Active
32 beds13,600 sqft
4204 Reavis Rd, Raleigh, NC 27606
Est: $25,769/moGet pre-approved
Multi FamilyProperty Type
2026Year Built
$364/sq ftPrice per sq ft
32 carsParking Spaces

Description

Newly constructed student housing investment opportunity adjacent to NC State. Eight@State consists of eight purpose-built 4-bedroom, 4.5-bath townhomes (32 beds total) designed for strong student rental demand, with private bathrooms for every bedroom, attached garages, modern finishes, stainless steel appliances, in-unit washer/dryer, and low-maintenance construction. The property is already 50% leased for the 2026-2027 academic year, including three student leases and one developer-leased model...Newly constructed student housing investment opportunity adjacent to NC State. Eight@State consists of eight purpose-built 4-bedroom, 4.5-bath townhomes (32 beds total) designed for strong student rental demand, with private bathrooms for every bedroom, attached garages, modern finishes, stainless steel appliances, in-unit washer/dryer, and low-maintenance construction. The property is already 50% leased for the 2026-2027 academic year, including three student leases and one developer-leased model home, providing immediate leasing momentum while allowing investors to complete lease-up ahead of the school year. Offered at $4,950,000, the asset is projected to achieve a 6.0% cap rate based on current market rental expectations of approximately $950 per bedroom per month. Located just minutes from NC State University with convenient access to Downtown Raleigh, I-440, shopping, dining, and public transit, Eight@State offers investors the opportunity to acquire a newly delivered, institutional-quality student housing asset with minimal deferred maintenance and significant long-term rental demand.34
15 days on Market
Last updated: 09/04/2026 10:40 AM • Source: Doorify MLS (fka Triangle MLS), MLS#: 10190772

Location

Listing Courtesy of: .

Add your commute

Payment Calculator

$25,769 per month

30 year fixed, 6.71% Interest

Principal and Interest

$25,579

Property Taxes

$189

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Know your buying power with a preapproval and custom rate in minutes

Rocket Mortgage1

Property Information for 4204 Reavis Road

Property Details
  • Taxes: $2,273 / year
  • MLS Type: Residential Income / Apartment
  • Lot Size: 0.00 AC / 0 SF
  • County: Wake County
  • Zoning Description: R-10
  • Subdivision: To Be Added
Building Information
  • Stories: 3
  • Residences: 8
  • Year Built: 2026
  • Lot Size: 0.00 AC / 0 SF
Summary
Location and General Information
  • Zoning: R-10
  • Subdivision Name: To Be Added
  • Latitude: 35.785563
  • Longitude: -78.696286
Taxes and HOA Information
  • Association: No
  • Tax Annual Amount: $2,272.75
  • City Limits Of: Raleigh
  • Has City Limits: Yes
  • Lot Number: 1-8
  • Has Restrictive Covenants: Yes
Contract Information
  • Has Comp Sale: No
  • Estimated Completion Date: 2026-06-01
  • Lease Expiration Date: 2027-07-25
  • Original MLS: Triangle MLS Inc
  • Has Property Leased: Yes
Parking
  • Open Parking: No
  • Other Parking: yes
  • Parking Features: Garage, Garage Door Opener, Lighted, Off Street, On Site, Paved, Private, Secured
  • Attached Garage: Yes
  • Garage Spaces: 20.0
  • Garage: Yes
Property
Lot Information
  • Building Area Total: 13600.0
  • Building Features: Cable TV, High Speed Internet
  • Parcel Number: 079417000987000 0014709
  • Structure Type: Site Built
Property and Assessments
  • New Construction: Yes
  • Community Features: Curbs, Street Lights, Sidewalks
  • Year Built Effective: 2026
  • Property Condition: New Construction
Utilities
  • Sewer: Public Sewer
  • Water Source: Public
Green Features
  • Green Energy Efficient: Insulation, Thermostat
Interior and Exterior Features
Exterior Features
  • Construction Materials: Fiber Cement, Lap Siding
  • Exterior Features: Awning(s), Lighting, Private Entrance, Rain Gutters
  • Foundation Details: Slab
  • Roof: Shingle
  • Security Features: Smoke Detector(s)
  • New Construction Type: Site Built, Fiber Cement, Lap Siding
Interior Features
  • Levels: Tri-Level
  • Stories: 3
  • Flooring: Luxury Vinyl
  • Cooling: Central Air
  • Has Cooling: Yes
  • Heating: Heat Pump
  • Has Heating: Yes
  • Appliances: Dryer, Disposal, Dishwasher, Free-Standing Electric Range, Freezer, Microwave, Range, Refrigerator, Stainless Steel Appliance(s), Washer, Washer/Dryer, Washer/Dryer Stacked, Water Heater
  • Laundry Features: Inside, In Unit
  • Interior Features: Ceiling Fan(s), Eat-in Kitchen, High Ceilings, High Speed Internet, Kitchen Island, Open Floorplan, Primary Downstairs, Recessed Lighting, Kitchen/Dining Room Combination, Living/Dining Room Combination, Apartment/Suite, Bathtub/Shower Combination
Multi Family
Multi Family Information
  • Number Of Units Leased: 4
  • Total Units: 8
Unit Information
Unit 1
  • Baths Total: 4.0
  • Actual Rent: $4,000.00
  • Beds Total: 4.0
  • Type: 4 Bedroom Or More
  • Levels: Three Or More
  • Garage Spaces: 3
  • Has Garage Attached: Yes
  • Features: Dining Room, Dishwasher, Disposal, Kitchen, Living Room, Patio, Range, Refrigerator, Washer/Dryer Hookups
Unit 2
  • Baths Total: 4.0
  • Actual Rent: $4,000.00
  • Beds Total: 4.0
  • Levels: Three Or More
  • Garage Spaces: 3
  • Has Garage Attached: Yes
  • Features: Dining Room, Dishwasher, Disposal, Kitchen, Living Room, Patio, Range, Refrigerator, Washer/Dryer Hookups
Unit 3
  • Baths Total: 4.0
  • Actual Rent: $3,650.00
  • Beds Total: 4.0
  • Levels: Three Or More
  • Garage Spaces: 3
  • Has Garage Attached: Yes
  • Features: Dining Room, Dishwasher, Disposal, Kitchen, Living Room, Patio, Range, Refrigerator, Washer/Dryer Hookups
Unit 4
  • Baths Total: 4.0
  • Actual Rent: $4,000.00
  • Beds Total: 4.0
  • Garage Spaces: 3
  • Has Garage Attached: Yes
  • Features: Dining Room, Dishwasher, Disposal, Kitchen, Living Room, Patio, Range, Refrigerator, Washer/Dryer Hookups
Rental
Rental Information
  • Lease Term: 12 Months
  • TenantPays: All Utilities

