$2,450,000
●
House -
Off Market
7516 Grist Mill Road
Raleigh, NC 27615
5 Beds
5 Baths,
1
Half Bath
4,595 Ft²
$13,320
Est. Monthly
About This Property
Located in North Raleigh in the highly sought-after neighborhood
North Ridge, recently built by Raleigh Custom Homes. This home
features an open concept plan with a formal dining room and an
office/study. The family room includes a gas fireplace with
built-ins and flows out to the screen porch through a wall of
sliding glass doors. The chef style kitchen includes a huge island,
custom cabinetry, top-of-the-line JennAir appliances, 8 burner gas
range, wall ovens, and a walk-in pantry.
The primary suite and guest suite are located on the main floor. Upstairs features 3 more bedrooms, a game room with a wet bar, a large exercise room, and finished flex spaces.
The outdoor living space is equipped with Phantom screens, Infratech heaters, and a grilling station- all of which look out to the saltwater pool/spa.
Custom features boast throughout this home and located just minutes away from prime dining, shopping, and entertainment.
The primary suite and guest suite are located on the main floor. Upstairs features 3 more bedrooms, a game room with a wet bar, a large exercise room, and finished flex spaces.
The outdoor living space is equipped with Phantom screens, Infratech heaters, and a grilling station- all of which look out to the saltwater pool/spa.
Custom features boast throughout this home and located just minutes away from prime dining, shopping, and entertainment.
Unit Size
4,595 Ft²
Days on Market
-
Land Size
0.32 acres
Price per sqft
$544
Property Type
House
Property Taxes
$1,049
HOA Dues
-
Year Built
1971
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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: 6 months ago (TMLS #10131774)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Apr 30, 2026 | Sold | ||
| Sold | |||
| Feb 26, 2026 | In contract | - | |
| In contract | |||
| Feb 19, 2026 | Price Decreased |
$2,499,000
↓ $100K
(3.9%) | |
| Price Decreased | |||
| Dec 3, 2025 | Price Decreased |
$2,599,000
↓ $100K
(3.7%) | |
| Price Decreased | |||
| Nov 6, 2025 | Listed by Raleigh Custom Realty, LLC | $2,699,000 | |
| Listed by Raleigh Custom Realty, LLC | |||
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Property Highlights
Garage
Air Conditioning
Fireplace
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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Baths
ft²
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About North Raleigh
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Listed by: Steve Wall, Raleigh Custom Realty, LLC
Last Updated: 6 months ago
Data Source: TMLS, MLS# 10131774
Last Updated: 6 months ago
Data Source: TMLS, MLS# 10131774
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