516 Rush Street

Raleigh, NC 27610

$2,500,000
Price
3
Beds
2
Baths
729 Sq. Ft.
$3,429 / Sq. Ft.
729
Sq. Ft.
$3,429
per Sq. Ft.

Description

Discover an exceptional investment opportunity with three contiguous lots on Rush and Marion Streets, offering both immediate income and significant growth potential. 516 Rush St. is a three-bedroom property currently operating as a weekly rental. Zoned RX-3, with potential for a 3-story building with some commercial use. Adjacent to it is a newly constructed 10-room, 10-bath duplex on Marion St., slated for completion in December 2024, with projected monthly income of $6,500.00 - $7,000.00. Together,...Discover an exceptional investment opportunity with three contiguous lots on Rush and Marion Streets, offering both immediate income and significant growth potential. 516 Rush St. is a three-bedroom property currently operating as a weekly rental. Zoned RX-3, with potential for a 3-story building with some commercial use. Adjacent to it is a newly constructed 10-room, 10-bath duplex on Marion St., slated for completion in December 2024, with projected monthly income of $6,500.00 - $7,000.00. Together, the three parcels span approximately 1.67 acres. Located near the growing Garner and CrossLink Roads corridor and the popular Crosstowne Subdivision, this property is perfectly positioned for future appreciation. For more details, refer to MLS listing #10047059 / 2806 Marion. Owner financing is available.

Listing Agent

Property Details for 516 Rush Street

Subdivision
Home Acres
LISTING UPDATED: 09/11/2024 05:35 PM

Property Details for 516 Rush Street

StatusActive
MLS #10047058
Days on Market109
Taxes$1,565 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeSingle Family
MLS TypeResidential / Single Family Residence
Year Built1952
Lot Size0.49 AC / 21,344 SF
CountyWake County

Building Information for 516 Rush Street

Stories1Year Built1952Building Size-Lot Size0.49 AC / 21,344 SF

Property Information for 516 Rush Street

Summary
Location and General Information
  • Directions: Take 440 E to US-64W. Take Exit toward Hammond Road. Left on Hammond Road. Left onto Rush St. Destination is on the corner.
  • Subdivision Name: Home Acres
  • Latitude: 35.740682
  • Longitude: -78.632651
  • Road Surface Type: Asphalt
Taxes and HOA Information
  • Association: No
  • Tax Annual Amount: $1,565.00
Contract Information
  • Comp Sale YN: No
  • Lease Expiration Date: 2024-12-31
  • Property Leased YN: Yes
  • Years Owned: 1 or More Year(s)
School Information
  • Elementary School: Wake - Smith
  • Middle Or Junior School: Wake - North Garner
  • High School: Wake - Middle Creek
Parking
  • Open Parking: Yes
  • Parking Features: Additional Parking
  • Attached Garage: No
  • Garage: No
Property
Lot Information
  • Building Area Total: 729.0
  • Lot Features: Corner Lot
  • Architectural Style: Bungalow
  • Total Other Area Sq Ft: 0
  • Parcel Number: 1702940701
  • Structure Type: Site Built
  • Enhanced Accessible: No
  • Power Production YN: Yes
  • Primary Residence YN: No
Property and Assessments
  • New Construction: No
  • Photos Count: 7
  • Below Grade Finished Area: 0.0
  • Below Grade Finished Area Units: Square Feet
Utilities
  • Sewer: Public Sewer
  • Utilities: Cable Available, Electricity Connected, Natural Gas Available, Sewer Connected, Water Connected
  • Water Source: Public
  • Water_Sewer: Public, Public Sewer, Cable Available, Electricity Connected, Natural Gas Available, Sewer Connected, Water Connected
Interior and Exterior Features
Exterior Features
  • Construction Materials: Concrete
  • Foundation Details: Block
  • Pool Private: No
  • Roof: Shingle
  • New Construction Type: Concrete, Site Built
Interior Features
  • Levels: One
  • Stories: 1
  • Flooring: Hardwood, Linoleum
  • Cooling: Heat Pump
  • Cooling?: Yes
  • Heating: Electric, Forced Air
  • Heating?: Yes
  • Interior: Cable Available, Electricity Connected, Natural Gas Available, Sewer Connected, Water Connected, Additional Parking, Concrete
  • Equipment: Additional Parking
Room Information
Room Information
  • Rooms Total: 0.0
Agent
Sale and Listing
  • Property Class Name: CrossProperty
Rental
Rental Information
  • Lease Term: Negotiable

Property History for 516 Rush Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 516 Rush Street

This home is within Wake County School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 13
Rating
School
Distance
Smith Elementary
PublicPK to 5

North Garner Middle
Public6 to 8

Middle Creek High
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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516 Rush Street is a single family home for sale in Raleigh, NC 27610. This property was listed for sale on August 15, 2024 by Compass, it's currently listed at $2,500,000. This listing's school district is Wake County School District. Nearby schools include Smith Elementary, North Garner Middle and Middle Creek High. 516 Rush Street is a 3-bed, 2-bath, 729 sqft single family home built in 1952.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

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