$267,500
●
Land -
Off Market
829 Cotton Place
Raleigh, NC 27601
Studio
0 Bath
$1,359
Est. Monthly
About This Property
Rare opportunity for a extremely developable lot. It has OX-3
zoning and is in both the Frequent Transit Area and the Bus Rapid
Transit (BRT) Area. We have laid out a couple development options
in both the photos section as well as the docs section. Each lot
(829 Cotton and 931 Cotton) can have 2 units for a total of 4units.
The first option is to develop as the lot line currently sits and
the second option is to recombine the lots and move the lot line so
that you can build 4 identical units. Can be sold separately or
together with 931 Cotton Place. The City of Raleigh proposed
rezoning to OX-5. The link below takes you to the proposed
rezoning.
https://ral.maps.arcgis.com/apps/instant/lookup/index.html?appid=5a0da17620d24057a85c283546e17837
Call Matt @ with questions.
Call Matt @ with questions.
Unit Size
-
Days on Market
-
Land Size
0.07 acres
Price per sqft
-
Property Type
Land
Property Taxes
$57
HOA Dues
-
Year Built
-
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Cap Rate Calculator
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Cap Rate
100% Occupancy
N/A (extreme outlier) 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.
Last updated: 2 years ago (TMLS #10004330)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 2, 2024 | Sold | ||
| Sold | |||
| Jan 3, 2024 | Listed by Rich Realty Group | $265,000 | |
| Listed by Rich Realty Group | |||
| Dec 23, 2023 | No longer available | - | |
| No longer available | |||
| Oct 10, 2023 | Price Decreased |
$265,000
↓ $10K
(3.6%) | |
| Price Decreased | |||
| Mar 20, 2023 | Listed by Rich Realty Group, Inc | $275,000 | |
| Listed by Rich Realty Group, Inc | |||
| | |||
|
Rare opportunity for a extremely developable lot. It has OX-3 zoning and is in both the Frequent Transit Area and the Bus Rapid Transit (BRT) Area. We have laid out a couple development options in both the photos section as well as the docs section. Each lot (829 Cotton and 931 Cotton) can have 2 units for a total of 4 units. The first option is to develop as the lot line currently sits and the second option is to recombine the lots and move the lot line so that you can build 4 identical units. Can be sold separately or together with 931 Cotton Place. The City of Raleigh proposed rezoning to OX-5. The link below takes you to the proposed rezoning. https://ral.maps.arcgis.com/apps/instant/lookup/index.html?appid=5a0da17620d24057a85c283546e17837
| |||
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Property Highlights
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
About Central Raleigh
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Listed by: Matt Spitzer, Rich Realty Group
Last Updated: 2 years ago
Data Source: TMLS, MLS# 10004330
Last Updated: 2 years ago
Data Source: TMLS, MLS# 10004330
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