Ranch
For Sale
$449,900
1007 N King Charles Road, Raleigh, NC 27610
Residential, Raleigh, NC
Property Size1,992 SF
Lot Size0.23 Acres
Price / SF$225.85
Days on Market151
Property Features for 1007 N King Charles Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RX-3
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 3, Bedroom 6, Bedroom 5, Bathroom 4, Bathroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Family Room
Vegetation
Grassed
Interior features
Bathtub/Shower Combination, Ceiling Fan(s)
Appliances
Dishwasher, Electric Range, Electric Water Heater, Exhaust Fan, Free-Standing Electric Range, Free-Standing Refrigerator, Plumbed For Ice Maker, Range Hood, Refrigerator
Subdivision
Macons Court
Lot features
Back Yard, City Lot, Cleared, Front Yard, Landscaped
Elementary school
Wake County Schools
Middle school
Wake County Schools
High school
Wake County Schools
Standard status
Active
APN
171415538816000 0326477
Size
1,992 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lo17 Macons Court BM2004-1059
Tax Annual Amount
2837
Legal Description
Lo17 Macons Court BM2004-1059
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Forced Air, Electric (Heating)
Cooling system
Heat Pump, Electric
Water source
Public
Building Details
Year built
2007
Floors in Building
1
Flooring type
Laminate, Vinyl, Carpet
Building materials
Vinyl Siding
Roof type
Asphalt
Architectural style
Ranch
Listing Agency:
Funderburk Signature Propertie
Listed By:
Ritch Funderburk
(919) 906-9071
Added: May 4
Changed: Sep 16
Last Checked: Oct 1 at 3:06PM
MLS# 10164641
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 1,992-square-foot ranch duplex was built in 2007 on a 0.23-acre lot. The property uses low-maintenance slab construction with vinyl siding and includes electric forced-air and heat-pump systems, vinyl, laminate, and carpet flooring, and ceiling fans. Each unit includes kitchen appliances such as an electric range and refrigerator. Unit 102 was fully renovated in 2026.
The property is located at 1007 N King Charles Road in Raleigh, within the 27610 postal area. Public water and public sewer serve the site, with cable available. Unit 101 is occupied under a month-to-month arrangement, while Unit 102 is leased for 12 months through June 2027. The property is zoned RX-3.
The property is located at 1007 N King Charles Road in Raleigh, within the 27610 postal area. Public water and public sewer serve the site, with cable available. Unit 101 is occupied under a month-to-month arrangement, while Unit 102 is leased for 12 months through June 2027. The property is zoned RX-3.
Key Highlights
- 1,992‑square‑foot duplex on a 0.23‑acre lot
- Ranch design with slab construction and vinyl siding
- Built in 2007
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
$23,001
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
5.11%
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%
$460,020
$460.0K
Cap Rate 7%
$328,586
$328.6K
Cap Rate 9%
$255,567
$255.6K
Market Conditions
NOI Build-Up for 1,992 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
$34.7K $17.40/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$32.9K $16.50/SF
− OpEx
−$9.9K −$4.95/SF
NOI
$23.0K $11.55/SF
Area
ZIP 27610
Vacancy
5.20%
Lease Rate
$17.40 /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%
$460,020
Cap Rate 7%
$328,586
Cap Rate 9%
$255,567
Alternative Uses
Best Use
Multifamily LT 5
$328.6K
$287.5K – $383.4K
NOI $23,001 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$295.0K
$258.2K – $344.2K
NOI $20,652 @ 7.0% cap · market cap 4.59%
Theoretical Best
Specialty Retail
$583.9K
$511.0K – $681.3K
NOI $40,876 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
Explore this area
Business Placement
Demographics for 27610, NC
75,164
Population
29,245
Households
2.6
Avg Household Size
34
Median Age
28%
College-Educated
86%
High-School Grad
45.2 sq mi
ZIP Area
1,663
Density / Sq Mi
$66,245
Median Household Income
$37,582
Median Earnings
$1,319
Median Rent
$260,300
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?
Duplex - Two-unit residential property with slab construction, vinyl siding, and public water and sewer service.
Where is this duplex located?
The property is located at 1007 N King Charles Road Raleigh, NC.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 1,992‑square‑foot duplex on a 0.23‑acre lot; Ranch design with slab construction and vinyl siding; Built in 2007
