128 Rainbow Court, Cary, NC 27511 - Photo 1

1/1

$617,500

Sold
Closed
Duplex
5 Beds
2 Full Baths
2 Partial Baths
2,624 Sq. Ft.
0.39 Acres
Updated 9 hours ago

1/1

Property Description

Exceptional investment opportunity in the heart of Cary. 128 & 130 Rainbow Court offers a well-maintained duplex just minutes from Downtown Cary, providing investors with immediate cash flow and long-term upside in one of the Triangle's most sought-after locations. Both units are currently leased, with leases in place through March 2027 and June 2027, creating stable, predictable income from day one. The property features two spacious residences with private entrances, dedicated parking, and strong rental appeal driven by the area's continued growth and demand. Located less than two miles from Downtown Cary Park, residents enjoy easy access to award-winning restaurants, local breweries, shopping, entertainment, and community events. The property is also conveniently located near Fenton, WakeMed Soccer Park, major employment centers, and commuter routes including US-1, I-40, and NC-540. Whether you're looking to expand your portfolio with a turnkey asset or secure a long-term hold in a premier Cary location, 128 & 130 Rainbow Court presents a rare opportunity to acquire an income-producing property with established tenants and excellent proximity to everything Cary has to offer.

Full Property Details

Full Property Details for 128 Rainbow Ct

General

Sold For: $617,500
Taxes: $5,250 (2025)
Status: Closed
Type: Duplex
Source: 2218
MLS ID: 10177740
Added to Site: 102 day(s) ago

Rental Information

Lease/Rent Term: 12 Months

Interior

Flooring: Carpet, Linoleum, Luxury Vinyl

Rooms

Bathrooms

Total Bathrooms: 4
Full Bathrooms: 2
Half Bathrooms: 2

Bedrooms

Total Bedrooms: 5

Parking

Parking Features: On Site

Location

County: Wake
Subdivision: Rainbow Estates

School Information

Elementary School: Wake - Cary Elementary
Middle School: Wake - East Cary Middle
High School: Wake - Cary High

Heating & Cooling

Central air: Yes
Air Conditioning: Yes
Cooling Type: Central Air
Heating Type: Central, None

Utilities

Sewer: Public Sewer
Water: Public

Structural Information

Structure Type: Duplex
Exterior Const.: Brick, Wood Siding
Roof: Shingle
Common Walls: 1 Common Wall
Stories/Levels: 2
Building Size: 2624
Square Feet: 2,624
Living Area: 2,624 Sq. Ft.
Finished Above Grnd: 2,624 Sq. Ft.
Year Built: 1973

Unit Information

Units in Building: 2

Lot Features

Lot Size (Acres): 0.39
Lot Size (Sq. Ft.): 16,988
Zoning: TRP

Financial Considerations

Tax Amount: $5,250.66
Tax Year: 2025
Terms: Cash, Conventional, 1031 Exchange
Owner Pays: Repairs
Tenant Pays: All Utilities

Disclosures and Reports

Special Conditions: Seller Licensed Real Estate Professional, Standard
APN: 764814829
Lot Number: 15

Listed by Compass -- Cary, Annette Holt (919) 810-2203 and Compass -- Cary , Davis Holt (919) 810-2188
Sold by Keller Williams Legacy, Michelle Lynn Stephenson

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Listing agents

— 128 Rainbow Ct —

Annette Holt

Compass -- Cary
Davis Holt

Compass -- Cary

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Schools

Schools serving 128 Rainbow Ct

School District:Wake County Schools

Name	Grades	Distance
Cary Elementary 400 Kildaire Farm Road, Cary, NC 27511	PK-5	0.8 mi
East Cary Middle School 1111 Southeast Maynard Road, Cary, NC 27511	6-8	0.5 mi
Cary High 638 Walnut Street, Cary, NC 27511	9-12	1.1 mi

Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 128 Rainbow Ct

Date

Details

Price

Change

Source

8/21/2026

Sold

$617,500

-0.8%

MLS

7/02/2026

Listed

$622,500

—

MLS

Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Single Family
Active
Updated 5 hours ago

3
Beds
3
Total Baths

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Just Listed

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Active
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Beds
3
Total Baths

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Just Listed

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7
Beds
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Just Listed

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3
Beds
3
Total Baths

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Price Reduced

-$4,100 (-1.52%)

$264,900

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Condo
Active
Updated 1 day ago

2
Beds
2
Total Baths

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Price Reduced

-$25,000 (-5%)

$474,990

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Single Family
Active
Updated 4 days ago

4
Beds
4
Total Baths

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Price Reduced

-$30,000 (-6.07%)

$464,473

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Townhouse
Active
Updated 3 hours ago

3
Beds
4
Total Baths

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Townhouse
Active
Updated 3 hours ago

3
Beds
4
Total Baths

Listed by Fonville Morisey & Barefoot, Ginny Baker and Fonville Morisey & Barefoot, Molly Ann Williams

Sold

$615,000

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Duplex
Closed
Updated 9 hours ago

2
Beds
3
Total Baths

Listed by Compass -- Cary, Annette Holt and Compass -- Cary , Davis Holt
Sold by Keller Williams Elite Realty, Asa Clark

Sold

$560,000

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Single Family
Closed
Updated 10 days ago

2
Beds
1
Total Bath

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Sold

$575,000

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Single Family
Closed
Updated 10 days ago

4
Beds
2
Total Baths

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Sold

$640,000

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Single Family
Closed
Updated 10 days ago

3
Beds
3
Total Baths

Listed by Choice Residential Real Estate, Natalie MacDonald
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128 Rainbow Court, Cary, NC 27511 (MLS# 10177740) is a Duplex property that was sold at $617,500 on August 21, 2026. Want to learn more about 128 Rainbow Court? Do you have questions about finding other Duplex real estate for sale in Cary? You can browse all Cary real estate or contact a Coldwell Banker agent to request more information.

128 Rainbow Ct Cary, NC 27511