The House
3 bed / 2 bath · ~1,200 sf
Step into the anchor home: open kitchen with quartz counters, wood-burning fireplace, in-unit laundry — largest footprint and strongest rent line.
2026 YTD avg ≈$2,259/mo
July list $2,500/mo
$549,900
4816 Whitehall Ave, Raleigh, NC 27604
Listed by Top Dog Real Estate LLC · N&M Realty
- 3 units
- Renovated 2024
- ~2,133 sq ft
- 5 bed / 4 bath
- Downtown / WakeMed ~10 min
- Cash · as-is
What’s special
Three renovated homes. One Raleigh address. Open-book income.
Income-producing brick ranch at 4816 Whitehall Ave — renovated in 2024 into The House, The Apartment, and The Studio. About ten minutes to Downtown Raleigh and WakeMed. Quartz kitchens, private entries, off-street parking, and owner-reported rents you can underwrite.
The units
July list rents vs 2026 YTD averages (Jan–Oct). Owner-reported — rent roll available on request.
The Apartment
1 bed / 1 bath · ~500 sf
A bright, self-contained one-bed with modern bath finishes — the steadiest rent line across the open-book period.
2026 YTD avg $2,000/mo
July list $2,000/mo
The Studio
Studio · ~433 sf, furnished
An efficient furnished studio built for flexible mid- or short-term stays — strong yield line when booked.
2026 YTD avg ≈$1,809/mo
July list $1,860/mo
Studio positioned for mid-term or short-term stays. STR permit status: confirm. Do not assume all units include furniture.
By the numbers
Owner-reported through Oct 2026. Underwrite both paths.
NOI · self-manage
≈$43,678
Sheet pro-forma · zeros PM (~$10.3k/yr)
NOI · with PM
≈$33,400
2026 run-rate if PM continues
Nights booked
265
Jan–Oct 2026
Illustrative caps
~7.9% / ~6.1%
Self-manage / with PM at $549,900
| Period | Total revenue | NOI | Notes |
|---|---|---|---|
| 2024 actual | $75,584 | $39,824 | Full year |
| 2025 actual | $76,425 | $39,835 | Full year |
| 2026 YTD Jan–Oct | $62,915 | $27,797 | Includes PM fees |
| 2026 annualize (×12/10) | ≈$75,498 | ≈$33,400 with PM | Ops run-rate if PM continues |
| 2026 sheet pro-forma | $75,498 | $43,678 | Zeros PM fees (~$10.3k/yr) |
2024 actual
- Total revenue
- $75,584
- NOI
- $39,824
- Notes
- Full year
2025 actual
- Total revenue
- $76,425
- NOI
- $39,835
- Notes
- Full year
2026 YTD Jan–Oct
- Total revenue
- $62,915
- NOI
- $27,797
- Notes
- Includes PM fees
2026 annualize (×12/10)
- Total revenue
- ≈$75,498
- NOI
- ≈$33,400 with PM
- Notes
- Ops run-rate if PM continues
2026 sheet pro-forma
- Total revenue
- $75,498
- NOI
- $43,678
- Notes
- Zeros PM fees (~$10.3k/yr)
Monthly total revenue run-rate about $6–7k (rent plus cleaning). Rent roll and T-12 available on request. Comparable sales available to qualified buyers on request.
Occupancy & nights
| Metric | Historical | Yearly | Monthly (Oct 2026) |
|---|---|---|---|
| Occupancy (sheet) | 93.4% | 88.3% | 96.7% |
| Avg rent / night (sheet) | $244.83 | $229.88 | $210.34 |
Occupancy (sheet)
- Historical
- 93.4%
- Yearly
- 88.3%
- Monthly (Oct 2026)
- 96.7%
Avg rent / night (sheet)
- Historical
- $244.83
- Yearly
- $229.88
- Monthly (Oct 2026)
- $210.34
2026 nights booked (Jan–Oct): 265. Revenue includes short- and mid-term stays as well as longer occupancy.
More photos
Property details
- Built / renovated
- 1960 brick ranch · renovated 2024 into three self-contained units
- Size
- About 2,133 sq ft
- Beds / baths
- 5 / 4 as currently configured
- Lot
- Confirm — public listings ~0.60 ac; prior materials showed 0.34 ac
- Utilities
- Private well and septic
- Parking
- Off-street for about 4–5 cars
- Zoning
- Confirm on Wake County iMAPS
Request a tour or the packet
Download the investor packet, email for the full package, or schedule a tour. Cash offers with proof of funds welcome. Showings by appointment only — please don’t disturb occupants.
- Investor packet
- Download PDF
- Phone
- [BUYER PHONE TBD — FO native call number coming]
- [BUYER EMAIL TBD — alias coming; use form below when live]
- Showings
- By appointment only
- Terms
- As-is · cash + proof of funds
Download investor packet Email for the packet · TBD
Private septic (confirm permit vs bedrooms in use with Wake County Environmental Health). Three-unit / short- or mid-term use: confirm allowable use with the county. Income figures are owner-reported through Oct 2026.