Three-Unit Multifamily
For Sale
$165,000
505 Grant Ave, Morgantown, WV 26505
Multifamily property with two two-bedroom units and a separate studio apartment.
Property Size2,106 SF
Price / SF$78.35
Days on Market9
Property Features for 505 Grant Ave
General Information
Standard status
Active
Size
2,106 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA, 1 x studio/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,106
Listing Agency:
RED BRICK PROPERTY MANAGEMENT, LLC
(304) 322-5892
Listed By:
David Flores
(304) 322-5892
Source:
Exprealty
Added: Aug 12
Changed: Aug 20
Last Checked: Aug 20 at 1:01PM
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 RED BRICK PROPERTY MANAGEMENT, LLC
Investment Insights
Based on property information with market context.
This three-unit multifamily property contains two separate two-bedroom, one-bath residences along with a studio apartment that includes a full bath. The combined property size is 2,106 square feet, offering a compact configuration of distinct residential units within one asset.
The property is located at 505 Grant Ave in Morgantown, WV. It is offered in its present condition, with the sale structured on an AS-IS basis.
The property is located at 505 Grant Ave in Morgantown, WV. It is offered in its present condition, with the sale structured on an AS-IS basis.
Key Highlights
- Three‑unit multifamily configuration
- Two 2‑bedroom, 1‑bath units
- Studio unit with a full bath
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
$13,041
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
7.90%
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%
$260,820
$260.8K
Cap Rate 7%
$186,300
$186.3K
Cap Rate 9%
$144,900
$144.9K
Market Conditions
NOI Build-Up for 2,106 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
$19.0K $9.00/SF
− Vacancy
−$324 −$0.15/SF
EGI
$18.6K $8.85/SF
− OpEx
−$5.6K −$2.65/SF
NOI
$13.0K $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%
$260,820
Cap Rate 7%
$186,300
Cap Rate 9%
$144,900
Alternative Uses
Best Use
Multifamily LT 5
$186.3K
$163.0K – $217.4K
NOI $13,041 @ 7.0% cap · market cap 7.90%
Second Best
Apartment 5plus
$171.6K
$150.1K – $200.2K
NOI $12,011 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$607.1K
$531.2K – $708.3K
NOI $42,499 @ 7.0% cap · market cap 25.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
663
Businesses Nearby
Explore this area
Business Placement
Demographics for 26505, WV
39,057
Population
19,220
Households
2
Avg Household Size
27
Median Age
55%
College-Educated
93%
High-School Grad
12.6 sq mi
ZIP Area
3,100
Density / Sq Mi
$42,275
Median Household Income
$24,042
Median Earnings
$942
Median Rent
$265,100
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?
Triplex - Multifamily property with two two-bedroom units and a separate studio apartment.
Where is this triplex located?
The property is located at 505 Grant Ave Morgantown, WV.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Three‑unit multifamily configuration; Two 2‑bedroom, 1‑bath units; Studio unit with a full bath
