Townhouse Duo with Private Fenced
For Sale
$245,000
8031 Perry Creek Road, Raleigh, NC 27616
MULTI_FAMILY - Raleigh, NC
Property Size1,428 SF
Lot Size0.10 Acres
Price / SF$171.57
Days on Market19
Property Features for 8031 Perry Creek Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 2, Bathroom 1, Bathroom 2, Dining Room, Bedroom 1, Bedroom 3, Bathroom 3
Parking
2
Patio and Porch features
Deck, Porch
Interior features
Bathtub/Shower Combination, Eat-in Kitchen, Living/Dining Room Combination, Pantry, Storage, Walk-In Closet(s)
Exterior features
Fenced Yard, Private Entrance, Private Yard, Rain Gutters, Storage
Fencing
Chain Link, Fenced
Fireplace
1
Appliances
Dishwasher, Electric Range, Electric Water Heater, Refrigerator
Subdivision
Berkshire Downs
Lot features
Back Yard, City Lot, Front Yard
Elementary school
Wake County Schools
Middle school
Wake County Schools
High school
Wake County Schools
Standard status
Active
APN
0532803 1737271489
Size
1,428 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2248
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1986
Floors in Building
2
Number of units
1
Flooring type
Laminate
Building materials
Masonite
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Bliss & Oak Realty And Propert
(919) 369-1540
Listed By:
Tanya Lynn Laton · License #326349
(919) 369-1540
Added: Jul 28
Changed: Aug 11
Last Checked: Aug 15 at 1:06PM
MLS# 10183129
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.
Townhouse duo featuring a private fenced yard and separate private entrances. The listing includes Unit 8031, a three-bedroom, two-and-a-half-bath townhome with a spacious layout with all bedrooms upstairs and a Jack-and-Jill bath between the second and third bedrooms. Interior features include an eat-in kitchen, pantry, storage, living/dining room combination, and walk-in closet(s), plus a fireplace. Appliances include a dishwasher, electric range, electric water heater, and refrigerator. Exterior amenities include a porch and deck, rain gutters, and fenced storage.
Unit 8031 has updates including a new shingle roof in 2024, updated LVP flooring and carpet throughout in 2025, and a rebuilt chimney in 2026. Built in 1986 with Masonite construction, the homes are served by public water and public sewer, with electricity available.
Located in North Raleigh near Wake Tech Community College, local shopping, WRAL Soccer Park, and the bus line. The second attached unit (8031 Perry Creek) is also for sale, and both townhomes are fully occupied. Fencing includes chain link and fenced areas.
Unit 8031 has updates including a new shingle roof in 2024, updated LVP flooring and carpet throughout in 2025, and a rebuilt chimney in 2026. Built in 1986 with Masonite construction, the homes are served by public water and public sewer, with electricity available.
Located in North Raleigh near Wake Tech Community College, local shopping, WRAL Soccer Park, and the bus line. The second attached unit (8031 Perry Creek) is also for sale, and both townhomes are fully occupied. Fencing includes chain link and fenced areas.
Key Highlights
- Fully occupied townhouse duo with separate private entrances
- Unit 8031: three bedrooms, two‑and‑a‑half baths; bedrooms upstairs and Jack‑and‑Jill bath
- New shingle roof in 2024; updated LVP flooring and carpet in 2025
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
$14,618
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
5.97%
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%
$292,360
$292.4K
Cap Rate 7%
$208,829
$208.8K
Cap Rate 9%
$162,422
$162.4K
Market Conditions
NOI Build-Up for 1,428 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
$28.3K $19.80/SF
− Vacancy
−$1.7K −$1.19/SF
EGI
$26.6K $18.61/SF
− OpEx
−$12.0K −$8.38/SF
NOI
$14.6K $10.24/SF
Area
ZIP 27616
Vacancy
6.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$292,360
Cap Rate 7%
$208,829
Cap Rate 9%
$162,422
Alternative Uses
Best Use
Apartment 5plus
$208.8K
$182.7K – $243.6K
NOI $14,618 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$407.7K
$356.8K – $475.7K
NOI $28,541 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
Explore this area
Business Placement
Demographics for 27616, NC
56,941
Population
24,282
Households
2.3
Avg Household Size
34
Median Age
43%
College-Educated
91%
High-School Grad
22.5 sq mi
ZIP Area
2,531
Density / Sq Mi
$81,534
Median Household Income
$41,601
Median Earnings
$1,514
Median Rent
$314,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Fully occupied townhouse duo on a private fenced yard with no HOA or yearly assessment fees.
Where is this single family property located?
The property is located at 8031 Perry Creek Road Raleigh, NC.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Fully occupied townhouse duo with separate private entrances; Unit 8031: three bedrooms, two‑and‑a‑half baths; bedrooms upstairs and Jack‑and‑Jill bath; New shingle roof in 2024; updated LVP flooring and carpet in 2025
