Renovated Duplex with Newer
New
For Sale
$519,500
4604 Lavista Court, Raleigh, NC 27616
Two leased units with updated interiors and access to major Raleigh-area routes.
Property Size2,050 SF
Days on Market6
Property Features for 4604 Lavista Court
General Information
Standard status
Active
Size
2,050 SF
Property subtype
Duplex
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Average Monthly Rent
$1,325
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,574
Building Details
Building Size
2,050 SF
Year Built
1980
Listing Agency:
1st Choice Realty of Triangle
Listed By:
Todd Averette · License #278256
(919) 475-8310
Source:
Dustinbennett
Added: Sep 1
Changed: Sep 6
Last Checked: Sep 5 at 7:39AM
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 1st Choice Realty of Triangle
Investment Insights
Based on property information with market context.
Built in 1980, this duplex contains two well-maintained residential units, providing an established income-producing configuration. One unit has new carpet, while the other has undergone a full renovation. Both units are currently leased, supporting immediate occupancy continuity for a purchaser.
The property sits at the end of a cul-de-sac near I-540, Hwy 401, and the Triangle Town Center area. A replacement roof completed in 2020 adds a recent major improvement to the property’s physical profile.
The property sits at the end of a cul-de-sac near I-540, Hwy 401, and the Triangle Town Center area. A replacement roof completed in 2020 adds a recent major improvement to the property’s physical profile.
Key Highlights
- Two‑unit duplex with both residences currently leased
- Unit A features fresh new carpet
- Unit B has been fully renovated
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,671
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$473,420
$473.4K
Cap Rate 7%
$338,157
$338.2K
Cap Rate 9%
$263,011
$263.0K
Market Conditions
NOI Build-Up for 2,050 SF
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.
Gross rent
$35.7K $17.40/SF
− Vacancy
−$1.9K −$0.90/SF
EGI
$33.8K $16.50/SF
− OpEx
−$10.1K −$4.95/SF
NOI
$23.7K $11.55/SF
Area
ZIP 27616
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$473,420
Cap Rate 7%
$338,157
Cap Rate 9%
$263,011
Alternative Uses
Best Use
Multifamily LT 5
$338.2K
$295.9K – $394.5K
NOI $23,671 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$299.8K
$262.3K – $349.8K
NOI $20,985 @ 7.0% cap · market cap 4.04%
Theoretical Best
Specialty Retail
$585.3K
$512.2K – $682.9K
NOI $40,973 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
Explore this area
Business Placement
Demographics for 27616, NC
56,941
Population
24,282
Households
2.3
Avg Household Size
34
Median Age
43%
College-Educated
91%
High-School Grad
22.5 sq mi
ZIP Area
2,531
Density / Sq Mi
$81,534
Median Household Income
$41,601
Median Earnings
$1,514
Median Rent
$314,800
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?
Duplex - Two leased units with updated interiors and access to major Raleigh-area routes.
Where is this duplex located?
The property is located at 4604 Lavista Court Raleigh, NC.
What is the asking price?
The asking price for this property is $519,500.
What are key features of this property?
This property features: Two‑unit duplex with both residences currently leased; Unit A features fresh new carpet; Unit B has been fully renovated
