5124 Melbourne Rd, Raleigh, NC 27606
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Property image
OFF MARKET

5124 Melbourne Rd
Raleigh, NC 27606

West Raleigh
  • 5 Beds
  • 2 Baths
  • 2,417 sqft (on 0.31 acres)

$577,000

Trulia Estimate
as of Jul 5, 2026
Est. Refi. Payment $3,283/mo*
Refinance Your Home

$577,000

Trulia Estimate
as of Jul 5, 2026
Est. Refi. Payment $3,283/mo*
Refinance Your Home
5 Beds
2 Baths
2,417 sqft
(on 0.31 acres)

Local Information

  • Map ViewExplore the area around 5124 Melbourne Rd.
  • Schools1 Preschool School1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

Description

Incredible investment opportunity in desirable Cardinal Hills/NC State area. Cash flowing, stabilized property with leases in place through 6/30/2026. This thoughtfully updated 5 bedroom, 2 bathroom home is located on a large, fenced 0.31 acre lot. Single lease in effect - Not individual. 7/1/24 - 6/30/25 Lease at $5,000/month. 7/1/25 - 6/30/26 Lease at $5,000/month. Extremely turnkey property with designer finishes and sleek new appliances. Improvements in 2023 include: New roof, updated kitchen, 2 full bathroom renovations, premium crawlspace encapsulation, Rheem tankless hot water heater, refinished hardwoods, and new concrete driveway. 3 bedrooms are located on the main level with 2 additional bedrooms located on the second floor. Two separate front entrances, interior spiral staircase, and second floor loft provide tenants with maximum living flexibility and privacy. Close proximity to NC State and 440. Appliances and Washer/Dryer convey. This investment property is As-Is and ready to go! Buyers & Buyers Agents, please reach out to Listing Agent for all property disclosures and full list of upgrades.
5124 Melbourne Rd, Raleigh, NC 27606 is a 5 bedroom, 2 bathroom, 2,417 sqft multi-family in West Raleigh, built in 1958. It last sold for $590,000 on Feb 24, 2025 (7% below the $635,000 asking price). More recently, it was listed as a rental in March 2023 with an asking price of $3,800 per month. That rental listing was removed on April 21, 2023. It is currently off market. The Trulia Estimate is $577,000, with a rent estimate of $1,590/month.

Home Highlights

Parking
4 Open Spaces
Outdoor
Porch, Patio, Deck
A/C
Heating & Cooling
HOA
None
Price/Sqft
No Info
Listed
180+ days ago

Home Details for 5124 Melbourne Rd

Interior Features

Beds & Baths
Number of Bedrooms: 5Number of Bathrooms: 2Number of Bathrooms (full): 2
Dimensions and Layout
Living Area: 2417 Square Feet
Appliances & Utilities
Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water ConnectedAppliances: Dishwasher, Disposal, Gas Range, Microwave, Oven, Range, Refrigerator, Washer/Dryer StackedDishwasherDisposalLaundry: Main LevelMicrowaveRefrigerator
Heating & Cooling
Heating: Baseboard, CentralHas CoolingAir Conditioning: Ceiling Fan(s), Central AirHas HeatingHeating Fuel: Baseboard
Fireplace & Spa
Number of Fireplaces: 1Fireplace: Family Room, MasonryHas a FireplaceNo Spa
Windows, Doors, Floors & Walls
Flooring: Hardwood, Tile
Levels, Entrance, & Accessibility
Stories: 2Levels: Multi/Split, TwoFloors: Hardwood, Tile
View
Has a View

Exterior Features

Exterior Home Features
Roof: ShinglePatio / Porch: Covered, Deck, Patio, PorchFencing: NoneExterior: Rain GuttersFoundation: Brick/Mortar, SlabNo Private Pool
Parking & Garage
Open Parking Spaces: 4No Attached GarageHas Open ParkingParking Spaces: 4Parking: Concrete,Driveway
Frontage
Road Frontage: City StreetNot on Waterfront
Water & Sewer
Sewer: Public Sewer
Finished Area
Finished Area (above surface): 2417 Square Feet

Property Information

Year Built
Year Built: 1958
Property Type / Style
Property Type: Residential IncomeProperty Subtype: Single Family Residence, Multi FamilyStructure Type: HouseArchitecture: Cape Cod
Building
Building: Shared UtilitiesConstruction Materials: Brick, Vinyl SidingNot a New Construction
Property Information
Parcel Number: 0783583167

