4204 Reavis Road

Listed By CompassNew Construction

Active

$4,950,000

32 beds40 baths13,600 sqft

4204 Reavis Rd, Raleigh, NC 27606

Est: $26,615/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

Listing Agents

Johnny Chappell
Listing Agent
Compass
P: (919) 909-0004
M: (919) 737-2247
Call Text
Maggie Sparling
Alternative Listing Agent
Compass
P: (919) 406-4442
M: (919) 406-4442
Call Text

36 days on Market

Last updated: 09/04/2026 10:40 AM • Source: Doorify MLS (fka Triangle MLS), MLS#: 10190772

Location

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$26,615 per month

30 year fixed, 7.03% Interest

Principal and Interest

$26,426

Property Taxes

$189

HOA Dues

The Payment Calculator is for illustrative purposes only.

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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

Date	Event & Source	Price	Appreciation
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	—
Mar 13, 2025	Pending Doorify MLS (fka Triangle MLS) #10082094		—
Mar 13, 2025	Listed (Active) Doorify MLS (fka Triangle MLS) #10082094	$800,000	—
Apr 3, 2024	Sold (Public Record) Public Record #1530101134	$445,000	—
Apr 3, 2024	Sold Doorify MLS (fka Triangle MLS) #2541313	$445,000	—
Feb 19, 2024	Pending Doorify MLS (fka Triangle MLS) #2541313		—
Nov 8, 2023	Listed (Active) Doorify MLS (fka Triangle MLS) #2541313	$495,000	—

Date	Event & Source	Price
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
03/13/2025	Pending Doorify MLS (fka Triangle MLS) #10082094	—
03/13/2025	Listed (Active) Doorify MLS (fka Triangle MLS) #10082094	$800,000
04/03/2024	Sold (Public Record) Public Record #1530101134	$445,000
04/03/2024	Sold Doorify MLS (fka Triangle MLS) #2541313	$445,000
02/19/2024	Pending Doorify MLS (fka Triangle MLS) #2541313	—
11/08/2023	Listed (Active) Doorify MLS (fka Triangle MLS) #2541313	$495,000

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

Public Records for 4204 Reavis Road

Taxable Value

Land

$250,000

Additions

$180,218

Total$430,218

Tax Record

2025

$3,772 ($314 / month)

Home Facts

Beds

Baths

Total Finished SqFt

1,092 SqFt

Above Grade Finished SqFt

1,092 SqFt

Stories

Lot Size

19,602 SqFt

Style

Single Family Residence

Year Built

1952

Year Renovated

1992

Zoning

R-10

County

WAKE

APN

0794.17-00-0987-000

Schools near 4204 Reavis Road

This home is within Wake County School District.


Rating	School	Type	Grades	Distance
9/10	Combs Elementary	Public - Serves this home	PK to 5	0.8 mi
2/10	Centennial Campus Middle	Public - Serves this home	6 to 8	1.9 mi
8/10	Athens Drive High	Public - Serves this home	9 to 12	1.4 mi
10/10	Wake Early College of Information & Biotechnologies	Public - Choice school	9 to 12	9.3 mi
NR	Longview School	Public - Choice school	6 to 12	4.8 mi
8/10	North Wake College And Career Academy	Public - Nearby school	9 to 13	15.8 mi
NR	Atlas International School	Private - Nearby school	PK to 10	0.2 mi
NR	An-Noor School	Private - Nearby school	3 to 8	0.4 mi
NR	Vital Link Private School	Private - Nearby school	K to 3	0.6 mi


Rating	School	Distance
9/10	Combs Elementary PublicPK to 5 Serves this home	0.8 mi
2/10	Centennial Campus Middle Public6 to 8 Serves this home	1.9 mi
8/10	Athens Drive High Public9 to 12 Serves this home	1.4 mi
10/10	Wake Early College of Information & Biotechnologies Public9 to 12 Choice school	9.3 mi
NR	Longview School Public6 to 12 Choice school	4.8 mi
8/10	North Wake College And Career Academy Public9 to 13 Nearby school	15.8 mi
NR	Atlas International School PrivatePK to 10 Nearby school	0.2 mi
NR	An-Noor School Private3 to 8 Nearby school	0.4 mi
NR	Vital Link Private School PrivateK to 3 Nearby school	0.6 mi

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.

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More information about 4204 Reavis Road, Raleigh, NC 27606

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 36 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.