Renovated Three-Unit
New
For Sale
$615,000
5367 Wayne Street, Raleigh, NC 27606
Residential Income, Raleigh, NC
Property Size3,000 SF
Lot Size1.04 Acres
Price / SF$205
Days on Market3
Property Features for 5367 Wayne Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R-10
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 1, Bedroom 4, Bedroom 6, Bedroom 5, Bedroom 2, Bathroom 4, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 5, Bathroom 6
Parking features
Parking Lot, Off Street
Subdivision
Wayneridge
Elementary school
Wake County Schools
Middle school
Wake County Schools
High school
Wake County Schools
Standard status
Active
APN
078317210170
Size
3,000 SF
Lot size
1.04 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Lo13 Prop Wayneridge Associates 83-426
Tax Annual Amount
5540
Legal Description
Lo13 Prop Wayneridge Associates 83-426
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1984
Floors in Building
1
Number of units
3
Flooring type
Carpet, Tile, Vinyl
Building materials
Engineered Wood
Roof type
Shingle
Listing Agency:
Deaton Investment Real Estate
(919) 847-1117
Listed By:
Thomas Furlow · License #222598
(919) 412-3913
Added: Oct 12
Last Checked: Oct 14 at 8:06AM
MLS# 10197908
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 single-story triplex contains three matching residences, each with two bedrooms, two bathrooms and approximately 1,000 square feet. The 3,000-square-foot property was built in 1984 and occupies 1.04 acres. Improvements include work to the roof, windows, siding, decks, HVAC systems and water heaters in 2016, with additional interior and exterior updates, flooring and HVAC work noted from 2021 through 2026. The property is zoned R-10 and has public water and sewer service.
All three units are currently leased, with one scheduled to become available in November 2026; the other two leases run through June 30, 2027. The property is near NC State University, I-40 and Crossroads Plaza, with Raleigh and Cary employment centers in the surrounding area.
All three units are currently leased, with one scheduled to become available in November 2026; the other two leases run through June 30, 2027. The property is near NC State University, I-40 and Crossroads Plaza, with Raleigh and Cary employment centers in the surrounding area.
Key Highlights
- Three units, each approximately 1,000 square feet with 2 bedrooms and 2 bathrooms
- 3,000‑square‑foot building on 1.04 acres
- Built in 1984; major building‑component work completed in 2016
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,285
Cap Rate
5.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$685,700
$685.7K
Cap Rate 7%
$489,786
$489.8K
Cap Rate 9%
$380,944
$380.9K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$52.2K $17.40/SF
− Vacancy
−$3.2K −$1.07/SF
EGI
$49.0K $16.33/SF
− OpEx
−$14.7K −$4.90/SF
NOI
$34.3K $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%
$685,700
Cap Rate 7%
$489,786
Cap Rate 9%
$380,944
Alternative Uses
Best Use
Multifamily LT 5
$489.8K
$428.6K – $571.4K
NOI $34,285 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$436.4K
$381.8K – $509.1K
NOI $30,546 @ 7.0% cap · market cap 4.97%
Theoretical Best
Specialty Retail
$824.5K
$721.4K – $961.9K
NOI $57,713 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
686
Businesses Nearby
Explore this area
Business Placement
Demographics for 27606, NC
48,343
Population
22,199
Households
2.2
Avg Household Size
29
Median Age
59%
College-Educated
93%
High-School Grad
24.5 sq mi
ZIP Area
1,973
Density / Sq Mi
$75,640
Median Household Income
$40,950
Median Earnings
$1,369
Median Rent
$423,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three matching residences provide two bedrooms and two bathrooms apiece, with one scheduled to become available in November 2026.
Where is this triplex located?
The property is located at 5367 Wayne Street Raleigh, NC.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Three units, each approximately 1,000 square feet with 2 bedrooms and 2 bathrooms; 3,000‑square‑foot building on 1.04 acres; Built in 1984; major building‑component work completed in 2016
