Two-Unit Duplex with Off-Street
For Sale
Under Contract
$179,000
1951 Listravia Avenue, Morgantown, WV 26505
Multi-Unit/Income, Traditional, Morgantown, WV
Property Size1,700 SF
Lot Size0.31 Acres
Price / SF$105.29
Days on Market47
Property Features for 1951 Listravia Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Single Family Residential
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Basement, Bathroom 2, Bedroom 1, Bedroom 2
Patio and Porch features
Porch, Deck
Interior features
Electric Stove Connection, Washer Connection, Electric Dryer Connection
Exterior features
Porch, Deck, Balcony, Outside Lighting
Appliances
Range, Refrigerator, Washer, Dryer
View
City
Elementary school
Mountainview Elementary
Middle school
South Middle
High school
Morgantown High
Elementary school district
Monongalia
Middle school district
Monongalia
High school district
Monongalia
Directions
I 68 to Sabraton exit; Turn onto Rt. 7 towards Morgantown. turn right onto Listravia. House is on the right.
Subdivision
Monongalia/Morgantown
Standard status
Active Under Contract
Size
1,700 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BL C Lot 14, PT Lots 1315 1951 Listravia Ave & BL C PT Lot
Tax Annual Amount
494
Legal Description
BL C Lot 14, PT Lots 1315 1951 Listravia Ave & BL C PT Lot
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Window Unit(s), Ceiling Fan(s)
Building Details
Year built
1911
Floors in Building
3
Number of units
2
Flooring type
Laminate, Wood, Carpet - Full
Building materials
Frame, Block, Wood, Concrete
Roof type
Metal
Architectural style
Other
Listing Agency:
J.S. WALKER ASSOCIATES
(304) 296-0074
Listed By:
KRISTINE CRUTCH
(304) 203-3849
Added: Jul 6
Changed: Aug 19
Last Checked: Aug 21 at 6:06AM
MLS# 10165615
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.
Investment Insights
Based on property information with market context.
This two-unit duplex offers a flexible setup: it is currently rented as a single spacious unit while maintaining a second unit within the property. The home includes upgraded electrical service and a furnace new in 2025, plus off-street parking.
Set on a 0.31-acre lot, the property has approximately 1,700 square feet of living space. Built in 1911, it features frame/block/wood/concrete construction and a metal roof. Heating is forced air with natural gas, and cooling is provided by ceiling fans and window unit(s).
Inside, there are electric stove, washer, and dryer connections, along with appliances including a range, refrigerator, washer, and dryer. The layout includes a basement, three bedrooms, and two bathrooms, and the exterior offers porch, deck, balcony, and outside lighting. For showings, 24-hour notice is required.
Set on a 0.31-acre lot, the property has approximately 1,700 square feet of living space. Built in 1911, it features frame/block/wood/concrete construction and a metal roof. Heating is forced air with natural gas, and cooling is provided by ceiling fans and window unit(s).
Inside, there are electric stove, washer, and dryer connections, along with appliances including a range, refrigerator, washer, and dryer. The layout includes a basement, three bedrooms, and two bathrooms, and the exterior offers porch, deck, balcony, and outside lighting. For showings, 24-hour notice is required.
Key Highlights
- 0.31‑acre lot
- Approximately 1,700 SF
- Two‑unit duplex currently rented as a single spacious unit
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
$10,527
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
5.88%
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%
$210,540
$210.5K
Cap Rate 7%
$150,386
$150.4K
Cap Rate 9%
$116,967
$117.0K
Market Conditions
NOI Build-Up for 1,700 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
$15.3K $9.00/SF
− Vacancy
−$262 −$0.15/SF
EGI
$15.0K $8.85/SF
− OpEx
−$4.5K −$2.65/SF
NOI
$10.5K $6.19/SF
Area
Monongalia County, WV
Vacancy
1.71%
Lease Rate
$9.00 /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%
$210,540
Cap Rate 7%
$150,386
Cap Rate 9%
$116,967
Alternative Uses
Best Use
Multifamily LT 5
$150.4K
$131.6K – $175.5K
NOI $10,527 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$138.5K
$121.2K – $161.6K
NOI $9,696 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$490.1K
$428.8K – $571.8K
NOI $34,306 @ 7.0% cap · market cap 19.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
174
Businesses Nearby
Explore this area
Business Placement
Demographics for 26505, WV
39,057
Population
19,220
Households
2
Avg Household Size
27
Median Age
55%
College-Educated
93%
High-School Grad
12.6 sq mi
ZIP Area
3,100
Density / Sq Mi
$42,275
Median Household Income
$24,042
Median Earnings
$942
Median Rent
$265,100
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?
Duplex - Two-unit duplex on a large lot with off-street parking, upgraded electrical service, and a new furnace in 2025.
Where is this duplex located?
The property is located at 1951 Listravia Avenue Morgantown, WV.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: 0.31‑acre lot; Approximately 1,700 SF; Two‑unit duplex currently rented as a single spacious unit
