Last Sold Price
5 beds2,417 sqft$244/sqft
5124 Melbourne Rd, Raleigh, NC 27606

Description

Incredible investment opportunity in desirable Cardinal Hills/NC State area. Cash flowing, stabilized property with leases in place through 6/30/2026. This thoughtfully updated 5 bedroom, 2 bathroom home is located on a large, fenced 0.31 acre lot. Single lease in effect - Not individual. 7/1/24 - 6/30/25 Lease at $5,000/month. 7/1/25 - 6/30/26 Lease at $5,000/month. Extremely turnkey property with designer finishes and sleek new appliances. Improvements in 2023 include: New roof, updated kitchen,...Incredible investment opportunity in desirable Cardinal Hills/NC State area. Cash flowing, stabilized property with leases in place through 6/30/2026. This thoughtfully updated 5 bedroom, 2 bathroom home is located on a large, fenced 0.31 acre lot. Single lease in effect - Not individual. 7/1/24 - 6/30/25 Lease at $5,000/month. 7/1/25 - 6/30/26 Lease at $5,000/month. Extremely turnkey property with designer finishes and sleek new appliances. Improvements in 2023 include: New roof, updated kitchen, 2 full bathroom renovations, premium crawlspace encapsulation, Rheem tankless hot water heater, refinished hardwoods, and new concrete driveway. 3 bedrooms are located on the main level with 2 additional bedrooms located on the second floor. Two separate front entrances, interior spiral staircase, and second floor loft provide tenants with maximum living flexibility and privacy. Close proximity to NC State and 440. Appliances and Washer/Dryer convey. This investment property is As-Is and ready to go! Buyers & Buyers Agents, please reach out to Listing Agent for all property disclosures and full list of upgrades.
LISTING CLOSED: 02/25/2025 09:07 AM

  1. Listed by Ben Davis • DAVIS REALTY AND DEVELOPMENT C
  2. Listed by Elizabeth Ann Jordan • DAVIS REALTY AND DEVELOPMENT C

Property Details for 5124 Melbourne Road

Status
MLS #
10068373
Taxes
$3,439 / year
HOA Fees
-
Condo/Co-op Fees
-
Property Type
MLS Type
Residential Income / Single Family Residence
Year Built
1958
Lot Size
0.31 AC / 13,503 SF
View
Yes
Waterfront
No
Subdivision
Cardinal Hills

Location

Listing Courtesy of DAVIS REALTY AND DEVELOPMENT C

Sold By O'Meara Realty Group Inc.

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Building Information for 5124 Melbourne Road

