509 Cape Ave

Raleigh, NC 27601

$975,000
Price
6
Beds
2,513 Sq. Ft.
$388 / Sq. Ft.
2,513
Sq. Ft.
$388
per Sq. Ft.
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Description

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...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.
  1. Listed by Natalee Choby • Rich Realty Group

Property Details for 509 Cape Avenue

View
Downtown, Park/Greenbelt, Skyline, Trees/Woods
View
Yes
Subdivision
Not in a Subdivision
LISTING UPDATED: 04/03/2026 04:50 PM

Property Details for 509 Cape Avenue

StatusActive
MLS #10157441
Days on Market1
Taxes$4,809 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Quadruplex
Year Built1940
Lot Size0.29 AC / 12,632 SF
CountyWake County
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Location

Listing Courtesy of Rich Realty Group
Add your commute

Building Information for 509 Cape Avenue

Stories1Residences4Year Built1940Building Size-Lot Size0.29 AC / 12,632 SF

Payment Calculator

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$5,310 per month

30 year fixed, 6.46% Interest

Principal and Interest

$4,910

Property Taxes

$401

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 509 Cape Avenue

Summary
Location and General Information
  • Zoning: R-10
  • Directions: From East St. take Cape east towards Chavis Park. Property faces the Park.
  • Subdivision Name: Not in a Subdivision
  • Latitude: 35.76994
  • Longitude: -78.632094
  • Road Frontage Type: City Street
Taxes and HOA Information
  • Association: No
  • Tax Annual Amount: $4,809.22
  • City Limits Of: Raleigh
  • City Limits YN: Yes
  • Lot Number: 46-47
  • Restrictive Covenants YN: Yes
Contract Information
  • Comp Sale YN: No
  • Lease Expiration Date: 2026-08-31
  • Original MLS: Triangle MLS Inc
  • Property Leased YN: Yes
School Information
  • Elementary School: Wake County Schools
  • Middle Or Junior School: Wake County Schools
  • High School 2: Wake County Schools
Parking
  • Open Parking: Yes
  • Parking Features: Common, Concrete, Gravel, Off Street, On Site, On Street
  • Attached Garage: No
Property
Lot Information
  • Building Area Total: 2513.0
  • Lot Features: Cleared, Corner Lot, Near Public Transit, Views, See Remarks
  • Lot Size Dimensions: 123 x 101 x 123 x 101
  • Total Other Area Sq Ft: 0
  • Number Of Buildings: 2
  • Parcel Number: 170352951327000 0017724
  • Structure Type: Duplex, Multi Family
Property and Assessments
  • New Construction: No
  • Photos Count: 46
  • Above Grade Finished Area Source: Public Records
  • Below Grade Finished Area: 0.0
  • Below Grade Finished Area Units: Square Feet
  • Common Walls: 1 Common Wall, No One Above, No One Below
  • Senior Community: No
  • Property Condition: Updated/Remodeled
Utilities
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Sewer Connected, Water Connected
  • Water Source: Public
  • Water_Sewer: Public, Public Sewer, Electricity Connected, Sewer Connected, Water Connected
Interior and Exterior Features
Exterior Features
  • Construction Materials: Block, Brick Veneer
  • Exterior Features: Courtyard
  • Foundation Details: Block
  • Patio And Porch Features: Porch
  • Pool Private: No
  • Roof: Shingle
  • New Construction Type: Block, Brick Veneer, Duplex, Multi Family
Interior Features
  • Levels: One
  • Stories: 1
  • Fireplace Y N: No
  • Flooring: Linoleum, Vinyl, Tile
  • Cooling: Ductless, Electric, Multi Units, Wall Unit(s)
  • Cooling?: Yes
  • Heating: Ductless, Electric
  • Heating?: Yes
  • Appliances: Dishwasher, Dryer, Electric Oven, Electric Range, Oven, Refrigerator, Washer/Dryer, Water Heater
  • Laundry Features: In Hall, See Remarks
  • Interior Features: Ceiling Fan(s), Eat-in Kitchen, Kitchen/Dining Room Combination
  • Spa: No
  • Equipment Appliances: Dishwasher, Dryer, Electric Oven, Electric Range, Oven, Refrigerator, Washer/Dryer, Water Heater
  • Interior: Electricity Connected, Sewer Connected, Water Connected, Common, Concrete, Gravel, Off Street, On Site, On Street, Block, Brick Veneer, In Hall, See Remarks
  • Equipment: Dishwasher, Dryer, Electric Oven, Electric Range, Oven, Refrigerator, Washer/Dryer, Water Heater, In Hall, See Remarks, Common, Concrete, Gravel, Off Street, On Site, On Street
Multi Family
Unit Information
  • Total Units: 4
Agent
Sale and Listing
  • Property Type: Residential Income
  • Property Class Name: CrossProperty
Rental
Rental Information
  • Lease Term: 12 Months
  • TenantPays: All Utilities, See Remarks
Units Information
Unit One
  • Unit One: Actual Rent: 2000.0
  • Unit One: Baths Total: 1.0
  • Unit One: Dishwasher: true
  • Unit One: Kitchen: true
  • Unit One: Living Area: 720.0
  • Unit One: Living Room: true
  • Unit One: Porch: true
  • Unit One: Unit Type Description: Duplex/End Unit-STR
  • Unit One: Unit Type Total Rent: 2000.0
  • Unit One: Unit Type: 2 Bedroom
Unit Two
  • Unit Two: Actual Rent: 1600.0
  • Unit Two: Baths Total: 1.0
  • Unit Two: Beds Total: 2.0
  • Unit Two: Kitchen: true
  • Unit Two: Levels: One
  • Unit Two: Living Area: 720.0
  • Unit Two: Living Room: true
  • Unit Two: Porch: true
  • Unit Two: Refrigerator: true
  • Unit Two: Unit Type Description: Duplex End Unit
  • Unit Two: Unit Type: 2 Bedroom
Unit Three
  • Unit Three: Actual Rent: 1095.0
  • Unit Three: Baths Total: 1.0
  • Unit Three: Beds Total: 1.0
  • Unit Three: Kitchen: true
  • Unit Three: Living Area: 536.0
  • Unit Three: Living Room: true
  • Unit Three: Porch: true
  • Unit Three: Refrigerator: true
  • Unit Three: Unit Type: 1 Bedroom
Unit Four
  • Unit Four: Baths Total: 1.0
  • Unit Four: Beds Total: 1.0
  • Unit Four: Kitchen: true
  • Unit Four: Living Area: 536.0
  • Unit Four: Living Room: true
  • Unit Four: Porch: true
  • Unit Four: Refrigerator: true

