Victorian Triplex with Wraparound
612 Polk Street, Raleigh, NC 27604
For Sale
$700,000
Residential, Raleigh, NC
Property Size2,056 SF
Lot Size0.13 Acres
Price / SF$340.47
Days on Market97
Property Features for 612 Polk Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Patio and Porch features
Interior features
Exterior features
Fireplace
Appliances
Subdivision
Elementary school
Middle school
High school
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Flooring type
Building materials
Roof type
Architectural style
Additional Structures
Listing Agency:
Rich Realty Group
(919) 710-0256
Listed By:
David Mang · License NC #288282
(919) 757-3652
Added: Aug 10
Changed: Oct 24
Last Checked: Nov 14 at 12:06AM
MLS# 10185413
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.
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Investment Insights
Based on property information with market context.
This two-story Victorian property is configured as a triplex and contains 2,056 square feet on a 0.13-acre lot. The building features a steep hipped shingle roof, gabled front projection, wraparound porch with Tuscan columns, bay window, classic two-over-two windows, hardwood flooring, crown molding, built-in features, and fireplaces. Cooling is provided by central air, multi-unit systems, and window or wall units. The property also includes a driveway, deck, rain gutters, and public water and sewer service.
Located at 612 Polk Street in Raleigh, the property carries R-10 zoning. A detached rear structure, originally constructed as a two-car garage, is currently used for storage. The room configuration includes three bedrooms and three bathrooms, with appliances including ranges, refrigerators, a washer, and a dryer.
Located at 612 Polk Street in Raleigh, the property carries R-10 zoning. A detached rear structure, originally constructed as a two-car garage, is currently used for storage. The room configuration includes three bedrooms and three bathrooms, with appliances including ranges, refrigerators, a washer, and a dryer.
Key Highlights
- Triplex configuration with 2,056 square feet of building area
- 0.13‑acre lot at 612 Polk Street, Raleigh, NC 27604
- Victorian architecture with wraparound porch and Tuscan columns
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,497
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$469,940
$469.9K
Cap Rate 7%
$335,671
$335.7K
Cap Rate 9%
$261,078
$261.1K
Market Conditions
NOI Build-Up for 2,056 SF
Gross rent
$35.8K $17.40/SF
− Vacancy
−$2.2K −$1.07/SF
EGI
$33.6K $16.33/SF
− OpEx
−$10.1K −$4.90/SF
NOI
$23.5K $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%
$469,940
Cap Rate 7%
$335,671
Cap Rate 9%
$261,078
Alternative Uses
Best Use
Multifamily LT 5
$335.7K
$293.7K – $391.6K
NOI $23,497 @ 7.0% cap · market cap 3.36%
Second Best
Apartment 5plus
$299.1K
$261.7K – $348.9K
NOI $20,935 @ 7.0% cap · market cap 2.99%
Theoretical Best
Specialty Retail
$565.0K
$494.4K – $659.2K
NOI $39,552 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,178
Businesses Nearby
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Business Placement
Demographics for 27604, NC
46,076
Population
20,828
Households
2.2
Avg Household Size
36
Median Age
41%
College-Educated
89%
High-School Grad
19.1 sq mi
ZIP Area
2,412
Density / Sq Mi
$72,793
Median Household Income
$44,471
Median Earnings
$1,386
Median Rent
$293,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Two-story income property with three bedrooms, three bathrooms, public utilities, and a detached rear storage structure.
Where is this triplex located?
The property is located at 612 Polk Street Raleigh, NC.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Triplex configuration with 2,056 square feet of building area; 0.13‑acre lot at 612 Polk Street, Raleigh, NC 27604; Victorian architecture with wraparound porch and Tuscan columns
