6-Unit Apartment
For Sale
$410,000
412 Wood Creek Dr, Radcliff, KY 40160
Five residences feature updated interiors, central air, individual utility metering, and dedicated resident parking.
Property Size3,905 SF
Price / SF$104.99
Days on Market40
Property Features for 412 Wood Creek Dr
General Information
Standard status
Active
Size
3,905 SF
Property subtype
Multi-Family
Units
Unit Mix
6 x 1BR/1BA
Multifamily Units
6
Amenities
central air
dedicated parking
Building Details
Year Built
1983
Listing Agency:
Homepage Realty
(502) 345-2830
Listed By:
Ashley Brown · License #214651
Source:
Familyrealty
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 29 at 12:15PM
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 Homepage Realty
Investment Insights
Based on property information with market context.
Built in 1983, this 3,905-square-foot apartment building contains six 1-bedroom, 1-bathroom units. Five residences have been remodeled, and each unit includes central air, individual utility metering, and dedicated parking. Tenants pay all utilities, including water, while the landlord handles trash service and lawn care.
Five of the six units are leased. The property is located at 412 Wood Creek Dr in Radcliff, near Fort Knox and Elizabethtown, providing access to two established area destinations. The compact unit configuration and individually metered utilities create a straightforward operating profile for multifamily ownership.
Five of the six units are leased. The property is located at 412 Wood Creek Dr in Radcliff, near Fort Knox and Elizabethtown, providing access to two established area destinations. The compact unit configuration and individually metered utilities create a straightforward operating profile for multifamily ownership.
Key Highlights
- Six 1‑bedroom, 1‑bathroom apartment units in a 3,905‑square‑foot building
- Five of the six units have been recently remodeled
- Five of six units are currently leased
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
$31,259
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
7.62%
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%
$625,180
$625.2K
Cap Rate 7%
$446,557
$446.6K
Cap Rate 9%
$347,322
$347.3K
Market Conditions
NOI Build-Up for 3,905 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
$59.5K $15.24/SF
− Vacancy
−$2.7K −$0.69/SF
EGI
$56.8K $14.55/SF
− OpEx
−$25.6K −$6.55/SF
NOI
$31.3K $8.00/SF
Area
Hardin County, KY
Vacancy
4.50%
Lease Rate
$15.24 /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%
$625,180
Cap Rate 7%
$446,557
Cap Rate 9%
$347,322
Alternative Uses
Best Use
Apartment 5plus
$446.6K
$390.7K – $521.0K
NOI $31,259 @ 7.0% cap · market cap 7.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$706.9K
$618.6K – $824.7K
NOI $49,484 @ 7.0% cap · market cap 12.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
650
Businesses Nearby
Explore this area
Business Placement
Demographics for 40160, KY
23,582
Population
9,991
Households
2.4
Avg Household Size
37
Median Age
15%
College-Educated
89%
High-School Grad
17.1 sq mi
ZIP Area
1,379
Density / Sq Mi
$59,293
Median Household Income
$34,373
Median Earnings
$889
Median Rent
$161,500
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?
Apartment building - Five residences feature updated interiors, central air, individual utility metering, and dedicated resident parking.
Where is this apartment building located?
The property is located at 412 Wood Creek Dr Radcliff, KY.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Six 1‑bedroom, 1‑bathroom apartment units in a 3,905‑square‑foot building; Five of the six units have been recently remodeled; Five of six units are currently leased
