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    Residential Income Triplex Title is generated by Realmo AI

    3104 Crandon Lane, Raleigh, NC 27604

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    Claim this Listing
    New
    For Sale
    $665,000

    MULTI_FAMILY - Raleigh, NC

    Property size:
    3,168 SF
    Lot size:
    0.70 Acres
    Price / SF:
    $209/SF
    Added:
    Jun 7, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 8 at 5:06 am

    Property Features for 3104 Crandon Lane

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R-6
    Bedrooms
    2
    Bathrooms
    3
    Rooms
    Bedroom 1, Bathroom 1, Bathroom 5, Bathroom 3, Bedroom 2, Bathroom 6, Bathroom 4, Bathroom 2
    Parking
    6
    Parking features
    Garage, Driveway
    Vegetation
    Partially Wooded
    Window features
    Double Pane Windows
    Patio and Porch features
    Deck
    Interior features
    Ceiling Fan(s), Eat-in Kitchen, Smooth Ceilings
    Fireplace
    1
    Appliances
    Disposal, Electric Range, Range Hood, Water Heater
    Standard status
    Active
    APN
    171516946849000 0136753
    Size
    3,168 SF
    Lot size
    0.70 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Description
    Loa-R Brentwood Estates Bm1987-00330
    Tax Annual Amount
    4626

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Central, Natural Gas
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    1985
    Floors in Building
    2
    Number of units
    3
    Flooring type
    Laminate, Carpet, Tile - Ceramic
    Building materials
    Vinyl Siding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Alfredo Rodriguez
    Alfredo Rodriguez

    Listing agent Alfredo Rodriguez

    Listing office The New Realty Group, LLC 1027 US 70 HWY W STE 104, Garner, NC

    Listing date Jun 7, 2026

    MLS# 10172530 Listing URL

    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.

    HighLights

    • Built in 1985 with vinyl siding and a shingle roof
    • Central heating with natural gas and central air with electric cooling
    • Ceiling fans and an eat‑in kitchen, plus smooth ceilings
    • Tile‑ceramic, laminate, and carpet flooring
    • Fireplace included
    • Public utilities: public water and public sewer

    Overview

    This for-sale residential income triplex includes three apartment units totaling 3,168 square feet, situated on approximately 0.7 acres. The property is being sold as-is. According to the listing, one tenant has been in place for 20 years, and one vacant apartment can be shown. Occupied apartments will be shown during the due diligence period.

    The property is located in a traditional neighborhood off Capital Blvd in Raleigh, North Carolina. The listing also identifies the zoning as R-6.

    For tenants, this configuration presents a multi-unit setup suitable for those seeking apartment-style living within a small income property framework. For buyers and investors, the asset offers a combination of established occupancy and a unit available for viewing, with access to the remaining units managed during due diligence. Prospective buyers should plan on completing their evaluation based on the seller’s as-is condition and the available showing access described in the listing.

    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 $55.1k $17.40
    − Vacancy −$3.4k −$1.07
    EGI $51.7k $16.33
    − OpEx −$15.5k −$4.90
    NOI $36.2k $11.43
    3,168 SF · lease $17.40/SF/yr · vacancy 6.17% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $517.2K
    $452.6K – $603.4K (±1% cap)
    NOI $36,205 @ 7.0% cap · market cap 5.44%
    Second Best
    Apartment 5plus
    $460.8K
    $403.2K – $537.6K (±1% cap)
    NOI $32,257 @ 7.0% cap · market cap 4.85%
    Theoretical Best
    Specialty Retail
    $870.6K
    $761.8K – $1.02M (±1% cap)
    NOI $60,944 @ 7.0% cap · market cap 9.16%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Chelyhousecleaning llc (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.596401
    Latitude
    35.82349

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    FAQs

    What type of property is this?
    Triplex - Triplex with one vacant unit available to show and long-term tenancy in place, sold as-is.
    Where is this triplex located?
    The property is located at 3104 Crandon Lane Raleigh, NC.
    What is the asking price?
    The asking price for this property is $665,000.
    What are key features of this property?
    This property features: Built in 1985 with vinyl siding and a shingle roof; Central heating with natural gas and central air with electric cooling; Ceiling fans and an eat‑in kitchen, plus smooth ceilings
    (919) 625-9452
    We can help!
    Listing Contact
    Alfredo Rodriguez
    Alfredo Rodriguez
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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