Property History for 509 Cape Avenue

DateEvent & SourcePriceAppreciation
Apr 3, 2026

Listed (Active)

TRIANGLEMLS #10157441

$975,000—
Mar 26, 2015

Sold (Public Record)

Public Record #490917368

$200,000—
DateEvent & SourcePrice
04/03/2026

Listed (Active)

TRIANGLEMLS #10157441

$975,000
03/26/2015

Sold (Public Record)

Public Record #490917368

$200,000

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

Public Records for 509 Cape Avenue

Taxable ValueLand$348,000Additions$288,478Total$636,478
Tax Record2025$4,809 ($401 / month)
Home Facts
Total Finished SqFt1,073 SqFtAbove Grade Finished SqFt1,073 SqFtStories1Lot Size12,632 SqFtStyleDuplexYear Built1940ZoningR-10CountyWAKEAPN1703.52-95-1327 0017724

Schools near 509 Cape Avenue

This home is within Wake County School District.
Rating
School
Type
Grades
Distance
Joyner Elementary
Public - PK to 5
Moore Square Museum Magnet Mid
Public - 6 to 8
Needham Broughton High
Public - 9 to 12
Wake Young Men's Leadership Academy
Public - 6 to 13
Rating
School
Distance
Joyner Elementary
PublicPK to 5

Moore Square Museum Magnet Mid
Public6 to 8

Needham Broughton High
Public9 to 12

Wake Young Men's Leadership Academy
Public6 to 13

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 509 Cape Avenue, Raleigh, NC 27601

509 Cape Avenue is a multi-family home for sale in Raleigh, NC 27601. This property was listed for sale on April 3, 2026 by Rich Realty Group, it's currently listed at $975,000. It has been on the market for a total of 1 days and was last sold on March 26, 2015. This listing's school district is Wake County School District. Nearby schools include Joyner Elementary, Moore Square Museum Magnet Mid and Needham Broughton High. 509 Cape Avenue is a 6-bed, 4-bath, 2,513 sqft multi-family home built in 1940.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims 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 discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Rich Realty Group

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.