Three-Unit Townhome
New
For Sale
$1,599,000
616 Rocky Knob Court, Raleigh, NC 27601
Residential Income, Raleigh, NC
Property Size6,900 SF
Price / SF$231.74
Days on Market2
Property Features for 616 Rocky Knob Court
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
12
Bathrooms
12
Full bathrooms
12
Rooms
Bedroom 7, Bathroom 10, Bathroom 1, Bedroom 4, Bathroom 2, Bathroom 7, Bedroom 8, Bedroom 12, Bathroom 4, Bathroom 8, Bedroom 10, Bedroom 6, Bathroom 5, Bathroom 11, Bedroom 2, Bedroom 3, Bathroom 9, Dining Room, Bathroom 12, Bedroom 9, Bathroom 6, Bedroom 11, Laundry Room, Bedroom 1, Bathroom 3, Bedroom 5
Parking
6
Parking features
Garage
Patio and Porch features
Patio, Deck, Porch
Interior features
Bathtub/Shower Combination, Built-in Features, Ceiling Fan(s), Double Vanity, Eat-in Kitchen, High Ceilings, Kitchen Island, Kitchen/Dining Room Combination, Living/Dining Room Combination, Open Floorplan, Pantry, Primary Downstairs, Recessed Lighting, Separate Shower, Storage, Walk-In Closet(s)
Exterior features
Balcony, Lighting, Private Entrance
Appliances
Built-In Range, Dishwasher, Disposal, Microwave, Range, Refrigerator, Stainless Steel Appliance(s), Vented Exhaust Fan, Washer, Washer/Dryer
Subdivision
City Hike Townhomes
Middle school
Wake - Carnage Middle
High school
Wake - Needham Broughton High
Standard status
Active
APN
1703934988
Size
6,900 SF
Taxes and HOA fees
Tax Year
2026
Tax Description
LO7 CITY HIKE BM2023 -01578
Tax Annual Amount
5513
HOA Fee
$225 Monthly
Legal Description
LO7 CITY HIKE BM2023 -01578
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
2025
Floors in Building
3
Number of units
3
Flooring type
Wood, Carpet, Tile
Building materials
Vinyl Siding
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Compass -- Raleigh
(919) 726-6548
Listed By:
Johnny Chappell · License #267248
(919) 737-2247
Added: Oct 9
Last Checked: Oct 10 at 3:06AM
MLS# 10197555
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 Raleigh portfolio brings together three townhomes in a 12-home community. Each residence offers approximately 2,300 square feet, with four bedrooms, four full baths, an open layout, a kitchen with island, and a private garage. Rooftop terraces of approximately 400 square feet provide outdoor space and views of the Downtown Raleigh skyline. The homes feature contemporary design, selected finishes, and solar-ready construction; optional solar and energy-monitoring features are supported.
Two homes are leased, and the third is being leased up. The community is near Downtown Raleigh, with access to employment, dining, entertainment, cultural destinations, parks, and major commuter routes.
Two homes are leased, and the third is being leased up. The community is near Downtown Raleigh, with access to employment, dining, entertainment, cultural destinations, parks, and major commuter routes.
Key Highlights
- Three townhomes offered together in a 12‑home community
- Each home has approximately 2,300 square feet, four bedrooms, and four full baths
- Rooftop terraces of approximately 400 square feet with Downtown Raleigh skyline views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,257
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,405,140
$1.4M
Cap Rate 7%
$1,003,671
$1.0M
Cap Rate 9%
$780,633
$780.6K
Market Conditions
NOI Build-Up for 6,900 SF
Gross rent
$136.6K $19.80/SF
− Vacancy
−$8.9K −$1.29/SF
EGI
$127.7K $18.51/SF
− OpEx
−$57.5K −$8.33/SF
NOI
$70.3K $10.18/SF
Area
Raleigh, NC
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,405,140
Cap Rate 7%
$1,003,671
Cap Rate 9%
$780,633
Alternative Uses
Best Use
Apartment 5plus
$1.00M
$878.2K – $1.17M
NOI $70,257 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.90M
$1.66M – $2.21M
NOI $132,739 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,346
Businesses Nearby
Explore this area
Business Placement
Demographics for 27601, NC
9,965
Population
4,874
Households
2
Avg Household Size
32
Median Age
49%
College-Educated
88%
High-School Grad
1.8 sq mi
ZIP Area
5,536
Density / Sq Mi
$70,433
Median Household Income
$51,443
Median Earnings
$1,499
Median Rent
$572,600
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?
Multifamily property - Two residences are leased, while the third is in active lease-up.
Where is this multifamily property located?
The property is located at 616 Rocky Knob Court Raleigh, NC.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Three townhomes offered together in a 12‑home community; Each home has approximately 2,300 square feet, four bedrooms, and four full baths; Rooftop terraces of approximately 400 square feet with Downtown Raleigh skyline views
