$414,490
↓ $11K (2.5%)
●
House -
For Sale
4229 Gray Alder Lane
Raleigh, NC 27616
3 Beds
2 Baths
1,814 Ft²
$2,141
Est. Monthly
$105
HOA / Fees
About This Property
This single-level home is ready for modern lifestyles. Two
secondary bedrooms and a full bathroom are located off the foyer.
An open-concept floorplan that blends the kitchen, living and
dining areas boasts access to an outdoor patio for simple
entertaining and multitasking. The luxurious owner's suite is
nestled into a private rear corner and offers direct access to a
spa-inspired bathroom and walk-in closet. Prices, dimensions
and features may vary and are subject to change. Photos are for
illustrative purposes only.
Unit Size
1,814 Ft²
Days on Market
52 days
Land Size
0.17 acres
Price per sqft
$229
Property Type
House
Property Taxes
-
HOA Dues
$105
Year Built
-
Listed By
Kristen Clark
Lennar Carolinas LLC
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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: 20 days ago (TMLS #10192795)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 17, 2026 | Price Decreased |
$414,490
↓ $11K
(2.5%) | |
| Price Decreased | |||
| Oct 14, 2026 | Price Decreased |
$424,990
↓ $5K
(1.2%) | |
| Price Decreased | |||
| Sep 17, 2026 | Price Decreased |
$429,990
↓ $10K
(2.3%) | |
| Price Decreased | |||
| Sep 15, 2026 | Listed by Lennar Carolinas LLC | $439,990 | |
| Listed by Lennar Carolinas LLC | |||
Property Highlights
Garage
Air Conditioning
Parking Details
Has Garage
Attached Garage
Has Open Parking
Garage Spaces: 2
Open Parking Spaces: 2
Interior Details
Full Bathrooms: 2
Flooring Type: Carpet, Luxury Vinyl, Tile
Rooms: 7
Exterior Details
Square Footage: 1814
Architectural Style: Ranch, Traditional
Year Built: 2026
Building Name: Clayton
Builder Name: Lennar
Builder Model: Clayton
Building Area Total: 1814
Levels: One
Construction Materials: Batts Insulation, Blown-In Insulation, Frame, Stone, Vinyl Siding, Low VOC Paint/Sealant/Varnish
Lot Size Area: 0.17
Lot Size Units: Acres
Lot Size Acres: 0.17
Lot Size Square Feet: 7405.2
Water Source: Public
Utilities Details
Cooling Type: Central Air, Heat Pump, Zoned
Heating Type: Central, Natural Gas, Zoned
Sewer : Public Sewer
Location Details
HOA/Condo/Coop Fee Includes: Internet
HOA Fee: $105
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
About Wake
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Listed by: Kristen Clark, Lennar Carolinas LLC
Last Updated: 20 days ago
Data Source: TMLS, MLS# 10192795
Last Updated: 20 days ago
Data Source: TMLS, MLS# 10192795
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