Map
Listed price in listed location currency (USD).
$4,950,000

324032

MLS® 10190772

Overview

Key Facts

Type Apartment
Levels Residential Income
Size 13600 sqft
Garage Yes
Maintenance Fees 
Taxes $2,273
Days Active 0
Approx. Age 2026
Avg. Price Per Sqft $363
MLS® Number 10190772

Property Address: 4204 Reavis Rd, Raleigh, NC, 27606-1441

Average square foot calculated using Size range provided by listing agent.

Description

Newly constructed student housing investment opportunity adjacent to NC State. Eight@State consists of eight purpose-built 4-bedroom, 4.5-bath townhomes (32 beds total) designed for strong student rental demand, with private bathrooms for every bedroom, attached garages, modern finishes, stainless steel appliances, in-unit washer/dryer, and low-maintenance construction. The property is already 50% leased for the 2026-2027 academic year, including three student leases and one developer-leased model home, providing immediate leasing momentum while allowing investors to complete lease-up ahead of the school year. Offered at $4, 950, 000, the asset is projected to achieve a 6.0% cap rate based on current market rental expectations of approximately $950 per bedroom per month. Located just minutes from NC State University with convenient access to Downtown Raleigh, I-440, shopping, dining, and public transit, Eight@State offers investors the opportunity to acquire a newly delivered, institutional-quality student housing asset with minimal deferred maintenance and significant long-term rental demand.34
MLS® Number10190772
Locker
Ensuite LaundryYes
Balcony
Furnished
Laundry LevelEnsuite
Exposure
Exterior
GarageYes
Approx. Age2026
Stories
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

HeatHeat Pump
A/CCentral Air

Extras

Price History

Last Sold Price

$800,000$800K

Appreciation

+79.8%

Avg. Days Listed

51 days

Today, For Sale for $4,950,000

Screenshot 2026-09-04 at 10.37.31AM
For Sale · 0 days

$4,950,000

MLS® 10190772

A day ago

Not Sold Yet

September 2026, For Sale for $4,950,000

Screenshot 2026-09-04 at 10.37.31AM
For Sale · 0 days

$4,950,000

MLS® 10190772

A day ago

Not Sold Yet

March 2025, Sold for $800,000

Sold · 0 days

$800,000

MLS® 10082094

2 years ago

Sold on Mar 4, 2025

February 2024, Sold for $445,000

Sold · 102 days

$445,000$495,000

MLS® 2541313

3 years ago

Sold on Feb 18, 2024

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