Four-Unit Apartment
For Sale
$430,000
4342 Newport Rd, Louisville, KY 40218
Fully occupied apartment building with basement storage, laundry hookups, and updated major systems.
Property Size3,430 SF
Price / SF$125.36
Days on Market44
Property Features for 4342 Newport Rd
General Information
Standard status
Active
Size
3,430 SF
Property subtype
Residential Income
Occupancy
100%
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
laundry hookups
private storage areas
Building Details
Year Renovated
2018
Tenancy
Multi
Listing Agency:
Schuler Bauer Real Estate Services ERA Powered
(502) 426-3600
Listed By:
Terry Golladay
(502) 426-3600
Source:
Exprealty
Added: Jul 15
Changed: Aug 23
Last Checked: Aug 26 at 12:02PM
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 Schuler Bauer Real Estate Services ERA Powered
Investment Insights
Based on property information with market context.
This four-unit apartment property contains four occupied two-bedroom, one-bath residences within 3,430 square feet. Each apartment includes laundry hookups, while the basement adds separate laundry connections and private storage areas. Roof, HVAC systems, appliances, and pavement were replaced or improved in 2018.
The property is within walking distance of GE, FedEX TARC bus lines, ALDI, and other everyday amenities. The owner pays water, sewer, and trash pickup; tenants are responsible for electric and gas service. The property may also be acquired together with 4920 Cawood Drive, located down the street.
The property is within walking distance of GE, FedEX TARC bus lines, ALDI, and other everyday amenities. The owner pays water, sewer, and trash pickup; tenants are responsible for electric and gas service. The property may also be acquired together with 4920 Cawood Drive, located down the street.
Key Highlights
- Four fully occupied 2 bedroom, 1 bath apartments
- 3,430 square feet with basement storage areas
- Laundry hookups in each unit plus additional basement hookups
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
$28,861
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
6.71%
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%
$577,220
$577.2K
Cap Rate 7%
$412,300
$412.3K
Cap Rate 9%
$320,678
$320.7K
Market Conditions
NOI Build-Up for 3,430 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
$43.6K $12.72/SF
− Vacancy
−$2.4K −$0.70/SF
EGI
$41.2K $12.02/SF
− OpEx
−$12.4K −$3.61/SF
NOI
$28.9K $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%
$577,220
Cap Rate 7%
$412,300
Cap Rate 9%
$320,678
Alternative Uses
Best Use
Multifamily LT 5
$412.3K
$360.8K – $481.0K
NOI $28,861 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$333.5K
$291.8K – $389.1K
NOI $23,343 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$889.1K
$777.9K – $1.04M
NOI $62,234 @ 7.0% cap · market cap 14.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
209
Businesses Nearby
Explore this area
Business Placement
Demographics for 40218, KY
33,437
Population
14,697
Households
2.3
Avg Household Size
36
Median Age
29%
College-Educated
89%
High-School Grad
9.0 sq mi
ZIP Area
3,715
Density / Sq Mi
$56,191
Median Household Income
$35,784
Median Earnings
$1,059
Median Rent
$195,600
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 apartment building with basement storage, laundry hookups, and updated major systems.
Where is this quadplex located?
The property is located at 4342 Newport Rd Louisville, KY.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Four fully occupied 2 bedroom, 1 bath apartments; 3,430 square feet with basement storage areas; Laundry hookups in each unit plus additional basement hookups
