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1012 Harper Road
About This Property
Lot 44 offers a rare .26-acre homesite just minutes from Downtown Raleigh and NC State--an almost unheard-of opportunity at this price point with no HOA and no restrictions.
This 4-bedroom, 2.5-bath home by a trusted local builder features 9-foot ceilings on both levels, a bright open kitchen, laminate wood flooring, high-end finishes, and abundant natural light throughout. Enjoy a spacious covered patio overlooking a beautiful flat lot with wooded views, plus an electric fireplace and a two-car garage.
Eligible buyers may qualify for up to $10,000 in lender incentives and competitive interest rates (subject to lender approval).
Conveniently located just minutes from Downtown Raleigh, NC State, I-40, I-440, Dix Park, the State Farmers Market, Cary, and more.
Mid-June delivery. Home is currently in the drywall phase. Investor-friendly.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 3, 2026 | Sold | ||
| Sold | |||
| Apr 15, 2026 | In contract | - | |
| In contract | |||
| Dec 16, 2025 | Listed by Compass -- Raleigh | $485,000 | |
| Listed by Compass -- Raleigh | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017