Triplex with Two-Bedroom
For Sale
$600,000
Pending
4929 Coral Ridge Court, Raleigh, NC 27616
MULTI_FAMILY - Raleigh, NC
Property Size2,949 SF
Lot Size0.34 Acres
Days on Market16
Property Features for 4929 Coral Ridge Court
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R-10
Bedrooms
6
Bathrooms
5
Full bathrooms
3
Half bathrooms
3
Rooms
Bathroom 3, Bedroom 5, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 3, Bathroom 5, Bathroom 4, Bathroom 1, Bedroom 2, Bathroom 6, Bedroom 4
Parking features
Off Street
Subdivision
Fairway
Standard status
Pending
APN
172615549852000 0116191
Size
2,949 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Lo49 Fairway North Sub. 2 Bmno.-
Tax Annual Amount
4164
Legal Description
Lo49 Fairway North Sub. 2 Bmno.-
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1996
Floors in Building
2
Number of units
3
Flooring type
Vinyl
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
Bliss & Oak Realty And Propert
(919) 369-1540
Listed By:
Tanya Lynn Laton · License #326349
(919) 369-1540
Added: Jul 28
Changed: Aug 10
Last Checked: Aug 12 at 12:06AM
MLS# 10184627
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 1996 triplex contains three residential units, with each unit offering two bedrooms and one and a half baths. The 2,949-square-foot property features vinyl siding, vinyl flooring, central air, an asphalt roof, and off-street parking.
The property occupies a 0.34-acre lot at 4929 Coral Ridge Court in Raleigh, North Carolina. It is served by public water and public sewer and carries R-10 zoning, providing a defined multifamily configuration within the Raleigh market.
The property occupies a 0.34-acre lot at 4929 Coral Ridge Court in Raleigh, North Carolina. It is served by public water and public sewer and carries R-10 zoning, providing a defined multifamily configuration within the Raleigh market.
Key Highlights
- Three‑unit property with two bedrooms and one and a half baths per unit
- 2,949 square feet of building area
- 0.34‑acre 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 - Each unit includes two bedrooms, one and a half baths, vinyl flooring, and central air.
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 property with two bedrooms and one and a half baths per unit; 2,949 square feet of building area; 0.34‑acre lot
