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Chris Pappalardo

Owner | The Chris Pappalardo Team | KW One

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4204 Reavis Rd , Raleigh, NC 27606
$4,950,000
Est. Payment: $11,000.00/mo
32 Bed
40 Bath
13600 Sqft
Status: Active | Days on site: 13
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75688 - 81566,87226
By proceeding and clicking the sign up button, you consent to receive calls and texts (SMS/MMS) including marketing and promotional communications, from , its affiliates, and agents or vendors acting on their behalf. These communications may be delivered using an automatic telephone dialing system or by using an artificial or prerecorded voice. Message and data rates may apply. To opt out of text messages, reply STOP. Your consent is not required as a condition of any purchase. By continuing, you also agree to our Terms of Use and Privacy Policy.
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House Description

Newly constructed student housing investment opportunity adjacent to NC State. Eight@State consists of eight purpose-built 4-bedroom, 4.5-bath townhomes (32 beds total) designed for strong student rental demand, with private bathrooms for every bedroom, attached garages, modern finishes, stainless steel appliances, in-unit washer/dryer, and low-maintenance construction. The property is already 50% leased for the 2026-2027 academic year, including three student leases and one developer-leased model home, providing immediate leasing momentum while allowing investors to complete lease-up ahead of the school year. Offered at $4,950,000, the asset is projected to achieve a 6.0% cap rate based on current market rental expectations of approximately $950 per bedroom per month. Located just minutes from NC State University with convenient access to Downtown Raleigh, I-440, shopping, dining, and public transit, Eight@State offers investors the opportunity to acquire a newly delivered, institutional-quality student housing asset with minimal deferred maintenance and significant long-term rental demand.34
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Highlights

Listed by Johnny Chappell , 919-737-2247 and Maggie Sparling , 919-406-4442 Compass -- Raleigh , 919-726-6548.

Property Type

Multi-Family

Year Built

2026

County

Wake

 Neighborhood

To Be Added

Listing ID

10190772

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:32
  • ▪ Bathrooms:40
  • ▪ Full Bathrooms:32
  • ▪ 1/2 Bathrooms:8
Appliances:Dishwasher, Disposal, Dryer, Free-Standing Electric Range, Freezer, Microwave, Range, Refrigerator, Stainless Steel Appliance(s), Washer, Washer/Dryer, Washer/Dryer Stacked, Water Heater
Air Cond:Central Air
Fireplaces:
Floor:Vinyl
Above Ground Sq Ft:13600
Below Ground Sq Ft:0
Other:
  • ▪ Additional:Apartment/Suite, Bathtub/Shower Combination, Ceiling Fan(s), Eat-in Kitchen, High Ceilings, High Speed Internet, Kitchen Island, Kitchen/Dining Room Combination, Living/Dining Room Combination, Open Floorplan, Master Downstairs, Recessed Lighting
Water:Public

Exterior Features

Zoning:R-10
Roof:Shingle
Others:
  • ▪ Additional:Awning(s), Lighting, Private Entrance, Rain Gutters
Sewer:Public Sewer
Parking Features:Garage,Garage Door Opener,Lighted,Off Street,On Site,Paved,Private,Secured
Principal Interest
$11,000
Taxes
$189

Home Price

$4,950,000

Loan Details

30 yrs
%

Down Payment

20%
$990,000
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:
$11,000.00

Principal

Taxes

Principal Taxes HOA Total
Monthly $11,000.00 $189.40 $0.00 $11,189.40
Yearly $132,000.00 $2,272.75 $0.00 $134,272.75
Total $3,960,000.00 $68,182.50 $0.00 $4,028,182.50

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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