2-Unit Duplex with Shared
New
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 Market2
Property Features for 304 S ILLINOIS Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Dining Room, Basement
Parking
2
Parking features
Off Street, On 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
Taxes and HOA fees
Tax Annual Amount
2479
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
vinyl plank flooring
laundry room with hooks
covered porch
shared back yard
gas furnace
central A/C
attic storage
stackable washer and dryer
front porch
large shed
basement
Building Details
Year built
1930
Number of units
2
Building materials
Vinyl Siding
Architectural style
Colonial
Listing Agency:
Potomac Housing Realtors, LLC
(304) 267-1556
Listed By:
Suzanne M Taylor · License #10388
(304) 671-8293
Added: Oct 9
Last Checked: Oct 10 at 12:06PM
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.
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 room with washer and dryer connections, and rear access to a covered porch. The second-floor apartment includes a 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. Parking includes two spaces off the alley for the first-floor unit, along with on-street parking. A basement with exterior access contains the water heaters and furnace equipment. Built in 1930, the duplex has vinyl siding.
The property occupies a 0.1322-acre lot with a shared backyard and a large shed. Parking includes two spaces off the alley for the first-floor unit, along with on-street parking. A basement with exterior access contains the water heaters and furnace equipment. Built in 1930, the duplex has vinyl siding.
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 connections
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
100%
Occupancy
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 - Both apartments are rented and have two bedrooms, one bath, and distinct laundry setups.
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 connections
