5-Unit Apartment
For Sale
Contact for pricing
53 E 13th St, Newton, NC 28658
New construction combines modern finishes, dedicated parking, and tenant-paid unit utilities for a straightforward multifamily ownership structure.
Property Size5,350 SF
Price / SF$200
Days on Market9
Property Features for 53 E 13th St
General Information
Standard status
Active
Size
5,350 SF
Property subtype
Multifamily
Zoning
M1
Units
Multifamily Units
5
Parking per Unit
2
Building Details
Year Built
2026
Units
5
Listing Agency:
Fathom Realty
(917) 442-8818
Listed By:
Charlie Moore · License #813732
Source:
Crexi
Added: Aug 7
Changed: Aug 15
Last Checked: Aug 15 at 3:42AM
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 Fathom Realty
Investment Insights
Based on property information with market context.
Completed in 2026, this 5-unit apartment property contains 5,350 square feet and is configured for contemporary residential living. Each unit features an open layout, quartz countertops, stainless steel appliances, luxury vinyl plank flooring, and two dedicated parking spaces. Mono-slab foundations support the building, while newly installed major systems are covered by builder warranties. The property is zoned M1.
The asset is located in Downtown Newton, approximately 20 minutes from Hickory and less than an hour from Charlotte. Shopping, dining, employers, and major commuter routes are nearby. Tenants are responsible for utilities and routine expenses within their respective units.
The asset is located in Downtown Newton, approximately 20 minutes from Hickory and less than an hour from Charlotte. Shopping, dining, employers, and major commuter routes are nearby. Tenants are responsible for utilities and routine expenses within their respective units.
Key Highlights
- 5‑unit multifamily property totaling 5,350 square feet
- Built in 2026 with mono‑slab foundations
- Each unit includes an open floor plan, quartz countertops, stainless steel appliances, and luxury vinyl plank flooring
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
$44,904
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
4.20%
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%
$898,080
$898.1K
Cap Rate 7%
$641,486
$641.5K
Cap Rate 9%
$498,933
$498.9K
Market Conditions
NOI Build-Up for 5,350 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
$86.7K $16.20/SF
− Vacancy
−$5.0K −$0.94/SF
EGI
$81.6K $15.26/SF
− OpEx
−$36.7K −$6.87/SF
NOI
$44.9K $8.39/SF
Area
Catawba County, NC
Vacancy
5.80%
Lease Rate
$16.20 /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%
$898,080
Cap Rate 7%
$641,486
Cap Rate 9%
$498,933
Alternative Uses
Best Use
Apartment 5plus
$641.5K
$561.3K – $748.4K
NOI $44,904 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,397 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
358
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?
Apartment building - New construction combines modern finishes, dedicated parking, and tenant-paid unit utilities for a straightforward multifamily ownership structure.
Where is this apartment building located?
The property is located at 53 E 13th St Newton, NC.
What is the asking price?
The asking price for this property is $1,070,000.
What are key features of this property?
This property features: 5‑unit multifamily property totaling 5,350 square feet; Built in 2026 with mono‑slab foundations; Each unit includes an open floor plan, quartz countertops, stainless steel appliances, and luxury vinyl plank flooring
