Renovated Two-Unit
New
For Sale
$585,000
919 S State Street, Raleigh, NC 27601
Residential Income, Raleigh, NC
Property Size1,857 SF
Lot Size0.19 Acres
Price / SF$315.02
Days on Market3
Property Features for 919 S State Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-10
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Laundry Room, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 1
Parking
34
Parking features
Driveway, On Street
Window features
Blinds
Patio and Porch features
Porch
Interior features
Eat-in Kitchen, Granite Counters
Exterior features
Fenced Yard, Private Yard, Rain Gutters
Fencing
Fenced
Appliances
Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Stainless Steel Appliance(s), Washer
Subdivision
Not in a Subdivision
Lot features
Back Yard, Private
Elementary school
Wake - Hunter Elementary
Middle school
Wake - Ligon Middle
High school
Wake - William G Enloe High
Standard status
Active
APN
171313144720000 0001816
Size
1,857 SF
Lot size
0.19 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2026
Tax Description
Lo253 Watson Land Bm1885-00034
Tax Annual Amount
4113
Legal Description
Lo253 Watson Land Bm1885-00034
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1936
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Tile
Building materials
Vinyl Siding
Roof type
Shingle
Buildings
1
Listing Agency:
EXP Realty LLC
(888) 584-9431
Listed By:
Heather Dunn
(919) 219-1941
Added: Nov 4
Last Checked: Nov 6 at 11:06AM
MLS# 10201737
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.
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Investment Insights
Based on property information with market context.
This 1,857-square-foot duplex in Raleigh contains two residences, each arranged with two bedrooms and one bathroom. Both units have an eat-in kitchen with a bar dining area and a large laundry room. Renovations completed several years ago updated the property while retaining existing character. One side is occupied by a tenant, and the other is available for owner use or leasing. The lot measures 0.19 acres and is zoned R-10.
Parking is located behind the building, with a separately fenced yard for each residence. The property is near dining, retail, parks, and the beltline. Built in 1936, the duplex also features a porch, central air, and heat-pump heating.
Parking is located behind the building, with a separately fenced yard for each residence. The property is near dining, retail, parks, and the beltline. Built in 1936, the duplex also features a porch, central air, and heat-pump heating.
Key Highlights
- Two‑unit duplex with 1,857 square feet on a 0.19‑acre lot
- Each residence includes 2 bedrooms and 1 bathroom
- One unit is occupied by a tenant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,223
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$424,460
$424.5K
Cap Rate 7%
$303,186
$303.2K
Cap Rate 9%
$235,811
$235.8K
Market Conditions
NOI Build-Up for 1,857 SF
Gross rent
$32.3K $17.40/SF
− Vacancy
−$2.0K −$1.07/SF
EGI
$30.3K $16.33/SF
− OpEx
−$9.1K −$4.90/SF
NOI
$21.2K $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%
$424,460
Cap Rate 7%
$303,186
Cap Rate 9%
$235,811
Alternative Uses
Best Use
Multifamily LT 5
$303.2K
$265.3K – $353.7K
NOI $21,223 @ 7.0% cap · market cap 3.63%
Second Best
Apartment 5plus
$270.1K
$236.4K – $315.1K
NOI $18,908 @ 7.0% cap · market cap 3.23%
Theoretical Best
Specialty Retail
$510.3K
$446.6K – $595.4K
NOI $35,724 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
597
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
$572,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Raleigh, NC
Properties on Market for Duplexes in Raleigh
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms, a full bath, an eat-in kitchen, and a dedicated fenced yard.
Where is this duplex located?
The property is located at 919 S State Street Raleigh, NC.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,857 square feet on a 0.19‑acre lot; Each residence includes 2 bedrooms and 1 bathroom; One unit is occupied by a tenant