Price & Status

Price
List Price: $635,000

Active Status

MLS Status: Closed

Location

Direction & Address
City: RaleighCommunity: Cardinal Hills
School Information
Elementary School: Wake - AdamsJr High / Middle School: Wake - Lufkin RoadHigh School: Wake - Athens Dr

Building

Building Area
Building Area: 2417 Square Feet

Community

Not Senior Community

HOA

No HOA

Lot Information

Lot Area: 0.31 acres

Listing Info

Special Conditions: Standard

Miscellaneous

Mls Number: 10068373Above Grade Unfinished Area: 2417

Additional Information

HOA Amenities: None
Last check for updates: about 15 hours ago
Listed by Ben Davis, (919) 356-6881
DAVIS REALTY AND DEVELOPMENT C
Elizabeth Ann Jordan, (919) 308-2337
DAVIS REALTY AND DEVELOPMENT C
Bought with: Darlene Zeitler, (919) 306-6339, O'Meara Realty Group Inc.
Source: Doorify MLS, MLS#10068373

Price History for 5124 Melbourne Rd

DatePriceEventSource
02/24/2025$590,000Sold
Doorify MLS #10068373
01/11/2025$635,000PendingDoorify MLS #10068373
12/27/2024$635,000Listed For SaleDoorify MLS #10068373
04/21/2023ListingRemovedZillow Rentals
03/31/2023$385,000Sold
Doorify MLS #2497168
03/31/2023$3,800Listed For RentZillow Rentals
03/07/2023$360,000ContingentDoorify MLS #2497168
03/01/2023$360,000Listed For SaleDoorify MLS #2497168

Market trends in West Raleigh

Last updated May 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$369K
$51.67KMoM
Sale-to-List Price
99.1%
Price per sq ft
$228
$4MoM
Available listings
105
1MoM
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Property Tax and Assessment

Year2025
Tax$3,453
Assessment$393,695
Home facts updated by county records

Comparable Sales for 5124 Melbourne Rd

Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
103 Gary St, Raleigh, NC
0.95
Multi-Family Home
$300,000
04/28/26
3
2
1,363
4100 Reavis Rd, Raleigh, NC
1.15
Multi-Family Home
$755,000
01/16/26
3
3
1,741
1405 Highview Ct, Raleigh, NC
1.42
Multi-Family Home
$648,500
08/01/25
6
4.5
2,899
1010 Sandlin Pl #A, Raleigh, NC
0.48
Multi-Family Home
$140,000
01/29/26
2
1.5
944
125 Karen Ct #127, Cary, NC
2.06
Multi-Family Home
$515,000
12/03/25
6
5
2,546
2216 Lawrence Dr, Raleigh, NC
2.77
Multi-Family Home
$410,000
07/10/25
3
2
1,487
206 Ashe Ave, Raleigh, NC
3.00
Multi-Family Home
$1,228,000
06/26/26
6
2
2,610

Nearby homes

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Assigned Schools

These are the assigned schools for 5124 Melbourne Rd.
View nearby schools on GreatSchools
The GreatSchools Rating compares schools on a variety of school quality indicators including test scores, college readiness, equity and more. Learn more.

Neighborhood Overview

West Raleigh
See Local Highlights
Neighborhood stats provided by third party data sources.

What Locals Say about West Raleigh

At least 270 Trulia users voted on each feature.

