An investment opportunity with income already in place! Welcome to 104/106 Rainbow Court, a fully tenant-occupied duplex just minutes from Downtown Cary and the popular Downtown Cary Park. With both units currently rented, this property offers investors the opportunity to step into an established rental arrangement and begin collecting rental income from day one of ownership, subject to existing lease terms. The duplex features a total of 5 bedrooms, 2 full bathrooms, and 2 half bathrooms across both units, with one side offering 3 bedrooms and 1.5 baths and the other featuring 2 bedrooms and 1.5 baths. Two separate living spaces provide rental flexibility and multiple income streams, making this an appealing addition to an investment portfolio. And the location only adds to its appeal! Just minutes from Downtown Cary, residents enjoy convenient access to restaurants, shops, entertainment, and the incredible Downtown Cary Park. With continued investment and revitalization throughout the downtown area, this established location puts owners close to one of the Triangle's most exciting destinations. Whether you're growing your rental portfolio or making your first investment purchase, 104/106 Rainbow Court offers a chance to acquire an income-producing property with tenants already in place. No need to start from scratch finding renters—this investment is already up and running!
For sale
$622,500
104 Rainbow Ct, Cary, NC 27511
5beds
2,300sqft
Duplex
Built in 1973
-- sqft lot
$602,500 Zestimate®
$271/sqft
$-- HOA
What's special
Two separate living spaces
- 10 days
- 488
- 28
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
Annette Holt 919-810-2203,
Compass -- Cary ,
Davis Holt 919-810-2188,
Compass -- Cary
Source: Doorify MLS,MLS#: 10198593
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 2
- Full bathrooms: 2
- 1/2 bathrooms: 2
Heating
- Central
Cooling
- Central Air
Features
- Flooring: Tile
- Common walls with other units/homes: 1 Common Wall
Interior area
- Total structure area: 2,300
- Total interior livable area: 2,300 sqft
- Finished area above ground: 2,300
- Finished area below ground: 0
Property
Parking
- Total spaces: 2
- Parking features: Concrete, Open
- Uncovered spaces: 2
Features
- Levels: Two
- Stories: 2
- Patio & porch: Covered, Front Porch, Patio
- Has view: Yes
- View description: Trees/Woods
Lot
- Size: 0.37 Acres
Details
- Parcel number: 0764823474
- Zoning: TRP
- Special conditions: Seller Licensed Real Estate Professional
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Duplex
Materials
- Brick, Shake Siding
- Foundation: Slab
- Roof: Shingle
Condition
- New construction: No
- Year built: 1973
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Subdivision: Rainbow Estates
HOA
- Has HOA: No
Location
- Region: Cary
Financial & listing details
- Price per square foot: $271/sqft
- Tax assessed value: $589,340
- Annual tax amount: $5,371
- Date on market: 10/15/2026
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,Conventional
- Lease term: 12 Months
Estimated market value
$602,500
$572,000 - $633,000
$1,592/mo
Price history
| Date | Event | Price |
|---|---|---|
| 10/15/2026 | Listed for sale | $622,500+632.4%$271/sqft |
Source: | ||
| 5/20/2019 | Listing removed | $1,275$1/sqft |
Source: The Tar Heel Companies of North Carolina, Inc. Report a problem | ||
| 1/31/2019 | Listed for rent | $1,275+13.3%$1/sqft |
Source: The Tar Heel Companies of North Carolina, Inc. Report a problem | ||
| 2/24/2018 | Listing removed | $1,125 |
Source: The Tar Heel Companies of North Carolina, Inc. Report a problem | ||
| 2/20/2018 | Listed for rent | $1,125 |
Source: The Tar Heel Companies of North Carolina, Inc. Report a problem | ||
| 6/30/1986 | Sold | $85,000$37/sqft |
Source: Agent Provided Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $5,091 +2.2% | $589,340 |
| 2024 | $4,982 +117.2% | $589,340 +162.1% |
| 2023 | $2,293 +3.8% | $224,865 |
| 2022 | $2,209 +2% | $224,865 |
| 2021 | $2,165 -0.5% | $224,865 |
| 2020 | $2,176 +22.2% | $224,865 +38.3% |
| 2019 | $1,780 | $162,542 |
| 2018 | $1,780 +10.7% | $162,542 |
| 2017 | $1,609 +1.5% | $162,542 |
| 2016 | $1,585 -4.2% | $162,542 -0.9% |
| 2015 | $1,655 +5.9% | $164,020 |
| 2014 | $1,562 | $164,020 |
| 2013 | -- | $164,020 |
| 2012 | -- | $164,020 |
| 2011 | -- | $164,020 |
| 2010 | -- | $164,020 |
| 2009 | -- | $164,020 |
| 2008 | -- | -- |
| 2007 | -- | -- |
| 2006 | -- | -- |
| 2005 | -- | -- |
| 2004 | -- | -- |
| 2003 | -- | -- |
| 2002 | -- | -- |
| 2001 | -- | -- |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 27511
Nearby schools
Schools provided by the listing agent
- Elementary: Wake - Cary Elementary
- Middle: Wake - East Cary Middle
- High: Wake - Cary High
Source: Doorify MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.







