Updated Residential Income
For Sale
$505,000
Pending
455 WINDMERE DRIVE Unit LLC, State College, PA 16801
Ground-level condo with renovated baths, refreshed finishes, and multiple private patios.
Property Size2,340 SF
Days on Market247
Property Features for 455 WINDMERE DRIVE Unit LLC
General Information
Standard status
Pending
Size
2,340 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$6,915
Building Details
Building Size
2,340 SF
Year Built
1990
Listing Agency:
Perry Wellington Realty, LLC
Listed By:
Annette Yorks · License #RS276283
(814) 360-0140
Source:
Nelsonrealtypa
Added: Feb 10
Changed: Oct 8
Last Checked: Oct 15 at 5:11AM
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 Perry Wellington Realty, LLC
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Investment Insights
Based on property information with market context.
This ground-level residential income property includes two bedrooms and 2.5 baths within a spacious condominium layout. Interior improvements include replaced drywall, fresh paint, new flooring in most rooms, and renovated powder and full baths. The existing kitchen tile remains, while the full bath adds a new tile shower. Six sliding glass doors open onto six private patios, bringing natural light into the home and creating outdoor areas with views of Mt. Nittany, the in-ground pool, and the surrounding landscape.
Built in 1990, the property is located at 455 Windmere Drive in State College, Pennsylvania. A bus stop is positioned directly at the front entrance, and shopping, dining, and everyday services are minutes away. The HOA owns adjacent Windmere Park, giving residents access to additional green space.
Built in 1990, the property is located at 455 Windmere Drive in State College, Pennsylvania. A bus stop is positioned directly at the front entrance, and shopping, dining, and everyday services are minutes away. The HOA owns adjacent Windmere Park, giving residents access to additional green space.
Key Highlights
- Two‑bedroom, 2.5‑bath ground‑level condo
- Six private patios accessed through six sliding glass doors
- Interior updates include drywall, paint, and new flooring in most of the home
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,622
Cap Rate
3.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$372,440
$372.4K
Cap Rate 7%
$266,029
$266.0K
Cap Rate 9%
$206,911
$206.9K
Market Conditions
NOI Build-Up for 2,340 SF
Gross rent
$35.9K $15.36/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$33.9K $14.47/SF
− OpEx
−$15.2K −$6.51/SF
NOI
$18.6K $7.96/SF
Area
Centre County, PA
Vacancy
5.80%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$372,440
Cap Rate 7%
$266,029
Cap Rate 9%
$206,911
Alternative Uses
Best Use
Apartment 5plus
$266.0K
$232.8K – $310.4K
NOI $18,622 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$516.8K
$452.2K – $602.9K
NOI $36,176 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
Explore this area
Business Placement
Demographics for 16801, PA
42,446
Population
19,242
Households
2.2
Avg Household Size
28
Median Age
67%
College-Educated
98%
High-School Grad
31.1 sq mi
ZIP Area
1,365
Density / Sq Mi
$62,821
Median Household Income
$27,598
Median Earnings
$1,221
Median Rent
$400,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Ground-level condo with renovated baths, refreshed finishes, and multiple private patios.
Where is this residential income property located?
The property is located at 455 WINDMERE DRIVE Unit LLC State College, PA.
What is the asking price?
The asking price for this property is $505,000.
What are key features of this property?
This property features: Two‑bedroom, 2.5‑bath ground‑level condo; Six private patios accessed through six sliding glass doors; Interior updates include drywall, paint, and new flooring in most of the home
