Two-Unit Duplex with
New
For Sale
$189,900
348 Wilson Avenue, Morgantown, WV 26501
Multi-Unit/Income, Traditional, Morgantown, WV
Property Size2,518 SF
Lot Size0.07 Acres
Price / SF$75.42
Days on Market1
Property Features for 348 Wilson Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Neighborhood Mix Use
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 4, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 5, Bedroom 2, Basement, Bedroom 1
Patio and Porch features
Porch, Deck
Interior features
Walk-up Attic, Washer Connection, Electric Dryer Connection
Exterior features
Porch, Deck
Appliances
Range, Refrigerator
Lot features
Level
View
City
Elementary school
Mountainview Elementary
Middle school
South Middle
High school
Morgantown High
Elementary school district
Monongalia
Middle school district
Monongalia
High school district
Monongalia
Directions
From Sabraton continue on WV-7 W/Earl L Core Rd. Take White Ave to Wilson Ave. Turn right onto WV-7 W/Earl L Core Rd. Turn left onto Green Bag Rd. Continue straight onto Deckers Creek Blvd. Turn Left onto White Ave. Turn left onto Wilson Ave.
Subdivision
Monongalia/Morgantown
Standard status
Active
Size
2,518 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BL 1, PT LOT2, 348 Wilson Ave
Tax Annual Amount
3342
Legal Description
BL 1, PT LOT2, 348 Wilson Ave
Utilities
Heating system
Baseboard, Natural Gas, Other (Heating)
Cooling system
Ceiling Fan(s)
Building Details
Year built
1915
Floors in Building
3
Number of units
2
Flooring type
Carpet - Full, Vinyl, Laminate
Building materials
Frame
Roof type
Shingle
Architectural style
Other
Listing Agency:
BEL-CROSS PROPERTIES, LLC
(304) 296-7930
Listed By:
DESTINY SYLVESTER · License #WVS190300676
(304) 685-9287
Added: Aug 21
Last Checked: Aug 21 at 6:06PM
MLS# 10166558
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 2,518-square-foot duplex, built in 1915, contains two separate residences. The upper unit has 3 bedrooms, 2 bathrooms, a washer and dryer, and an upper porch. The lower unit includes 2 bedrooms, 1 bathroom, and a private back porch. Interior features include a walk-up attic, baseboard heating, natural gas, ceiling fans, range appliances, and refrigerators. The frame structure has a shingle roof and a combination of carpet, vinyl, and laminate flooring.
Located at 348 Wilson Avenue in Morgantown’s South Park area, the property is near downtown Morgantown, WVU’s Downtown Campus, Morgantown High School, restaurants, parks, trails, coffee shops, and the rail trail. Street parking serves the property. The parcel contains 0.073 acres and is zoned Neighborhood Mix Use. Existing leases run through July 22nd, 2027, and tenants pay all utilities.
Located at 348 Wilson Avenue in Morgantown’s South Park area, the property is near downtown Morgantown, WVU’s Downtown Campus, Morgantown High School, restaurants, parks, trails, coffee shops, and the rail trail. Street parking serves the property. The parcel contains 0.073 acres and is zoned Neighborhood Mix Use. Existing leases run through July 22nd, 2027, and tenants pay all utilities.
Key Highlights
- Two‑unit duplex with 2,518 square feet of building area
- Upper residence has 3 bedrooms, 2 bathrooms, washer and dryer, and an upper porch
- Lower residence includes 2 bedrooms, 1 bathroom, and a private back porch
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
$15,592
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
8.21%
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%
$311,840
$311.8K
Cap Rate 7%
$222,743
$222.7K
Cap Rate 9%
$173,244
$173.2K
Market Conditions
NOI Build-Up for 2,518 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
$22.7K $9.00/SF
− Vacancy
−$388 −$0.15/SF
EGI
$22.3K $8.85/SF
− OpEx
−$6.7K −$2.65/SF
NOI
$15.6K $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%
$311,840
Cap Rate 7%
$222,743
Cap Rate 9%
$173,244
Alternative Uses
Best Use
Multifamily LT 5
$222.7K
$194.9K – $259.9K
NOI $15,592 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$205.2K
$179.5K – $239.4K
NOI $14,361 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$725.9K
$635.2K – $846.9K
NOI $50,814 @ 7.0% cap · market cap 26.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,144
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 - Separate residences offer distinct layouts, outdoor space, and tenant-paid utilities in an established Morgantown neighborhood.
Where is this duplex located?
The property is located at 348 Wilson Avenue Morgantown, WV.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,518 square feet of building area; Upper residence has 3 bedrooms, 2 bathrooms, washer and dryer, and an upper porch; Lower residence includes 2 bedrooms, 1 bathroom, and a private back porch
