5-Unit Apartment
53 E 13th St, Newton, NC 28658
For Sale
$1,000,000
New construction combines modern finishes, dedicated parking, and tenant-paid unit utilities for a straightforward multifamily ownership structure.
Property Size5,350 SF
Price / SF$186.92
Days on Market92
Property Features for 53 E 13th St
General Information
Standard status
Size
Property subtype
Units
Multifamily Units
Parking per Unit
Building Details
Year Built
Listing Agency:
Fathom Realty NC LLC
Listed By:
Charlie Moore · License NC #813732
(917) 442-8818
Source:
Highperformancerea
Added: Aug 14
Changed: Oct 25
Last Checked: Oct 7 at 3:42PM
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 NC LLC
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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 / Yr
$44,904
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
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
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 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 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,397 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
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 $1,000,000.
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
