Ranch Duplex with Separate
New
For Sale
$223,000
321 and 323 Riverview Avenue, Westover, WV 26501
Multi-Unit/Income, Ranch, Westover, WV
Property Size1,750 SF
Lot Size0.20 Acres
Price / SF$127.43
Days on Market3
Property Features for 321 and 323 Riverview Avenue
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
Single Family Residential
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 2, Basement, Bathroom 1, Bedroom 6, Bedroom 1
Parking features
Off Street
Patio and Porch features
Deck, Porch
Interior features
Electric Dryer Connection, Electric Stove Connection, Gas Stove Connection, Washer Connection
Exterior features
Deck, Porch, Private Yard
Appliances
Dryer, Range, Refrigerator, Washer
Lot features
Level
Elementary school
Skyview Elementary
Middle school
Westwood Middle
High school
Morgantown High
Elementary school district
Monongalia
Middle school district
Monongalia
High school district
Monongalia
Directions
I-79 N to exit 152. US-19 toward Westover. Right onto Fairmont Rd. Left onto Riverview Ave. Subject property on left.
Subdivision
Monongalia/Morgantown
Standard status
Active
Size
1,750 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 28 Morgan HTS
Tax Annual Amount
1327
Legal Description
Lot 28 Morgan HTS
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Electric, Central Air
Amenities
off-street parking
large backyard
Building Details
Year built
1940
Floors in Building
1
Number of units
2
Flooring type
Tile, Wood, Vinyl
Building materials
Block, Frame
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
REAL BROKER, LLC
(304) 282-1184
Listed By:
AUSTYN SKEEN
(804) 855-4528
Added: Aug 24
Changed: Aug 25
Last Checked: Aug 26 at 9:06AM
MLS# 10166600
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.
This ranch-style duplex contains 1,750 square feet on a 0.203-acre parcel and was built in 1940. The property includes two separate utility systems, off-street parking, a large private yard, deck, and porch. Interior features include washer and dryer connections, stove connections, tile, wood, and vinyl flooring, along with central air and natural-gas forced-air heat. Appliances include a washer, dryer, range, and refrigerator.
One unit is vacant for immediate occupancy, while the other has a lease extending through August 2027. The property is zoned Single Family Residential and is located near I-68 and I-79, with access to shopping, restaurants, downtown Morgantown, and WVU.
One unit is vacant for immediate occupancy, while the other has a lease extending through August 2027. The property is zoned Single Family Residential and is located near I-68 and I-79, with access to shopping, restaurants, downtown Morgantown, and WVU.
Key Highlights
- Duplex totaling 1,750 square feet on 0.203 acres
- Separate utilities for each unit
- One unit vacant; the other leased through August 2027
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
$10,836
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
4.86%
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%
$216,720
$216.7K
Cap Rate 7%
$154,800
$154.8K
Cap Rate 9%
$120,400
$120.4K
Market Conditions
NOI Build-Up for 1,750 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
$15.8K $9.00/SF
− Vacancy
−$269 −$0.15/SF
EGI
$15.5K $8.85/SF
− OpEx
−$4.6K −$2.65/SF
NOI
$10.8K $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%
$216,720
Cap Rate 7%
$154,800
Cap Rate 9%
$120,400
Alternative Uses
Best Use
Multifamily LT 5
$154.8K
$135.5K – $180.6K
NOI $10,836 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$142.6K
$124.8K – $166.4K
NOI $9,981 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$504.5K
$441.4K – $588.6K
NOI $35,315 @ 7.0% cap · market cap 15.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
409
Businesses Nearby
Explore this area
Business Placement
Demographics for 26501, WV
19,200
Population
9,541
Households
2
Avg Household Size
38
Median Age
45%
College-Educated
94%
High-School Grad
58.5 sq mi
ZIP Area
328
Density / Sq Mi
$62,173
Median Household Income
$34,949
Median Earnings
$914
Median Rent
$213,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - One side is vacant, while the other is leased through August 2027.
Where is this duplex located?
The property is located at 321 and 323 Riverview Avenue Westover, WV.
What is the asking price?
The asking price for this property is $223,000.
What are key features of this property?
This property features: Duplex totaling 1,750 square feet on 0.203 acres; Separate utilities for each unit; One unit vacant; the other leased through August 2027