Stories2Residences1Year Built1958Building Size-Lot Size0.31 AC / 13,503 SF

Payment Calculator

$3,285 per month

30 year fixed, 6.55% Interest

Principal and Interest

$2,999

Property Taxes

$287

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 5124 Melbourne Road

Summary
Location and General Information
  • Zoning: R-4
  • Directions: Exit 1D off of 440, house on the right.
  • Subdivision Name: Cardinal Hills
  • Latitude: 35.777878
  • Longitude: -78.712205
  • Road Frontage Type: City Street
Taxes and HOA Information
  • Association: No
  • Tax Annual Amount: $3,439.24
  • City Limits Of: Raleigh
  • City Limits YN: Yes
  • Lot Number: 4
  • Restrictive Covenants YN: No
Contract Information
  • Comp Sale YN: No
  • Lease Expiration Date: 2026-06-30
  • Original MLS: Triangle MLS Inc
  • Property Leased YN: Yes
School Information
  • Elementary School: Wake - Adams
  • Middle Or Junior School: Wake - Lufkin Road
  • High School: Wake - Athens Dr
Parking
  • Open Parking: Yes
  • Parking Features: Concrete, Driveway
  • Attached Garage: No
Property
Lot Information
  • Building Area Total: 2417.0
  • Lot Features: Back Yard, Front Yard, Hardwood Trees
  • Architectural Style: Cape Cod
  • Other Area Above Grade: 0
  • Total Other Area Sq Ft: 0
  • Number Of Buildings: 1
  • Parcel Number: 0783583167
  • Structure Type: House
  • Enhanced Accessible: No
  • Sold PriceList Price: 0.93
Property and Assessments
  • New Construction: No
  • Photos Count: 44
  • Above Grade Finished Area Source: Appraiser
  • Below Grade Finished Area: 0.0
  • Below Grade Finished Area Units: Square Feet
  • Senior Community: No
Utilities
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Water Source: Public
  • Water_Sewer: Public, Public Sewer, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Interior and Exterior Features
Exterior Features
  • Construction Materials: Brick, Vinyl Siding
  • Exterior Features: Rain Gutters
  • Fencing: None
  • Foundation Details: Brick/Mortar, Slab
  • Patio And Porch Features: Covered, Deck, Patio, Porch
  • Pool Private: No
  • Roof: Shingle
  • New Construction Type: Brick, Vinyl Siding, House
Interior Features
  • Levels: Multi/Split, Two
  • Stories: 2
  • Fireplace Features: Family Room, Masonry
  • Fireplace Y N: Yes
  • Fireplaces Total: 1
  • Flooring: Hardwood, Tile
  • Cooling: Ceiling Fan(s), Central Air
  • Cooling?: Yes
  • Heating: Baseboard, Central
  • Heating?: Yes
  • Appliances: Dishwasher, Disposal, Gas Range, Microwave, Oven, Range, Refrigerator, Washer/Dryer Stacked
  • Laundry Features: Main Level
  • Interior Features: Bookcases, Ceiling Fan(s), Double Vanity, Entrance Foyer, Granite Counters, High Speed Internet, Open Floorplan, Master Downstairs, Storage, Tile Counters, Walk-In Closet(s), Other
  • Spa: No
  • Equipment Appliances: Dishwasher, Disposal, Gas Range, Microwave, Oven, Range, Refrigerator, Washer/Dryer Stacked
  • Interior: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected, Concrete, Driveway, Brick, Vinyl Siding, Main Level
  • Equipment: Dishwasher, Disposal, Gas Range, Microwave, Oven, Range, Refrigerator, Washer/Dryer Stacked, Main Level, Concrete, Driveway
Multi Family
Unit Information
  • Total Units: 1
Agent
Sale and Listing
  • Property Type: Residential Income
  • Property Class Name: CrossProperty
Rental
Rental Information
  • Lease Term: 12 Months
  • TenantPays: Cable TV, Electricity, Gas
Units Information
Unit One
  • Unit One: Actual Rent: 5000.0
Unit Two
  • Unit Two: Actual Rent: 0.0
Unit Three
  • Unit Three: Actual Rent: 0.0
Unit Four
  • Unit Four: Actual Rent: 0.0

Property History for 5124 Melbourne Road

DateEvent & SourcePriceAppreciation
Feb 25, 2025

Sold

TRIANGLEMLS #10068373

Feb 25, 2025

Pending

TRIANGLEMLS #10068373

Feb 24, 2025

Sold

TRIANGLEMLS #10068373

$590,000
DateEvent & SourcePrice
02/25/2025

Sold

TRIANGLEMLS #10068373

02/25/2025

Pending

TRIANGLEMLS #10068373

02/24/2025

Sold

TRIANGLEMLS #10068373

$590,000

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

Public Records for 5124 Melbourne Road

Taxable ValueLand$200,000Additions$193,695Total$393,695
Tax Record2025$3,453 ($288 / month)
Home Facts
Baths2Total Finished SqFt2,436 SqFtAbove Grade Finished SqFt2,436 SqFtStories2Lot Size13,504 SqFtStyleSingle Family ResidenceYear Built1958ZoningR-4CountyWAKEAPN0783.07-58-3167 0052652Fireplace TypeHas Fireplace

Schools near 5124 Melbourne 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 - K to 8
Rating
School
Distance
Adams Elementary
PublicPK to 5

Lufkin Road Middle
Public6 to 8

Athens Drive High
Public9 to 12

Mount Vernon
PublicK to 8

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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Nearby home values

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 5124 Melbourne Road, Raleigh, NC 27606
$590,000
5
2,417
13,503
1
1,004
13,504
$250,000
2
1,586
16,117
1
1,420
13,504
$384,000
2
2,523
16,988
$285,001
3
1,288
16,988

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.

Listing Courtesy of DAVIS REALTY AND DEVELOPMENT C

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.