Three-Unit Residential
For Sale
$149,000
574 Pennsylvania Ave, Morgantown, WV 26501
Vacant triplex with a varied bedroom mix across three residential units.
Property Size1,797 SF
Price / SF$82.92
Days on Market10
Property Features for 574 Pennsylvania Ave
General Information
Standard status
Active
Size
1,797 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,619
Listing Agency:
THE AGENCY - MORGANTOWN
(304) 777-9343
Listed By:
Zech Beard · License #WV0028796
(304) 777-9343
Source:
Exprealty
Added: Aug 10
Changed: Aug 17
Last Checked: Aug 17 at 9:29PM
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 THE AGENCY - MORGANTOWN
Investment Insights
Based on property information with market context.
This triplex contains three separate residential units with a combined property size of 1,797 SF. The unit mix includes a three-bedroom, one-bath unit; a two-bedroom, one-bath unit; and a one-bedroom, one-bath unit.
The property is currently vacant, allowing the next owner to evaluate leasing, renovations, or repositioning plans for the existing configuration. Located at 574 Pennsylvania Ave in Morgantown, WV, the asset offers three distinct unit layouts within one multifamily property.
The property is currently vacant, allowing the next owner to evaluate leasing, renovations, or repositioning plans for the existing configuration. Located at 574 Pennsylvania Ave in Morgantown, WV, the asset offers three distinct unit layouts within one multifamily property.
Key Highlights
- Three residential units in one triplex
- Unit mix includes 3‑bedroom, 2‑bedroom, and 1‑bedroom layouts
- Each unit includes 1 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
$11,128
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
7.47%
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%
$222,560
$222.6K
Cap Rate 7%
$158,971
$159.0K
Cap Rate 9%
$123,644
$123.6K
Market Conditions
NOI Build-Up for 1,797 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
$16.2K $9.00/SF
− Vacancy
−$277 −$0.15/SF
EGI
$15.9K $8.85/SF
− OpEx
−$4.8K −$2.65/SF
NOI
$11.1K $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%
$222,560
Cap Rate 7%
$158,971
Cap Rate 9%
$123,644
Alternative Uses
Best Use
Multifamily LT 5
$159.0K
$139.1K – $185.5K
NOI $11,128 @ 7.0% cap · market cap 7.47%
Second Best
Apartment 5plus
$146.4K
$128.1K – $170.8K
NOI $10,249 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$518.1K
$453.3K – $604.4K
NOI $36,264 @ 7.0% cap · market cap 24.34%
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
1,468
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?
Triplex - Vacant triplex with a varied bedroom mix across three residential units.
Where is this triplex located?
The property is located at 574 Pennsylvania Ave Morgantown, WV.
What is the asking price?
The asking price for this property is $149,000.
What are key features of this property?
This property features: Three residential units in one triplex; Unit mix includes 3‑bedroom, 2‑bedroom, and 1‑bedroom layouts; Each unit includes 1 full bath
