Top-and-Bottom Duplex
4534 Lake Dreamland Rd Louisville, KY 40216
For Sale
$279,500
MULTI_FAMILY - Louisville, KY
Property Size2,592 SF
Lot Size0.35 Acres
Price / SF$107.83
Days on Market25
Property Features for 4534 Lake Dreamland Rd
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 6
- Bathrooms
- 2
- Rooms
- Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 6, Bathroom 2, Bedroom 3, Basement, Bedroom 1, Bedroom 2
- Patio and Porch features
- Porch
- Exterior features
- Handic Prov
- Standard status
- Active
- APN
- 25100600820000
- Size
- 2,592 SF
- Lot size
- 0.35 Acres
Utilities
- Sewer type
- Public Sewer
- Heating system
- Heat Pump (Heating), Electric (Heating), Natural Gas
- Water source
- Public
Building Details
- Year built
- 1938
- Floors in Building
- 2
- Number of units
- 2
- Building materials
- Vinyl Siding, Wood Frame, Concrete, Block
- Roof type
- Shingle
Listing Agency:
Keller Williams Louisville
(502) 459-5509
Listed By:
Anna Johnson · License #221997
(502) 459-5509
Added: Jun 30
Changed: Jul 17
Last Checked: Jul 24 at 2:06PM
MLS# 1722004
Copyright © 2026 Greater Louisville Association of REALTORS®. 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 residential income property offers a top-and-bottom duplex configuration, providing two separate levels within the same building. The home is described as having scenic views and water access, including access to a river and a lake. It is presented as an investment opportunity for an income-focused buyer.
The property is located at 4534 Lake Dreamland Rd in Louisville, Kentucky 40216 (Jefferson County). The listing emphasizes a quieter, country-like setting while also noting the conveniences associated with nearby city access.
With its duplex layout, this property is positioned for buyers seeking a multi-unit structure that can support a straightforward, two-level residential income approach. Prospective buyers are encouraged to review the property in person to confirm condition, layout, and unit features.
The property is located at 4534 Lake Dreamland Rd in Louisville, Kentucky 40216 (Jefferson County). The listing emphasizes a quieter, country-like setting while also noting the conveniences associated with nearby city access.
With its duplex layout, this property is positioned for buyers seeking a multi-unit structure that can support a straightforward, two-level residential income approach. Prospective buyers are encouraged to review the property in person to confirm condition, layout, and unit features.
Key Highlights
- Year built 1938 with vinyl siding, wood frame, concrete, and block exterior materials
- Top‑and‑bottom duplex layout with 6 bedrooms and 2 bathrooms
- Includes a basement and a porch
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.8k | $15.36 |
| − Vacancy | −$3.2k | −$1.24 |
| EGI | $36.6k | $14.12 |
| − OpEx | −$11.0k | −$4.24 |
| NOI | $25.6k | $9.88 |
2,592 SF · lease $15.36/SF/yr · vacancy 8.07% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$366.0K
$320.3K – $427.0K
NOI $25,620 @ 7.0% cap · market cap 9.17%
Second Best
Apartment 5plus
$335.4K
$293.5K – $391.3K
NOI $23,480 @ 7.0% cap · market cap 8.40%
Theoretical Best
Office A
$664.7K
$581.7K – $775.5K
NOI $46,532 @ 7.0% cap · market cap 16.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
FAQs
What type of property is this?
Duplex - Duplex-style residential income property with top and bottom units, scenic water access, and a country setting near city conveniences.
Where is this duplex located?
The property is located at 4534 Lake Dreamland Rd Louisville, KY.
What is the asking price?
The asking price for this property is $279,500.
What are key features of this property?
This property features: Year built 1938 with vinyl siding, wood frame, concrete, and block exterior materials; Top‑and‑bottom duplex layout with 6 bedrooms and 2 bathrooms; Includes a basement and a porch
