5124 Melbourne Road
Raleigh, NC 27606
- 5 beds
- 2 baths
- 2,417 sqft
- 13,503 sqft lot
- $262 per sqft
- 1958 build
- – on site
Incredible investment opportunity in desirable Cardinal Hills/NC State area. Cash flowing, stabilized property with leases in place through 6/30/2026. This thoughtfully updated 5 bedroom, 2 bathroom home is located on a large, fenced 0.31 acre lot. Master lease in effect - Not individual. 7/1/24 - 6/30/25 Lease at $5,000/month. 7/1/25 - 6/30/26 Lease at $5,000/month. Extremely turnkey property with designer finishes and sleek new appliances. Improvements in 2023 include: New roof, updated kitchen, 2 full bathroom renovations, premium crawlspace encapsulation, Rheem tankless hot water heater, refinished hardwoods, and new concrete driveway. 3 bedrooms are located on the main level with 2 additional bedrooms located on the second floor. Two separate front entrances, interior spiral staircase, and second floor loft provide tenants with maximum living flexibility and privacy. Close proximity to NC State and 440. Appliances and Washer/Dryer convey. This investment property is As-Is and ready to go! Buyers & Buyers Agents, please reach out to Listing Agent for all property disclosures and full list of upgrades.
Last checked:
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Last updated Dec 28, 2024
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MLS# 10068373 —
The Building
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Year Built:1958
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New Construction:false
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Construction Materials:Brick
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Architectural Style:Cape Cod
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Structure Type:House
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Roof:Shingle
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Stories:2
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Levels:Multi/Split
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Basement:false
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Foundation Details:Brick/Mortar
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Building Features:Shared Utilities
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Patio And Porch Features:Covered
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Building Area Total:2417
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Building Area Units:Square Feet
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# of Units Total:1
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Above Grade Finished Area:2417
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Above Grade Finished Area Units:Square Feet
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Below Grade Finished Area Units:Square Feet
Interior
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Interior Features:Bookcases
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Flooring:Hardwood
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Fireplace:true
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Fireplaces Total:1
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Fireplace Features:Family Room
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Laundry Features:Main Level
Room Dimensions
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Living Area:2417
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Living Area Units:Square Feet
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Living Area Source:Appraiser
Financial & Terms
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Lease Term:12 Months
Location
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Directions:Exit 1D off of 440, house on the right.
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Latitude:35.777878
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Longitude:-78.712205
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Coordinates:-78.712205, 35.777878
The Property
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Parcel Number:0783583167
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Property Subtype:Single Family Residence
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Property Type:Residential Income
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Lot Features:Back Yard
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Lot Size Acres:0.31
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Lot Size Area:13503.6
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Lot Size SqFt:13503.6
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Lot Size Units:Square Feet
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Zoning:R-4
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View:true
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Exterior Features:Rain Gutters
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Fencing:None
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Waterfront:false
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Road Frontage Type:City Street
Listing Agent
- Contact info:
- Agent phone:
- (919) 356-6881
- Office phone:
- (919) 356-6881
Taxes
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Tax Annual Amount:3439.24
Beds
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Bedrooms Total:5
Baths
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Total Baths:2
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Total Baths:2
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Total Baths:2
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Full Baths:2
The Listing
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Special Listing Conditions:Standard
Heating & Cooling
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Heating:Baseboard
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Heating:true
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Cooling:Ceiling Fan(s)
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Cooling:true
Utilities
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Utilities:Electricity Connected
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Sewer:Public Sewer
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Water Source:Public
Appliances
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Appliances:Dishwasher
Schools
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Elementary School:Wake - Adams
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Middle Or Junior School:Wake - Lufkin Road
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High School:Wake - Athens Dr
The Community
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Subdivision Name:Cardinal Hills
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Senior Community:false
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Spa:false
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Pool Private:false
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Association Amenities:None
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Association:false
Parking
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Attached Garage:false
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Parking Features:Concrete
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Open Parking:true
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Open Parking Spaces:4
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
12/27/24
Dec 27, 2024
|
Listed / Active | DMLS | $635,000 | 64.9% (37.2% / YR) |
|
3/31/23
Mar 31, 2023
|
DMLS | $385,000 | 6.9% | |
|
3/6/23
Mar 6, 2023
|
DMLS | $360,000 |
