For sale

$625,000

1511 Joe Louis Ave, Raleigh, NC 27610

4beds

1,352sqft

Est.:

Duplex, Multi Family

Built in 1983

-- sqft lot

$609,100 Zestimate^®

$462/sqft

$-- HOA

What's special

Amazing opportunity to own a rental property with development potential in downtown Raleigh. The property is currently improved with 2 bedroom/1 bathroom duplex units and are tenant occupied, providing immediate rental income with future redevelopment possibilities. Ideal for developers seeking flexibility for higher density residential development, including duplexes, townhomes, or multifamily projects (buyer to confirm zoning, density, and permitted uses). Strong surrounding growth, with proximity to dining, entertainment, employment centers, and major roadways, making this a highly desirable location. The adjacent property, 600 Sherrybrook Dr., is also available for purchase; if acquired together, the two parcels total approximately 0.41 acres with R-10 zoning. Buyer to confirm square footage. Listing agent has not been inside the units.

38 days

306

11

Tour with a local agent

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 4
Bathrooms: 2
Full bathrooms: 2

Heating

Baseboard, Electric

Cooling

Window Unit(s)

Appliances

Included: Dryer, Range, Refrigerator, Washer
Laundry: In Unit

Features

Flooring: See Remarks

Interior area

Total structure area: 1,352
Total interior livable area: 1,352 sqft
Finished area above ground: 1,352
Finished area below ground: 0

Property

Parking

Total spaces: 4
Parking features: Driveway
Uncovered spaces: 4

Features

Levels: One
Stories: 1
Has view: Yes

Lot

Size: 9,147.6 Square Feet

Details

Parcel number: 171310357636000 0121771
Zoning: R-10

Construction

Type & style

Home type: MultiFamily
Property subtype: Duplex, Multi Family

Materials

Masonite
Roof: Composition

Condition

New construction: No
Year built: 1983

Utilities & green energy

Sewer: Public Sewer
Water: Public

Community & HOA

Community

Subdivision: Joe Louis Park

HOA

Has HOA: No

Location

Region: Raleigh

Financial & listing details

Price per square foot: $462/sqft
Tax assessed value: $246,376
Annual tax amount: $2,188
Date on market: 1/14/2026
Lease term: 3 To 6 Months
Road surface type: Paved

Estimated market value

$609,100

$579,000 - $640,000

$1,779/mo

Price history

Date	Event	Price
1/14/2026	Listed for sale	$625,000+260.2%$462/sqft
Source: Doorify MLS #10141059 Report a problem
6/24/2019	Sold	$173,500+62.1%$128/sqft
Source: Public Record Report a problem
11/10/2005	Sold	$107,000+17.6%$79/sqft
Source: Public Record Report a problem
1/28/2004	Sold	$91,000$67/sqft
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$2,189 +0.4%	$246,376
2024	$2,180 +4.8%	$246,376 +31.6%
2023	$2,080 +7.5%	$187,184
2022	$1,935 +4%	$187,184
2021	$1,861 +1.8%	$187,184
2020	$1,828 +43.1%	$187,184 +75.3%
2019	$1,278	$106,782
2018	$1,278 +11%	$106,782
2017	$1,151 +2%	$106,782
2016	$1,128 -8.7%	$106,782 -7.5%
2015	$1,236 +5.3%	$115,498
2014	$1,174	$115,498
2013	--	$115,498
2012	--	$115,498
2011	--	$115,498
2010	--	$115,498
2009	--	$115,498
2008	--	--
2007	--	--
2006	--	--
2005	--	--
2004	--	--
2003	--	--
2002	--	--
2001	--	--