Multifamily
For Sale
$290,000
Pending
824 E 12th St S, Newton, IA 50208
Constructed in 1975 and located on E 12th St S in Newton.
Property Size1,920 SF
Days on Market17
Property Features for 824 E 12th St S
General Information
Standard status
Pending
Size
1,920 SF
Property subtype
Multi-Family
Building Details
Year Built
1975
Listing Agency:
Pennie Carroll & Associates
(515) 783-9815
Listed By:
Home Sweet Des Moines
(515) 783-9815
Source:
Homesweetdesmoines
Added: Aug 15
Changed: Aug 31
Last Checked: Aug 31 at 2:37PM
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 Pennie Carroll & Associates
Investment Insights
Based on property information with market context.
This multifamily property contains 1,920 square feet and was constructed in 1975. The asset is located at 824 E 12th St S in Newton, Iowa 50208.
Key Highlights
- 1,920 square feet of multifamily property
- Constructed in 1975
- Located at 824 E 12th St S, Newton, IA 50208
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
$11,570
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
3.99%
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%
$231,400
$231.4K
Cap Rate 7%
$165,286
$165.3K
Cap Rate 9%
$128,556
$128.6K
Market Conditions
NOI Build-Up for 1,920 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 $12.00/SF
− Vacancy
−$2.0K −$1.04/SF
EGI
$21.0K $10.96/SF
− OpEx
−$9.5K −$4.93/SF
NOI
$11.6K $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%
$231,400
Cap Rate 7%
$165,286
Cap Rate 9%
$128,556
Alternative Uses
Best Use
Apartment 5plus
$165.3K
$144.6K – $192.8K
NOI $11,570 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$1.85M
$1.62M – $2.16M
NOI $129,377 @ 7.0% cap · market cap 44.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
187
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
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Frequently Asked Questions
What type of property is this?
Multifamily property - Constructed in 1975 and located on E 12th St S in Newton.
Where is this multifamily property located?
The property is located at 824 E 12th St S Newton, IA.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: 1,920 square feet of multifamily property; Constructed in 1975; Located at 824 E 12th St S, Newton, IA 50208
