Renovated Triplex with
For Sale
$429,000
3761 Wakefield Ln, Garner, NC 27529
Three-unit property with varied layouts, a detached storage building, septic service, and Aqua water.
Property Size2,001 SF
Price / SF$214.39
Days on Market55
Property Features for 3761 Wakefield Ln
General Information
Standard status
Active
Size
2,001 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$1,746
Listing Agency:
Berkshire Hathaway HomeService
(919) 782-6641
Listed By:
George Patrick III
(919) 278-7420
Source:
Exprealty
Added: Aug 21
Changed: Oct 3
Last Checked: Oct 12 at 9:06PM
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 Berkshire Hathaway HomeService
Investment Insights
Based on property information with market context.
This triplex includes three separate living units with varied configurations. One unit measures 1,530 square feet, while another includes a bedroom, bathroom, laundry area, and kitchen. The third is a studio with a full bathroom and kitchen. Renovations completed by current and previous ownership have maintained the property in good condition. A detached 40-by-10-foot storage building is divided into three storage units, and the property includes room for animals, equipment, or hobbies.
The property is located at 3761 Wakefield Ln in Garner, with access to North Hills, RDU airport, and the White Oak Crossing food and retail district within the stated drive times. Septic and Aqua water service are in place. The offering consists of two parcels, includes a pipeline easement, and is reached by a private road without a road agreement. The property is listed as having two bedrooms because a septic permit is not in place; a Wake County land-use letter is available for review.
The property is located at 3761 Wakefield Ln in Garner, with access to North Hills, RDU airport, and the White Oak Crossing food and retail district within the stated drive times. Septic and Aqua water service are in place. The offering consists of two parcels, includes a pipeline easement, and is reached by a private road without a road agreement. The property is listed as having two bedrooms because a septic permit is not in place; a Wake County land-use letter is available for review.
Key Highlights
- Three‑unit property with 1,530‑square‑foot primary unit
- 40‑by‑10‑foot detached storage building divided into 3 units
- Additional studio unit includes a full bathroom and kitchen
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.
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Current Use
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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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with varied layouts, a detached storage building, septic service, and Aqua water.
Where is this triplex located?
The property is located at 3761 Wakefield Ln 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‑unit property with 1,530‑square‑foot primary unit; 40‑by‑10‑foot detached storage building divided into 3 units; Additional studio unit includes a full bathroom and kitchen
