Spacious Condo in Deepwood
For Sale
$177,000
8300 Deepwood Boulevard #8, Mentor, OH 44060
Move-in ready, three-bedroom condo with updated features and amenities.
Property Size1,418 SF
Lot Size0.32 Acres
Days on Market291
Property Features for 8300 Deepwood Boulevard #8
General Information
Standard status
Active
Size
1,418 SF
Lot size
0.32 Acres
Property subtype
Condominium
Amenities
Fireplace
Baseboard
Electric
Zoned
Central Air
Dryer
Dishwasher
Range
Refrigerator
Washer
Patio, Pool, Asphalt, Fiberglass
Building Details
Building Size
1,418 SF
Year Built
1969
Stories
2
Listing Agency:
Keller Williams Living
Listed By:
Andrey Godes · License #2018006158
(440) 796-0460
Source:
Kw
Added: Dec 2, 2025
Changed: Sep 8
Last Checked: Sep 19 at 2:08PM
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 Living
Investment Insights
Based on property information with market context.
This spacious three-bedroom condo is located in the back of Deepwood Condo Estates. It features a step-down living room with a wood-burning fireplace and tall ceilings overlooking the courtyard. There is a formal dining room and an eat-in kitchen with heated tile floors. The second floor houses three bedrooms and two full baths. A half bath and laundry area are located on the main level. The property includes a cement patio between the kitchen and garage, offering privacy, as well as replacement windows throughout. A detached two-car garage is included. Residents can enjoy a recently renovated in-ground pool and clubhouse. Guest parking is nearby, with easy access to the pool and party center area. A new garage door opener and new HVAC were installed in 2024. A one-year APHW home warranty is included.
Key Highlights
- New HVAC (2024) and 1 Year Home Warranty Included
- Recently Renovated In‑Ground Pool and Clubhouse
- Detached Two‑Car Garage
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
$13,660
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
7.72%
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%
$273,200
$273.2K
Cap Rate 7%
$195,143
$195.1K
Cap Rate 9%
$151,778
$151.8K
Market Conditions
NOI Build-Up for 1,418 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
$26.0K $18.36/SF
− Vacancy
−$1.2K −$0.84/SF
EGI
$24.8K $17.52/SF
− OpEx
−$11.2K −$7.88/SF
NOI
$13.7K $9.63/SF
Area
Lake County, OH
Vacancy
4.60%
Lease Rate
$18.36 /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%
$273,200
Cap Rate 7%
$195,143
Cap Rate 9%
$151,778
Alternative Uses
Best Use
Apartment 5plus
$195.1K
$170.8K – $227.7K
NOI $13,660 @ 7.0% cap · market cap 7.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$327.5K
$286.6K – $382.1K
NOI $22,925 @ 7.0% cap · market cap 12.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Explore this area
Business Placement
Demographics for 44060, OH
60,360
Population
27,276
Households
2.2
Avg Household Size
47
Median Age
35%
College-Educated
96%
High-School Grad
39.9 sq mi
ZIP Area
1,513
Density / Sq Mi
$85,881
Median Household Income
$51,736
Median Earnings
$1,156
Median Rent
$227,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Move-in ready, three-bedroom condo with updated features and amenities.
Where is this apartment building located?
The property is located at 8300 Deepwood Boulevard #8 Mentor, OH.
What is the asking price?
The asking price for this property is $177,000.
What are key features of this property?
This property features: New HVAC (2024) and 1 Year Home Warranty Included; Recently Renovated In‑Ground Pool and Clubhouse; Detached Two‑Car Garage
