Updated Four-Unit
404 E Edenton Street, Raleigh, NC 27601
For Sale
$799,900
One- and two-bedroom residences feature in-unit laundry and refreshed interior finishes.
Property Size3,677 SF
Days on Market151
Property Features for 404 E Edenton Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Furnished
Multifamily Units
Amenities
in-unit laundry
Building Details
Building Size
Year Built
Listing Agency:
EXP Realty LLC
Listed By:
Anna Powell · License NC #290926
(919) 972-8448
Source:
Dustinbennett
Added: Jun 17
Changed: Nov 13
Last Checked: Nov 12 at 5:05PM
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 EXP Realty LLC
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Investment Insights
Based on property information with market context.
Built in 1910, this four-unit quadplex combines an established residential structure with updated interiors. The unit mix includes one- and two-bedroom residences, each offering in-unit laundry, updated kitchens and bathrooms, and refinished hardwood floors. Furniture and washer/dryer units are also included with an acceptable offer.
The property is located at 404 E Edenton Street in Raleigh’s Historic Oakwood area, near Downtown Raleigh. Restaurants, shops, parks, and entertainment are located nearby, placing a range of daily amenities within convenient reach of the property.
The property is located at 404 E Edenton Street in Raleigh’s Historic Oakwood area, near Downtown Raleigh. Restaurants, shops, parks, and entertainment are located nearby, placing a range of daily amenities within convenient reach of the property.
Key Highlights
- Four‑unit quadplex built in 1910
- Mix of one- and two‑bedroom units
- Updated kitchens and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,023
Cap Rate
5.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$840,460
$840.5K
Cap Rate 7%
$600,329
$600.3K
Cap Rate 9%
$466,922
$466.9K
Market Conditions
NOI Build-Up for 3,677 SF
Gross rent
$64.0K $17.40/SF
− Vacancy
−$3.9K −$1.07/SF
EGI
$60.0K $16.33/SF
− OpEx
−$18.0K −$4.90/SF
NOI
$42.0K $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%
$840,460
Cap Rate 7%
$600,329
Cap Rate 9%
$466,922
Alternative Uses
Best Use
Multifamily LT 5
$600.3K
$525.3K – $700.4K
NOI $42,023 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$534.9K
$468.0K – $624.0K
NOI $37,440 @ 7.0% cap · market cap 4.68%
Theoretical Best
Specialty Retail
$1.01M
$884.2K – $1.18M
NOI $70,736 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,218
Businesses Nearby
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Business Placement
Demographics for 27601, NC
9,965
Population
4,874
Households
2
Avg Household Size
32
Median Age
49%
College-Educated
88%
High-School Grad
1.8 sq mi
ZIP Area
5,536
Density / Sq Mi
$70,433
Median Household Income
$51,443
Median Earnings
$1,499
Median Rent
$572,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - One- and two-bedroom residences feature in-unit laundry and refreshed interior finishes.
Where is this quadplex located?
The property is located at 404 E Edenton Street Raleigh, NC.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Four‑unit quadplex built in 1910; Mix of one- and two‑bedroom units; Updated kitchens and bathrooms
