Three-Unit Residential
For Sale
$429,000
3761 Wakefield Lane, Garner, NC 27529
Residential Income, Garner, NC
Property Size2,001 SF
Lot Size0.60 Acres
Price / SF$214.39
Days on Market46
Property Features for 3761 Wakefield Lane
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R-20
Bedrooms
2
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 2, Bathroom 3, Bathroom 4, Basement, Bathroom 1, Bedroom 1
Parking features
Driveway, On Street
Patio and Porch features
Porch
Exterior features
Rain Gutters
Fencing
Chain Link
Basement
Finished
Subdivision
Not in a Subdivision
Elementary school
Wake - Aversboro Elementary
Middle school
Wake - East Garner Middle
High school
Wake - South Garner High
Standard status
Active
APN
161804534105000 0107531
Size
2,001 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Lo10 Turner Farms Sub Rev Se3
Tax Annual Amount
1746
Legal Description
Lo10 Turner Farms Sub Rev Se3
Utilities
Sewer type
Septic Tank
Heating system
Forced Air, Electric (Heating)
Cooling system
Wall Unit(s), Central Air
Building Details
Year built
1966
Floors in Building
1
Number of units
3
Flooring type
Wood, Tile
Building materials
Brick Veneer, Vinyl Siding
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Berkshire Hathaway HomeService · Berkshire Hathaway HomeServices
(919) 782-6641
Listed By:
George Patrick III
(919) 278-7420
Added: Aug 21
Changed: Oct 1
Last Checked: Oct 5 at 10:06PM
MLS# 10187875
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 R-20-zoned residential property includes three living units totaling 2,001 square feet. The largest unit measures 1,530 square feet and is configured as a rental residence. A second unit includes a bedroom, bathroom, laundry area, and kitchen, while the third is a studio with a full bathroom and kitchen. Renovations completed by current and prior owners support the property's existing condition.
The 0.6-acre site includes a 40-by-10-foot storage building divided into three storage units, along with a porch, chain-link fencing, driveway parking, and rain gutters. Septic service and Aqua water serve the property. Located in Garner, the site is approximately 20 minutes from North Hills, 30 minutes from RDU Airport, and 12 minutes from White Oak Crossing. The property consists of two parcels and includes a pipeline easement.
The 0.6-acre site includes a 40-by-10-foot storage building divided into three storage units, along with a porch, chain-link fencing, driveway parking, and rain gutters. Septic service and Aqua water serve the property. Located in Garner, the site is approximately 20 minutes from North Hills, 30 minutes from RDU Airport, and 12 minutes from White Oak Crossing. The property consists of two parcels and includes a pipeline easement.
Key Highlights
- Three living units totaling 2,001 square feet
- Largest unit measures 1,530 square feet
- 0.6‑acre site with a 40‑by‑10‑foot storage building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,105
Cap Rate
5.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$462,100
$462.1K
Cap Rate 7%
$330,071
$330.1K
Cap Rate 9%
$256,722
$256.7K
Market Conditions
NOI Build-Up for 2,001 SF
Gross rent
$34.8K $17.40/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$33.0K $16.50/SF
− OpEx
−$9.9K −$4.95/SF
NOI
$23.1K $11.55/SF
Area
Wake County, NC
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 Rate 5%
$462,100
Cap Rate 7%
$330,071
Cap Rate 9%
$256,722
Alternative Uses
Best Use
Multifamily LT 5
$330.1K
$288.8K – $385.1K
NOI $23,105 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$292.6K
$256.0K – $341.4K
NOI $20,483 @ 7.0% cap · market cap 4.77%
Theoretical Best
Specialty Retail
$571.3K
$499.9K – $666.6K
NOI $39,993 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Explore this area
Business Placement
Demographics for 27529, NC
54,250
Population
22,089
Households
2.5
Avg Household Size
39
Median Age
41%
College-Educated
93%
High-School Grad
57.7 sq mi
ZIP Area
940
Density / Sq Mi
$86,426
Median Household Income
$47,686
Median Earnings
$1,379
Median Rent
$325,600
Median Home Value
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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?
Triplex - R-20-zoned property offers three living units, storage facilities, and septic and Aqua water service.
Where is this triplex located?
The property is located at 3761 Wakefield Lane Garner, NC.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Three living units totaling 2,001 square feet; Largest unit measures 1,530 square feet; 0.6‑acre site with a 40‑by‑10‑foot storage building
