8025 Perry Creek Rd · Raleigh, NC 27616

$250,000

6 bd · 2.5 ba · 1,437 sqft · MultiFamily public records · 22 Days on market

Built 1986 4,356 sqft lot

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Recently updated income property, fully occupied, granite countertops, LVP flooring downstairs, fenced back yard, 3b 3b in each unit. See MLS #10169960. Price is per unit 8023 and 8025 Perry Creek Rd. Properties to be sold together. See additional MLS listing for unit 8023 Perry Creek Rd. This is a recently subdivided duplex with two individual parcel numbers. Property tax, assessed value, and acreage listed per unit. New survey available. Seller has additional multifamily properties available for sale. Contact listing agent if interested. Please do not disturb tenants! No sign on property. ShowingTime for appointments or contact: Tanya Laton 919-369-1540, [email protected]

Key facts

• Fenced back yard
• Recently updated
• Subdivided duplex

Tags

• GRANITE COUNTERTOPS
• LVP FLOORING
• FENCED BACK YARD
• RECENTLY UPDATED
• SUBDIVIDED DUPLEX

Property features AI

Finance

• Financial info: 4 total units; Owner pays management; Tenants pay all utilities
• HOA & community: No association

Exterior

• Parking: Driveway with paved parking; 2 open parking spaces
• Utilities: Public water; Public sewer; Electricity connected; Sewer connected; Water connected
• Home design: Duplex; Two levels
• Construction: Vinyl siding; Architectural shingle roof; Built as a duplex
• Exterior features: Grassed vegetation; Back yard chain link fencing

Interior

• Kitchen: Dishwasher; Electric oven; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Updated/remodeled condition; Deck; Balcony; Fenced yard; Rain gutters; Storage

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.5-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $532/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Recommended offer: $246k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 2.7% in Raleigh — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 83/100 on livability (#10 in NC, #1,028 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Wake County Schools (suburban): math 52% / reading 60% proficiency, ranked #35 of 178 in NC (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.8%/yr); 435 active listings in the ZIP; solid renter incomes; 15,249 units permitted in Wake County in 2024 (5,568 in 5+ unit buildings).
• At $3,534/mo this rent would consume 51% of the median local household income ($84k/yr) (locally 2647% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Wake County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.8% rent growth), your $70k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $250k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 50% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $246,250 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.41% ✓
• Cap rate: 11.40%
• Cash-on-cash: 18.24%
• DSCR: 1.81
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.79% rent growth · sell at horizon

5-year hold

• IRR: 8.5%
• Equity multiple: 1.33×
• Total profit: $23,068
• Equity at exit: $37,276

10-year hold

• IRR: 16.7%
• Equity multiple: 2.29×
• Total profit: $90,553
• Equity at exit: $21,615

Cash invested: $70,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 85 Strongly Landlord-Friendly
• State North Carolina: 85 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

10-day notice; preempted; landlord-favorable but court speed varies.

Methodology + full state rankings →

ZIP-level market 27616

• Home prices YoY: -26.6%
• Rents YoY: 1.8%
• Active inventory: 435
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $3,534 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$742
• Net cashflow: $1,064

Break-even live

Break-even rent $2,187

Max offer price $250,000

Occupancy floor 65%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2.5	$3,534
Total (2 units)			$3,534

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $250,000 Active 22 DOM
2. 2026-06-17
   days on market $250,000 Active 21 DOM
3. 2026-06-16
   remarks 684-char remark
4. 2026-06-16
   pricedays on market $250,000 Active 20 DOM
5. 2026-06-15
   days on market $500,000 Active 19 DOM
6. 2026-06-13
   days on market $500,000 Active 17 DOM
7. 2026-06-13
   days on market $500,000 Active 16 DOM
8. 2026-06-09
   days on market $500,000 Active 13 DOM
9. 2026-06-08
   days on market $500,000 Active 12 DOM
10. 2026-06-07
    days on market $500,000 Active 11 DOM
11. 2026-06-05
    days on market $500,000 Active 8 DOM
12. 2026-06-03
    days on market $500,000 Active 7 DOM
13. 2026-06-02
    days on market $500,000 Active 6 DOM
14. 2026-06-01
    days on market $500,000 Active 5 DOM
15. 2026-05-31
    days on market $500,000 Active 4 DOM
16. 2026-05-27
    listed $500,000 Active
17. 2024-03-26
    historical $1,595
18. 2024-03-15
    listed $1,595

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 50% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,408
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,393
• − Management: −$3,393
• − Depreciation: −$7,273
• Taxable income: $9,346
• Est. tax owed @ 24.0%: −$2,243
• After-tax cash flow: $10,527/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Wake County Schools
• NCES district ID: 3704720
• Math proficiency: 52% ▲ 2.00%
• Reading proficiency: 60% ▲ 4.00%
• Median HH income: $67,509
• Composite: 49.41/100
• National rank: #2010
• State rank: #35 of 178 in NC

Livability — Raleigh

• Score: 83/100
• State rank: #10
• US rank: #1028

Category grades

Amenities A+ Commute A+ Cost of living C+ Crime F Employment B Housing A+ Health & safety A+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Raleigh, NC
• County: Wake County · 1,216,256 people
• City population: 569,344
• Metro: Raleigh-Cary, NC
• Population (ZIP): 63,520
• Household income: $83,565
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 2647.0

Population outlook (Wake County) Hauer SSP2

• Today (2025): 1,293,152 people
• By 2030: 1,428,223 · +10.4%
• By 2040: 1,698,188 · +31.3%
• By 2050: 1,955,807 · +51.2%
• By 2075: 2,520,273 · +94.9%
• By 2100: 2,893,335 · +123.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Black 38% White 31% Hispanic / Latino 20% Two or more races 12% Asian 7%
• Hispanic origin (detail): Mexican 8% Puerto Rican 3% Dominican 2%
• Common ancestry: Slovak 2% Italian 1% Romanian 1%
• Foreign-born: 20% · Canada, Vietnam, Jamaica
• Languages at home: 71% English-only · Spanish 16% Other Indo-European 3% Vietnamese 2%

Political lean MEDSL · Wake

• 2024 margin: Strong D (+25.5) · D 61.9% · R 36.4% · Other 1.7%
• 2008→2024 swing: +11.1pp toward D · 2008: 14.4pp · 2024: 25.5pp
• All cycles: 2024: D+25.5 2020: D+26.4 2016: D+20.5 2012: D+10.2 2008: D+14.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.35%
• Current HPI: 224.0782
• Rent YoY: ▲ 1.79%
• Metro: Raleigh-Cary, NC
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

Industry mix (Fortune 500 HQ in NC)

Industry	F500 HQs	Revenue
▸Financial Services	2	$213B
▸Retail	2	$95B
▸Industrial Conglomerate	1	$38B
▸Metals / Steel	1	$35B
▸Utilities	1	$30B
▸Industrial Machinery	1	$19B

Price history

+31248.0% since first listed

3 events — show timeline

• 2026-05-27 Listed $500,000 TMLS
• 2024-03-26 Rental Removed $1,595 TMLS
• 2024-03-15 Listed for Rent $1,595 TMLS