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For sale
    • Price cut: $6K (5/26)
    $969,000

    509 Cape Ave, Raleigh, NC 27601

    6beds
    2,513sqft
    : 
    $5,832/mo
    Get pre-qualified
    Quadruplex, Multi Family, Duplex
    Built in 1940
    -- sqft lot
    $918,600 Zestimate®
    $386/sqft
    $-- HOA

    What's special

    Large corner lot
    Attention investors and builders! Two fully leased duplexes in the heart of Downtown Raleigh facing the grounds of Chavis Park! Four beautifully renovated and permitted 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 offering views of open park areas with walking trails and expansive green lawns! Easy access to 440/RDU, schools, hospitals and much more. Amazing location for Airbnb! Long term development potential.
    127 days
    |
    372
    |
    34
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    Natalee Choby 919-264-4977,

    Rich Realty Group

    Source: Doorify MLS,MLS#: 10157441MLS Logo

      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: $386/sqft
      • Tax assessed value: $636,478
      • Annual tax amount: $4,809
      • Date on market: 4/3/2026
      • Lease term: 12 Months

        Estimated market value

        $918,600

        $873,000 - $965,000

        $1,805/mo

        Price history

        DateEventPrice
        5/26/2026Price change$969,000-0.6%$386/sqft
        Source: Doorify MLS #10157441 Report a problem
        4/3/2026Listed for sale$975,000+387.5%$388/sqft
        Source: Doorify MLS #10157441 Report a problem
        8/5/2025Listing removed$1,095
        Source: Zillow Rentals Report a problem
        7/2/2025Listed for rent$1,095
        Source: Zillow Rentals Report a problem
        3/26/2015Sold$200,000$80/sqft
        Source: Public Record Report a problem

        Public tax history

        YearProperty taxesTax 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

        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.
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        Climate risks

        Neighborhood: Central

        Getting around

        70 / 100
        Very Walkable
        69 / 100
        Good Transit
        56 / 100
        Bikeable

        Nearby schools

        GreatSchools rating
        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.

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