39
Map
$398,000
●
House -
For Sale
718 Powell Drive
Raleigh, NC 27606
Studio
2 Baths
1,940 Ft²
$2,252
Est. Monthly
About This Property
Rare opportunity to own a classic log cabin-style home in the heart
of Raleigh, conveniently located near NC State University and
Downtown Raleigh. Situated on a wooded lot, the property offers
ample off-street parking and a private backyard featuring a patio
and fire pit. The 3 bedroom, 2 bath home was lightly renovated in
2009, including refinished hardwood floors, an updated downstairs
full bathroom, and an expanded living area. The property offers
multiple possibilities for an owner-occupant or investor, including
continued residential use, potential student housing, or
redevelopment with new construction. A unique opportunity to own a
character filled property in a highly desirable Raleigh location
with convenient access to NC State, Downtown, shopping, dining, and
major roadways.
Unit Size
1,940 Ft²
Days on Market
15 days
Land Size
0.31 acres
Price per sqft
$205
Property Type
House
Property Taxes
$297
HOA Dues
-
Year Built
1928
Listed By
Andrew Suriano
ASA Properties NC, 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: 16 days ago (TMLS #10199316)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 19, 2026 | Listed by ASA Properties NC, LLC | $398,000 | |
| Listed by ASA Properties NC, LLC | |||
| May 22, 2020 | Sold | ||
| Sold | |||
| Apr 17, 2020 | No longer available | - | |
| No longer available | |||
| Apr 9, 2020 | Price Decreased |
$279,000
↓ $21K
(7%) | |
| Price Decreased | |||
| Jan 20, 2020 | Price Decreased |
$299,900
↓ $15K
(4.8%) | |
| Price Decreased | |||
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Property Highlights
Air Conditioning
Interior Details
Full Bathrooms: 2
Flooring Type: Hardwood
Rooms: 1
Exterior Details
Square Footage: 1940
Architectural Style: Log Home
Year Built: 1928
Building Area Total: 1940
Levels: One and One Half
Construction Materials: Log Siding, Stone
Lot Size Area: 0.31
Lot Size Units: Acres
Lot Size Acres: 0.31
Lot Size Square Feet: 13504
Water Source: Public
Financial Details
Tax Map Number: 258
Tax Assessed Value: $3,562
Tax Annual Amount: $3,563
Utilities Details
Cooling Type: Central Air, Window Unit(s)
Heating Type: Forced Air
Sewer : Public Sewer
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
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HOA + Taxes
About Southwest Raleigh
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Listed by: Andrew Suriano, ASA Properties NC, LLC
Last Updated: 16 days ago
Data Source: TMLS, MLS# 10199316
Last Updated: 16 days ago
Data Source: TMLS, MLS# 10199316
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