Property History for 4204 Reavis Road

DateEvent & SourcePriceAppreciation
Sep 4, 2026

Listed (Active)

Doorify MLS (fka Triangle MLS) #10190772

$4,950,000
Apr 29, 2025

Sold (Public Record)

Public Record #1557488677

$800,000

+73.0% / yr

Apr 29, 2025

Sold

Doorify MLS (fka Triangle MLS) #10082094

$800,000
DateEvent & SourcePrice
09/04/2026

Listed (Active)

Doorify MLS (fka Triangle MLS) #10190772

$4,950,000
04/29/2025

Sold (Public Record)

Public Record #1557488677

$800,000

+73.0% / yr

04/29/2025

Sold

Doorify MLS (fka Triangle MLS) #10082094

$800,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 4204 Reavis Road

Taxable ValueLand$250,000Additions$180,218Total$430,218
Tax Record2025$3,772 ($314 / month)
Home Facts
Beds0Baths2Total Finished SqFt1,092 SqFtAbove Grade Finished SqFt1,092 SqFtStories1Lot Size19,602 SqFtStyleSingle Family ResidenceYear Built1952Year Renovated1992ZoningR-10CountyWAKEAPN0794.17-00-0987-000

Schools near 4204 Reavis Road

This home is within Wake County School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Combs Elementary
PublicPK to 5

Centennial Campus Middle
Public6 to 8

Athens Drive High
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

New listings in 27606

$1,636,000 | 5033 Theys Road, Raleigh, NC 27606
1/23
New

$1,636,000

5
Bedrooms
4,500
Square Feet
2
Acres
$260,000 | 6001 Winterpointe Lane, Unit 101, Raleigh, NC 27606
1/34

$260,000

3
Bedrooms
1,646
Square Feet
$415,000 | 5455 Crescentview Parkway, Unit 5455, Raleigh, NC 27606
1/16

$415,000

4
Bedrooms
2,080
Square Feet
0.04
Acres
$525,000 | 2420 Silver Lake Trail, Raleigh, NC 27606
1/44

$525,000

3
Bedrooms
1,983
Square Feet
0.18
Acres
$380,000 | 2543 Asher View Court, Raleigh, NC 27606
1/25

$380,000

3
Bedrooms
1,762
Square Feet
0.05
Acres
$950,000 | 3917 Devan Oaks Way, Raleigh, NC 27606
1/52

$950,000

4
Bedrooms
3,346
Square Feet
0.7
Acres
$195,000 | 145 Jones Franklin Road, Unit D, Raleigh, NC 27606
1/23

$195,000

3
Bedrooms
1,160
Square Feet
$319,900 | 5508 Cottonrose Lane, Raleigh, NC 27606
1/49
Listed By CompassVirtual Tour

$319,900

2
Bedrooms
1,463
Square Feet
0.05
Acres
$430,190 | 707 Orch Vista Circle, Raleigh, NC 27606
1/36
New Construction

$430,190

4
Bedrooms
1,887
Square Feet
0.03
Acres

4204 Reavis Road is a multi-family home for sale in Raleigh, NC 27606. This property was listed for sale on September 4, 2026 by Compass, it's currently listed at $4,950,000. It has been on the market for a total of 15 days and was last sold on April 29, 2025. This listing's school district is Wake County School District. Nearby schools include Combs Elementary, Centennial Campus Middle and Athens Drive High. 4204 Reavis Road is a 32-bed, 40-bath, 13,600 sqft multi-family home built in 2026.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listings marked with a Doorify MLS icon are provided courtesy of the Doorify MLS, of North Carolina, Internet Data Exchange Database. 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. Copyright 2024 Doorify MLS of North Carolina. All rights reserved.