Two-Unit Duplex with Covered
New
For Sale
$299,000
304 S ILLINOIS AVENUE, Martinsburg, WV 25401
Two rented residences offer separate laundry arrangements, gas heat, and central air conditioning.
Property Size2,072 SF
Price / SF$144.31
Days on Market4
Property Features for 304 S ILLINOIS AVENUE
General Information
Standard status
Active
Size
2,072 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
laundry room with hooks for washer/dryer
covered porch
shared back yard
central A/C
gas furnace
attic storage
stackable washer and dryer
front porch
shed
basement
Building Details
Year Built
1930
Buildings
1
Tenancy
Multi
Listing Agency:
Potomac Housing Realtors, LLC
(304) 267-1556
Listed By:
Suzanne M Taylor · License #10388
(304) 671-8293
Source:
Cummingsrealtors
Added: Oct 9
Changed: Oct 11
Last Checked: Oct 11 at 2:38PM
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 Potomac Housing Realtors, LLC
Investment Insights
Based on property information with market context.
Built in 1930, this duplex contains two two-bedroom, one-bath residences. The first-floor unit has vinyl plank flooring, a laundry room with washer and dryer hookups, and rear access to a covered porch. The second-floor unit includes attic storage, an in-unit stackable washer and dryer, and a front porch. Both units have central air conditioning and gas furnaces.
The property also includes a shared backyard, a large shed, and a basement with exterior access to the water heaters and furnaces. Two parking spaces are located off the alley for the first-floor unit; the second-floor unit has on-street parking.
The property also includes a shared backyard, a large shed, and a basement with exterior access to the water heaters and furnaces. Two parking spaces are located off the alley for the first-floor unit; the second-floor unit has on-street parking.
Key Highlights
- Duplex with two rented units, each configured with 2 bedrooms and 1 bath
- Built in 1930
- First‑floor unit has vinyl plank flooring, laundry hookups, and rear access to a covered porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,859
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$197,180
$197.2K
Cap Rate 7%
$140,843
$140.8K
Cap Rate 9%
$109,544
$109.5K
Market Conditions
NOI Build-Up for 2,072 SF
Gross rent
$14.7K $7.08/SF
− Vacancy
−$585 −$0.28/SF
EGI
$14.1K $6.80/SF
− OpEx
−$4.2K −$2.04/SF
NOI
$9.9K $4.76/SF
Area
Berkeley County, WV
Vacancy
3.99%
Lease Rate
$7.08 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$197,180
Cap Rate 7%
$140,843
Cap Rate 9%
$109,544
Alternative Uses
Best Use
Multifamily LT 5
$140.8K
$123.2K – $164.3K
NOI $9,859 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$129.1K
$113.0K – $150.7K
NOI $9,040 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$375.1K
$328.2K – $437.6K
NOI $26,256 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
827
Businesses Nearby
Explore this area
Business Placement
Demographics for 25401, WV
15,086
Population
6,841
Households
2.2
Avg Household Size
38
Median Age
23%
College-Educated
86%
High-School Grad
5.8 sq mi
ZIP Area
2,601
Density / Sq Mi
$49,157
Median Household Income
$33,147
Median Earnings
$1,014
Median Rent
$221,500
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?
Duplex - Two rented residences offer separate laundry arrangements, gas heat, and central air conditioning.
Where is this duplex located?
The property is located at 304 S ILLINOIS AVENUE Martinsburg, WV.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Duplex with two rented units, each configured with 2 bedrooms and 1 bath; Built in 1930; First‑floor unit has vinyl plank flooring, laundry hookups, and rear access to a covered porch
