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    Morgantown Multifamily Investment Opportunity Title is generated by Realmo AI

    150 Wellen Avenue, Morgantown, WV 26505

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    Claim this Listing
    For Sale
    Under Contract
    $165,000

    MULTI_FAMILY - Morgantown, WV

    Property size:
    9,514 SF
    Price / SF:
    $17/SF
    Added:
    May 22, 2026
    Days on Market:
    10
    Last Refresh:
    May 31 at 2:06 pm

    Property Features for 150 Wellen Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Single Family Residential
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bedroom 2, Basement, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 3
    Parking features
    Off Street
    Patio and Porch features
    Deck, Porch
    Interior features
    Electric Stove Connection, Washer Connection, Electric Dryer Connection
    Exterior features
    Porch, Deck
    Appliances
    Range, Refrigerator, Washer, Dryer
    Standard status
    Active Under Contract
    Size
    9,514 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    BL Y PT LOTS 8,9,10 150 WELLEN AVE
    Tax Annual Amount
    1904

    Utilities

    Heating system
    Baseboard, Electric (Heating)
    Cooling system
    Ceiling Fan(s), Window Unit(s)

    Building Details

    Year built
    1910
    Floors in Building
    3
    Number of units
    2
    Flooring type
    Laminate, Carpet - Full, Vinyl
    Building materials
    Frame
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    JASMIN PATRICK

    Listing agent JASMIN PATRICK

    Listing office BEL-CROSS PROPERTIES, LLC 76 High Street, Morgantown, WV

    Listing date May 22, 2026

    MLS# 10164903 Listing URL

    Copyright © 2026 North Central West Virginia Real Estate Information Network. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully leased through 2027, providing immediate rental income.
    • Located near WVU downtown campus, offering convenient access for students and faculty.
    • Updated LOC (License of Occupancy) valid through 1/11/2029.
    • Two units with tenants paying all utilities.
    • Includes essential appliances: range, refrigerator, washer, and dryer in both units.
    • Off‑street parking available for 2+ cars.

    Overview

    This multifamily property in Morgantown, WV, presents an investment opportunity with two units fully leased through 2027. The property includes a gravel parking lot with space for two or more cars. Both units are equipped with electric baseboard heat, window AC units, ceiling fans, a refrigerator, a range, and a washer and dryer. Tenants are responsible for all utility payments. The property is located near the WVU downtown campus, with a short drive to hospitals and the medical center, and a short distance to the football stadium. It is also situated on a public transit route. Unit A is leased at a monthly rate of $800, with the lease valid through July 22, 2027. Unit B is currently leased at $650 per month until July 24, 2026, with a new tenant moving in on August 5, 2026, at a monthly rate of $700. The property has an updated LOC (Letter of Compliance) valid through January 11, 2029, through the city of Morgantown. The property is zoned for Single Family Residential use and has a property size of 9514 Square Feet.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Morgantown
    County
    Monongalia
    State
    West Virginia
    Longitude
    -79.95154
    Latitude
    39.6402

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    FAQs

    What type of property is this?
    Duplex - Two-unit property fully leased through 2027 near WVU campus.
    Where is this duplex located?
    The property is located at 150 Wellen Avenue Morgantown, WV.
    What is the asking price?
    The asking price for this property is $165,000.
    What are key features of this property?
    This property features: Fully leased through 2027, providing immediate rental income.; Located near WVU downtown campus, offering convenient access for students and faculty.; Updated LOC (License of Occupancy) valid through 1/11/2029.
    (304) 276-4370
    We can help!
    Listing Contact
    JASMIN PATRICK
    Learn More
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    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.

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