Four-Unit Residential
New
For Sale
$489,000
167-173 N Lyman Street, Wadsworth, OH 44281
ResidentialIncome, Wadsworth, OH
Property Size4,236 SF
Lot Size0.28 Acres
Price / SF$115.44
Days on Market4
Property Features for 167-173 N Lyman Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
9
Bathrooms
8
Full bathrooms
6
Half bathrooms
2
Rooms
Bathroom 3, Bedroom 9, Bedroom 3, Bedroom 6, Bedroom 4, Bathroom 7, Bedroom 7, Bedroom 1, Bathroom 6, Bathroom 8, Bedroom 8, Bathroom 2, Bathroom 5, Basement, Bedroom 2, Bedroom 5, Bathroom 1, Bathroom 4
Parking features
Garage
Interior features
CeilingFans
Appliances
Dryer, Dishwasher, Range, Refrigerator, Washer
Elementary school district
Wadsworth CSD - 5207
Middle school district
Wadsworth CSD - 5207
High school district
Wadsworth CSD - 5207
Directions
Road to N. Lyman, past fire station.
Standard status
Active
APN
040-20B-13-290
Size
4,236 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3227
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Varies by Unit, Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1922
Floors in Building
2
Building materials
VinylSiding
Roof type
Asphalt
Listing Agency:
Keller Williams Citywide · Keller Williams Realty
(440) 892-2211
Listed By:
Gregory Erlanger · License #2004000516
(216) 916-7778
Added: Sep 9
Changed: Sep 11
Last Checked: Sep 12 at 5:06AM
MLS# 5243488
Copyright © 2026 MLS Now. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-unit residential property comprises three buildings across two parcels, with two single-family homes and one duplex totaling 4,236 square feet. Three units are tenant-occupied, while the fourth is owner-occupied. The property was built in 1922 and includes garage parking, basements, vinyl siding, asphalt roofing, and a mix of central air, ceiling fans, and unit-specific cooling. Heating is provided by natural gas and forced air.
Located at 167-173 N Lyman Street in Wadsworth, the property is near downtown Wadsworth and its shopping, dining, schools, parks, and everyday amenities. Public water and public sewer serve the site. Appliances include ranges, refrigerators, dishwashers, washers, and dryers.
Located at 167-173 N Lyman Street in Wadsworth, the property is near downtown Wadsworth and its shopping, dining, schools, parks, and everyday amenities. Public water and public sewer serve the site. Appliances include ranges, refrigerators, dishwashers, washers, and dryers.
Key Highlights
- Four total units: two single‑family homes and one duplex
- Three residential buildings situated across two parcels
- 4,236 square feet of total property size
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
$38,395
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
7.85%
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%
$767,900
$767.9K
Cap Rate 7%
$548,500
$548.5K
Cap Rate 9%
$426,611
$426.6K
Market Conditions
NOI Build-Up for 4,236 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
$58.5K $13.80/SF
− Vacancy
−$3.6K −$0.85/SF
EGI
$54.9K $12.95/SF
− OpEx
−$16.5K −$3.88/SF
NOI
$38.4K $9.06/SF
Area
Medina County, OH
Vacancy
6.17%
Lease Rate
$13.80 /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%
$767,900
Cap Rate 7%
$548,500
Cap Rate 9%
$426,611
Alternative Uses
Best Use
Multifamily LT 5
$548.5K
$479.9K – $639.9K
NOI $38,395 @ 7.0% cap · market cap 7.85%
Second Best
Apartment 5plus
$478.0K
$418.3K – $557.7K
NOI $33,460 @ 7.0% cap · market cap 6.84%
Theoretical Best
Specialty Retail
$1.18M
$1.03M – $1.38M
NOI $82,708 @ 7.0% cap · market cap 16.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
540
Businesses Nearby
Explore this area
Business Placement
Demographics for 44281, OH
33,241
Population
14,298
Households
2.3
Avg Household Size
41
Median Age
42%
College-Educated
96%
High-School Grad
47.8 sq mi
ZIP Area
695
Density / Sq Mi
$88,128
Median Household Income
$46,653
Median Earnings
$1,031
Median Rent
$262,200
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 Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Three buildings combine two houses and a duplex in one property.
Where is this quadplex located?
The property is located at 167-173 N Lyman Street Wadsworth, OH.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Four total units: two single‑family homes and one duplex; Three residential buildings situated across two parcels; 4,236 square feet of total property size
