Four-Unit Property with
New
For Sale
$399,000
306 Ridgedale Rd, Louisville, KY 40206
Unit mix includes one- and two-bedroom floor plans with one bathroom per unit.
Property Size3,275 SF
Price / SF$121.83
Days on Market6
Property Features for 306 Ridgedale Rd
General Information
Standard status
Active
Size
3,275 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
4
Amenities
laundry hookups
storage areas
Building Details
Buildings
1
Listing Agency:
Keller Williams Collective
(502) 554-9500
Listed By:
Linda K Hill
(502) 554-9497
Source:
Exprealty
Added: Sep 7
Changed: Sep 10
Last Checked: Sep 11 at 1:39PM
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 Collective
Investment Insights
Based on property information with market context.
This 3275 square foot quadplex contains four units arranged as two two-bedroom, one-bath residences and two one-bedroom, one-bath residences. The configuration provides a clearly defined mix of apartment layouts within a single multifamily property.
Basement areas include designated laundry hookups, water heaters, and additional storage. Parking is supported by an attached two-car garage, a detached brick carport, and additional off-street space. The property is located at 306 Ridgedale Rd in Louisville, KY.
Basement areas include designated laundry hookups, water heaters, and additional storage. Parking is supported by an attached two-car garage, a detached brick carport, and additional off-street space. The property is located at 306 Ridgedale Rd in Louisville, KY.
Key Highlights
- 3275 square ft quadplex with four residential units
- Unit mix includes two 2bed/1bath and two 1bed/1bath units
- Basement has designated laundry hookups, water heaters, and additional storage areas
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
$27,557
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
6.91%
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%
$551,140
$551.1K
Cap Rate 7%
$393,671
$393.7K
Cap Rate 9%
$306,189
$306.2K
Market Conditions
NOI Build-Up for 3,275 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
$41.7K $12.72/SF
− Vacancy
−$2.3K −$0.70/SF
EGI
$39.4K $12.02/SF
− OpEx
−$11.8K −$3.61/SF
NOI
$27.6K $8.41/SF
Area
Louisville, KY
Vacancy
5.50%
Lease Rate
$12.72 /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%
$551,140
Cap Rate 7%
$393,671
Cap Rate 9%
$306,189
Alternative Uses
Best Use
Multifamily LT 5
$393.7K
$344.5K – $459.3K
NOI $27,557 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$318.4K
$278.6K – $371.5K
NOI $22,288 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$848.9K
$742.8K – $990.4K
NOI $59,422 @ 7.0% cap · market cap 14.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
778
Businesses Nearby
Explore this area
Business Placement
Demographics for 40206, KY
20,196
Population
11,637
Households
1.7
Avg Household Size
38
Median Age
55%
College-Educated
95%
High-School Grad
5.8 sq mi
ZIP Area
3,482
Density / Sq Mi
$72,543
Median Household Income
$48,506
Median Earnings
$1,142
Median Rent
$276,100
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 South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Unit mix includes one- and two-bedroom floor plans with one bathroom per unit.
Where is this quadplex located?
The property is located at 306 Ridgedale Rd Louisville, KY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 3275 square ft quadplex with four residential units; Unit mix includes two 2bed/1bath and two 1bed/1bath units; Basement has designated laundry hookups, water heaters, and additional storage areas
