Sold
Last Sold Price
5 beds2,417 sqft
5124 Melbourne Rd, Raleigh, NC 27606
Single FamilyProperty Type
0.31 acresLot Size
1958Year Built
$244/sq ftPrice per sq ft
4 carsParking Spaces

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.
  • Listed by: Ben Davis 919.356.6881 ben@davisrealtydevelopment.com Brokerage DRE #C39976 • Davis Realty And Development C
  • Listed by: Elizabeth Ann Jordan 919.308.2337 elizabeth@davisrealtydevelopment.com Brokerage DRE #C39976 • Davis Realty And Development C
Listing closed: 02/24/2025 12:00 AM • Source: Doorify MLS (fka Triangle MLS), MLS#: 10068373

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Location

Listing Courtesy of Davis Realty And Development C

Sold By O'Meara Realty Group Inc.

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Payment Calculator

$3,436 per month

30 year fixed, 7.03% Interest

Principal and Interest

$3,150

Property Taxes

$287

HOA Dues

$0

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Property Information for 5124 Melbourne Road

Property Details
  • Taxes: $3,439 / year
  • MLS Type: Residential Income / Single Family Residence
  • County: Wake County
  • Zoning Description: R-4
  • Waterfront: No
  • Subdivision: Cardinal Hills
Building Information
  • Stories: 2
  • Year Built: 1958
  • Lot Size: 0.31 AC / 13,503 SF
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
  • Has City Limits: Yes
  • Lot Number: 4
  • Has Restrictive Covenants: No
Contract Information
  • Has Comp Sale: No
  • Lease Expiration Date: 2026-06-30
  • Original MLS: Triangle MLS Inc
  • Has Property Leased: Yes
School Information
  • Elementary School: Wake - Adams Elementary
  • Middle Or Junior School: Wake - Lufkin Road Middle
  • High School: Wake - Athens Drive High
Parking
  • Open Parking Spaces: 4.0
  • Open Parking: Yes
  • Parking Features: Concrete, Driveway
Property
Lot Information
  • Building Area Total: 2417.0
  • Building Features: Shared Utilities
  • Lot Features: Back Yard, Front Yard, Hardwood Trees
  • Total Other Area Sq Ft: 0.0
  • Number Of Buildings: 1
  • Parcel Number: 0783583167
  • Structure Type: House
  • Enhanced Accessible: No
  • Sold PriceList Price: 0.93
Property and Assessments
  • New Construction: No
  • Above Grade Finished Area Source: Appraiser
  • Below Grade Finished Area Source: Appraiser
  • Senior Community: No
Utilities
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Water Source: Public
Interior and Exterior Features
Exterior Features
  • Association Amenities: None
  • Construction Materials: Brick, Vinyl Siding
  • Exterior Features: Rain Gutters
  • Fencing: None
  • Foundation Details: Brick/Mortar, Slab
  • Patio And Porch Features: Covered, Deck, Patio, Porch
  • Roof: Architectural Shingle
  • New Construction Type: House, Brick, Vinyl Siding
Interior Features
  • Levels: Multi/Split, Two
  • Stories: 2
  • Fireplace Features: Family Room, Masonry
  • Has Fireplace: Yes
  • Fireplaces Total: 1
  • Flooring: Hardwood, Tile
  • Cooling: Central Air, Ceiling Fan(s)
  • Has Cooling: Yes
  • Heating: Baseboard, Central
  • Has Heating: Yes
  • Appliances: Disposal, Dishwasher, 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, Other, Primary Downstairs, Storage, Tile Counters, Walk-In Closet(s)
  • Spa: No
Multi Family
Multi Family Information
  • Total Units: 1
Unit Information
Unit 1
  • Actual Rent: $5,000.00
Rental
Rental Information
  • Lease Term: 12 Months
  • TenantPays: Cable TV, Electricity, Gas

Property History for 5124 Melbourne Road

DateEvent & SourcePriceAppreciation
Feb 24, 2025

Sold

Doorify MLS (fka Triangle MLS) #10068373

$590,000—
Feb 21, 2025

Sold (Public Record)

Public Record #1551616310

$590,000

+25.1% / yr

Jan 11, 2025

Pending

Doorify MLS (fka Triangle MLS) #10068373

—
DateEvent & SourcePrice
02/24/2025

Sold

Doorify MLS (fka Triangle MLS) #10068373

$590,000
02/21/2025

Sold (Public Record)

Public Record #1551616310

$590,000

+25.1% / yr

01/11/2025

Pending

Doorify MLS (fka Triangle MLS) #10068373

—

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 Built1958Year Renovated1975ZoningR-4CountyWAKEAPN0783.07-58-3167-000

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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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.