  • 88 % Say car is needed

  • 88 % Say it's dog friendly

  • 79 % Say parking is easy

  • 75 % Say there are sidewalks

  • 64 % Say there's holiday spirit

  • 56 % Say people would walk alone at night

  • 55 % Say streets are well-lit

  • 55 % Say it's quiet

  • 54 % Say kids play outside

  • 49 % Say yards are well-kept

  • 41 % Say neighbors are friendly

  • 39 % Say it's walkable to grocery stores

  • 39 % Say there's wildlife

  • 38 % Say they plan to stay for at least 5 years

  • 33 % Say it's walkable to restaurants

  • 22 % Say there are community events

Sourced by Trulia users. Learn more about our methodology.
  • Jonathan Rynders
    "It’s very safe and schools are 4 and 5 stars. Kids pay outside all the time with out supervision. Beautiful area"
    0
    Flag
  • Phillip Ulibarri
    "Great for Access to a few freeways it a short amount of time and space in either direction. Airport is not to bad either"
    0
    Flag
  • Phillip Ulibarri
    "We have nice neighbors and people here watch out for the kids in the area. There is also a park nearby for the kids to play at. "
    0
    Flag
  • Pda.iel05
    "Drive and bus walk to the gas station. Firer department near by college traffic lights nearby highway. Nearby post office nearby lake and parks nearby car wash "
    2
    Flag
  • Bo Burgett
    "Just visiting & it’s nice the neighbors are friendly and the area & surrounding areas are well kept. "
    1
    Flag
  • 7gr8spxbkq
    "Several people own dogs in my complex. While most accommodate others, some will just stand there letting their dogs bark."
    3
    Flag
  • Trulia User
    "I’ve lived here for a few years, in multiple close locations as well, and it’s a convenient location for the taking the wolfline, walking, or biking to NC State. "
    5
    Flag
  • Trulia User
    "I've lived here for 4yrs Love this location, near to everything Downtown Raleigh & Cary.. Great place to live. "
    9
    Flag
  • Trulia User
    "There is many parks to enjoy and use to exercise with the family , and have grate school, safe ."
    1
    Flag
  • Trulia User
    "Neighbors are friendly and everyone looks out for each other. Had to go out of town on trash day. Returned home and my empty bins are moved back to the side of my house. "
    8
    Flag
  • Trulia User
    "there are a lot of families with children. many parks and green spaces to take the kids and enjoy the great outdoors. Shelly lake is a very popular place to be. "
    1
    Flag
  • Trulia User
    "I feel safe here thus far. it's clean and friendly. I would definitely recommend living here. especially by the Parke at Trinity. "
    0
    Flag
  • Trulia User
    "Perfect location for quick highway access. Everything essential is within a 20 minute ride. Traffic is the most annoying part "
    0
    Flag
  • Trulia User
    "It is beautiful place to live Lakes view and quite neighborhood, if u want to move in Raleigh welcome west Raleigh u won’t regret your choice "
    0
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  • Kyannasumpter
    "I would describe my neighborhood as Convenient. It is close to campus, downtown, and many shopping centers. "
    1
    Flag
  • Jonah S.
    "busy growing area for families students or young single individuals eager to get involved in the workforce. "
    2
    Flag
  • Amanda T.
    "Easy peezy because everything is 10-15 mins away that I could possibly want or need to do. The side streets are bare so traffic is a breeze. Love it!"
    2
    Flag
  • Mario W.
    "Great aera to live in...getting kind of pricey with all the new const in the area .. Would recommend "
    2
    Flag
  • Tracey R.
    "Mostly just apartment complexes in this area. Not a homey feeling ! Traffic in the morning and night . "
    5
    Flag
  • Jason.r.rasmussen
    "Great access to 40 and 440 however these major roads are quite congested during peak periods. Commute to RTP can take over an hour on some days even though it is only 16 miles."
    2
    Flag
  • Stacey D.
    "There are many people walking dogs in my neighborhood I think it’s great. I hope to stay here and raise my family."
    3
    Flag
  • Ferket
    "Lake Johnson concerts and activities, and Athens High school events. Downtown Raleigh concerts are nearby. "
    0
    Flag
  • Jeanscene46
    "Nice neighbors and quiet. Close to middle and high school. Clean community with nice landscapes and park area. "
    28
    Flag
  • Fleadogs
    "It's a little Oasis of trees and larger lots with older homes yet inside the beltline. Compared to other parts of Raleigh it's still very affordable. "
    28
    Flag
  • Ivette G.
    "Know who you live around, know who can be trustworthy... even if you do, never leave your kids out alone by themselves after dark. It’s a safety thing. Know your area of living in general."
    2
    Flag
  • Angela G.
    "I’m not sure I’m just here temporarily, I know It’s right on the Raleigh/Cary border and it’s pretty quiet for the most part."
    1
    Flag
  • Juliocrass1
    "Neighbors are the best, street is calm and nice, not a lot o f houses on my street, love to walk around"
    21
    Flag
  • Katie D.
    "Lot size and location is excellent and convenient to Raleigh. NW raleigh has great schools and close to airport. "
    6
    Flag

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Homes for sale near 5124 Melbourne Rd

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Off Market Homes Near 5124 Melbourne Rd

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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.