1600 Poole Rd

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1600 Poole Rd

Raleigh, NC 27610
Asking Price
$1.15M
Asset Type
Multifamily
Class
Class B

What's Special

1600 Poole Road is situated in East Raleigh, approximately two miles from the central business district. The property is located within a transitioning residential corridor characterized by a mix of single-family homes and mid-century apartment complexes. Residents have immediate access to the GoRaleigh bus transit system, with stops located along the frontage. Neighborhood amenities include the nearby Tarboro Road Community Center and Saint Augustine’s University, while the proximity to Interstate 40 and the Beltline provides efficient regional connectivity to the greater Research Triangle area. The site is suited for workforce housing development or the renovation of existing multifamily units to serve Raleigh’s growing rental market. The location typically attracts a tenant profile consisting of urban professionals, university staff, and service-sector employees who prioritize proximity to downtown employment hubs. Given the neighborhood density and access to public transportation, the asset is positioned for consistent occupancy by residents seeking an alternative to high-density downtown high-rises while maintaining short commute times to major commercial centers.

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NOI
$80,000
Cap Rate
6.96%
DSCR
1.17
Tight
Cash-on-Cash
3.40%
Monthly Payment
$5,689.573
Annual Cash Flow
$11,725.13

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