618 Powell Drive
About This Property
Inside you'll find nearly 3,000 square feet with four bedrooms plus the option for a fifth, along with four full baths. The open layout features nine-foot ceilings, hardwoods throughout, and oversized sliding doors that fill the living spaces with natural light. The kitchen stands out with quartz countertops, a farmhouse sink, custom cabinetry, and a built-in wine bar perfect for entertaining.
Upstairs, the bedrooms are bright and spacious, with custom closet shelving and spa-like bathrooms. The primary suite includes a frameless glass shower and elevated finishes. A mudroom with built-ins adds everyday convenience, and the two-car garage is finished with drywall and paint for a more polished look than you typically see. Energy-efficient touches like a tankless water heater, sealed crawl space, and Wi-Fi thermostats make the home as practical as it is beautiful.
All of this comes with the bonus of no HOA, and a location just minutes from NC State, Lake Johnson Park, Crossroads Plaza, and Downtown Raleigh. With quality finishes and a central Raleigh setting, this home offers both comfort and long-term appeal.
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017