Townhome-Style
For Sale
$425,000
617 Safran Court, Raleigh, NC 27606
One renovated residence is vacant, while the second is currently leased.
Property Size1,830 SF
Days on Market11
Property Features for 617 Safran Court
General Information
Standard status
Active
Size
1,830 SF
Property subtype
Duplex
Site & Location
Neighborhood
Indian Hills
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Building Details
Building Size
1,830 SF
Year Built
1982
Construction
townhome-style
Listing Agency:
Deaton Investment Real Estate
Listed By:
Thomas Furlow · License #222598
(919) 412-3913
Source:
Dustinbennett
Added: Oct 20
Changed: Oct 27
Last Checked: Oct 28 at 3:30PM
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 Deaton Investment Real Estate
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Investment Insights
Based on property information with market context.
This duplex in Raleigh has two matching townhome-style residences, each with 2 bedrooms, 1.5 bathrooms, and 915 square feet. Built in 1982, the property received new windows and HVAC systems in 2025. Unit A underwent a full interior renovation in September 2027, with updated cabinets, countertops, fixtures, vanities, and LVP flooring. Unit A is vacant; Unit B is leased. Tenants pay all utilities.
The property is walkable to Athens Drive High School and a short drive from NC State University and Raleigh/Cary employment centers.
The property is walkable to Athens Drive High School and a short drive from NC State University and Raleigh/Cary employment centers.
Key Highlights
- Two matching residences, each with 2 bedrooms, 1.5 bathrooms, and 915 square feet
- Townhome‑style duplex built in 1982
- New windows and HVAC systems installed in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,914
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$418,280
$418.3K
Cap Rate 7%
$298,771
$298.8K
Cap Rate 9%
$232,378
$232.4K
Market Conditions
NOI Build-Up for 1,830 SF
Gross rent
$31.8K $17.40/SF
− Vacancy
−$2.0K −$1.07/SF
EGI
$29.9K $16.33/SF
− OpEx
−$9.0K −$4.90/SF
NOI
$20.9K $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%
$418,280
Cap Rate 7%
$298,771
Cap Rate 9%
$232,378
Alternative Uses
Best Use
Multifamily LT 5
$298.8K
$261.4K – $348.6K
NOI $20,914 @ 7.0% cap · market cap 4.92%
Second Best
Apartment 5plus
$266.2K
$232.9K – $310.6K
NOI $18,633 @ 7.0% cap · market cap 4.38%
Theoretical Best
Specialty Retail
$502.9K
$440.1K – $586.8K
NOI $35,205 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - One renovated residence is vacant, while the second is currently leased.
Where is this duplex located?
The property is located at 617 Safran Court Raleigh, NC.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two matching residences, each with 2 bedrooms, 1.5 bathrooms, and 915 square feet; Townhome‑style duplex built in 1982; New windows and HVAC systems installed in 2025
