Updated Duplex with Attached
New
For Sale
$339,000
459 E Burke St, Martinsburg, WV 25404
Two separate living areas pair with extensive parking, a fenced yard, and Level 2 EV charging.
Property Size2,557 SF
Price / SF$132.58
Days on Market4
Property Features for 459 E Burke St
General Information
Standard status
Active
Size
2,557 SF
Property subtype
Multi-Family
Building Details
Year Built
1906
Listing Agency:
Samson Properties
Listed By:
Andrew R Fultz · License #WV0029152
(304) 940-5125
Source:
Kableteam
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 4 at 10:35AM
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 Samson Properties
Investment Insights
Based on property information with market context.
This duplex combines a primary residence with a separate apartment in a 2,557-square-foot property built in 1906. The main home offers 4 bedrooms, including a room suited for office use, along with 2 full bathrooms, central HVAC, natural gas heat, fresh interior paint, and cold storage beneath the front porch. The attached 3-car garage includes Level 2 EV charging.
The upper apartment contains 1 bedroom and 1 bathroom and is fully rented. Additional exterior features include off-street and driveway parking, a rear patio, a fully privacy-fenced yard, and a newer architectural shingle roof. The property is located at 459 E Burke St in Martinsburg, WV 25404.
The upper apartment contains 1 bedroom and 1 bathroom and is fully rented. Additional exterior features include off-street and driveway parking, a rear patio, a fully privacy-fenced yard, and a newer architectural shingle roof. The property is located at 459 E Burke St in Martinsburg, WV 25404.
Key Highlights
- 2,557‑square‑foot duplex built in 1906
- Main residence includes 4 bedrooms and 2 full bathrooms
- Fully rented 1‑bedroom, 1‑bathroom apartment
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
$12,167
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
3.59%
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%
$243,340
$243.3K
Cap Rate 7%
$173,814
$173.8K
Cap Rate 9%
$135,189
$135.2K
Market Conditions
NOI Build-Up for 2,557 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
$18.1K $7.08/SF
− Vacancy
−$722 −$0.28/SF
EGI
$17.4K $6.80/SF
− OpEx
−$5.2K −$2.04/SF
NOI
$12.2K $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 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%
$243,340
Cap Rate 7%
$173,814
Cap Rate 9%
$135,189
Alternative Uses
Best Use
Multifamily LT 5
$173.8K
$152.1K – $202.8K
NOI $12,167 @ 7.0% cap · market cap 3.59%
Second Best
Apartment 5plus
$159.4K
$139.5K – $185.9K
NOI $11,156 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$462.9K
$405.0K – $540.0K
NOI $32,402 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
641
Businesses Nearby
Explore this area
Business Placement
Demographics for 25404, WV
23,034
Population
9,973
Households
2.3
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
37.9 sq mi
ZIP Area
608
Density / Sq Mi
$68,897
Median Household Income
$42,976
Median Earnings
$1,228
Median Rent
$226,900
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 - Two separate living areas pair with extensive parking, a fenced yard, and Level 2 EV charging.
Where is this duplex located?
The property is located at 459 E Burke St Martinsburg, WV.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: 2,557‑square‑foot duplex built in 1906; Main residence includes 4 bedrooms and 2 full bathrooms; Fully rented 1‑bedroom, 1‑bathroom apartment
