1313 Ridge Road
About This Property
Nestled on a deep and versatile .36-acre lot, this charming 1-story, 1,135 sq ft home with a tall unfinished basement offers incredible potential in one of Raleigh's most desirable areas. Whether you're looking to build your dream home, add an ADU, expand the existing footprint, or invest in a property with strong upside, this is a rare find.
The home features 3 bedrooms, a recently updated bathroom, and a bright, functional kitchen that opens into a comfortable living and dining area-ideal for entertaining or everyday living. Solid hardwood floors add warmth and character throughout the home.
The property enjoys unbeatable convenience-just one block from Ridgewood Shopping Center, home to Whole Foods, Fleet Feet, Snookers, Taco Bamba and Drift Coffee Shop & Cafe, along with other boutique shops and neighborhood favorites.
Surrounded by new high-end multi-million dollar infill homes, this location offers long-term value and lifestyle appeal. With easy access to Wade Avenue, you're minutes from RTP via I-40, easy access to I-440, or a straight shot to the Village District and downtown Raleigh.
Perfect for a builder looking for a teardown, someone seeking a stylish starter home in a prestigious neighborhood with room to grow, or an investor looking for property with a strong rental history and future appreciation-1313 Ridge Rd is a rare gem with limitless possibilities.
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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 North Hills
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017