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Chris Pappalardo

Owner | The Chris Pappalardo Team | KW One

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104 Rainbow Ct , Cary, NC 27511
$622,500
Est. Payment: $3,317.56/mo
5 Bed
4 Bath
2300 Sqft
0.37 Acres
Status: active | Days on site: 18
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80730 - R18253,84445
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House Description

An investment opportunity with income already in place! Welcome to 104/106 Rainbow Court, a fully tenant-occupied duplex just minutes from Downtown Cary and the popular Downtown Cary Park. With both units currently rented, this property offers investors the opportunity to step into an established rental arrangement and begin collecting rental income from day one of ownership, subject to existing lease terms. The duplex features a total of 5 bedrooms, 2 full bathrooms, and 2 half bathrooms across both units, with one side offering 3 bedrooms and 1.5 baths and the other featuring 2 bedrooms and 1.5 baths. Two separate living spaces provide rental flexibility and multiple income streams, making this an appealing addition to an investment portfolio. And the location only adds to its appeal! Just minutes from Downtown Cary, residents enjoy convenient access to restaurants, shops, entertainment, and the incredible Downtown Cary Park. With continued investment and revitalization throughout the downtown area, this established location puts owners close to one of the Triangle's most exciting destinations. Whether you're growing your rental portfolio or making your first investment purchase, 104/106 Rainbow Court offers a chance to acquire an income-producing property with tenants already in place. No need to start from scratch finding renters—this investment is already up and running!

Highlights

Listed by Annette Holt , and Davis Holt , Compass -- Cary , Doorify MLS mls logo

Property Type

Multi-Family

Lot/Acreage
0.37

Year Built

1973

County

Wake

Neighborhood

Rainbow Estates

Listing ID

10198593

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:5
  • ▪ Bathrooms:4
  • ▪ Full Bathrooms:2
  • ▪ 1/2 Bathrooms:2
Appliances:Refrigerator
Air Cond:Central Air
Fireplaces:
Floor:Tile
Above Ground Sq Ft:2300
Water:Public

Exterior Features

Zoning:TRP
Roof:Shingle
Others:
  • ▪ Additional:Covered, Front Porch, Patio
Sewer:Public Sewer
Parking Features:Concrete,Open
Principal Interest
$3,318
Taxes
$397

Home Price

$622,500

Loan Details

30 yrs
7.013%

Down Payment

20%
$124,500
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$3,317.56

Principal

Taxes

Principal Taxes HOA Total
Monthly $3,317.56 $396.84 $0.00 $3,714.40
Yearly $39,810.67 $4,762.13 $0.00 $44,572.79
Total $1,194,319.97 $142,863.75 $0.00 $1,337,183.72

Today's Rates

30 Year

7.01%

20 Year

7.03%

15 Year

6.39%

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Market insight data is pulled from the same city as the listing being viewed (Cary, NC).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information Not Guaranteed.
Listings marked with an icon are provided courtesy of the Doorify MLS, Internet Data Exchange Database.
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Data last updated: 2026-11-02T13:56:34.000Z

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