Brick Quadplex with
For Sale
$700,000
626 Maple Lane, Raleigh, NC 27603
MULTI_FAMILY - Raleigh, NC
Property Size3,408 SF
Lot Size1.24 Acres
Price / SF$205.40
Days on Market258
Property Features for 626 Maple Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bedroom 3, Bedroom 5, Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 8, Bedroom 7, Bathroom 1, Bathroom 4
Parking features
Carport
Appliances
Electric Range, Refrigerator
Subdivision
Echo Heights
Standard status
Active
APN
1701412860
Size
3,408 SF
Lot size
1.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4664
Utilities
Sewer type
Septic Tank
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Well
Building Details
Year built
1964
Floors in Building
1
Number of units
4
Flooring type
Wood, Vinyl, Hardwood
Building materials
Brick
Roof type
Shingle
Listing Agency:
FAB Real Estate Services, LLC
(919) 262-6828
Listed By:
Laura Thompson Vevurka · License #324056
(919) 279-5912
Added: Dec 5, 2025
Changed: Aug 10
Last Checked: Aug 20 at 8:06PM
MLS# 10136092
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.
Brick quadplex comprising two adjoined duplexes and totaling four units, with occupied units on month-to-month leases. The property is described as an 8-bedroom, 4-bath layout and includes central air cooling with heat pump heating. Interior finishes listed include wood, hardwood, and vinyl flooring. Appliances include an electric range and refrigerator.
The quadplex sits on 1.24 acres and is identified as having 3,408 square feet of property size. Constructed in 1964 with brick construction and a shingle roof. Parking is provided via a carport. Water service is listed as well, with sewer provided by a septic tank.
The listing also notes there is no HOA or restrictive covenants.
The quadplex sits on 1.24 acres and is identified as having 3,408 square feet of property size. Constructed in 1964 with brick construction and a shingle roof. Parking is provided via a carport. Water service is listed as well, with sewer provided by a septic tank.
The listing also notes there is no HOA or restrictive covenants.
Key Highlights
- Two adjoined duplexes totaling four occupied units
- All four units on month‑to‑month leases
- 1.24‑acre quadplex property
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?
Quadplex - Occupied four-unit property with month-to-month leases in a brick quadplex with central air and a carport.
Where is this quadplex 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 adjoined duplexes totaling four occupied units; All four units on month‑to‑month leases; 1.24‑acre quadplex property
