No one can answer that because each chip and configuration is unique. Generally you are pretty much guaranteed a 10% overclock, 20% is usually ok with some good tweaking, and 30% or more is just really lucky. So that puts it in the range of about 4.0 is a pretty sure thing, 4.2-4.3 is quite likely, and 4.5+ for the getting lucky range.
If it's stable and good and solid the OC shouldn't appreciably change the life of the CPU since you are probably going to replace it in under the time they generally last anyway.