New Construction
For Sale
$1,550,000
804 Cotton Pl, Raleigh, NC 27601
Two contemporary units provide four bedrooms, 3.5 bathrooms, flexible living areas, and modern kitchen appointments each.
Property Size4,054 SF
Price / SF$382.34
Days on Market42
Property Features for 804 Cotton Pl
General Information
Standard status
Active
Size
4,054 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2026
Listing Agency:
Monarch Realty Co.
(919) 606-2905
Listed By:
Jason Queen · License #265895
Source:
Tcrnc
Added: Jul 21
Changed: Aug 30
Last Checked: Aug 30 at 7:19PM
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 Monarch Realty Co.
Investment Insights
Based on property information with market context.
Scheduled for completion in Early Summer 2026, this duplex contains two contemporary residences totaling 4,054 square feet. Each unit offers over 2,000 square feet, four bedrooms, and 3.5 bathrooms, with open living areas, a dedicated office, and additional flexible rooms. Quartz countertops, stainless steel appliances, smart home features, contemporary fixtures, and design-forward bathrooms are planned throughout. Shared green space and skyline views add outdoor appeal.
The property is located at 804 Cotton Pl in Raleigh, minutes from Downtown Raleigh and near Transfer Co. Food Hall, Raleigh Wine Shop, and Roshambo. A planned City of Raleigh redevelopment nearby is expected to include retail, grocery, and community space. Photos are representative, and final selections may differ.
The property is located at 804 Cotton Pl in Raleigh, minutes from Downtown Raleigh and near Transfer Co. Food Hall, Raleigh Wine Shop, and Roshambo. A planned City of Raleigh redevelopment nearby is expected to include retail, grocery, and community space. Photos are representative, and final selections may differ.
Key Highlights
- Two‑unit duplex totaling 4,054 square feet
- Each unit offers over 2,000 square feet with 4 bedrooms and 3.5 bathrooms
- Scheduled for completion in Early Summer 2026
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
$46,331
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
2.99%
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%
$926,620
$926.6K
Cap Rate 7%
$661,871
$661.9K
Cap Rate 9%
$514,789
$514.8K
Market Conditions
NOI Build-Up for 4,054 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
$70.5K $17.40/SF
− Vacancy
−$4.4K −$1.07/SF
EGI
$66.2K $16.33/SF
− OpEx
−$19.9K −$4.90/SF
NOI
$46.3K $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 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%
$926,620
Cap Rate 7%
$661,871
Cap Rate 9%
$514,789
Alternative Uses
Best Use
Multifamily LT 5
$661.9K
$579.1K – $772.2K
NOI $46,331 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$589.7K
$516.0K – $688.0K
NOI $41,278 @ 7.0% cap · market cap 2.66%
Theoretical Best
Specialty Retail
$1.11M
$974.9K – $1.30M
NOI $77,989 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,734
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?
Duplex - Two contemporary units provide four bedrooms, 3.5 bathrooms, flexible living areas, and modern kitchen appointments each.
Where is this duplex located?
The property is located at 804 Cotton Pl Raleigh, NC.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 4,054 square feet; Each unit offers over 2,000 square feet with 4 bedrooms and 3.5 bathrooms; Scheduled for completion in Early Summer 2026
