Four-Unit
New
For Sale
$414,900
4116 Billtown Rd, Jeffersontown, KY 40299
Multi Family, Jeffersontown, KY
Property Size3,360 SF
Lot Size0.19 Acres
Price / SF$123.48
Days on Market5
Property Features for 4116 Billtown Rd
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 4, Bedroom 3, Bedroom 5, Bedroom 6, Bedroom 2, Bathroom 1, Bedroom 7, Bedroom 1, Bedroom 8
Subdivision
LEJOBET
Lot features
Sidewalk
Directions
I-265 (Gene Snyder) to Billtown Rd exit. North on Billtown Rd. Property will be on the left.
Standard status
Active
APN
22058501100000
Size
3,360 SF
Lot size
0.19 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
central air
washer/dryer hookups
Building Details
Year built
1971
Number of units
4
Building materials
Wood Frame, Brick
Roof type
Asphalt, Shingle
Architectural style
Other
Listing Agency:
Keller Williams Louisville · Keller Williams Realty
(502) 459-5509
Listed By:
Scott Breland · License #223472
(502) 727-8573
Added: Aug 23
Changed: Aug 26
Last Checked: Aug 27 at 3:06AM
MLS# 1727114
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 4-unit residential income property includes two 1-bedroom residences and two 3-bedroom residences within a 3,360-square-foot building. All units include central air, living and dining areas, kitchens, and closet storage. The 3-bedroom residences add 1.5 baths and full-size laundry rooms with washer/dryer hookups. The property is fully occupied and was built in 1971 with wood-frame and brick construction.
Set on 0.19 acres at 4116 Billtown Rd in Jeffersontown, the property has access to public water and public sewer. Forced-air, natural-gas heating, central cooling, and an asphalt shingle roof are in place. The Billtown Road setting provides access to shopping, employment, dining, and transportation services in the surrounding area.
Set on 0.19 acres at 4116 Billtown Rd in Jeffersontown, the property has access to public water and public sewer. Forced-air, natural-gas heating, central cooling, and an asphalt shingle roof are in place. The Billtown Road setting provides access to shopping, employment, dining, and transportation services in the surrounding area.
Key Highlights
- Two 1‑bedroom units and two 3‑bedroom units
- 3,360 square feet on 0.19 acres
- Fully occupied 4‑unit property
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
$30,763
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
7.41%
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%
$615,260
$615.3K
Cap Rate 7%
$439,471
$439.5K
Cap Rate 9%
$341,811
$341.8K
Market Conditions
NOI Build-Up for 3,360 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
$46.4K $13.80/SF
− Vacancy
−$2.4K −$0.72/SF
EGI
$43.9K $13.08/SF
− OpEx
−$13.2K −$3.92/SF
NOI
$30.8K $9.16/SF
Area
ZIP 40299
Vacancy
5.22%
Lease Rate
$13.80 /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%
$615,260
Cap Rate 7%
$439,471
Cap Rate 9%
$341,811
Alternative Uses
Best Use
Multifamily LT 5
$439.5K
$384.5K – $512.7K
NOI $30,763 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$404.2K
$353.6K – $471.5K
NOI $28,291 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$822.5K
$719.7K – $959.6K
NOI $57,577 @ 7.0% cap · market cap 13.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
256
Businesses Nearby
Explore this area
Business Placement
Demographics for 40299, KY
43,030
Population
17,567
Households
2.4
Avg Household Size
41
Median Age
41%
College-Educated
95%
High-School Grad
54.0 sq mi
ZIP Area
797
Density / Sq Mi
$85,419
Median Household Income
$50,427
Median Earnings
$1,290
Median Rent
$274,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied property offers two unit layouts, central air, and public utilities.
Where is this quadplex located?
The property is located at 4116 Billtown Rd Jeffersontown, KY.
What is the asking price?
The asking price for this property is $414,900.
What are key features of this property?
This property features: Two 1‑bedroom units and two 3‑bedroom units; 3,360 square feet on 0.19 acres; Fully occupied 4‑unit property
