Three-Unit Residential
For Sale
$428,900
3761 Wakefield Lane, Garner, NC 27529
Separate kitchen and bathroom facilities serve each residence, with a detached three-bay storage building on the property.
Property Size2,001 SF
Price / SF$214.34
Days on Market71
Property Features for 3761 Wakefield Lane
General Information
Standard status
Active
Size
2,001 SF
Property subtype
Residential Income
Zoning
R-20
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$1,746
Amenities
Rain Gutters
Building Details
Building Size
2,001 SF
Year Built
1966
Stories
1
Listing Agency:
Berkshire Hathaway HomeService
(919) 782-6641
Listed By:
George Patrick III
(919) 278-7420
Source:
Dwellraleigh
Added: Aug 21
Changed: Oct 30
Last Checked: Oct 29 at 6:38PM
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
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Investment Insights
Based on property information with market context.
This triplex contains three distinct residences: a 1,530-square-foot unit, a second unit with a bedroom, bathroom, laundry, and kitchen, and a studio with a full bathroom and kitchen. The property dates to 1966 and has undergone renovations by current and prior owners. A 40-by-10-foot storage building is divided into three storage areas.
The property consists of two parcels and is served by septic and Aqua water service. An easement for a pipeline crosses the property, and access is via a private road without a road agreement. The listing identifies two bedrooms because a septic permit is not in place; Wake County land-use correspondence should be reviewed. Zoning is R-20.
The property consists of two parcels and is served by septic and Aqua water service. An easement for a pipeline crosses the property, and access is via a private road without a road agreement. The listing identifies two bedrooms because a septic permit is not in place; Wake County land-use correspondence should be reviewed. Zoning is R-20.
Key Highlights
- Three residential units, including a 1,530‑square‑foot unit and a studio
- 40‑by‑10‑foot detached storage building configured as three storage units
- Two parcels with R‑20 zoning
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 4.78%
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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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
3
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Triplex - Separate kitchen and bathroom facilities serve each residence, with a detached three-bay storage building on the property.
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 $428,900.
What are key features of this property?
This property features: Three residential units, including a 1,530‑square‑foot unit and a studio; 40‑by‑10‑foot detached storage building configured as three storage units; Two parcels with R‑20 zoning
