For sale

$975,000

509 Cape Ave, Raleigh, NC 27601

6beds

2,513sqft

Est.:

Quadruplex, Multi Family, Duplex

Built in 1940

-- sqft lot

$627,600 Zestimate^®

$388/sqft

$-- HOA

What's special

Four beautifully updated unitsLarge corner lot

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.

2 days

419

24

Tour with a local agent

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 6
Bathrooms: 4
Full bathrooms: 4

Heating

Ductless, Electric

Cooling

Ductless, Electric, Multi Units, Wall Unit(s)

Appliances

Included: Dishwasher, Dryer, Electric Oven, Electric Range, Oven, Refrigerator, Washer/Dryer, Water Heater
Laundry: In Hall, See Remarks

Features

Ceiling Fan(s), Eat-in Kitchen, Kitchen/Dining Room Combination
Flooring: Linoleum, Vinyl, Tile
Has fireplace: No
Common walls with other units/homes: 1 Common Wall, No One Above, No One Below

Interior area

Total structure area: 2,513
Total interior livable area: 2,513 sqft
Finished area above ground: 2,513
Finished area below ground: 0

Property

Parking

Total spaces: 10
Parking features: Common, Concrete, Gravel, Off Street, On Site, On Street
Uncovered spaces: 10

Features

Levels: One
Stories: 1
Patio & porch: Porch
Exterior features: Courtyard
Has view: Yes
View description: Downtown, Park/Greenbelt, Skyline, Trees/Woods

Lot

Size: 0.29 Acres
Dimensions: 123 x 101 x 123 x 101
Features: Cleared, Corner Lot, Near Public Transit, Views, See Remarks

Details

Parcel number: 170352951327000 0017724
Zoning: R-10
Special conditions: Standard,Trust

Construction

Type & style

Home type: MultiFamily
Property subtype: Quadruplex, Multi Family, Duplex

Materials

Block, Brick Veneer
Foundation: Block
Roof: Shingle

Condition

New construction: No
Year built: 1940

Utilities & green energy

Sewer: Public Sewer
Water: Public
Utilities for property: Electricity Connected, Sewer Connected, Water Connected

Community & HOA

Community

Subdivision: Not in a Subdivision

HOA

Has HOA: No

Location

Region: Raleigh

Financial & listing details

Price per square foot: $388/sqft
Tax assessed value: $636,478
Annual tax amount: $4,809
Date on market: 4/3/2026
Lease term: 12 Months

Estimated market value

$627,600

$552,000 - $722,000

$1,290/mo

Price history

Date	Event	Price
4/3/2026	Listed for sale	$975,000+387.5%$388/sqft
Source: Doorify MLS #10157441 Report a problem
8/5/2025	Listing removed	$1,095
Source: Zillow Rentals Report a problem
7/2/2025	Listed for rent	$1,095
Source: Zillow Rentals Report a problem
3/26/2015	Sold	$200,000$80/sqft
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$4,809 +0.4%	$636,478 +17.4%
2024	$4,790 +12.7%	$542,280 +41.8%
2023	$4,250 +7.5%	$382,530
2022	$3,953 +4%	$382,530
2021	$3,802	$382,530
2020	--	$382,530 +59.8%
2019	--	$239,446
2018	--	$239,446
2017	--	$239,446
2016	$2,519	$239,446 +26.1%
2015	--	$189,836
2014	$1,944	$189,836