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.
For sale
$975,000
509 Cape Ave, Raleigh, NC 27601
6beds
2,513sqft
Est.:
Quadruplex, Multi Family, Duplex
Built in 1940
-- sqft lot
$922,200 Zestimate®
$388/sqft
$-- HOA
What's special
Four beautifully updated unitsLarge corner lot
- 48 days |
- 630 |
- 44 |
Zillow last checked:
Listing updated:
Listed by:
Natalee Choby 919-264-4977,
Rich Realty Group
Source: Doorify MLS,MLS#: 10157441
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
$922,200
$876,000 - $968,000
$2,221/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 | $189,836 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
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All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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Climate risks
Neighborhood: Central
Nearby schools
GreatSchools rating
- 5/10Joyner ElementaryGrades: PK-5Distance: 3.1 mi
- 6/10Moore Square Magnet Middle SchoolGrades: 6-8Distance: 0.5 mi
- 7/10Needham Broughton HighGrades: 9-12Distance: 1.9 mi
Schools provided by the listing agent
- Elementary: Wake County Schools
- Middle: Wake County Schools
Source: Doorify MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
A local agent can set up tours, give advice and negotiate with sellers.
- North Carolina
- Wake County
- Raleigh
- 27601
- Central
- 509 Cape Ave
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