70
Map
7017 Rainwater Road
About This Property
Designed by acclaimed architect Tony Frazier and built by prestigious Raleigh Custom Homes, this showstopper represents a masterclass in architectural excellence and craftsmanship with refined architectural details, bespoke millwork, and designer finishes that rival the finest luxury residences worldwide.
From the moment the custom iron front door opens, this home makes a bold statement--timeless yet modern, sophisticated yet inviting. Inside, an extraordinary floor plan bathed in natural light unfolds, designed seamlessly to accommodate multigenerational living with expansive MAIN LEVEL PRIMARY suite AND main-level in-law/guest suite. On-trend designer finishes, from kitchen scullery to intimate speak easy are ideal for entertaining on a grand scale or enjoying quiet, intimate moments overlooking the lush greens under the stars.
The true showpiece lies in the home's reimagined indoor-outdoor lifestyle. Step outside to your own private resort including an expansive phantom screened-in veranda with stone fireplace, heated ceilings and gourmet outdoor grilling kitchen. Enjoy the heated saltwater pool with integrated fire and water features, creating a dramatic focal point all while enjoying elevated golf course views overlooking manicured greens on hole 13 of The Oaks course. Ideal North Raleigh location- Steps to North Ridge Country Club and convenient to RDU airport and downtown Raleigh. WELCOME HOME!
**Some images may include virtual staging or AI-assisted enhancements for illustrative purposes only; actual property features and conditions should be independently verified by buyers**
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 1, 2026 | In contract | - | |
| In contract | |||
| Aug 26, 2026 | Price Decreased |
$3,650,000
↓ $40K
(1.1%) | |
| Price Decreased | |||
| Jun 6, 2026 | Price Decreased |
$3,690,000
↓ $60K
(1.6%) | |
| Price Decreased | |||
| Apr 9, 2026 | Listed by Howard Hanna Allen Tate Raleigh Falls of Neuse | $3,750,000 | |
| Listed by Howard Hanna Allen Tate Raleigh Falls of Neuse | |||
| Jan 2, 2024 | Sold | ||
| Sold | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017