Four-Unit Duplex
For Sale
$700,000
626 Maple Lane, Raleigh, NC 27603
Occupied residences are leased month to month, with no HOA or restrictive covenants affecting the property.
Property Size3,408 SF
Lot Size1.24 Acres
Days on Market258
Property Features for 626 Maple Lane
General Information
Standard status
Active
Size
3,408 SF
Lot size
1.24 Acres
Property subtype
Duplex
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,663
Building Details
Building Size
3,408 SF
Year Built
1964
Buildings
2
Listing Agency:
FAB Real Estate Services, LLC
(919) 279-5912
Listed By:
Laura Thompson Vevurka · License #324056
(919) 279-5912
Source:
Dustinbennett
Added: Dec 5, 2025
Changed: Aug 13
Last Checked: Aug 20 at 11:49AM
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 FAB Real Estate Services, LLC
Investment Insights
Based on property information with market context.
This residential income property consists of two adjoining duplex buildings containing four total units. The configuration includes 8 bedrooms and 4 bathrooms across the property, which was built in 1964. All units are occupied and currently operate under month-to-month leases.
The property encompasses 1.24 acres and is located at 626 Maple Lane in Raleigh, North Carolina. No HOA or restrictive covenants are associated with the property, providing a straightforward ownership structure for the next investor.
The property encompasses 1.24 acres and is located at 626 Maple Lane in Raleigh, North Carolina. No HOA or restrictive covenants are associated with the property, providing a straightforward ownership structure for the next investor.
Key Highlights
- Two adjoining duplexes provide 4 total units
- Property includes 8 bedrooms and 4 bathrooms
- All 4 units are occupied and leased month to month
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
$36,637
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
5.23%
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%
$732,740
$732.7K
Cap Rate 7%
$523,386
$523.4K
Cap Rate 9%
$407,078
$407.1K
Market Conditions
NOI Build-Up for 3,408 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
$55.2K $16.20/SF
− Vacancy
−$2.9K −$0.84/SF
EGI
$52.3K $15.36/SF
− OpEx
−$15.7K −$4.61/SF
NOI
$36.6K $10.75/SF
Area
ZIP 27603
Vacancy
5.20%
Lease Rate
$16.20 /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%
$732,740
Cap Rate 7%
$523,386
Cap Rate 9%
$407,078
Alternative Uses
Best Use
Multifamily LT 5
$523.4K
$458.0K – $610.6K
NOI $36,637 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$454.0K
$397.3K – $529.7K
NOI $31,782 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$1.08M
$943.3K – $1.26M
NOI $75,460 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 27603, NC
54,616
Population
24,030
Households
2.3
Avg Household Size
34
Median Age
48%
College-Educated
94%
High-School Grad
51.4 sq mi
ZIP Area
1,063
Density / Sq Mi
$87,939
Median Household Income
$51,856
Median Earnings
$1,496
Median Rent
$347,000
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?
Duplex - Occupied residences are leased month to month, with no HOA or restrictive covenants affecting the property.
Where is this duplex located?
The property is located at 626 Maple Lane 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: Two adjoining duplexes provide 4 total units; Property includes 8 bedrooms and 4 bathrooms; All 4 units are occupied and leased month to month
