128 Rainbow Ct Cary, NC 27511
South Cary NeighborhoodEstimated payment $3,830/month
Highlights
- Very Popular Property
- No HOA
- Central Heating and Cooling System
- 0.39 Acre Lot
- Luxury Vinyl Tile Flooring
- Wood Siding
About This Home
Exceptional investment opportunity in the heart of Cary. 128 & 130 Rainbow Court offers a well-maintained duplex just minutes from Downtown Cary, providing investors with immediate cash flow and long-term upside in one of the Triangle's most sought-after locations. Both units are currently leased, with leases in place through March 2027 and June 2027, creating stable, predictable income from day one. The property features two spacious residences with private entrances, dedicated parking, and strong rental appeal driven by the area's continued growth and demand. Located less than two miles from Downtown Cary Park, residents enjoy easy access to award-winning restaurants, local breweries, shopping, entertainment, and community events. The property is also conveniently located near Fenton, WakeMed Soccer Park, major employment centers, and commuter routes including US-1, I-40, and NC-540. Whether you're looking to expand your portfolio with a turnkey asset or secure a long-term hold in a premier Cary location, 128 & 130 Rainbow Court presents a rare opportunity to acquire an income-producing property with established tenants and excellent proximity to everything Cary has to offer.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,251
Year Built
- Built in 1973
Lot Details
- 16,988 Sq Ft Lot
- 1 Common Wall
Home Design
- Brick Exterior Construction
- Shingle Roof
- Wood Siding
Interior Spaces
- 2,624 Sq Ft Home
- 2-Story Property
Flooring
- Carpet
- Linoleum
- Luxury Vinyl Tile
Bedrooms and Bathrooms
- 5 Bedrooms
Parking
- On-Site Parking
- 4 Open Parking Spaces
Schools
- Cary Elementary School
- East Cary Middle School
- Cary High School
Utilities
- Central Heating and Cooling System
Community Details
- No Home Owners Association
- 2 Units
- Rainbow Estates Subdivision
Listing and Financial Details
- The owner pays for repairs
- Assessor Parcel Number 0764814829
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $5,251 | $607,941 | $350,000 | $257,941 |
| 2024 | $5,138 | $607,941 | $350,000 | $257,941 |
| 2023 | $2,412 | $236,708 | $75,000 | $161,708 |
| 2022 | $2,323 | $236,708 | $75,000 | $161,708 |
| 2021 | $2,277 | $236,708 | $75,000 | $161,708 |
| 2020 | $2,289 | $236,708 | $75,000 | $161,708 |
| 2019 | $1,877 | $171,571 | $50,000 | $121,571 |
| 2018 | $1,763 | $171,571 | $50,000 | $121,571 |
| 2017 | $1,696 | $171,571 | $50,000 | $121,571 |
| 2016 | $1,671 | $171,571 | $50,000 | $121,571 |
| 2015 | $1,754 | $174,123 | $38,000 | $136,123 |
| 2014 | $1,656 | $174,123 | $38,000 | $136,123 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/21/2026 07/21/26 | Pending | -- | -- | -- |
| 07/02/2026 07/02/26 | For Sale | $622,500 | -- | $237 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $82,000 | -- |
Source: Doorify MLS
MLS Number: 10177740
APN: 0764.20-81-4829-000
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