Two-Unit
For Sale
$299,000
304 S ILLINOIS Avenue, Martinsburg, WV 25401
Multi-Family, MARTINSBURG, WV
Property Size2,072 SF
Lot Size0.13 Acres
Price / SF$144.31
Days on Market21
Property Features for 304 S ILLINOIS Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement, Dining Room
Parking
2
Parking features
On Street, Off Street
Interior features
Attic, Bathroom - Tub Shower, Combination Kitchen/Dining, Floor Plan - Traditional
Appliances
Dishwasher, Oven/Range - Electric, Refrigerator
Elementary school district
BERKELEY COUNTY SCHOOLS
Middle school district
BERKELEY COUNTY SCHOOLS
High school district
BERKELEY COUNTY SCHOOLS
Standard status
Active
Size
2,072 SF
Lot size
0.13 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
2479
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
covered porch
front porch
shared backyard
stackable washer/dryer
attic storage
shed
basement
Building Details
Year built
1930
Number of units
2
Building materials
Vinyl Siding
Architectural style
Colonial
Buildings
1
Listing Agency:
Potomac Housing Realtors, LLC
(304) 267-1556
Listed By:
Suzanne M Taylor · License #10388
(304) 671-8293
Added: Oct 9
Changed: Oct 27
Last Checked: Oct 29 at 3:06PM
MLS# WVBE2055102
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,072-square-foot duplex contains two rented apartments, each with two bedrooms and one bathroom. The first-floor unit has vinyl plank flooring throughout, a laundry area with washer and dryer hookups, and access to a covered rear porch. The second-floor apartment includes an in-unit stackable washer and dryer, attic storage, and a front porch. Both units have central air conditioning and gas furnaces.
The property occupies a 0.1322-acre lot with a shared backyard and a large shed. Two off-street spaces are available to the first-floor unit from the alley; the second-floor unit has on-street parking. A basement with exterior access contains the water heaters and furnaces.
The property occupies a 0.1322-acre lot with a shared backyard and a large shed. Two off-street spaces are available to the first-floor unit from the alley; the second-floor unit has on-street parking. A basement with exterior access contains the water heaters and furnaces.
Key Highlights
- Two rented apartments, each with 2 bedrooms and 1 bathroom
- 2,072 square feet on a 0.1322‑acre lot
- First‑floor unit has vinyl plank flooring and washer/dryer hookups
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both apartments are rented and offer two bedrooms and one bathroom.
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: Two rented apartments, each with 2 bedrooms and 1 bathroom; 2,072 square feet on a 0.1322‑acre lot; First‑floor unit has vinyl plank flooring and washer/dryer hookups
