612 Marlowe Road
About This Property
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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%.
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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 |
|---|---|---|---|
| Nov 1, 2024 | Sold | ||
| Sold | |||
| Sep 25, 2024 | In contract | - | |
| In contract | |||
| Sep 23, 2024 | Listed by Hodge & Kittrell Sotheby's Int | $1,675,000 | |
| Listed by Hodge & Kittrell Sotheby's Int | |||
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Welcome to 612 Marlowe, a timeless Georgian masterpiece nestled on a tranquil wooded lot near Raleigh's vibrant North Hills district. Built in 1969 by esteemed builder John C. Williams and meticulously renovated in 2019, this home seamlessly blends historic charm with contemporary luxury. Surrounded by mature trees, the gradual, winding driveway approach is reminiscent of a country estate.
The all-brick exterior and custom, six light steel door welcomes people into the epitome of modern elegance. Step inside to discover a grand entry hall flanked by a formal living room and dining room, adorned with exquisite details like a fireplace, built-in bookshelves, and elegant wainscotting. The gourmet chef's kitchen serves as a gathering spot for friends and family alike. Fuilford & Company custom cabinetry is topped with quartz countertops for an elegant backdrop. The oversized island contains a Sub-Zero beverage refrigerator and Uline nugget ice machine. The Wolf range and Sub-Zero built-in refrigerator, and pantry make this kitchen the true heart of the home. Accordion doors open the kitchen to a custom brick patio that runs the width of the home. The gracious custom fireplace and hearth is accompanied by an outdoor kitchen with large island, Bull grill, and fridge.
Upstairs boasts a gracious owners suite with walk-in closet and newly remodeled bathroom. The office in the owners' bedroom could be converted to upstairs laundry or a second walk-in closet. Two additional bedrooms and an additional bath accompany the owners' suite on the second floor. The third floor is great bonus space, currently used for a bedroom but could be used as a home office or play area. It features tongue and groove wood on the walls and ceiling as well as wall to wall carpet. Serviced by a mini-split heating and cooling system, and insulated with foam insulation, this converted area adds to the charm of the existing home.
Two parking pads provide convenient parking access for additional guests, while the driveway leads to a newly constructed two-story garage. With a mini-split heating and cooling system and plans for a full bathroom, this additional building could easily be converted to a guest cottage. Welcome home to timeless elegance and modern sophistication inside the beltline.
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| Jun 12, 2019 | Sold | ||
| Sold | |||
| Jan 22, 2019 | Listed by Hodge & Kittrell Sotheby's Int | $850,000 | |
| Listed by Hodge & Kittrell Sotheby's Int | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017