Amherst Condo with Modern
For Sale
$320,000
133 Ambleside Way, Amherst, OH 44001
Well-maintained condo near downtown Amherst with community amenities.
Property Size2,300 SF
Lot Size0.04 Acres
Days on Market337
Property Features for 133 Ambleside Way
General Information
Standard status
Active
Size
2,300 SF
Lot size
0.04 Acres
Property subtype
Condominium
Amenities
Fireplace
Gas
Central Air
Dryer
Dishwasher
Microwave
Range
Refrigerator
Washer
Patio, Asphalt, Fiberglass
Building Details
Building Size
2,300 SF
Year Built
1994
Stories
3
Listing Agency:
Keller Williams Citywide
Listed By:
Jamie Proctor · License #SAL
(440) 382-2301
Source:
Kw
Added: Oct 2, 2025
Changed: Aug 13
Last Checked: Sep 3 at 4:19AM
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 Keller Williams Citywide
Investment Insights
Based on property information with market context.
This well-maintained condo in Amherst features 3 bedrooms and 2.5 baths. The layout offers stylish updates and plenty of natural light. The living room includes soaring ceilings, a gas fireplace, built-in shelving, and expansive windows and doors. A versatile nook off the living area is suitable for a home office or reading corner. Adjacent to the living room is a dining area that flows into the kitchen. The kitchen features light cabinetry, stainless steel appliances, and generous counter space. A half bath and a dedicated laundry room with built-in shelving complete the first floor. Upstairs, a loft overlooks the main living space. The primary suite includes a walk-in closet and custom barn doors leading to a private bath with dual sinks, a soaking tub, and a separate water closet with a shower. A second bedroom and full bath are also located on this level. The entire third floor offers a spacious bedroom with vaulted ceilings and skylights, providing flexibility for a guest suite, media room, or creative studio. Sliding doors off the living room open to a stamped concrete patio with a privacy fence. The attached garage has epoxy flooring and built-in shelving. Community amenities include a clubhouse and pool, with lawn care and snow removal covered. The condo's proximity to downtown Amherst’s dining, shopping, and amenities makes it suitable for those seeking comfort, convenience, and community.
Key Highlights
- Low‑maintenance living with lawn care and snow removal included, plus community clubhouse and pool
- Prime location near downtown Amherst's dining, shopping, and amenities
- Stylish updates throughout, including stainless steel appliances, custom barn doors, and epoxy garage 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
$19,673
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
6.15%
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%
$393,460
$393.5K
Cap Rate 7%
$281,043
$281.0K
Cap Rate 9%
$218,589
$218.6K
Market Conditions
NOI Build-Up for 2,300 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
$37.3K $16.20/SF
− Vacancy
−$1.5K −$0.65/SF
EGI
$35.8K $15.55/SF
− OpEx
−$16.1K −$7.00/SF
NOI
$19.7K $8.55/SF
Area
Lorain County, OH
Vacancy
4.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$393,460
Cap Rate 7%
$281,043
Cap Rate 9%
$218,589
Alternative Uses
Best Use
Apartment 5plus
$281.0K
$245.9K – $327.9K
NOI $19,673 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$579.6K
$507.2K – $676.2K
NOI $40,572 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
73
Businesses Nearby
Explore this area
Business Placement
Demographics for 44001, OH
20,837
Population
8,547
Households
2.4
Avg Household Size
47
Median Age
30%
College-Educated
95%
High-School Grad
33.2 sq mi
ZIP Area
628
Density / Sq Mi
$91,050
Median Household Income
$47,042
Median Earnings
$947
Median Rent
$221,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained condo near downtown Amherst with community amenities.
Where is this apartment building located?
The property is located at 133 Ambleside Way Amherst, OH.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Low‑maintenance living with lawn care and snow removal included, plus community clubhouse and pool; Prime location near downtown Amherst's dining, shopping, and amenities; Stylish updates throughout, including **stainless steel appliances, custom barn doors, and epoxy garage flooring**
