128 Rainbow Ct, Cary, NC 27511
Property image
Property image
FOR SALE
0.39 ACRES

128 Rainbow Ct
Cary, NC 27511

  • 5 Beds
  • 3 Baths
  • 2,624 sqft (on 0.39 acres)

$622,500

Est. Mortgage $3,566/mo*

$622,500

Est. Mortgage $3,566/mo*
5 Beds
3 Baths
2,624 sqft
(on 0.39 acres)
We estimate this home will sell faster than 89% nearby.

Local Information

  • Map ViewExplore the area around 128 Rainbow Ct.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Description

Exceptional investment opportunity in the heart of Cary. 128 & 130 Rainbow Court offers a well-maintained duplex just minutes from Downtown Cary, providing investors with immediate cash flow and long-term upside in one of the Triangle's most sought-after locations. Both units are currently leased, with leases in place through March 2027 and June 2027, creating stable, predictable income from day one. The property features two spacious residences with private entrances, dedicated parking, and strong rental appeal driven by the area's continued growth and demand. Located less than two miles from Downtown Cary Park, residents enjoy easy access to award-winning restaurants, local breweries, shopping, entertainment, and community events. The property is also conveniently located near Fenton, WakeMed Soccer Park, major employment centers, and commuter routes including US-1, I-40, and NC-540. Whether you're looking to expand your portfolio with a turnkey asset or secure a long-term hold in a premier Cary location, 128 & 130 Rainbow Court presents a rare opportunity to acquire an income-producing property with established tenants and excellent proximity to everything Cary has to offer.
We estimate this home will sell faster than 89% nearby.

Home Highlights

Parking
4 Open Spaces
Outdoor
No Info
A/C
Heating & Cooling
HOA
None
Price/Sqft
$237
Listed
18 days ago

Home Details for 128 Rainbow Ct

Interior Features

Beds & Baths
Number of Bedrooms: 5Number of Bathrooms: 4Number of Bathrooms (full): 2Number of Bathrooms (half): 2
Dimensions and Layout
Living Area: 2624 Square Feet
Heating & Cooling
Heating: Central, NoneHas CoolingAir Conditioning: Central AirHas HeatingHeating Fuel: Central
Windows, Doors, Floors & Walls
Flooring: Carpet, Linoleum, VinylCommon Walls: 1 Common Wall
Levels, Entrance, & Accessibility
Stories: 2Levels: TwoFloors: Carpet, Linoleum, Vinyl
View
Has a View

Exterior Features

Exterior Home Features
Roof: ShingleNo Private Pool
Parking & Garage
Open Parking Spaces: 4No Attached GarageHas Open ParkingParking Spaces: 4Parking: On Site
Frontage
Not on Waterfront
Water & Sewer
Sewer: Public Sewer
Finished Area
Finished Area (above surface): 2624 Square Feet

Days on Market

Days on Market: 18

Property Information

Year Built
Year Built: 1973
Property Type / Style
Property Type: Residential IncomeProperty Subtype: Duplex, Multi FamilyStructure Type: DuplexArchitecture: Duplex
Building
Construction Materials: Brick, Wood SidingNot a New Construction
Property Information
Parcel Number: 0764814829

Price & Status

Price
List Price: $622,500Price Per Sqft: $237

Active Status

MLS Status: Active

Location

Direction & Address
City: CaryCommunity: Rainbow Estates
School Information
Elementary School: Wake - Cary ElementaryJr High / Middle School: Wake - East Cary MiddleHigh School: Wake - Cary High

Agent Information

Listing Agent
Listing ID: 10177740

Building

Building Area
Building Area: 2624 Square Feet

HOA

No HOA

Lot Information

Lot Area: 0.39 acres

Listing Info

Special Conditions: Seller Licensed Real Estate Professional, Standard

Miscellaneous

Mls Number: 10177740Above Grade Unfinished Area: 2624

Additional Information

Source Internet Entire Listing Display
Last check for updates: about 22 hours ago
Listing courtesy of Annette Holt, (919) 810-2203
Compass -- Cary
Davis Holt, (919) 810-2188
Compass -- Cary
Source: Doorify MLS, MLS#10177740
Also Listed on Doorify MLS.

