Two-Unit Duplex
For Sale
$299,900
621 621/623 E Moler Ave, Martinsburg, WV 25404
Separate residences offer flexible leasing and owner-occupancy options in Martinsburg.
Property Size2,672 SF
Price / SF$112.24
Days on Market17
Property Features for 621 621/623 E Moler Ave
General Information
Standard status
Active
Size
2,672 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Building Details
Year Built
1890
Listing Agency:
Long & Foster Real Estate, Inc.
(304) 279-3863
Listed By:
Butch Cazin · License #WV0015220
Source:
Localrealestateleaders
Added: Aug 13
Changed: Aug 28
Last Checked: Aug 29 at 11:44AM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This duplex contains 2,672 square feet arranged as two separate three-bedroom residences. The property was built in 1890, with each unit providing its own living arrangement within the building. The configuration supports continued rental use or an owner-occupancy strategy alongside a leased unit.
Located in Martinsburg, WV, the property is near shopping, dining, local amenities, commuter routes, and employment opportunities. Lease terms provide varied occupancy timing: one residence is rented month to month, while the other is subject to a one-year lease.
Located in Martinsburg, WV, the property is near shopping, dining, local amenities, commuter routes, and employment opportunities. Lease terms provide varied occupancy timing: one residence is rented month to month, while the other is subject to a one-year lease.
Key Highlights
- Two‑unit duplex with two 3‑bedroom residences
- 2,672 square feet of total property size
- One unit leased month to month
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
$12,714
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
4.24%
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%
$254,280
$254.3K
Cap Rate 7%
$181,629
$181.6K
Cap Rate 9%
$141,267
$141.3K
Market Conditions
NOI Build-Up for 2,672 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
$18.9K $7.08/SF
− Vacancy
−$755 −$0.28/SF
EGI
$18.2K $6.80/SF
− OpEx
−$5.4K −$2.04/SF
NOI
$12.7K $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%
$254,280
Cap Rate 7%
$181,629
Cap Rate 9%
$141,267
Alternative Uses
Best Use
Multifamily LT 5
$181.6K
$158.9K – $211.9K
NOI $12,714 @ 7.0% cap · market cap 4.24%
Second Best
Apartment 5plus
$166.5K
$145.7K – $194.3K
NOI $11,657 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$483.7K
$423.3K – $564.3K
NOI $33,860 @ 7.0% cap · market cap 11.29%
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
347
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 - Separate residences offer flexible leasing and owner-occupancy options in Martinsburg.
Where is this duplex located?
The property is located at 621 621/623 E Moler Ave Martinsburg, WV.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑unit duplex with two 3‑bedroom residences; 2,672 square feet of total property size; One unit leased month to month
