2-Unit
301 Richwood Avenue, Morgantown, WV 26505
For Sale
New
$220,000
Multi-Unit/Income, Traditional, Morgantown, WV
Property Size1,680 SF
Lot Size0.14 Acres
Price / SF$130.95
Days on Market4
Property Features for 301 Richwood Avenue
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Interior features
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Elementary school
Middle school
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High school district
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Taxes and HOA fees
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Building Details
Year built
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Number of units
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Listing Agency:
THE AGENCY - MORGANTOWN
(304) 212-2500
Listed By:
CASEY WESTFALL
(910) 401-7520
Added: Nov 11
Last Checked: Nov 14 at 1:06AM
MLS# 10167807
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.
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Investment Insights
Based on property information with market context.
Configured as two separate residences, this 1,680-square-foot duplex has independent entrances and addresses at 301 Richwood Ave and 500 Pearl Ave. The 0.14-acre property was built in 1910 and is zoned Single & Two Family. Interior features include five bedrooms, two bathrooms, a basement, vinyl and carpet flooring, and some window treatments. A balcony, off-street parking, natural gas heat, ceiling fans, and window-unit cooling are also present. Appliances include a range, refrigerator, washer, and dryer.
The property is a short drive from downtown Morgantown and WVU's downtown campus. Restaurants, shopping, and entertainment are also nearby.
The property is a short drive from downtown Morgantown and WVU's downtown campus. Restaurants, shopping, and entertainment are also nearby.
Key Highlights
- Two separate residential units with distinct entrances
- 1,680 square feet on a 0.14‑acre lot
- Addresses at 301 Richwood Ave and 500 Pearl Ave
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,403
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$208,060
$208.1K
Cap Rate 7%
$148,614
$148.6K
Cap Rate 9%
$115,589
$115.6K
Market Conditions
NOI Build-Up for 1,680 SF
Gross rent
$15.1K $9.00/SF
− Vacancy
−$259 −$0.15/SF
EGI
$14.9K $8.85/SF
− OpEx
−$4.5K −$2.65/SF
NOI
$10.4K $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 Rate 5%
$208,060
Cap Rate 7%
$148,614
Cap Rate 9%
$115,589
Alternative Uses
Best Use
Multifamily LT 5
$148.6K
$130.0K – $173.4K
NOI $10,403 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$136.9K
$119.8K – $159.7K
NOI $9,582 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$484.3K
$423.8K – $565.1K
NOI $33,903 @ 7.0% cap · market cap 15.41%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,420
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has its own entrance, with addresses on Richwood Avenue and Pearl Avenue.
Where is this duplex located?
The property is located at 301 Richwood Avenue Morgantown, WV.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Two separate residential units with distinct entrances; 1,680 square feet on a 0.14‑acre lot; Addresses at 301 Richwood Ave and 500 Pearl Ave