Market trends in Cary

Last updated June 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$600K
$28.33K
MoM
Sale-to-List Price
99.7%
0.4%
MoM
Price per sq ft
$260
$3
MoM
Available listings
601
33
MoM

Price History for 128 Rainbow Ct

DatePriceEventSource
07/02/2026$622,500Listed For SaleDoorify MLS #10177740
05/17/1984$82,000Sold
N/A

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Property Tax and Assessment

Year2025
Tax$5,251
Assessment$607,941
Home facts updated by county records

Comparable Sales for 128 Rainbow Ct

Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
0.10
Multi-Family Home
$615,000
06/22/26
2
2.5
2,456
0.52
Multi-Family Home
$585,000
05/22/26
4
3
2,850
0.52
Multi-Family Home
$580,000
07/14/26
4
2
1,952
0.57
Multi-Family Home
$483,120
05/01/26
4
5
2,150
0.51
Multi-Family Home
$385,000
11/21/25
2
2
1,400
0.94
Multi-Family Home
$700,000
02/18/26
2
1.5
978
1.68
Multi-Family Home
$507,500
08/22/25
4
3
2,186

Nearby homes

Get a sense of prices in the area by checking nearby homes.
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Assigned Schools

These are the assigned schools for 128 Rainbow Ct.
The GreatSchools Rating compares schools on a variety of school quality indicators including test scores, college readiness, equity and more. Learn more.

