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5509 Old Stage Rd, Raleigh, NC 27603
DETAILS
Type: Single Family / Development Land Play
Bedrooms / Baths: 5 bed / 3.5 bath
Living Area: 5,323 sf
Year Built: 1959
Lot Size: 200,812 sf / 4.61 acres
Garage: 4-car detached, 800 sq ft
Asking Price: $880,000
AC replaced in 2023 and roof replaced in 2024; the property sits in a Low Risk flood zone, carries a tax value of $691,258 with annual taxes of $4,441 (Parcel ID 1701.17-21-3311-000, zoned R2 ). Best positioned as a development play rather than a straight fix-and-flip — at just under 5 acres, this parcel could potentially be developed for additional single-family homes or multifamily, subject to rezoning and county approval.
COMPARABLE SALES (For Context — Not Direct Comps)
1709 Clifford Rd, Garner, NC 27529 — 5.16 acres, rezoned R-4, approved site plan for 14 single-family homes — reported sold $1,050,000, April 2026 (subject has 4.61 acres for comparison)
4908 Birchleaf Dr, Raleigh, NC 27606 — 5,403 sf, 4bd/7ba, built 2022, 168,577 sf lot (3.87 acres) — reported sold $2,400,000, July 2026
5638 Fayetteville Rd, Raleigh, NC 27603 — 868 sf, 2bd/2ba, built 1958, 87,210 sf lot, fronts major road — reported sold $675,000, June 2026
Note: These are provided as market context for the surrounding land/development landscape rather than direct apples-to-apples comps, given the subject’s unique combination of acreage and existing structure.
OVERVIEW
5509 Old Stage Rd offers 4.61 acres in South Raleigh, with real development possibility for additional single-family homes or multifamily, subject to rezoning and county approval. For comparison, a nearby 5.16-acre parcel (1709 Clifford Rd, Garner) was rezoned and approved for a 14-lot single-family subdivision. With a 1959-built 5 bed/3.5 bath home already on-site (newer AC and roof), a 4-car detached garage, and proximity to the fast-growing Garner/South Raleigh corridor, this parcel offers flexibility for a buyer to renovate and hold, or pursue development. Raleigh and Wake County continue to rank among the fastest-growing markets in the country.
DISCLAIMER — Please Read Before Submitting an Offer
Assignment of Contract
This is an assignment of contract. A legally binding purchase agreement with a memorandum has been executed with the Seller, granting this company exclusive rights to purchase the property. We are not brokers or realtors and are not representing ourselves as such. We do not represent the owner.
Do not contact the Seller directly. Any attempt to contact the owner, interfere with, or circumvent our active contract will result in legal action. This property is not to be re-marketed under any circumstances without our explicit written consent and the execution of a joint venture agreement.
Due Diligence
Buyers are responsible for performing their own due diligence. We are not licensed agents. Please consult appropriate legal or professional counsel before submitting an offer.
Offer & Deposit Terms
A minimum $5,000 non-refundable deposit is required within 24 hours of signing to secure the deal. Closing will occur as quickly as possible, but no longer than 30 calendar days. Buyer pays all closing costs — closing costs are NOT included in the asking price. Taxes will be prorated and split between parties. $495 transaction fee payable to Bright Home Offer LLC. Closing will be conducted with our closing attorney.
As-Is Terms
This property is offered as-is, where-is, with no warranties. By submitting an offer, you are accepting these terms.
No repairs or improvements will be made prior to closing. No clean-out or clean-up of any kind will be completed. Property will not be broom clean at closing.
Realtors & Wholesalers
If you are working with a client and wish to receive a commission or fee, please note that the wholesale price does not include your compensation. You may either negotiate your commission/fee directly with your client, separate from the wholesale price, or adjust the wholesale price upward to include your fee. If you’d like to be compensated by us at or outside of closing, please reach out or include those terms in your offer.