Leased Duplex with Two
For Sale
$395,000
512 Beverly Ave, Morgantown, WV 26505
Two leased apartments provide rental continuity near downtown WVU campus.
Property Size3,054 SF
Price / SF$129.34
Days on Market66
Property Features for 512 Beverly Ave
General Information
Standard status
Active
Size
3,054 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,051
Listing Agency:
J.S. WALKER ASSOCIATES
Listed By:
Laura Tighe
(304) 216-5272
Source:
Exprealty
Added: Jun 29
Changed: Aug 31
Last Checked: Sep 2 at 2:38AM
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 J.S. WALKER ASSOCIATES
Investment Insights
Based on property information with market context.
This 3,054-square-foot duplex contains two residential units, configured as an upper unit and a lower apartment. Both units are currently leased through May 15, 2027, giving the property an established rental arrangement at closing.
The property is located at 512 Beverly Ave in Morgantown’s Sunnyside area, near the downtown WVU campus. Parking includes off-street spaces along with blue-curb parking nearby. A current letter of compliance is dated Nov. 16, 2027.
The property is located at 512 Beverly Ave in Morgantown’s Sunnyside area, near the downtown WVU campus. Parking includes off-street spaces along with blue-curb parking nearby. A current letter of compliance is dated Nov. 16, 2027.
Key Highlights
- 3,054‑square‑foot duplex with 2 residential units
- Both units leased through May 15, 2027
- Upper unit and lower apartment configuration
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
$18,911
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
4.79%
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%
$378,220
$378.2K
Cap Rate 7%
$270,157
$270.2K
Cap Rate 9%
$210,122
$210.1K
Market Conditions
NOI Build-Up for 3,054 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
$27.5K $9.00/SF
− Vacancy
−$470 −$0.15/SF
EGI
$27.0K $8.85/SF
− OpEx
−$8.1K −$2.65/SF
NOI
$18.9K $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%
$378,220
Cap Rate 7%
$270,157
Cap Rate 9%
$210,122
Alternative Uses
Best Use
Multifamily LT 5
$270.2K
$236.4K – $315.2K
NOI $18,911 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$248.8K
$217.7K – $290.3K
NOI $17,418 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$880.4K
$770.4K – $1.03M
NOI $61,630 @ 7.0% cap · market cap 15.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
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?
Duplex - Two leased apartments provide rental continuity near downtown WVU campus.
Where is this duplex located?
The property is located at 512 Beverly Ave Morgantown, WV.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 3,054‑square‑foot duplex with 2 residential units; Both units leased through May 15, 2027; Upper unit and lower apartment configuration
