Turnkey Duplex on Corner
100 Madrid Court Garner, NC 27529
100 Madrid Court, Garner, NC, 27529
$419,900
For Sale
$419,900
MULTI_FAMILY - Garner, NC
Property Size2,388 SF
Lot Size0.29 Acres
Price / SF$175.84
Days on Market47
Property Features for 100 Madrid Court
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Zoning
- MF-A
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bathroom 18, Bathroom 29, Bathroom 15, Bedroom 1, Bathroom 27, Bedroom 3, Bathroom 10, Bathroom 22, Bathroom 3, Bathroom 6, Bathroom 14, Bedroom 4, Bathroom 19, Bathroom 26, Bathroom 9, Bathroom 30, Bathroom 25, Bathroom 17, Bathroom 21, Bathroom 28, Bathroom 5, Bathroom 1, Bedroom 6, Bathroom 12, Bathroom 20, Bathroom 8, Bathroom 16, Bathroom 23, Bathroom 4, Bathroom 7, Bathroom 13, Bathroom 24, Bathroom 2, Bedroom 5, Bathroom 11, Bedroom 2
- Parking features
- Driveway
- Interior features
- Laminate Counters
- Exterior features
- Rain Gutters
- Appliances
- Dishwasher, Electric Range, Free-Standing Electric Range, Free-Standing Range, Free-Standing Refrigerator, Range, Range Hood, Refrigerator
- Standard status
- Active
- APN
- 171014340814000 0097391
- Size
- 2,388 SF
- Lot size
- 0.29 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- Lo2 Heather Hill Villas Rev Ph1
- Tax Annual Amount
- 3585
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air, Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 1981
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Laminate, Vinyl, Carpet
- Building materials
- Brick, Frame, Vertical Siding
- Roof type
- Shingle
Listing agency
CHK Realty
(919) 345-6370
Listed by
CC Bennett
(919) 924-5555
Added: Jun 5 Updated: Jul 17 at 11:09PM Checked: Jul 21 at 5:06PM
MLS# 10172157
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.
Welcome to a turnkey, fully occupied duplex on a corner lot at 100 Madrid Court. The property is configured as a two-family residence with each unit offering 3 bedrooms and 1.5 bathrooms, functional living spaces, and fully equipped kitchens that include a refrigerator, range, and dishwasher. Additional in-unit convenience includes central air and dedicated washer/dryer hookup locations. The first floor of both units features LVP flooring. Recent updates include a roof completed in 2020 and HVAC systems described as approximately 5 years old. Outside, the fenced yard provides outdoor space on a 0.29-acre lot.
The duplex is situated in Garner, North Carolina, on a corner lot and positioned just off Timber Drive and Aversboro Road. The public remarks describe nearby everyday shopping including Lowes Foods and ALDI within a half-mile walk, along with dining and retail at Garner Towne Square a few minutes away. The remarks also note direct driving access along Timber Drive to White Oak Crossing, and quick connections to US-70 and I-40 for commuting into downtown Raleigh.
From an owner-operator or investor standpoint, this property is presented as fully rented with established tenants in place. Tenants pay their own separate utilities for water, sewer, and electric, and the yard maintenance responsibility is also allocated to tenants, supporting an easier day-to-day ownership experience. Zoning is MF-A.
The duplex is situated in Garner, North Carolina, on a corner lot and positioned just off Timber Drive and Aversboro Road. The public remarks describe nearby everyday shopping including Lowes Foods and ALDI within a half-mile walk, along with dining and retail at Garner Towne Square a few minutes away. The remarks also note direct driving access along Timber Drive to White Oak Crossing, and quick connections to US-70 and I-40 for commuting into downtown Raleigh.
From an owner-operator or investor standpoint, this property is presented as fully rented with established tenants in place. Tenants pay their own separate utilities for water, sewer, and electric, and the yard maintenance responsibility is also allocated to tenants, supporting an easier day-to-day ownership experience. Zoning is MF-A.
Key Highlights
- Fully rented duplex (two‑family) built in 1981, with 3 bedrooms and 1.5 baths per unit
- Roof replaced in 2020; exterior includes brick with vertical siding and rain gutters
- Central heating and central air in both units, plus ceiling fans
Local Financial Insights For Multifamily LT 5
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 | $41.6k | $17.40 |
| − Vacancy | −$2.2k | −$0.90 |
| EGI | $39.4k | $16.50 |
| − OpEx | −$11.8k | −$4.95 |
| NOI | $27.6k | $11.55 |
2,388 SF · lease $17.40/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$393.9K
$344.7K – $459.6K
NOI $27,573 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$349.2K
$305.6K – $407.4K
NOI $24,445 @ 7.0% cap · market cap 5.82%
Theoretical Best
Specialty Retail
$681.8K
$596.6K – $795.5K
NOI $47,728 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Fully rented two-family duplex with separate utilities and fenced yard maintenance responsibilities already in place.
Where is this duplex located?
The property is located at 100 Madrid Court Garner, NC.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Fully rented duplex (two‑family) built in 1981, with 3 bedrooms and 1.5 baths per unit; Roof replaced in 2020; exterior includes brick with vertical siding and rain gutters; Central heating and central air in both units, plus ceiling fans
