Two-Unit Duplex with
For Sale
Contact for pricing
Pending
1905 COVERT ST, Parkersburg, WV 26101
Fully occupied duplex with two one-bedroom units, updated roofing, and off-street tenant parking.
Property Size1,104 SF
Days on Market118
Property Features for 1905 COVERT ST
General Information
Standard status
Pending
Size
1,104 SF
Total Parking Spaces
2
Property subtype
Multifamily
Occupancy
100%
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1950
Buildings
1
Stories
2
Units
2
Listing Agency:
One Team Realty
Listed By:
Dr. Kimberly Smith · License #210301367
Source:
Crexi
Added: May 20
Changed: Sep 13
Last Checked: Sep 13 at 4:55AM
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 One Team Realty
Investment Insights
Based on property information with market context.
Built in 1950, this 1,104-square-foot duplex contains two one-bedroom, one-bath units. Both units are occupied, and the owner covers all utilities other than internet. One tenant has maintained a long-term occupancy history, providing documented tenure within the property’s current rental profile.
A metal roof and gutters were installed in 2021. The property also includes a two-car carport for off-street parking. Located at 1905 Covert St in Parkersburg, West Virginia, the duplex offers a compact residential income configuration with established occupancy and separately configured units.
A metal roof and gutters were installed in 2021. The property also includes a two-car carport for off-street parking. Located at 1905 Covert St in Parkersburg, West Virginia, the duplex offers a compact residential income configuration with established occupancy and separately configured units.
Key Highlights
- Two one‑bedroom, one‑bath units
- 100% occupancy
- 1,104 square feet
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
$5,143
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
6.87%
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%
$102,860
$102.9K
Cap Rate 7%
$73,471
$73.5K
Cap Rate 9%
$57,144
$57.1K
Market Conditions
NOI Build-Up for 1,104 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
$7.8K $7.08/SF
− Vacancy
−$470 −$0.43/SF
EGI
$7.3K $6.65/SF
− OpEx
−$2.2K −$2.00/SF
NOI
$5.1K $4.66/SF
Area
Wood County, WV
Vacancy
6.01%
Lease Rate
$7.08 /SF/Yr
Expense Ratio
30.00%
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%
$102,860
Cap Rate 7%
$73,471
Cap Rate 9%
$57,144
Alternative Uses
Best Use
Multifamily LT 5
$73.5K
$64.3K – $85.7K
NOI $5,143 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$64.4K
$56.3K – $75.1K
NOI $4,505 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$304.3K
$266.3K – $355.1K
NOI $21,303 @ 7.0% cap · market cap 28.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
824
Businesses Nearby
Explore this area
Business Placement
Demographics for 26101, WV
28,337
Population
14,134
Households
2
Avg Household Size
41
Median Age
16%
College-Educated
84%
High-School Grad
30.8 sq mi
ZIP Area
920
Density / Sq Mi
$45,556
Median Household Income
$31,511
Median Earnings
$759
Median Rent
$107,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied duplex with two one-bedroom units, updated roofing, and off-street tenant parking.
Where is this duplex located?
The property is located at 1905 COVERT ST Parkersburg, WV.
What is the asking price?
The asking price for this property is $74,900.
What are key features of this property?
This property features: Two one‑bedroom, one‑bath units; 100% occupancy; 1,104 square feet
