5500 Bobbitt Road
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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 |
|---|---|---|---|
| Sep 18, 2025 | Sold | ||
| Sold | |||
| Aug 20, 2025 | In contract | - | |
| In contract | |||
| Jul 24, 2025 | Listed by Compass -- Raleigh | $249,900 | |
| Listed by Compass -- Raleigh | |||
| Apr 3, 2025 | In contract | - | |
| In contract | |||
| Mar 6, 2025 | Listed | $239,900 | |
| Listed | |||
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Investor Alert! Budding with unbridled potential, 5500 Bobbitt is bound to become the newest addition to your bustling portfolio. Nestled on a peaceful and private street, this rare opportunity offers .35 beautiful wooded acres that is conveniently located near Downtown Apex and Holly Spring shopping centers - an ideal location for tenants. With a full restoration in 2009, this home received a complete overhaul, featuring the following improvements: new kitchen, bath, flooring, drywall, paint, light fixtures, interior doors, exterior doors, windows, electrical wiring with a new breaker box, PEX supply plumbing and new waste plumbing, insulation (attic, crawl space, and walls), a 12x12 deck, and a roof replacement. Additional improvements over the years include attractive Ascend siding and a new Washer & Dryer in 2024 as well as a newer water heater in 2021. Currently leased through August of 2025, this property comes complete with a long term tenant who has been in place for 8.5 years. Believe us, Bobbitt is an investor's dream come true.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017