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About This Home

This 2-bedroom, 3-bathroom residential multi family at 109 Rainbow unit: 109-111 in Cary, NC is listed for $615,000 ($250 per sqft). Built in 1973, the home offers 2,456 sqft of living space on a 0.28 acres lot.

Agent Description

Discover a rare and flexible investment opportunity in the heart of one of the Triangle's most dynamic and rapidly evolving areas. 109/111 Rainbow Court offers versatility that is increasingly difficult to find, whether you are an investor seeking immediate income or a buyer looking to live in one side while renting the other.

Located just minutes from Downtown Cary and the highly acclaimed Downtown Cary Park, this property sits directly in the path of continued growth and revitalization. The park has quickly become a centerpiece of the community, fueling new restaurants, retail, and energy throughout the area.

As Downtown Cary continues to evolve, opportunities to own property this close to it are becoming more limited. The duplex features a total of 5 bedrooms, 2 full bathrooms, and 2 half bathrooms across both units. One side offers a 3 bedroom, 1.5 bath layout, while the other provides a 2 bedroom, 1.5 bath layout.

This setup creates flexibility for a variety of living or rental scenarios. One unit is currently rented, providing immediate income, while the other is vacant and ready for occupancy. This creates an ideal situation for an owner occupant looking to offset their mortgage, or for an investor aiming to maximize rental potential from day one.

Opportunities like this are hard to find, especially in a location where growth, walkability, and long term upside all come together. Whether you are building your portfolio or planting roots with a smart strategy, Rainbow Court is a compelling opportunity worth a closer look.

Key Features

  • Built in 1973
  • 0.28 acre lot
  • 2 stories

Property Details

2 stories
30 full, 1 half
1973

Amenities

A/C

Monthly Cost Estimate

$3,289/mo

20% down · 6.5% · 30 years

Principal$445
Interest$2,665
Insurance$179

Estimates only. Actual payments may vary.

Location

109 Rainbow unit: 109-111

Cary, NC 27511

Rainbow Estates

Property Details

Flooring

CarpetLinoleumVinyl

Construction

Wood Siding

Parking

Open

Heating

Central

Cooling

Central Air

Questions & Answers

This 2-bedroom, 3-bathroom residential multi family at 109 Rainbow unit: 109-111 is listed at $615,000 ($250/sqft). The estimated monthly payment is $2,665 based on 20% down at 6.5% interest.

Key features include: Built in 1973, 0.28 acre lot, 2 stories.

This property is listed by Annette Holt and can be reached at 9198102203 or annette.holt@compass.com.

AH

Annette Holt

Agent at Compass -- Cary

(919) 810-2203

Listed by Compass -- Cary

MLS# 10157549· Source: listhub· Updated 7 days ago

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109 Rainbow unit: 109-111, Cary, NC 27511

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