Updated Duplex with Attached
For Sale
$339,000
459 E BURKE Street, Martinsburg, WV 25404
Multi-Family, MARTINSBURG, WV
Property Size2,557 SF
Lot Size0.25 Acres
Price / SF$132.58
Days on Market26
Property Features for 459 E BURKE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Dining Room, Basement
Parking
12
Parking features
Driveway, Garage - Attached, Off Street
Interior features
Attic, Bathroom - Jetted Tub, Bathroom - Walk-In Shower, Bathroom - Stall Shower, Breakfast Area, Built-Ins, Carpet, Ceiling Fan(s), Dining Area, Chair Railings, Floor Plan - Traditional, Formal/Separate Dining Room, Kitchen - Country, Water Treat System
Fireplace
1
Appliances
Dishwasher, Disposal, Dryer, Microwave, Oven/Range - Electric, Refrigerator, Stainless Steel Appliances, Washer, Water Conditioner - Owned, WaterHeater
Subdivision
CITY OF MARTINSBURG
High school
MARTINSBURG
Elementary school district
BERKELEY COUNTY SCHOOLS
Middle school district
BERKELEY COUNTY SCHOOLS
High school district
BERKELEY COUNTY SCHOOLS
Standard status
Active
Size
2,557 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Annual Amount
2057
Utilities
Heating system
Forced Air
Cooling system
Heat Pump, Central Air, Ceiling Fan(s)
Amenities
central HVAC
cold storage
garage
EV charging
rear patio
privacy-fenced yard
Building Details
Year built
1906
Number of units
1
Building materials
Asphalt, BattsInsulation, Concrete, CPVC/PVC, Galvanized Plumbing, Glass, Brick, Vinyl Siding, Tile, Stick Built, Rock
Architectural style
Colonial
Listing Agency:
Samson Properties
(304) 918-2740
Listed By:
Andrew R Fultz · License #WV0029152
(540) 917-5386
Added: Aug 7
Changed: Aug 31
Last Checked: Sep 1 at 5:06AM
MLS# WVBE2053482
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 2,557-square-foot Colonial duplex, built in 1906, combines a four-bedroom, two-bath main residence with a separate 1-bedroom, 1-bathroom apartment positioned above an attached 3-car garage. The primary residence includes central air, heat pump cooling, forced-air natural gas heat, fresh interior paint, a traditional floor plan, dining areas, and cold storage beneath the front porch. A newer architectural shingle roof, Level 2 EV charging, rear patio, and privacy fencing add practical improvements.
The property sits on 0.2477 acres at 459 E BURKE Street in Martinsburg, WV 25404. Parking is available through the attached garage, driveway, and off-street areas. The apartment is fully rented, providing an existing residential income component alongside the owner-occupied or separately managed main residence.
The property sits on 0.2477 acres at 459 E BURKE Street in Martinsburg, WV 25404. Parking is available through the attached garage, driveway, and off-street areas. The apartment is fully rented, providing an existing residential income component alongside the owner-occupied or separately managed main residence.
Key Highlights
- 2,557‑square‑foot duplex on 0.2477 acres
- Four‑bedroom, two‑bath main residence
- 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
Lease Details
2
Residential units
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Colonial configuration pairs a four-bedroom main residence with a fully rented apartment.
Where is this duplex located?
The property is located at 459 E BURKE Street 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 on 0.2477 acres; Four‑bedroom, two‑bath main residence; Fully rented 1‑bedroom, 1‑bathroom apartment
