309 Penn Oak Circle
About This Property
The upper level showcases a sunlit living area that flows effortlessly into a designer kitchen, appointed with granite countertops, a full-height subway tile backsplash, farmhouse sink, refined gold fixtures, and a curated mix of black and stainless steel appliances. The adjacent dining area, perfectly positioned by the window, creates an inviting setting for both casual meals and entertaining. Two well-proportioned bedrooms and a beautifully updated full bath complete this level.
The lower level expands the living space with a spacious family/bonus room featuring direct access to the backyard through sliding glass doors--ideal for indoor-outdoor living. This level also includes an additional bedroom, full bath, and an oversized laundry room offering excellent storage and flexible workspace potential.
Surrounded by mature trees, the private backyard provides a peaceful, secluded setting--perfect for entertaining, grilling, or relaxing outdoors.
Offered fully furnished, this property presents a rare turnkey opportunity. The seller is also contributing $5,000 toward buyer closing costs with an acceptable offer, adding even more value. Ideally located in a desirable area of Raleigh, this home combines style, comfort, and convenience in one exceptional package.
Payment Calculator
Your Estimated Monthly Payment
Cap Rate Calculator
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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| May 21, 2026 | Sold | ||
| Sold | |||
| Apr 22, 2026 | In contract | - | |
| In contract | |||
| Apr 10, 2026 | Price Decreased |
$389,000
↓ $10K
(2.5%) | |
| Price Decreased | |||
| Apr 2, 2026 | Listed by United Real Estate Triangle | $399,000 | |
| Listed by United Real Estate Triangle | |||
| Aug 28, 2025 | Sold | ||
| Sold | |||
Property Highlights
Building Info
Comparables
Status
Price/ft²
Listed On
Sold On
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017