1220 Enchanted Oaks Drive
About This Property
The main-level primary suite includes a walk-in closet and private bath, providing separation from the secondary bedrooms upstairs. The family room connects to the sunroom, creating an extended living space filled with natural light. The kitchen is centrally positioned between the breakfast area and dining room, supporting both casual meals and larger gatherings.
Upstairs includes three bedrooms, multiple walk-in closets, and floored attic storage. A finished flex room above the detached garage offers additional heated living space suitable for a home office, studio, fitness room, or media room. Two separate floored attic storage areas provide expanded storage capacity beyond traditional attic access.
Outdoor spaces include a screened porch, open deck, covered porch, and a full-width front porch spanning the front of the home. The breezeway provides covered access to the detached garage, which also includes dedicated storage areas. In addition to the main living area, the property features substantial covered and open-air exterior space, garage square footage, and finished bonus space above the garage.
Located in Raleigh (27606) with convenient access to NC State University, Downtown Raleigh, Cary Crossroads, Lake Johnson Park trails, Meredith College, and the I-440 and I-40 corridors. Nearby grocery, dining, retail, parks, and greenway access are within a short drive.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
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About Enchanted Oaks
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017