Duplex with Separate
For Sale
$223,000
321 And 323 Riverview Ave, Westover, WV 26501
One unit is vacant, while the other is leased through August 2027.
Property Size1,750 SF
Price / SF$127.43
Days on Market8
Property Features for 321 And 323 Riverview Ave
General Information
Standard status
Active
Size
1,750 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,327
Amenities
off-street parking
large backyard
Building Details
Buildings
1
Listing Agency:
REAL BROKER, LLC
(804) 855-4528
Listed By:
Austyn Skeen
(804) 855-4528
Source:
Exprealty
Added: Aug 24
Changed: Aug 31
Last Checked: Aug 31 at 8:34AM
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 REAL BROKER, LLC
Investment Insights
Based on property information with market context.
This 1,750-square-foot duplex includes two residential units with separate utility service. One side is vacant for occupancy, and the other is subject to a lease extending through August 2027. The property also provides off-street parking and a large backyard.
Located in Westover near I-68 and I-79, the property offers access to shopping, restaurants, downtown Morgantown, and WVU. Its combination of one available unit and one leased unit supports both owner-occupancy and rental use.
Located in Westover near I-68 and I-79, the property offers access to shopping, restaurants, downtown Morgantown, and WVU. Its combination of one available unit and one leased unit supports both owner-occupancy and rental use.
Key Highlights
- 1,750‑square‑foot duplex with two units
- Separate utilities for each unit
- One unit currently vacant
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - One unit is vacant, while the other is leased through August 2027.
Where is this duplex located?
The property is located at 321 And 323 Riverview Ave 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: 1,750‑square‑foot duplex with two units; Separate utilities for each unit; One unit currently vacant
