Updated Four-Unit
For Sale
$500,000
911 Goss Ave, Louisville, KY 40217
Fully leased income property with updated electric meters and two new decks.
Property Size4,125 SF
Price / SF$121.21
Days on Market12
Property Features for 911 Goss Ave
General Information
Standard status
Active
Size
4,125 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Gross Income
$57,000
Multifamily Units
4
Amenities
decks
Building Details
Buildings
1
Listing Agency:
EXP Realty LLC
(888) 624-6448
Listed By:
Ethan J Adams · License #244623
(502) 558-8193
Source:
Exprealty
Added: Sep 11
Changed: Sep 19
Last Checked: Sep 21 at 1:31PM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
Located at 911 Goss Ave in Louisville’s Germantown neighborhood, this 4,125-square-foot quadplex contains four leased units. Property updates include new electric meters and two new decks, providing refreshed building components and outdoor features.
The property offers walkable access to Germantown restaurants, coffee shops, and boutiques, with downtown Louisville only minutes away. Its four-unit configuration and current occupancy make it a practical addition to a residential income portfolio.
The property offers walkable access to Germantown restaurants, coffee shops, and boutiques, with downtown Louisville only minutes away. Its four-unit configuration and current occupancy make it a practical addition to a residential income portfolio.
Key Highlights
- 4,125‑square‑foot quadplex with four residential units
- All four units are currently leased
- New electric meters have been installed
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
$34,709
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
6.94%
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%
$694,180
$694.2K
Cap Rate 7%
$495,843
$495.8K
Cap Rate 9%
$385,656
$385.7K
Market Conditions
NOI Build-Up for 4,125 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
$52.5K $12.72/SF
− Vacancy
−$2.9K −$0.70/SF
EGI
$49.6K $12.02/SF
− OpEx
−$14.9K −$3.61/SF
NOI
$34.7K $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%
$694,180
Cap Rate 7%
$495,843
Cap Rate 9%
$385,656
Alternative Uses
Best Use
Multifamily LT 5
$495.8K
$433.9K – $578.5K
NOI $34,709 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$401.0K
$350.9K – $467.9K
NOI $28,073 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$1.07M
$935.6K – $1.25M
NOI $74,844 @ 7.0% cap · market cap 14.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
969
Businesses Nearby
Explore this area
Business Placement
Demographics for 40217, KY
13,061
Population
6,840
Households
1.9
Avg Household Size
36
Median Age
48%
College-Educated
95%
High-School Grad
2.4 sq mi
ZIP Area
5,442
Density / Sq Mi
$68,573
Median Household Income
$48,298
Median Earnings
$1,150
Median Rent
$220,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 leased income property with updated electric meters and two new decks.
Where is this quadplex located?
The property is located at 911 Goss Ave Louisville, KY.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 4,125‑square‑foot quadplex with four residential units; All four units are currently leased; New electric meters have been installed
