Three-Unit Brick
For Sale
$250,000
213 McLane Avenue, Morgantown, WV 26505
Multi-Unit/Income, Morgantown, WV
Property Size3,583 SF
Lot Size0.20 Acres
Price / SF$69.77
Days on Market71
Property Features for 213 McLane Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Single Family Residential
Bedrooms
9
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 9, Bedroom 6, Bedroom 8, Bathroom 1, Bedroom 7, Bathroom 2, Bathroom 3, Bedroom 3, Bathroom 4, Bedroom 1, Bathroom 5, Basement
Parking features
Off Street, Carport
Patio and Porch features
Porch
Exterior features
Porch
Appliances
Range, Refrigerator
Lot features
Easements
View
City
Elementary school
Eastwood Elementary
Middle school
Mountaineer Middle
High school
Morgantown High
Elementary school district
Monongalia
Middle school district
Monongalia
High school district
Monongalia
Directions
Beechurst Avenue turn onto 3rd Street. Right onto Grant Avenue. Right onto Houston Drive (at Summit Hall). Left onto McLane Avenue. Home will be the second house on your right.
Subdivision
Monongalia/Morgantown
Standard status
Active
Size
3,583 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BL 7 Lot 7 213 McLane Avenue
Tax Annual Amount
4085
Legal Description
BL 7 Lot 7 213 McLane Avenue
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Window Unit(s)
Building Details
Year built
1916
Floors in Building
4
Number of units
3
Flooring type
Carpet - Full, Vinyl
Building materials
Brick
Roof type
Shingle, Rubber
Listing Agency:
HOWARD HANNA PREMIER PROPERTIES BY BARBARA ALEXANDER, LLC
(304) 594-0115
Listed By:
TRAVIS DOAK · License #WVS200301267
(304) 216-2203
Added: Jul 17
Changed: Sep 13
Last Checked: Sep 25 at 10:06PM
MLS# 10165549
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.
Located at 213 McLane Avenue in Morgantown, this 3,583-square-foot brick triplex contains three units with a combined total of nine bedrooms and five bathrooms. The 0.196-acre property was built in 1916 and includes a basement, porch, carport, and off-street parking. Interior features include vinyl and full carpet flooring, ranges, refrigerators, forced-air natural gas heating, and window-unit cooling.
The property is near WVU’s Downtown Campus and is zoned Single Family Residential. Its roofing includes rubber and shingle materials, while the exterior construction is brick. The configuration, bedroom count, and proximity to the campus provide a defined residential income-property profile at a Morgantown address.
The property is near WVU’s Downtown Campus and is zoned Single Family Residential. Its roofing includes rubber and shingle materials, while the exterior construction is brick. The configuration, bedroom count, and proximity to the campus provide a defined residential income-property profile at a Morgantown address.
Key Highlights
- Three units with nine total bedrooms and five bathrooms
- 3,583 square feet on a 0.196‑acre lot
- Near WVU’s Downtown Campus
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
$22,187
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
8.87%
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%
$443,740
$443.7K
Cap Rate 7%
$316,957
$317.0K
Cap Rate 9%
$246,522
$246.5K
Market Conditions
NOI Build-Up for 3,583 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
$32.2K $9.00/SF
− Vacancy
−$551 −$0.15/SF
EGI
$31.7K $8.85/SF
− OpEx
−$9.5K −$2.65/SF
NOI
$22.2K $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%
$443,740
Cap Rate 7%
$316,957
Cap Rate 9%
$246,522
Alternative Uses
Best Use
Multifamily LT 5
$317.0K
$277.3K – $369.8K
NOI $22,187 @ 7.0% cap · market cap 8.87%
Second Best
Apartment 5plus
$291.9K
$255.4K – $340.6K
NOI $20,435 @ 7.0% cap · market cap 8.17%
Theoretical Best
Office A
$1.03M
$903.8K – $1.21M
NOI $72,306 @ 7.0% cap · market cap 28.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
678
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
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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?
Triplex - Residential property with off-street parking, a carport, porch, and five bathrooms.
Where is this triplex located?
The property is located at 213 McLane Avenue Morgantown, WV.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Three units with nine total bedrooms and five bathrooms; 3,583 square feet on a 0.196‑acre lot; Near WVU’s Downtown Campus
