Duplex with Fenced
New
For Sale
$449,000
3216 Atlantic Avenue, Raleigh, NC 27604
Residential Income, Raleigh, NC
Property Size2,944 SF
Lot Size0.36 Acres
Price / SF$152.51
Days on Market1
Property Features for 3216 Atlantic Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-6
Bedrooms
6
Bathrooms
5
Full bathrooms
4
Half bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bathroom 6, Bedroom 5, Bedroom 6, Bathroom 5, Bedroom 1, Bathroom 2, Bathroom 4, Bedroom 2, Bathroom 3, Bedroom 4
Parking features
Driveway
Patio and Porch features
Patio
Interior features
Dual Closets, Laminate Counters, Walk-In Closet(s), Walk-In Shower
Exterior features
Fenced Yard, Private Yard
Fencing
Fenced
Appliances
Free-Standing Refrigerator, Range
Subdivision
Brentwood Estates
Lot features
Back Yard
Elementary school
Wake - Brentwood Elementary
Middle school
Wake - Centennial Campus Middle
High school
Wake - Southeast Raleigh High
Standard status
Active
APN
171511750635000 0075311
Size
2,944 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Lo31 Grady Thermon Ferrell Jr Pro Bl3
Tax Annual Amount
3366
Legal Description
Lo31 Grady Thermon Ferrell Jr Pro Bl3
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Heat Pump
Water source
Public
Amenities
rear patio
fenced backyard
granite countertops
laminate countertops
hardwood floors
Building Details
Year built
1970
Floors in Building
2
Number of units
2
Flooring type
Tile, Hardwood, Plank
Building materials
Brick Veneer, Vinyl Siding
Roof type
Shingle
Listing Agency:
Coldwell Banker Advantage · Coldwell Banker Real Estate
(919) 847-2222
Listed By:
Melissa Gordon
(919) 614-6878
Added: Oct 14
Last Checked: Oct 14 at 9:06PM
MLS# 10198328
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 Raleigh duplex contains 2,944 square feet across two units, each with three bedrooms and 2.5 bathrooms. Interior features include hardwood flooring upstairs, tile and plank flooring, and kitchen counters in granite and laminate. A rear patio opens to a fenced backyard, and driveway parking serves the property. Built in 1970, the building has brick veneer and vinyl siding, natural gas heat, and heat pump cooling.
The property is on Atlantic Avenue in Raleigh, near the Beltline and the Iron Works development area. The 0.36-acre site is zoned R-6 and served by public water and sewer. One unit is leased to long-term tenants.
The property is on Atlantic Avenue in Raleigh, near the Beltline and the Iron Works development area. The 0.36-acre site is zoned R-6 and served by public water and sewer. One unit is leased to long-term tenants.
Key Highlights
- Two units, each with 3 bedrooms and 2.5 bathrooms
- 2,944 square feet on a 0.36‑acre lot
- One unit leased to long‑term tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,645
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$672,900
$672.9K
Cap Rate 7%
$480,643
$480.6K
Cap Rate 9%
$373,833
$373.8K
Market Conditions
NOI Build-Up for 2,944 SF
Gross rent
$51.2K $17.40/SF
− Vacancy
−$3.2K −$1.07/SF
EGI
$48.1K $16.33/SF
− OpEx
−$14.4K −$4.90/SF
NOI
$33.6K $11.43/SF
Area
Raleigh, NC
Vacancy
6.17%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$672,900
Cap Rate 7%
$480,643
Cap Rate 9%
$373,833
Alternative Uses
Best Use
Multifamily LT 5
$480.6K
$420.6K – $560.8K
NOI $33,645 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$428.2K
$374.7K – $499.6K
NOI $29,976 @ 7.0% cap · market cap 6.68%
Theoretical Best
Specialty Retail
$809.1K
$707.9K – $943.9K
NOI $56,635 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
859
Businesses Nearby
Explore this area
Business Placement
Demographics for 27604, NC
46,076
Population
20,828
Households
2.2
Avg Household Size
36
Median Age
41%
College-Educated
89%
High-School Grad
19.1 sq mi
ZIP Area
2,412
Density / Sq Mi
$72,793
Median Household Income
$44,471
Median Earnings
$1,386
Median Rent
$293,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom units provide separate living spaces, with one side occupied by long-term tenants.
Where is this duplex located?
The property is located at 3216 Atlantic Avenue Raleigh, NC.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 2.5 bathrooms; 2,944 square feet on a 0.36‑acre lot; One unit leased to long‑term tenants
