Duplex With Rear
New
For Sale
$156,900
904 Louise Ave, Morgantown, WV 26505
Two-unit residential property with rear off-street parking and an active municipal letter of compliance.
Property Size1,944 SF
Price / SF$80.71
Days on Market7
Property Features for 904 Louise Ave
General Information
Standard status
Active
Size
1,944 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,680
Listing Agency:
BERKSHIRE HATHAWAY HOMESERVICES TOUCHDOWN HOME PROS REALTY
Listed By:
Michele Rafus
(304) 282-9246
Source:
Exprealty
Added: Sep 14
Changed: Sep 19
Last Checked: Sep 19 at 8:21AM
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 BERKSHIRE HATHAWAY HOMESERVICES TOUCHDOWN HOME PROS REALTY
Investment Insights
Based on property information with market context.
This duplex contains two residential units within 1,944 square feet and is fully rented. Off-street parking is located behind the property, providing dedicated vehicle space for occupants. An active letter of compliance with the City of Morgantown remains in effect through June 10, 2028.
The property is at 904 Louise Ave in Morgantown, with access to I-68 through Sabraton, the Mileground, and Downtown Campus. Its two-unit configuration and current rental status provide a straightforward income-property profile for an owner seeking an occupied residential asset.
The property is at 904 Louise Ave in Morgantown, with access to I-68 through Sabraton, the Mileground, and Downtown Campus. Its two-unit configuration and current rental status provide a straightforward income-property profile for an owner seeking an occupied residential asset.
Key Highlights
- Two‑unit duplex totaling 1,944 square feet
- Fully rented residential property
- Rear off‑street parking
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
$12,038
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
7.67%
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%
$240,760
$240.8K
Cap Rate 7%
$171,971
$172.0K
Cap Rate 9%
$133,756
$133.8K
Market Conditions
NOI Build-Up for 1,944 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
$17.5K $9.00/SF
− Vacancy
−$299 −$0.15/SF
EGI
$17.2K $8.85/SF
− OpEx
−$5.2K −$2.65/SF
NOI
$12.0K $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%
$240,760
Cap Rate 7%
$171,971
Cap Rate 9%
$133,756
Alternative Uses
Best Use
Multifamily LT 5
$172.0K
$150.5K – $200.6K
NOI $12,038 @ 7.0% cap · market cap 7.67%
Second Best
Apartment 5plus
$158.4K
$138.6K – $184.8K
NOI $11,088 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$560.4K
$490.4K – $653.8K
NOI $39,230 @ 7.0% cap · market cap 25.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
519
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Two-unit residential property with rear off-street parking and an active municipal letter of compliance.
Where is this duplex located?
The property is located at 904 Louise Ave Morgantown, WV.
What is the asking price?
The asking price for this property is $156,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,944 square feet; Fully rented residential property; Rear off‑street parking
