700 Glascock Street, Raleigh, NC 27604
700 Glascock Street, Raleigh, NC 27604
700 Glascock Street, Raleigh, NC 27604
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Sean McFarlane

Sean McFarlane

+1(704) 661-4981
Listed by Compass -- Cary
$625,000
Est. payment /mo
8 Beds
2 Baths
1,777 SqFt
Save

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 1,777 sqft

Price per Sqft $351

Subdivision Capitol Heights

MLS Listing ID 10174326

Style House

Bedrooms 8

Full Baths 2

HOA Y/N No

Abv Grd Liv Area 1,777

Year Built 1950

Annual Tax Amount $4,258

Lot Size 9,583 Sqft

Acres 0.22

Property Sub-Type Single Family Residence

Source Triangle MLS

Property Description

Exceptional opportunity to acquire a cash-flowing asset in one of Raleigh's most desirable and rapidly evolving urban neighborhoods. Located at 700 Glascock Street, this income-producing property sits on a highly visible corner lot comprising approximately 0.22 acres and offers investors immediate returns alongside compelling long-term redevelopment potential. The property is zoned R-10 and positioned within one of Raleigh's most active redevelopment corridors. Surrounded by luxury new construction and high-end infill development, the site is ideally situated to benefit from continued neighborhood growth and increasing land values. Currently operating as an 8-room income-producing property generating approximately $62,700 in annual gross income ($5,225/month), the asset benefits from strong rental demand and flexible month-to-month occupancy agreements. The property has been well maintained and improved, with major updates already completed, including a new roof in 2023; HVAC systems installed in 2019; furnaces replaced in 2018 and 2019; a hot water heater installed in 2019; updated bathrooms and kitchen cabinetry in 2023; new windows installed in 2024 and 2025; new gutters in 2025; and fresh interior and exterior paint completed in 2025. Public water and sewer service, along with approximately 10 off-street parking spaces, further enhance the property's functionality and appeal. Beyond the property's income potential, the location offers the highly desirable lifestyle amenities driving demand throughout Downtown Raleigh's urban core. Residents are close to a growing collection of restaurants, retail destinations, and neighborhood gathering spots while enjoying convenient access to Oakwood Park, Gateway Plaza, area schools, greenway trails, and public transit. A nearby dog park and numerous recreational amenities further enhance the area's appeal. The combination of connectivity, and the city's sought-after "live, work, play" lifestyle makes this location particularly attractive to both tenants and long-term investors. Whether pursuing stable cash flow, a value-add investment strategy, land banking, or future redevelopment, 700 Glascock Street offers multiple paths to value creation in one of Raleigh's strongest growth markets. Opportunities combining current income, corner-lot positioning, and proximity to Downtown Raleigh are increasingly difficult to find.

Location

State NC

County Wake

Zoning R-10

Rooms

Basement Crawl Space, Unfinished

Interior

Heating Heat Pump, None

Cooling Central Air, Electric

Flooring Vinyl, Tile, Wood

Fireplace No

Appliance Electric Range, Refrigerator, Washer/Dryer

Laundry Common Area

Exterior

View Y/N Yes

Roof Type Shingle

Street Surface Paved

Private Pool No

Building

Lot Description Corner Lot

Story 1

Sewer Public Sewer

Water Public

Level or Stories 1

Structure Type Unknown

New Construction No

Schools

Elementary Schools Wake - Conn Elementary

Middle Schools Wake - Ligon Middle

High Schools Wake - William G Enloe High

Others

Senior Community No

Tax ID 171413230654000 0042639

Special Listing Condition Standard

Read Less Info
Doorify MLS / Triangle MLS

Nearby Locations

GET MORE INFORMATION

Sean McFarlane

Sean McFarlane

+1(704) 661-4981

Agent | License ID: 300138

Agent License ID: 300138

Name

Name

Phone*

Phone

Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from Sean McFarlane, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.