Detached Duplex with Rental
For Sale
$223,800
565 E Brockway Avenue, Morgantown, WV 26501
Three-level primary residence and lower-level apartment provide distinct layouts with separate utility panels.
Property Size1,773 SF
Days on Market31
Property Features for 565 E Brockway Avenue
General Information
Standard status
Active
Size
1,773 SF
Property subtype
Multi Family Home
Zoning
Neighborhood Mix Use
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$27,600
Amenities
large garden area
3 decks/porches
shared basement with washer/dryer
Building Details
Building Size
1,773 SF
Year Built
1910
Stories
3
Units
2
Listing Agency:
Snider Realty Group
(304) 216-9968
Listed By:
Mindy Tatar
(304) 216-9968
Source:
Oliveriorealty
Added: Jul 24
Changed: Aug 22
Last Checked: Aug 22 at 4:26AM
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 Snider Realty Group
Investment Insights
Based on property information with market context.
This detached duplex, built in 1910, includes a three-floor primary unit and a lower-level apartment. Unit A has 3 bedrooms, 1 bathroom, and two bonus rooms, with LVP flooring updated in 2021 and a newer water heater installed in 2024. Unit B offers 1 bedroom, an updated bathroom, and kitchen flooring completed in 2025, along with a new water heater from 2026.
The property occupies 3 lots and includes a garden area, side yard, backyard access to Pennsylvania Ave, and 3 decks or porches. A shared basement contains a washer and dryer, while separate electrical panels serve the units. Tenants pay gas and electric; the owner pays water and garbage. Unit A is leased through June 2027, and Unit B is leased through May 2027. The property is zoned Neighborhood Mix Use and is near downtown Morgantown and West Virginia University.
The property occupies 3 lots and includes a garden area, side yard, backyard access to Pennsylvania Ave, and 3 decks or porches. A shared basement contains a washer and dryer, while separate electrical panels serve the units. Tenants pay gas and electric; the owner pays water and garbage. Unit A is leased through June 2027, and Unit B is leased through May 2027. The property is zoned Neighborhood Mix Use and is near downtown Morgantown and West Virginia University.
Key Highlights
- Detached duplex on 3 lots with garden area, side yard, and 3 decks or porches
- Unit A includes 3 bedrooms, 1 bathroom, two bonus rooms, and three floors
- Unit B is a 1‑bedroom lower‑level apartment with updated bathroom and kitchen flooring
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
$10,979
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
4.91%
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%
$219,580
$219.6K
Cap Rate 7%
$156,843
$156.8K
Cap Rate 9%
$121,989
$122.0K
Market Conditions
NOI Build-Up for 1,773 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
$16.0K $9.00/SF
− Vacancy
−$273 −$0.15/SF
EGI
$15.7K $8.85/SF
− OpEx
−$4.7K −$2.65/SF
NOI
$11.0K $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%
$219,580
Cap Rate 7%
$156,843
Cap Rate 9%
$121,989
Alternative Uses
Best Use
Multifamily LT 5
$156.8K
$137.2K – $183.0K
NOI $10,979 @ 7.0% cap · market cap 4.91%
Second Best
Apartment 5plus
$144.5K
$126.4K – $168.5K
NOI $10,112 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$511.1K
$447.2K – $596.3K
NOI $35,779 @ 7.0% cap · market cap 15.99%
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
1,369
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 - Three-level primary residence and lower-level apartment provide distinct layouts with separate utility panels.
Where is this duplex located?
The property is located at 565 E Brockway Avenue Morgantown, WV.
What is the asking price?
The asking price for this property is $223,800.
What are key features of this property?
This property features: Detached duplex on 3 lots with garden area, side yard, and 3 decks or porches; Unit A includes 3 bedrooms, 1 bathroom, two bonus rooms, and three floors; Unit B is a 1‑bedroom lower‑level apartment with updated bathroom and kitchen flooring
