Updated Townhouse Overlooking
For Sale
$197,000
4883 Powderhorn Lane #3, Westerville, OH 43081
Updated 3-bedroom townhouse with deck overlooking the 17th fairway.
Property Size2,020 SF
Price / SF$97.52
Days on Market438
Property Features for 4883 Powderhorn Lane #3
General Information
Standard status
Active
Size
2,020 SF
Property subtype
Condominium
Amenities
Fireplace
Central Air
Electric
Heat Pump
Dishwasher
Electric Range
Microwave
Refrigerator
Building Details
Building Size
2,020 SF
Year Built
1974
Listing Agency:
Keller Williams Greater Columubs Realty
Listed By:
Michael Bean · License #348660
(614) 565-7400
Source:
Kw
Added: Jul 2, 2025
Changed: Sep 5
Last Checked: Sep 11 at 1:31PM
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 Greater Columubs Realty
Investment Insights
Based on property information with market context.
This updated townhouse offers immediate possession and features 3 bedrooms. The property includes a multi-tier deck with privacy walls, overlooking the 17th fairway and private wooded green space with no rear neighbors. The interior features barn wood LVP flooring on the entire first floor. The kitchen is equipped with granite countertops, subway tile backsplash, stainless steel appliances, and newer cabinetry. All three full bathrooms have newer tile flooring and shower surrounds. Floor-to-ceiling glass doors and windows enhance the natural light. The vaulted owner's suite includes a private bath with a vanity area. The property provides over 2000 square feet of living space, including a full finished lower level. Community amenities include a heated pool and parks. The property is located near Blendon Woods State Park. New roofs, siding, and trim work have been completed throughout the community. A new furnace is scheduled for installation in June 2024.
Key Highlights
- Backs to the 17th fairway and private wooded green space with no rear neighbors.
- Updated kitchen boasts granite countertops, subway tile backsplash, stainless steel appliances, and newer cabinetry.
- Enjoy over 2000 SF of living space including a full finished lower level.
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
$16,108
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
8.18%
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%
$322,160
$322.2K
Cap Rate 7%
$230,114
$230.1K
Cap Rate 9%
$178,978
$179.0K
Market Conditions
NOI Build-Up for 2,020 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
$33.9K $16.80/SF
− Vacancy
−$4.6K −$2.30/SF
EGI
$29.3K $14.50/SF
− OpEx
−$13.2K −$6.52/SF
NOI
$16.1K $7.97/SF
Area
Delaware County, OH
Vacancy
13.70%
Lease Rate
$16.80 /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%
$322,160
Cap Rate 7%
$230,114
Cap Rate 9%
$178,978
Alternative Uses
Best Use
Apartment 5plus
$230.1K
$201.4K – $268.5K
NOI $16,108 @ 7.0% cap · market cap 8.18%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$407.1K
$356.2K – $475.0K
NOI $28,499 @ 7.0% cap · market cap 14.47%
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
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
Explore this area
Business Placement
Demographics for 43081, OH
64,338
Population
28,457
Households
2.3
Avg Household Size
37
Median Age
54%
College-Educated
98%
High-School Grad
25.1 sq mi
ZIP Area
2,563
Density / Sq Mi
$90,336
Median Household Income
$55,015
Median Earnings
$1,434
Median Rent
$297,300
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Updated 3-bedroom townhouse with deck overlooking the 17th fairway.
Where is this apartment building located?
The property is located at 4883 Powderhorn Lane #3 Westerville, OH.
What is the asking price?
The asking price for this property is $197,000.
What are key features of this property?
This property features: Backs to the 17th fairway and private wooded green space with no rear neighbors.; Updated kitchen boasts granite countertops, subway tile backsplash, stainless steel appliances, and newer cabinetry.; Enjoy over 2000 SF of living space including a full finished lower level.
