$192,000
●
Condo -
Off Market
159 Gallery Drive #201
Spring Lake, NC 28390
3 Beds
2 Baths
1,430 Ft²
$1,264
Est. Monthly
$286
HOA / Fees
9.73%
Cap Rate
About This Property
Beautiful 3-bedroom, 2-bathroom condominium located in a
prestigious gated community. Residents enjoy a range of amenities,
including a swimming pool, tennis courts, and a playground,
catering to diverse recreational interests. HOA includes high-speed
internet. Upon entering, you will be greeted by an open-concept
layout. The kitchen overlooks a spacious living room with a
fireplace, creating an ideal space for relaxation and social
gatherings. The kitchen has granite countertops and stainless steel
appliances.
Unit Size
1,430 Ft²
Days on Market
-
Land Size
-
Price per sqft
$139
Property Type
Condo
Property Taxes
-
HOA Dues
$286
Year Built
-
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Cap Rate Calculator
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Cap Rate
100% Occupancy
N/A (extreme outlier) 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.
Last updated: 7 months ago (TMLS #LP758208)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Mar 24, 2026 | Sold | ||
| Sold | |||
| Mar 6, 2026 | In contract | - | |
| In contract | |||
| Mar 1, 2026 | Listed by BROWN PROPERTY GROUP | $199,000 | |
| Listed by BROWN PROPERTY GROUP | |||
Property Highlights
Air Conditioning
Fireplace
Parking Details
Parking Features: None
Interior Details
Full Bathrooms: 2
Interior Features: Ceiling Fan(s), Eat-in Kitchen, Walk-In Closet(s), Bathtub/Shower Combination
Appliances: Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Washer, Washer/Dryer
Flooring Type: Hardwood, Tile, Vinyl
Laundry Features: Inside, Main Level
Rooms: 5
Has Fireplace
Fireplace Features: Electric
Fireplaces: 1
Exterior Details
Has Property Attached
Square Footage: 1430
Year Built: 2007
Building Area Total: 1430
Building Area Units: Square Feet
Window Features: Blinds
Construction Materials: Brick Veneer, Fiber Cement
Patio and Porch Features: Covered, Patio
Pool Features: Community
Lot Features: Partially Cleared
Utilities Details
Cooling Type: Central Air, Electric
Heating Type: Heat Pump
Location Details
HOA Fee: $286
HOA Fee Frequency: Monthly
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
03/01/2026
|
3 Bed
|
2 Bath
|
1430 ft²
|
$199,000
3 Bed
2 Bath
1430 ft²
|
$192,000
-3.52%
03/24/2026
|
PAMELA WIGGS
BROWN PROPERTY GROUP
| |
|
05/22/2025
|
3 Bed
|
2 Bath
|
1366 ft²
|
$212,000
3 Bed
2 Bath
1366 ft²
|
$207,000
-2.36%
09/11/2025
|
KAREN HUDSON
ANDERSON CREEK REALTY LLC
| |
|
05/31/2024
|
3 Bed
|
2 Bath
|
1399 ft²
|
$223,000
3 Bed
2 Bath
1399 ft²
|
$205,000
-8.07%
11/21/2024
|
Jacqueline Shaffer
Offerpad Brokerage LLC
| |
|
03/12/2024
|
3 Bed
|
2 Bath
|
1399 ft²
|
$229,900
3 Bed
2 Bath
1399 ft²
|
-
-
|
Steve G Metarelis
Offerpad Brokerage LLC
| |
|
03/01/2022
|
2 Bed
|
2 Bath
|
-
|
$195,000
2 Bed
2 Bath
|
-
-
|
REBECCA SEIZERT
PINELAND REALTY LLC
| |
|
06/11/2020
|
3 Bed
|
2 Bath
|
-
|
$152,999
3 Bed
2 Bath
|
$150,000
-1.96%
08/25/2020
|
MELISSA CRUMLEY
PINELAND REALTY LLC
| |
|
04/05/2017
|
3 Bed
|
2 Bath
|
-
|
$148,900
3 Bed
2 Bath
|
$139,500
-6.31%
06/08/2017
|
ERICA MORGAN
CASA MORGAN REAL ESTATE, LLC
| |
|
12/23/2016
|
3 Bed
|
2 Bath
|
-
|
$129,900
3 Bed
2 Bath
|
$125,000
-3.77%
04/21/2017
|
LaRue PAGE
RE/MAX PREMIER PROPERTIES
| |
|
01/31/2016
| |
3 Bed
|
2 Bath
|
-
|
$150,000
3 Bed
2 Bath
|
$145,000
-3.33%
11/07/2016
|
GRULLON TEAM
COLDWELL BANKER ADVANTAGE - FAYETTEVILLE
|
Building Info
About Fairway
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Listed by: PAMELA WIGGS, BROWN PROPERTY GROUP
Last Updated: 7 months ago
Data Source: TMLS, MLS# LP758208
Last Updated: 7 months ago
Data Source: TMLS, MLS# LP758208
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