594 Cedar Lake Rd #A, Chapel Hill, NC, 27516
About This Home
Turnkey Multi Unit Investment opportunity available! Updated 6-unit Condominium Units on Approx. 5 acres in the Beautiful Chapel Hill area with low Chatham County taxes and NO HOA! This is a rare chance to own a 6-unit condominium package on 5 acres of land that has much more potential. All 6 units have Excellent Rental history, close to UNC/CH Hospital, shops and grocery stores. Each unit is 736 sq ft that offers a 2 bed / 1 bath with a fireplace, new floors, appliances, fiber cement exterior siding, decks and more! Total rent for all 6 units is $7,225 with a proven rent history. This property is being sold as a package deal with 4604 Lavista Ct. in Raleigh. (MLS# 10116688) Total number of units is 8 with a total income of $9,875.
Getting Around
Car-Dependent
Minimal Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1981
Materials
- Roof: Shingle
- Construction materials: Fiber Cement
Type & Style
- Home type: Condo
- Property subType: Condominium,Multi Family,Duplex
Interior
Basement
- Basement: Crawl Space
Bedrooms & Bathrooms
- Bedrooms: 6
- Bathrooms: 3
- Full bathrooms: 3
Features
- Flooring: Vinyl
- Finished area below ground: 0
- Finished area above ground: 4,416
Heating & Cooling
- Heating features: Electric,Fireplace(s),Heat Pump
- Cooling features: Central Air,Heat Pump
Interior Area
- Total structure area: 4,416
- Total interior livable area: 4,416 sqft
Property
Details
- Parcel number: 002606
- Zoning: R-2
- Special condition: Standard
Features
- Levels: One
- Stories: 1
- Has view: Yes
Lot
- Lot size: 4.98 Acres
Parking
- Total spaces: 6
- Parking features: Gravel
- Has uncovered spaces: Yes
- Uncovered spaces: 6
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Tornado
- Cold Wave
- Hail
- Hurricane
- Heat Wave
- Inland Flooding
- Ice Storm
- Lightning
- Strong Wind
- Winter Weather
How This Home’s Risks Compare
FEMA Declared Disasters in Chatham County and North Carolina
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $7,964 | $95,568 |
| Home Insurance * | $436 | $5,232 |
| Property Taxes | $813 | $9,756 |
| Electricity | $411 | $4,935 |
| Total | $9,624 | $115,488 |
Income You'd Need if You Spent...
North Carolina FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2026-02-27 | Price change | $1,575,000 |
| 2025-08-19 | Listed for sale | $1,635,000 |
| 2024-03-26 | Listing removed | -- |
| 2024-01-22 | Listed for rent | $1,200 |
| 2023-08-16 | Listing removed | -- |
| 2023-07-26 | Listed for rent | $1,200 |
| 2022-08-16 | Listing removed | -- |
| 2022-08-01 | Listed for rent | $1,150 |
| 2022-03-22 | Listing removed | -- |
| 2022-02-08 | Listed for rent | $1,100 |
| 2021-01-04 | Listing removed | -- |
| 2020-12-19 | Listed for rent | $925 |
| 2020-02-18 | Listing removed | $900 |
| 2020-01-30 | Listed for rent | $900 |
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