What Locals Say about Cary

At least 1154 Trulia users voted on each feature.
  • 93 % Say it's dog friendly

  • 87 % Say car is needed

  • 84 % Say parking is easy

  • 79 % Say there are sidewalks

  • 77 % Say people would walk alone at night

  • 76 % Say it's quiet

  • 76 % Say there's holiday spirit

  • 73 % Say kids play outside

  • 72 % Say streets are well-lit

  • 64 % Say yards are well-kept

  • 58 % Say it's walkable to grocery stores

  • 55 % Say neighbors are friendly

  • 52 % Say it's walkable to restaurants

  • 51 % Say they plan to stay for at least 5 years

  • 49 % Say there's wildlife

  • 39 % Say there are community events

Sourced by Trulia users. Learn more about our methodology.
  • Glope005
    "Lochmere Highlands is a clean, safe and well-established neighborhood perfect for families of all ages."
  • Trulia User
    "I’ve lived here for 7 months it’s quiet and convenient to I-40 , I-540 RDU,Raleigh, Durham friendly people "
  • Trulia User
    "My commute to offices, schools, hospitals, doctors, grocery stores, dentists, restaurants is very convenient from this community. Walking distance to all these except the hospital. A good trail for outdoor walk. "
  • Bob Smith
    "Traffic is light and the commute to downtown Raleigh is fairly easy and accessible. In Cary, there are numerous things to do and downtown Cary is a must see. "
  • Emmett Lichtenberger
    "It’s a great place for anyone to live in really, from families to singles. There’s something for everyone."
  • Unspecified
    "Cary Night Market. One Friday every month from March thru December Except in July. I simply love Cary and its vibe."
  • renee raiteri
    "There is access to public transportation, its a quiet peaceful area FILLED with great public parks, & lakes & miles and miles of trails! "
  • Clarkrichard.abrahams
    "Zoned for top rated public schools! Community has a pool, playground, a beautiful 2.5 acre pond that just had extensive renovations. Location is near several markets, drug stores, and dental/medical facilities, with a full hospital planned for completion in 4 years. Very diverse area with many families with children."
  • E.C.
    "Town of Cary events (especially youth and adult sports) help bring the community together through recreational sports and activities. All of the facilities and programming are top-notch."
  • Hayriye Aydin
    "Very friendly and welcoming for new comers. You feel safe and comfortable in your home. And neighbors are so nice and supportive "
  • Randy Arias
    "It is a lovely town and you feel secure living here. People are kind and nice. Everything is near and you can find a lot of stores"
  • Trulia User
    "Lot of dogs being walked around this community, everyone is friendly as well. Feel pretty safe around here as well. "
  • Sharon S
    "You’ll see people walking their dogs, and there are pickup stations throughout the neighborhood. All the neighbors use leashes and are friendly."
  • Clarkrichard.abrahams
    "There are many families with babies and toddlers. We are zoned for great public schools. We have a pool and playground. People are friendly!"
  • Momma
    "decent schools but still have the die amd GSR issues to be solved. good sports. good music and arts in area.,great parks. guess that is why it called the Containment Area for Relocated Yankees!"
  • Jennifer Blankenship
    "What is important is that Panthers Creek School has been capped for 4 years now which means your kids have to be bused off to school further away."
  • Jennifer Blankenship
    "My Husband was promoted to a different position with the bonus of having to move our entire family household. We have 1 Dog, 2 Cats, 5 Adult Children with the ages being between 29 years old to our youngest being 21 years old with our first Grandchild.The Neighborhood has a large range of houses for everyone budget."
  • Trulia User
    "The neighborhood is nice not a lot of stuff happens here and plus the state fair Is like 15 min from here"
  • Jennifer Blankenship
    "It is a nice neighborhood but the local schools for the actual neighborhood has been capped for 4 years. In order for your kids to go too a school they are bused out at least 10-15 minutes away."
  • Sophiembl63
    "My commute is very quick and easy access to everything. Traffic is light…Close to everything- 15-20 minutes from Apex/Raleigh/Durham. Love living here!"
  • Cream1
    "Cary is a safe town. "
  • Sarahbousquet
    "Very dog friendly town. We can walk to Bond Park and we always see people walking dogs every day in our neighborhood and into Bond. It’s cute to see so many dogs playing around the lake, running around the big field, trotting through walking trails. "
  • Pastorbobv
    "Beautiful, mature, trees and very well kept homes. Homes feel like they are in the forest. There are a lot of flowering shrubs throughout. "
  • Clarkrichard.abrahams
    "Neighborhood is a mile or less from 4 supermarkets, two pharmacies, and shopping center. Doctors and health clinics are less than 2 miles away."
  • MikeG
    "There are occasional events in the neighborhood, but the Town of Cary puts on a lot of events at the local lakes and parks."
  • Nytpdvcpvv
    "Bond lake events, Downtown Cary, Neighborhood food trucks, swim meets, neighborhood get togethers, events at Cary schools."
  • Bob Smith
    "My neighborhood is close to downtown Cary and public transportation. Raleigh is a 15 minute drive and close to interstate 40. "
  • Gemimah Kerner
    "I live here for 23 years and I love it, is very close to everything, it is safe and beautiful. I riese my daughter here. This town cares about citizzens"
  • Crystelle Douglas
    "Not all areas have sidewalks or streets large enough to feel safe on the side of the road. Would be nice."
  • Direct.to
    "Location and approach to everything, shopping, pharmacy, doctors office, RTP and the airport. Close to everything and yet quite "
  • Sara E. A.
    "I love Cary, if feels like home, overall it is super safe and neighbors are super friendly and respectful, streets are clean and the greenways makes it even more fun and enjoyable to live here."
  • Rachael R.
    "Lots of dogs! . People walk them on the greenway. Owners are usually very friendly. I will really miss this neighborhood when I move. "
  • Chelsea H.
    "I have lived in Cary for 11 years and really appreciate how beautiful and well maintained it is. It is a great place to live, go for walks, and enjoy parks."
  • Brandonlpoteat
    "They would love everything about it. It’s very dog friendly. Lots of places to walk and dog waste areas. "
  • Clarkrichard.abrahams
    "Varies throughout the year - plenty of opportunities to get to know your neighbors. Also neighborhood spring yard sale annually, ice cream social at pool house in summer, fall neighborhood band and food truck (free tickets) at clubhouse,winter holiday weekend lunch event."
  • Christie W.
    "Not a ton of sidewalks but the streets are pretty low traffic. Lots of dogs so if your dog doesn’t like other dogs I would walk at least frequently traveled times. "
  • Anna J.
    "people walk their did all the time. perfect area for nice long dog walks. sidewalks. okkkkuuuurrrrrrrrrrrr"
  • Erin B. T.
    "Neighborhood parties every month. We also have impromptu get together when walking the dogs. Annual Christmas party, etc. "
  • Politicsasusual
    "Community Fairs for all ages , trick or trick is a big community event for kids as well as adults. The community really lights up during Halloween . And it’s always safe nothing gets out of hand which embodies the community spirit "
  • Paul V.
    "Arts and crafts festivals like spring daze in bond park and lazy daze in downtown Cary. Chinese lantern festival at koko booth theater. "

LGBTQ Local Legal Protections

Annette Holt, Compass -- Cary
Agent Phone: (919) 810-2203
The MLS listing information displayed is deemed reliable, but is not guaranteed accurate by the MLS.
Copyright 2026 Doorify MLS of North Carolina. All rights reserved.
128 Rainbow Ct, Cary, NC 27511 is a 5 bedroom, 4 bathroom, 2,624 sqft multi-family built in 1973. This property is currently available for sale and was listed by Doorify MLS on Jul 2, 2026. The MLS # for this home is MLS# 10177740.