Police said it happened just before midnight in the 100 block of Farris Court.
Authorities have identified the victim as 20-year-old Corsean Holloway.
The investigation is ongoing.
Anyone with information that might assist the investigation is asked to call 911 or Raleigh CrimeStoppers at (919) 834-HELP or visit raleighcrimestoppers.org for text and email reporting options. CrimeStoppers pays cash rewards for anonymous tips that help solve cases.