Three-House Residential Income
8508 Buffaloe Road Knightdale, NC 27545
8508 Buffaloe Road, Knightdale, NC, 27545
$379,900
Pending
For Sale
$379,900
Pending
MULTI_FAMILY - Knightdale, NC
Property Size3,152 SF
Lot Size2.23 Acres
Days on Market22
Property Features for 8508 Buffaloe Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Zoning
- RT
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bathroom 4, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 2, Bathroom 1, Bedroom 3, Bathroom 5, Bathroom 2, Bathroom 3
- Parking
- 5
- Parking features
- Paved or Surfaced
- Vegetation
- Brush
- Patio and Porch features
- Deck, Porch
- Interior features
- Ceiling Fan(s)
- Exterior features
- Storage
- Standard status
- Pending
- APN
- 175502591500000 0012406
- Size
- 3,152 SF
- Lot size
- 2.23 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Description
- Herring Ld
- Tax Annual Amount
- 2581
Utilities
- Sewer type
- Septic Tank
- Cooling system
- Electric
- Water source
- Well
Building Details
- Year built
- 1966
- Floors in Building
- 1
- Number of units
- 3
- Flooring type
- Carpet, Vinyl
- Building materials
- Vinyl Siding
- Roof type
- Shingle
- Additional Structures
- Outbuilding, Storage
Listing agency
Coldwell Banker HPW
(919) 876-8824
Listed by
Ricky Murray · License #92110
(919) 795-4463
Added: Jul 1 Updated: Jul 17 at 12:37PM Checked: Jul 22 at 8:06PM
MLS# 10177533
Copyright © 2026 Doorify MLS. 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 residential income offering consists of three separate houses all located on a single parcel totaling 2.23 acres. The property is listed as-is. Based on the provided remarks, one house is described as livable, one needs some work, and one requires major work due to fire-related damage. Please use care when walking in or around the property.
The site is located in the Knightdale area. Public remarks note possible city water and sewer coming to an adjacent property, and a new subdivision being built next to the parcel.
For buyers and investors, the configuration can appeal to those looking to manage multiple dwellings on one tract with varied renovation needs. The listing conditions reflect that repairs and due diligence will be required, particularly for the fire-damaged structure. The RT zoning and single-parcel setup may also simplify ownership of the three-house footprint, with any development or utility considerations to be confirmed during the buyer’s process.
The site is located in the Knightdale area. Public remarks note possible city water and sewer coming to an adjacent property, and a new subdivision being built next to the parcel.
For buyers and investors, the configuration can appeal to those looking to manage multiple dwellings on one tract with varied renovation needs. The listing conditions reflect that repairs and due diligence will be required, particularly for the fire-damaged structure. The RT zoning and single-parcel setup may also simplify ownership of the three-house footprint, with any development or utility considerations to be confirmed during the buyer’s process.
Key Highlights
- Three houses on one parcel totaling 2.229 acres
- One house is livable; one needs some work; one needs major work due to a fire
- Sold as‑is; please be extra careful walking in or around the property
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.4k | $19.80 |
| − Vacancy | −$3.7k | −$1.19 |
| EGI | $58.7k | $18.61 |
| − OpEx | −$26.4k | −$8.38 |
| NOI | $32.3k | $10.24 |
3,152 SF · lease $19.80/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$460.9K
$403.3K – $537.8K
NOI $32,266 @ 7.0% cap · market cap 8.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$900.0K
$787.5K – $1.05M
NOI $62,998 @ 7.0% cap · market cap 16.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Single family properties
Similar For Sale Nearby
FAQs
What type of property is this?
Single family property - Three houses on one RT-zoned parcel offered as-is, including one livable home and two others needing work.
Where is this single family property located?
The property is located at 8508 Buffaloe Road Knightdale, NC.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Three houses on one parcel totaling 2.229 acres; One house is livable; one needs some work; one needs major work due to a fire; Sold as‑is; please be extra careful walking in or around the property
