Triplex with Two-Bedroom
For Sale
$600,000
Pending
4929 Coral Ridge Court, Raleigh, NC 27616
Three-unit residential property with consistent two-bedroom, one-and-a-half-bath layouts.
Property Size2,949 SF
Lot Size0.34 Acres
Days on Market15
Property Features for 4929 Coral Ridge Court
General Information
Standard status
Pending
Size
2,949 SF
Lot size
0.34 Acres
Property subtype
Triplex
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,163
Building Details
Building Size
2,949 SF
Year Built
1996
Listing Agency:
Bliss & Oak Realty And Propert
(919) 369-1540
Listed By:
Tanya Lynn Laton · License #326349
(919) 369-1540
Source:
Sherihagerty
Added: Jul 28
Changed: Aug 9
Last Checked: Aug 9 at 2:07AM
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 Bliss & Oak Realty And Propert
Investment Insights
Based on property information with market context.
Built in 1996, this Raleigh triplex contains three residential units, each configured with 2 bedrooms and 1.5 baths. The consistent unit layout provides a straightforward multifamily configuration within an established residential setting.
The property occupies a 14,810-square-foot lot at 4929 Coral Ridge Court in Raleigh, North Carolina 27616. Its three-unit design and uniform floor plans offer a clearly defined residential income property format.
The property occupies a 14,810-square-foot lot at 4929 Coral Ridge Court in Raleigh, North Carolina 27616. Its three-unit design and uniform floor plans offer a clearly defined residential income property format.
Key Highlights
- Three‑unit multifamily property in Raleigh, NC
- Each unit includes 2 bedrooms and 1.5 baths
- 14,810‑square‑foot lot
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
$34,051
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
5.68%
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%
$681,020
$681.0K
Cap Rate 7%
$486,443
$486.4K
Cap Rate 9%
$378,344
$378.3K
Market Conditions
NOI Build-Up for 2,949 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
$51.3K $17.40/SF
− Vacancy
−$2.7K −$0.90/SF
EGI
$48.6K $16.50/SF
− OpEx
−$14.6K −$4.95/SF
NOI
$34.1K $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%
$681,020
Cap Rate 7%
$486,443
Cap Rate 9%
$378,344
Alternative Uses
Best Use
Multifamily LT 5
$486.4K
$425.6K – $567.5K
NOI $34,051 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$431.3K
$377.4K – $503.1K
NOI $30,188 @ 7.0% cap · market cap 5.03%
Theoretical Best
Specialty Retail
$842.0K
$736.8K – $982.4K
NOI $58,941 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
567
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?
Triplex - Three-unit residential property with consistent two-bedroom, one-and-a-half-bath layouts.
Where is this triplex located?
The property is located at 4929 Coral Ridge Court Raleigh, NC.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Three‑unit multifamily property in Raleigh, NC; Each unit includes 2 bedrooms and 1.5 baths; 14,810‑square‑foot lot
