heating system
    Forced Air
    Water source
    Public

    Building Details

    Year built
    1976
    Floors in Building
    1
    Number of units
    2
    Building materials
    Vinyl Siding, Brick
    Roof type
    Shingle

    We can help!

    Listing Contact
    Jo Jenkins
    Jo Jenkins

    Listing agent Jo Jenkins License #B26487001

    Listing office RE/MAX Concepts Main Office 120 N. 2nd Ave. W., Newton, IA

    Listing date Apr 17, 2026

    MLS# 6337345 Listing URL

    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.

    HighLights

    • New roof installed in 2026 on both the house and detached two‑stall garage.
    • Substantially updated property with new siding, fascia, soffit, windows, and updated electrical.
    • New mini‑split systems installed in both units in 2026, providing high‑efficiency heating and cooling.
    • Two separate units with private entrances, totaling 1,440 square feet.
    • Nicely updated with LVP flooring throughout both units.
    • Strong investment or owner‑occupant opportunity.

    Overview

    This bi-attached duplex presents an investment or owner-occupant opportunity. The property features two separate units, each with its own private entrance, totaling 1,440 square feet. Both units have been updated with LVP flooring. Improvements include new siding, fascia, soffit, windows, and updated electrical systems. A new roof was installed in 2026 on both the house and the detached two-stall garage. Also new in 2026, mini-split systems have been installed in both units, providing heating and cooling. This all-electric property has dual electric meters. One unit includes a stove and microwave. The property is situated on a lot of 0.18 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newton
    County
    Jasper
    State
    Iowa
    Longitude
    -93.038361
    Latitude
    41.695293

    Nearby Similar for Sale

    • $2,145,000
      4,968 SF

      NNN Leased Pizza Ranch Investment

      NNN leased Pizza Ranch in Newton, Iowa for sale.
      1500 W 18th St S, Newton, IA 50208
      View Details
    • $154,000
      1,908 SF

      Versatile Newton Multi-Family Property

      Two-story property with flexible single-family or duplex living options.
      412 S 2nd Avenue E, Newton, IA 50208
      View Details
    • $154,000
      1,908 SF

      Versatile Two-Story Newton Multifamily Property

      Two-story property with flexible single-family or duplex configuration.
      412 S 2nd Avenue E, Newton, IA 50208
      View Details
    • $209,900
      1,624 SF

      Renovated Duplex in Central Newton

      Turn-key income property with two updated units and garages.
      820 1st Avenue E, Newton, IA 50208
      View Details
    • $189,900
      1,440 SF

      Updated Duplex with Garage

      Updated duplex with modern features, new roof, and garage.
      502 E 12th Street S, Newton, IA 50208
      View Details
    • $1,000,000
      3,520 SF

      Freestanding BP Gas Station

      Single tenant BP gas station in Newton, Iowa for sale.
      4300 South 22nd Avenue East, Newton, IA 50208
      View Details
    • $1.00

      Productive Farmland with Hay Shed

      281.33 acres of farmland with excellent yield history.
      02 E 44th Street N, Newton, IA 50208
      View Details
    • $1.00

      Productive Farmland Tract For Sale

      77.85 acres of farmland with high soil rating.
      01 E 44th Street N, Newton, IA 50208
      View Details
    • $199,000

      Versatile Commercial Building in Newton

      High-visibility Newton building with full kitchen, bar, and furniture.
      111 E 2nd Street S, Newton, IA 50208
      View Details
    • $1.00
      514 SF

      Multifamily Condo Units Portfolio Package

      Fifteen condo units offered as a portfolio package for sale.
      104 1st Avenue E, Newton, IA 50208
      View Details
    • $1.00

      Productive Farmland Auction in Newton, Iowa

      281.33 acres of farmland for sale in Jasper County, Iowa.
      03 County Highway T12 E, Newton, IA 50208
      View Details
    • $1.00

      Iowa Farmland Auction - Jasper

      Productive farmland tract with excellent yield history near Newton, Iowa.
      04 County Highway T12 E, Newton, IA 50208
      View Details

    FAQs

    What type of property is this?
    Duplex - Updated duplex with separate units, new roof and mini-splits.
    Where is this duplex located?
    The property is located at 502 E 12th Street S Newton, IA.
    What is the asking price?
    The asking price for this property is $189,900.
    What are key features of this property?
    This property features: New roof installed in 2026 on both the house and detached two‑stall garage.; Substantially updated property with new siding, fascia, soffit, windows, and updated electrical.; **New mini‑split systems installed in both units in 2026, providing high‑efficiency heating and cooling.**
    (641) 521-0302
    We can help!
    Listing Contact
    Jo Jenkins
    Jo Jenkins
    Real Estate License ID: B26487001
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    502 E 12th Street S, Newton, IA 50208
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!