4-Bedroom Income
For Sale
$290,000
1420 Collegiate Circle, Raleigh, NC 27606
Apartment configuration features private bedrooms and multiple bathrooms near NC State University.
Property Size1,071 SF
Days on Market26
Property Features for 1420 Collegiate Circle
General Information
Standard status
Active
Size
1,071 SF
Property subtype
Apartment
Additional Details
Asking Price
$290,000
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,477
Building Details
Building Size
1,071 SF
Year Built
1997
Listing Agency:
EXP Realty LLC
(336) 416-3078
Listed By:
Casey Styers · License #283515
(336) 416-3078
Source:
Dustinbennett
Added: Jul 29
Changed: Aug 10
Last Checked: Aug 22 at 10:50AM
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.
This residential income property is an apartment with four bedrooms and four bathrooms, including private bedroom accommodations. The property was built in 1997 and is located at 1420 Collegiate Circle in Raleigh, North Carolina.
Its position near NC State University places the apartment within a university-area setting. The property is offered for sale as a residential income asset.
Its position near NC State University places the apartment within a university-area setting. The property is offered for sale as a residential income asset.
Key Highlights
- Four‑bedroom, four‑bathroom apartment
- Private bedroom configuration
- Built in 1997
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
$10,905
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
3.76%
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%
$218,100
$218.1K
Cap Rate 7%
$155,786
$155.8K
Cap Rate 9%
$121,167
$121.2K
Market Conditions
NOI Build-Up for 1,071 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
$21.2K $19.80/SF
− Vacancy
−$1.4K −$1.29/SF
EGI
$19.8K $18.51/SF
− OpEx
−$8.9K −$8.33/SF
NOI
$10.9K $10.18/SF
Area
Raleigh, NC
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$218,100
Cap Rate 7%
$155,786
Cap Rate 9%
$121,167
Alternative Uses
Best Use
Apartment 5plus
$155.8K
$136.3K – $181.8K
NOI $10,905 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$294.3K
$257.5K – $343.4K
NOI $20,603 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
Explore this area
Business Placement
Demographics for 27606, NC
48,343
Population
22,199
Households
2.2
Avg Household Size
29
Median Age
59%
College-Educated
93%
High-School Grad
24.5 sq mi
ZIP Area
1,973
Density / Sq Mi
$75,640
Median Household Income
$40,950
Median Earnings
$1,369
Median Rent
$423,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Apartment configuration features private bedrooms and multiple bathrooms near NC State University.
Where is this residential income property located?
The property is located at 1420 Collegiate Circle Raleigh, NC.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Four‑bedroom, four‑bathroom apartment; Private bedroom configuration; Built in 1997
