Updated Quadplex with Deck and
For Sale
$879,000
404 E Edenton Street, Raleigh, NC 27601
MULTI_FAMILY - Raleigh, NC
Property Size3,677 SF
Lot Size0.10 Acres
Price / SF$239.05
Days on Market47
Property Features for 404 E Edenton Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
OX-3
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 6, Bedroom 5, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 4, Bathroom 3, Bathroom 2, Bedroom 2, Bathroom 5
Parking features
Driveway, On Street
Patio and Porch features
Deck, Patio
Subdivision
Historic Oakwood
Standard status
Active
APN
170328899361000 0046564
Size
3,677 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Prcl 3 Frank & Augusta Turner Bm1998-468
Tax Annual Amount
5690
Legal Description
Prcl 3 Frank & Augusta Turner Bm1998-468
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air, Electric (Heating)
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
renovated kitchens and baths
refinished hardwood floors
in-unit laundry
Building Details
Year built
1910
Floors in Building
2
Number of units
4
Flooring type
Hardwood
Roof type
Shingle
Listing Agency:
EXP Realty LLC
(888) 584-9431
Listed By:
Anna Powell · License #290926
(910) 985-0441
Added: Jun 17
Changed: Aug 1
Last Checked: Aug 2 at 7:06AM
MLS# 10174559
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 updated quadplex offers four units with a mix of one- and two-bedroom apartments. Interior finishes include renovated kitchens and baths, refinished hardwood floors, and in-unit laundry. The building features hardwood flooring and a shingle roof. Heating is served by natural gas, forced air, and electric heating, with central air and ceiling fans for cooling.
Set on a 0.1-acre lot, the property is zoned OX-3 and uses public water and public sewer. Parking is available via a driveway and on-street spaces. Outdoor space includes both a deck and a patio.
Built in 1910, this multifamily property is located in Historic Oakwood, just minutes from Downtown Raleigh’s restaurants, shops, parks, and entertainment, supporting day-to-day convenience for residents.
Set on a 0.1-acre lot, the property is zoned OX-3 and uses public water and public sewer. Parking is available via a driveway and on-street spaces. Outdoor space includes both a deck and a patio.
Built in 1910, this multifamily property is located in Historic Oakwood, just minutes from Downtown Raleigh’s restaurants, shops, parks, and entertainment, supporting day-to-day convenience for residents.
Key Highlights
- Four‑unit quadplex with renovated kitchens and baths
- In‑unit laundry and refinished hardwood floors
- 0.1‑acre lot and 3,677 SF building size
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.0k | $17.40 |
| − Vacancy | −$3.9k | −$1.07 |
| EGI | $60.0k | $16.33 |
| − OpEx | −$18.0k | −$4.90 |
| NOI | $42.0k | $11.43 |
3,677 SF · lease $17.40/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$600.3K
$525.3K – $700.4K
NOI $42,023 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$534.9K
$468.0K – $624.0K
NOI $37,440 @ 7.0% cap · market cap 4.26%
Theoretical Best
Specialty Retail
$1.01M
$884.2K – $1.18M
NOI $70,736 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,218
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated four-unit quadplex with renovated kitchens and baths, hardwood floors, in-unit laundry, and deck/patio space.
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 $879,000.
What are key features of this property?
This property features: Four‑unit quadplex with renovated kitchens and baths; In‑unit laundry and refinished hardwood floors; 0.1‑acre lot and 3,677 SF building size
