509 Cape Ave Raleigh, NC 27601
Olde East Raleigh NeighborhoodEstimated payment $5,677/month
Highlights
- 0.29 Acre Lot
- No HOA
- Eat-In Kitchen
- Joyner Elementary School Rated A-
- Porch
- 4-minute walk to John Chavis Memorial Park
About This Home
Attention investors and builders! Two duplexes on two deeded lots in the heart of Downtown Raleigh facing the grounds of Chavis Park! Four beautifully updated units on large corner lot with plenty of parking on and off street with very little traffic. Individually metered for water and electric and long term tenants pay utilities (no gas). Two 1 bed/1bath and two 2 bed/1 bath. Unit 812 is furnished MTR. No HOA! This amazing location offers walkable downtown living while facing open park areas with walking trails and expansive green lawns! Easy access to 440/RDU, schools, hospitals and much more. One unit intentionally vacant for showings.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $4,809
Year Built
- Built in 1940
Lot Details
- 12,632 Sq Ft Lot
- Lot Dimensions are 123x101x123x101
- No Units Located Below
- No Unit Above or Below
- 1 Common Wall
Home Design
- Entry on the 1st floor
- Brick Veneer
- Block Foundation
- Shingle Roof
Interior Spaces
- 2,513 Sq Ft Home
- 1-Story Property
- Ceiling Fan
- Combination Kitchen and Dining Room
- Washer and Dryer
Kitchen
- Eat-In Kitchen
- Electric Oven
- Electric Range
- Dishwasher
Flooring
- Linoleum
- Tile
- Luxury Vinyl Tile
Bedrooms and Bathrooms
- 6 Bedrooms
- 4 Full Bathrooms
Parking
- 10 Parking Spaces
- Common or Shared Parking
- Gravel Driveway
- On-Street Parking
- 10 Open Parking Spaces
- Off-Street Parking
Outdoor Features
- Courtyard
- Porch
Schools
- Wake County Schools Elementary And Middle School
Utilities
- Ductless Heating Or Cooling System
- Multiple cooling system units
- Cooling System Mounted In Outer Wall Opening
- Heating Available
- Water Heater
Listing and Financial Details
- The owner pays for management, taxes
- Assessor Parcel Number 170352951327000 0017724
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 4 Units
Building Details
- 3 Leased Units
- 1 Vacant Unit
- Maintenance Expense $380
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| 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 | $4,809 | $636,478 | $348,000 | $288,478 |
| 2024 | $4,790 | $542,280 | $348,000 | $194,280 |
| 2023 | $4,250 | $382,530 | $201,250 | $181,280 |
| 2022 | $3,953 | $382,530 | $201,250 | $181,280 |
| 2021 | $3,802 | $382,530 | $201,250 | $181,280 |
| 2020 | $3,734 | $382,530 | $201,250 | $181,280 |
| 2019 | $2,855 | $239,446 | $160,000 | $79,446 |
| 2018 | $2,696 | $239,446 | $160,000 | $79,446 |
| 2017 | $2,571 | $239,446 | $160,000 | $79,446 |
| 2016 | $2,519 | $239,446 | $160,000 | $79,446 |
| 2015 | -- | $189,836 | $120,000 | $69,836 |
| 2014 | $1,944 | $189,836 | $120,000 | $69,836 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 04/03/2026 04/03/26 | For Sale | $975,000 | -- | $388 / 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 |
|---|---|---|---|
| Warranty Deed | $200,000 | None Available |
Source: Doorify MLS
MLS Number: 10157441
APN: 1703.52-95-1327-000
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Some IDX listings have been excluded from this IDX display. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use. Listings marked with an icon are provided courtesy of the Doorify MLS, Inc. of North Carolina, Internet Data Exchange Database. Closed (sold) listings may have been listed and/or sold by a real estate firm other than the firm(s) featured on this website. Closed data is not available until the sale of the property is recorded in the MLS. Home sale data is not an appraisal, CMA, competitive or comparative market analysis, or home valuation of any property. Copyright 2026 Doorify MLS, Inc. of North Carolina. All rights reserved.
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Ask me questions while you tour the home.