Duplex with Two-Bedroom
New
For Sale
$419,000
3300 Atlantic Avenue, Raleigh, NC 27604
One side is leased to long-term tenants, while both units include washer and dryer hookups.
Property Size2,225 SF
Days on Market7
Property Features for 3300 Atlantic Avenue
General Information
Standard status
Active
Size
2,225 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Road Access
Yes
Amenities
covered rear porch/patio
spacious backyard
storage shed
washer/dryer hookups
Building Details
Building Size
2,225 SF
Year Built
1968
Listing Agency:
Coldwell Banker Advantage
Listed By:
Melissa Gordon
(919) 783-6066
Source:
Dustinbennett
Added: Oct 14
Changed: Oct 16
Last Checked: Oct 19 at 2:34PM
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 Coldwell Banker Advantage
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Investment Insights
Based on property information with market context.
This duplex contains two units, each arranged with two bedrooms and one and a half bathrooms. Kitchen finishes include granite countertops and tile flooring, while the upstairs rooms have hardwood floors. Both sides also offer a storage room off the rear porch with washer and dryer hookups. A covered patio, backyard, storage shed, and parking serve the property.
Built in 1968, the property is on Atlantic Avenue in Raleigh, north of the Beltline and near the Iron Works development area. One unit is leased to long-term tenants, and the property has an established rental history.
Built in 1968, the property is on Atlantic Avenue in Raleigh, north of the Beltline and near the Iron Works development area. One unit is leased to long-term tenants, and the property has an established rental history.
Key Highlights
- Two units, each with 2 bedrooms and 1.5 bathrooms
- One unit currently leased to long‑term tenants
- Granite countertops and tile flooring in each kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,428
Cap Rate
6.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$508,560
$508.6K
Cap Rate 7%
$363,257
$363.3K
Cap Rate 9%
$282,533
$282.5K
Market Conditions
NOI Build-Up for 2,225 SF
Gross rent
$38.7K $17.40/SF
− Vacancy
−$2.4K −$1.07/SF
EGI
$36.3K $16.33/SF
− OpEx
−$10.9K −$4.90/SF
NOI
$25.4K $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%
$508,560
Cap Rate 7%
$363,257
Cap Rate 9%
$282,533
Alternative Uses
Best Use
Multifamily LT 5
$363.3K
$317.9K – $423.8K
NOI $25,428 @ 7.0% cap · market cap 6.07%
Second Best
Apartment 5plus
$323.6K
$283.2K – $377.6K
NOI $22,655 @ 7.0% cap · market cap 5.41%
Theoretical Best
Specialty Retail
$611.5K
$535.0K – $713.4K
NOI $42,803 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
775
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - One side is leased to long-term tenants, while both units include washer and dryer hookups.
Where is this duplex located?
The property is located at 3300 Atlantic Avenue Raleigh, NC.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1.5 bathrooms; One unit currently leased to long‑term tenants; Granite countertops and tile flooring in each kitchen
