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509 Cape Ave

Raleigh, NC 27601 - Wake County

Apartment

1 bed

1 bath

Pets OK

About 509 Cape Ave

1 bedroom 1 bathroom beautifully renovated unit on a large corner lot with plenty of parking on and off street with very little traffic. This amazing location offers walkable downtown living while offering views of open park areas with walking trails and expansive green lawns. Easy access to 440/RDU, schools, hospitals and much more. Amenities: Freezer, Oven, Blinds & Electric Heat.

1 day on RentalSource

RentalSource last checked: 2 hours ago · Listing updated: October 31, 2026

Managed by: NC & Company · (919) 324-0971

Listing data quality - We review listings daily to detect outdated, duplicate, or misleading information.

Property Summary

Property Type:	Apartment
Rental Fee:	$1,150
Bedrooms:	1 bed
Bathrooms:	1 bath
Size:	Inquire

Pets:	Yes
Laundry:	Inquire
Parking:	Yes
Available:	Inquire
ID:	84679477

Amenities

Parking
Balcony/Patio
Ceiling Fan
Electric Range
Refrigerator
Tile Floors
Vinyl/Laminate Floors

Additional Details

This 1-bedroom, 1-bathroom apartment at 509 Cape Ave in Raleigh, NC 27601 rents for $1,150 a month. It is pet friendly. 509 Cape Ave was advertised by NC & Company on October 31, 2026.

How the Rent Compares

At $1,150 a month, this apartment is below the typical rent for 1-bedroom apartments and condos in Raleigh (about $1,390).

From 269 one-bedroom apartments and condos listed in Raleigh on RentalSource in November 2026: the scale holds eight in ten of them, and the shaded band the middle half.

$1,390Typical rent for 1-bedroom apartments and condos in Raleigh

$1,200–$1,560Middle half of their rents

17 daysAverage time they have been listed

See 1+ bedroom rentals in Raleigh

Affordability Calculator

Can I afford to live at 509 Cape Ave?

Bedrooms

1 bedroom

Rent-to-income ratio

30%

10% Recommended 50%

Move the slider to select the percentage of your monthly income you're comfortable spending on rent. Typically, it's advised to spend about 30% or less on housing.

Recommended income

$46,000 /year

With your chosen rent-to-income ratio, an annual income of $46,000 is recommended to comfortably afford this 1-bedroom rental priced at $1,150 per month.

For more information on rent affordability, visit our rent calculator or rent vs. buy calculator.

Apartment for rent

$1,150

Can I afford this home?

Interested in 509 Cape Ave?

Find out more about this property & see if it's available now.

Property managed by:

NC & Company

(919) 324-0971 · View all 6 rentals

Avoid rental scams - Situations involving wire transfers or a landlord who can't meet you in person can be red flags.