$625,000
●
Land -
Off Market
2805-2809 Grant Avenue
Raleigh, NC 27607
Studio
0 Bath
$760,045
RealtyHop Estimate
21.61%
Since May 1, 2021
National-US
Primary Model
About This Property
Level single family building lot in prime location. Great schools,
corner location for easy side entry garage plan. **Previously
divided into 2 lots BUT original restrictive covenants prevent
building 2 houses so being sold as 1 building lot containing both
2805 and 2809 Grant Ave. Covenants in TMLS docs along with current
survey. Sold "as is". Tired of narrow subdivided lots with sloped
terrain - then this is for you! DO NOT walk the property without
prior approval- currently leased and occupied. NO SIGN
Unit Size
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Days on Market
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Land Size
0.33 acres
Price per sqft
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Property Type
Land
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HOA Dues
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Year Built
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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: 2 years ago (TMLS #2368850)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Apr 30, 2021 | Sold | ||
| Sold | |||
| Feb 25, 2021 | Listed by Cornerstone Properties | $625,000 | |
| Listed by Cornerstone Properties | |||
| | |||
|
Level single family building lot in prime location. Great schools, corner location for easy side entry garage plan. **Previously divided into 2 lots BUT original restrictive covenants prevent building 2 houses so being sold as 1 building lot containing both 2805 and 2809 Grant Ave. Covenants in TMLS docs along with current survey. Sold "as is". Tired of narrow subdivided lots with sloped terrain - then this is for you! DO NOT walk the property without prior approval- currently leased and occupied. NO SIGN
| |||
| Sep 26, 2019 | No longer available | - | |
| No longer available | |||
| Mar 2, 2019 | Relisted | $750,000 | |
| Relisted | |||
| Oct 27, 2018 | No longer available | - | |
| No longer available | |||
Show More
Property Highlights
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
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HOA + Taxes
About University
Similar Homes for Sale
Currently no similar homes aroundNearby Rentals
Listed by: Donald Moody, Cornerstone Properties
Last Updated: 2 years ago
Data Source: TMLS, MLS# 2368850
Last Updated: 2 years ago
Data Source: TMLS, MLS# 2368850
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