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For sale
  • $622,500

    128 Rainbow Ct, Cary, NC 27511

    5beds
    2,624sqft
    : 
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    Duplex, Multi Family
    Built in 1973
    -- sqft lot
    $602,700 Zestimate®
    $237/sqft
    $-- HOA

    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.
    10 days
    |
    845
    |
    48
    |

    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#: 10177740MLS Logo

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      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 5
      • Bathrooms: 4
      • Full bathrooms: 2
      • 1/2 bathrooms: 2
      Heating
      • Central, None
      Cooling
      • Central Air
      Features
      • Flooring: Carpet, Linoleum, 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
      • Has view: Yes
      Lot
      • Size: 0.39 Acres
      Details
      • Parcel number: 0764814829
      • Zoning: TRP
      • Special conditions: Seller Licensed Real Estate Professional,Standard

      Construction

      Type & style
      • Home type: MultiFamily
      • Property subtype: Duplex, Multi Family
      Materials
      • Brick, Wood Siding
      • 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: $237/sqft
      • Tax assessed value: $607,941
      • Annual tax amount: $5,250
      • Date on market: 7/2/2026
      • Lease term: 12 Months

        Estimated market value

        $602,700

        $573,000 - $633,000

        $1,781/mo

        Price history

        DateEventPrice
        7/2/2026Listed for sale$622,500+659.1%$237/sqft
        Source: Doorify MLS #10177740 Report a problem
        5/17/1984Sold$82,000$31/sqft
        Source: Agent Provided 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

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        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.
        See how much you could borrow to make a competitive offer.

        Climate risks

        Neighborhood: 27511

        Getting around

        57 / 100
        Somewhat Walkable
        40 / 100
        Some Transit
        47 / 100
        Somewhat Bikeable

        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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