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$549,900

For Sale - Active
4211 Norman Ridge Ln, Raleigh, NC 27613
4 Beds
3 Baths
2,700 Square Feet
0.07 Acres Lot
Built in 2001
For Sale - Active
1 Units
Checked: 21 hours ago
Updated: Aug 19, 2025 at 10:14AM

Investment Summary


Monthly Cash Flow
-$1,371
Cap Rate
2.7%
Cash-on-Cash Return
-13.0%
Debt Coverage Ratio
0.47
Internal Rate of Return (5 years)
-8.6%

Property Description


0.07 Acres Lot
Built in 2001
For Sale - Active
1 Units

This spacious 2,700 square foot townhome is tucked into one of North Raleigh's most popular neighborhoods, just steps from the Lake Lynn trail. Inside, you'll find hardwood floors, detailed trim, and a flexible front room that works well as a home office, dining room, or second living space. The kitchen has been fully updated with quartz counter tops, modern hardware, fresh lighting and plumbing fixtures, and stainless appliances. The main living area is open and inviting, centered around a classic brick fireplace with gas logs, and flows right out to a screened porch and deck surrounded by mature landscaping. The first-floor primary bedroom has great natural light, a tray ceiling, and a spacious bath with double vanities, a tiled walk-in shower, soaking tub, and a well-designed closet. Upstairs, there are two more bedrooms, a full bath, and a large bonus room that can flex as a media room, playroom, or guest space. With a finished two-car garage, great storage, and a true lock-and-go lifestyle, this is one of those rare listings that doesn't come up often, especially in this condition.

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Location


Property Details


Parking

  • Description: Garage, Garage Faces Front
  • Details: Garage, Garage Faces Front, Attached
  • Garage Spaces: 2
  • Spaces Total: 4

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 1
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 10
  • # of Stories: 2
  • Fireplace: Yes

Exterior Features

  • Foundation: Block, Brick/Mortar
  • Roof Material: Shingle

HOA

  • Has HOA: Yes
  • HOA Fee: $279/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Townhouse

Lot Information

  • Parcel ID: 0787.116643470281119
  • Lot Size: 3049 sqft

Property Information

  • Property Type: Townhouse
  • Style: Traditional, Transitional
  • Year Built: 2001

Tax Information

  • Annual Tax: $5,066

Utilities

  • Water & Sewer: Public
  • Heating: Central, Fireplace(s), Natural Gas
  • Cooling: Central Air, Dual

Location

  • County: Wake

Listing Details


Listed by:
Chad Ross
Hodge & Kittrell Sotheby's Int
(919) 270-5149

Source:
Triangle MLS (Doorify MLS)
MLS#: 10103633
Triangle MLS (Doorify MLS)

Investment Summary


Monthly Cash Flow
-$1,371
Cap Rate
2.7%
Cash-on-Cash Return
-13.0%
Debt Coverage Ratio
0.47
Internal Rate of Return (5 years)
-8.6%

Purchase Details

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Purchase price:
$549,900
Amount financed:
-$439,920
Down payment:
$109,980
Closing costs:
$16,497
Rehab costs:
$0
Initial cash invested:
$126,477
Square feet:
2,700
Cost per square foot:
$204
Monthly rent per square foot:
$1.04

Financing Details

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Loan amount:
$439,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$2,602
Property tax:
$422
Insurance:
$196
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,220

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,800 $33,600
Vacancy loss: (6%)
6% -$168 -$2,016
Operating income:
$2,632 $31,584

Operating Expenses


% Rent Monthly Yearly
Property taxes: (15%)
15%-$422-$5,066
Insurance: (7%)
7%-$196-$2,352
Property management: (8%)
8%-$224-$2,688
Repairs & maintenance: (5%)
5%-$140-$1,680
Capital expenditures: (5%)
5%-$140-$1,680
HOA fees: (10%)
10%-$279-$3,348
Total operating expenses: (50%)
50%-$1,401-$16,814

Cash Flow


Monthly Yearly
Net operating income:
$1,231 $14,772
Mortgage payments:
-$2,602 -$31,224
Cash flow:
$1,371 $16,452