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Sold for $617,500
  • $617,500

    128 Rainbow Ct, Cary, NC 27511

    5beds
    2,624sqft
    Duplex
    Built in 1973
    -- sqft lot
    $617,300 Zestimate®
    $235/sqft
    $1,710 Estimated rent

    Home value

    $617,300

    $586,000 - $648,000

    $1,710/mo

    Zestimate® history
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    $3,714/mo

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    What's special

    Well-maintained duplexPrivate entrancesTwo spacious residencesDedicated parking
    Exceptional investment opportunity in the heart of Cary. 128 & 130 Rainbow Court offers a well-maintained duplex just minutes from Downtown Cary, providing investors with immediate cash flow and long-term upside in one of the Triangle's most sought-after locations. Both units are currently leased, with leases in place through March 2027 and June 2027, creating stable, predictable income from day one. The property features two spacious residences with private entrances, dedicated parking, and strong rental appeal driven by the area's continued growth and demand. Located less than two miles from Downtown Cary Park, residents enjoy easy access to award-winning restaurants, local breweries, shopping, entertainment, and community events. The property is also conveniently located near Fenton, WakeMed Soccer Park, major employment centers, and commuter routes including US-1, I-40, and NC-540. Whether you're looking to expand your portfolio with a turnkey asset or secure a long-term hold in a premier Cary location, 128 & 130 Rainbow Court presents a rare opportunity to acquire an income-producing property with established tenants and excellent proximity to everything Cary has to offer.

    Zillow last checked:

    Listing updated:

    Listed by:

    Annette Holt 919-810-2203,

    Compass -- Cary ,

    Davis Holt 919-810-2188,

    Compass -- Cary

    Bought with:

    Michelle Lynn Stephenson, 294190

    Keller Williams Legacy

    Source: Doorify MLS,MLS#: 10177740MLS Logo

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 5
    • Bathrooms: 2
    • Full bathrooms: 2
    • 1/2 bathrooms: 2
    Heating
    • Central, None
    Cooling
    • Central Air
    Features
    • Flooring: Carpet, Linoleum, Luxury Vinyl
    • Common walls with other units/homes: 1 Common Wall
    Interior area
    • Total structure area: 2,624
    • Total interior livable area: 2,624 sqft
    • Finished area above ground: 2,624
    • Finished area below ground: 0

    Property

    Parking
    • Total spaces: 4
    • Parking features: On Site
    • Uncovered spaces: 4
    Features
    • Levels: Two
    • Stories: 2
    Lot
    • Size: 0.39 Acres
    Details
    • Parcel number: 0764814829
    • Zoning: TRP
    • Special conditions: Standard,Seller Licensed Real Estate Professional

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Duplex
    Materials
    • Brick, Wood Siding
    • Foundation: Crawlspace
    • 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: $235/sqft
    • Tax assessed value: $607,941
    • Annual tax amount: $5,250
    • Date on market: 7/2/2026
    • Listing agreement: Exclusive Right To Sell
    • Listing terms: 1031 Exchange,Cash,Conventional
    • Lease term: 12 Months
    • Tenant pays: All Utilities

    Price history

    DateEventPrice
    8/21/2026Sold$617,500-0.8%$235/sqft
    Source: Doorify MLS #10177740 Report a problem
    7/23/2026Pending sale$622,500$237/sqft
    Source: Doorify MLS #10177740 Report a problem
    7/2/2026Listed for sale$622,500$237/sqft
    Source: Doorify MLS #10177740 Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2025$5,251 +2.2%$607,941
    2024$5,138 +113%$607,941 +156.8%
    2023$2,412 +3.8%$236,708
    2022$2,323 +2%$236,708
    2021$2,277 -0.5%$236,708
    2020$2,289 +21.9%$236,708 +38%
    2019$1,877 $171,571
    2018$1,877 +10.7%$171,571
    2017$1,696 +1.5%$171,571
    2016$1,671 -4.8%$171,571 -1.5%
    2015$1,754 +5.9%$174,123
    2014$1,656 $174,123
    2013-- $174,123
    2012-- $174,123
    2011-- $174,123
    2010-- $174,123
    2009-- $174,123
    2008-- --
    2007-- --
    2006-- --
    2005-- --
    2004-- --
    2003-- --
    2002-- --
    2001-- --
    Find assessor info on the county website

    Neighborhood: 27511

    Nearby schools

    GreatSchools rating
    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.

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    Estimated market value
    $617,300
    Get a cash offer in 3 minutes
    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
    Estimated market value
    $617,300