5124 Melbourne Road , Raleigh, NC 27606
Raleigh, NC 27606
Description
Incredible investment opportunity in desirable Cardinal Hills/NC State area. Cash flowing, stabilized property with leases in place through 6/30/2026. This thoughtfully updated 5 bedroom, 2 bathroom home is located on a large, fenced 0.31 acre lot. Single lease in effect - Not individual. 7/1/24 - 6/30/25 Lease at $5,000/month. 7/1/25 - 6/30/26 Lease at $5,000/month. Extremely turnkey property with designer finishes and sleek new appliances. Improvements in 2023 include: New roof, updated kitchen, 2 full bathroom renovations, premium crawlspace encapsulation, Rheem tankless hot water heater, refinished hardwoods, and new concrete driveway. 3 bedrooms are located on the main level with 2 additional bedrooms located on the second floor. Two separate front entrances, interior spiral staircase, and second floor loft provide tenants with maximum living flexibility and privacy. Close proximity to NC State and 440. Appliances and Washer/Dryer convey. This investment property is As-Is and ready to go! Buyers & Buyers Agents, please reach out to Listing Agent for all property disclosures and full list of upgrades.
Details
| MLS# | 10068373 |
|---|---|
| Listing Type | For Lease |
| Style | House |
| Status | Pending |
| Year | 1958 |
| Days On Site | 50 |
| Listing Provided By | DAVIS REALTY AND DEVELOPMENT C | Ben Davis |
Features
| Bed(s) | 5 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 2,417 |
| Story(s) | 2 |
| Units | 1 |
| Zoning | R-4 |
| Acreage | 0.31 |
| Property View | Yes |
Market Activity 27606
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Learn More About This Property
| State | NC |
|---|---|
| County | Wake |
| City | Raleigh |
| Zip Code | 27606 |
| Area | Wake |
| Community Name | Cardinal Hills |
| School District | Wake - Athens Dr |
| Elementary School | Wake - Adams |
| Middle School | Wake - Lufkin Road |
| High School | Wake - Athens Dr |
| Listing VS Median (in Cardinal Hills) | |
Price: $635,000 low | high Med: $385,000 SqFt: 2,417 low | high Med: 1,281 $ / SqFt: $263 low | high Med: $301 On Site: 50 low | high Med: 2.000000 | |