A rare opportunity to acquire a high-performing rental portfolio generating over $100,000 in annual rental income with a 10% CAP rate. This 8.6-acre property includes 5 single-family homes and 4 duplexes (12 doors total)—most of the homes have been extensively renovated and are leased through February 2026, with just one unit currently on a month-to-month lease. The homes are in move-in ready condition, offering a turnkey solution for investors seeking immediate cash flow. Strategically located near Panther Lake, this property also provides potential for creative long-term exit strategies, future development, or value-add opportunities. A vacant duplex on-site presents the possibility to increase the portfolio to 14 total units, further enhancing returns. With room to raise rents and long-term growth potential, this property offers both stability and upside for savvy investors.
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Beds
—
Baths
—
Stories
1
Lot width
—
Lot depth
—
Lot size
8.61 Acres
Year renovated
1957
Sq. Ft.
1,440
Year built
1920
Style
Multi-Family (2-4 Unit)
County
Wake County
APN
0696.03 10 9576 000
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Aug 11, 2026.
R-30
Residential-30 District
The R-30 districts are known as non-watershed residential districts. These districts allow a range of very-low to moderate-density residential development and various building forms, depending on the specific district. A limited number of nonresidential uses are also allowed. Some nonresidential uses are permitted by-right; others are allowed only within designated activity centers and then only if the Board of Adjustment first reviews and approves a site plan and Special Use Permit for such use.
Permitted uses
Include but are not limited to:
Religious facility
Housing-Single unit
Housing-Multiple units
Educational/school
Library
Golf related
Housing-Mobile home park
Park & open space
Property details
Parking
Parking Information
Open Parking: Yes
Open Parking Spaces: 20
Parking Total: 20
Interior
Bathroom Information
Bathrooms Full: 12
Bedroom Information
Bedrooms Total: 20
Interior Features
Flooring: Vinyl
Exterior
Building Information
Construction Materials: Concrete
Building Area Total: 10823.0
Exterior Features
Foundation Details: Slab
Roof: Shingle
Property information
Above Grade Finished Area: 10823.0
Below Grade Finished Area: 0.0
Levels: One
Lot Information
Lot Size Acres: 8.61
Lot Size Area: 8.61
Lot Size Square Feet: 375050.0
Lot Size Units: Acres
Financial
Tax Information
Tax Annual Amount: 2474.3
Financial Information
Buyer Financing: Other
Utilities
Utility Information
Sewer: Septic Tank, Shared Septic
Water Source: Shared Well
Heating & Cooling
Heating Information: See Remarks
Cooling: Yes
Cooling Information: Other
Location
HOA Information
Association: No
School Information
Elementary School: Wake - Willow Springs
Middle Or Junior School: Wake - Herbert Akins Road
High School: Wake - Willow Spring
Location Information
County Or Parish: Wake
Directions: Follow I-440 E, I-40 E and NC-540 W to Old Stage Rd. Exit from NC-540 W. Drive to Old Stage Rd.
Latitude: 35.564743
Longitude: -78.690228
Postal Code: 27592
Road Responsibility: Public Maintained Road
Public facts
Beds: —
Baths: —
Sq. Ft.: 1,440
Stories: 1.0
Lot Size: 8.61 acres
Style: Multi-Family (2-4 Unit)
Year Built: 1920
Year Renovated: 1957
County: Wake County
APN: 0696.03 10 9576 000
Home facts updated by county records on Aug 10, 2026
Other
Listing Date Information
Contract Status Change Date: 2025-07-10
Documents Change Timestamp: 2025-06-16T14:32:28Z
Photos Change Timestamp: 2025-06-12T19:08:45Z
Around this home
Schools
Willow Springs Elementary
Public K-5 • Assigned • 2.9mi
9/10
Herbert Akins Road Middle
Public 6-8 • Assigned • 7.5mi
8/10
Willow Spring High
Public 9-12 • Assigned • 2.7mi
6/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
3/10 Fire Factor
0.46% chance of being in a wildfire in next 30 years
6/10 Heat Factor
7 days above 105° expected this year, 16 days in 30 years
6/10 Wind Factor
64% chance of strong winds in next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 2 days in 30 years
Provided by First Street
Historical weather
Willow Spring, NC • 27592
Average low and high temperatures (°F)
50
29
56
35
71
45
78
53
79
59
89
68
91
73
84
68
81
64
72
51
66
44
55
34
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 9 hours in
June and 5.2 hours in December, which is comparable to the
U.S. average for solar exposure.
9 hrs
5.2 hrs
JuneDecember
Provided by Shadowmap
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