1331 Park Glen Dr #101 · Raleigh, NC 27610

$130,000

2 bd · 2.0 ba · 912 sqft · Condo public records · 30 Days on market

Built 1986 $298/mo HOA · 19% of rent

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.7/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• DSCR +5.2/10.0
• Schools +4.9/10.0
• Livability +4.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Investment Property. Sold "as is" cash deals only. Seller replaced carpeting, put in tile flooring in kitchen and both bathrooms. Both bedrooms have full baths. Walk-in closet in master bedroom. Washer, dryer and refrigerator convey "as is" at no value. Covered patio. Current tenant pays $775.00 monthly.

Key facts

• Raleigh bus line
• First floor condo
• Hoa covers water

Tags

• FIRST FLOOR CONDO
• RALEIGH BUS LINE
• MINUTES FROM THE BELTLINE
• HOA COVERS WATER

Property features AI

Finance

• Other: Unit number 101; Community features include sidewalks and street lights; County: Wake; Postal code: 27610
• HOA & community: HOA with monthly fee; Association amenities include grounds maintenance, management, parking, trash, and water; Association fee collected monthly

Exterior

• Parking: Covered parking for 2 vehicles (2 total spaces)
• Utilities: Public water; Public sewer; Sewer connected; Water connected
• Home design: Site-built property; One story
• Construction: Masonite exterior; Shingle roof; Slab foundation; Built as site-built construction
• Exterior features: Patio; 2+ common walls; Sidewalks; Street lights; Private maintained road

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Water heater
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Heat pump; Hot water heating; Central air conditioning; Electric cooling; Heat pump cooling
• Interior features: Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $82 ($981/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.0% vs local median 2.7% in Raleigh — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 83/100 on livability (#10 in NC, #1,028 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Wake County Schools (suburban): math 52% / reading 60% proficiency, ranked #35 of 178 in NC (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 586 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 15,249 units permitted in Wake County in 2024 (5,568 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Wake County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 29y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $95k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $128,050 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.18% ✓
• Cap rate: 7.05%
• Cash-on-cash: 2.69%
• DSCR: 1.12
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.2% rent growth · sell at horizon

5-year hold

• IRR: -15.9%
• Equity multiple: 0.45×
• Total profit: $-19,908
• Equity at exit: $19,383

10-year hold

• IRR: -15.1%
• Equity multiple: 0.28×
• Total profit: $-26,308
• Equity at exit: $11,240

Cash invested: $36,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 85 Strongly Landlord-Friendly
• State North Carolina: 85 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

10-day notice; preempted; landlord-favorable but court speed varies.

Methodology + full state rankings →

ZIP-level market 27610

• Rents YoY: 0.2%
• Active inventory: 586
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,538 high
• Mortgage (P&I): −$682
• Tax from tax record: −$100 /mo · $1,197/yr
• Insurance: −$54
• HOA: −$298
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $82

Break-even live

Break-even rent $1,435

Max offer price $130,000

Occupancy floor 90%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1341 Park Glen Dr #101 Raleigh, NC	2.0	2.0	912	$1,250	$1.37	23d	1	0.05mi
1330 Park Glen Dr #104 Raleigh, NC	2.0	2.0	1012	$1,295	$1.28	17d	1	0.11mi
1950 N Raleigh Blvd Unit C Raleigh, NC	2.0	2.0	1050	$1,249	$1.19	20d	1	0.18mi
817 Dalewood Dr Raleigh, NC	3.0	2.0	1110	$1,595	$1.44	14d	1	0.22mi
2110 Birkhall St Raleigh, NC	2.0	1.0–2.0	929	$2,200	$2.37	2d	93	0.36mi
1129 Marlborough Rd Raleigh, NC	3.0	2.0	1101	$2,050	$1.86	23d	1	0.48mi
2200 Glascock St Apt G Raleigh, NC	2.0	1.5	1100	$1,200	$1.09	23d	1	0.54mi
1806 Midwood Dr Apt C Raleigh, NC	2.0	1.0	950	$1,550	$1.63	21d	1	0.55mi
2317 Glascock St Raleigh, NC	2.0	1.0	820	$1,395	$1.70	23d	1	0.55mi
1806 Midwood Dr Raleigh, NC	2.0	1.0	950	$1,550	$1.63	4d	1	0.55mi
1806 Midwood Dr Apt D Raleigh, NC	2.0	1.0	950	$1,475	$1.55	21d	1	0.55mi
712 Hartford Rd Raleigh, NC	2.0	1.0	900	$1,450	$1.61	4d	1	0.66mi
808 Edmund St Unit B Raleigh, NC	1.0	1.0	720	$1,595	$2.22	23d	1	0.73mi
2221 Iron Works Dr Raleigh, NC	2.0	1.0–2.0	800	$2,572	$3.21	2d	10	0.83mi
2221 Iron Works Dr Raleigh, NC	2.0	1.0–2.0	803	$2,967	$3.69	4d	30	0.83mi
714 Highgate Pl Raleigh, NC	1.0	1.0	553	$1,147	$2.07	23d	1	0.88mi
708 Highgate Pl Raleigh, NC	1.0	1.0	553	$1,097	$1.98	23d	1	0.89mi
712 Highgate Pl Raleigh, NC	1.0	1.0	553	$1,147	$2.07	23d	1	0.89mi
700 Hampstead Pl Raleigh, NC	1.0	1.0	553	$1,122	$2.03	23d	3	0.96mi
2080 Brentmoor Dr Raleigh, NC	2.0	2.0	1055	$1,625	$1.54	21d	1	0.99mi
2080 Brentmoor Dr Raleigh, NC	1.0	1.0	735	$1,325	$1.80	12d	1	0.99mi
2080 Brentmoor Dr Raleigh, NC	1.0	1.0	735	$1,325	$1.80	23d	1	0.99mi
900 Canenaugh Dr #108 Raleigh, NC	2.0	2.0	1000	$1,550	$1.55	17d	1	1.10mi
900 E Six Forks Rd Raleigh, NC	1.0	1.0	895	$1,695	$1.89	23d	1	1.13mi
800 Moratuck Dr Raleigh, NC	1.0	2.0	750	$1,100	$1.47	23d	1	1.17mi
305 N State St Raleigh, NC	2.0	1.0	816	$1,350	$1.65	12d	1	1.35mi
2222 Bernard St Raleigh, NC	2.0	1.0	690	$1,375	$1.99	23d	1	1.39mi
105 Tall Rock Ct Raleigh, NC	1.0	1.0	1000	$965	$0.96	12d	1	1.42mi
105 Tall Rock Ct Raleigh, NC	1.0	1.0	1000	$950	$0.95	23d	1	1.42mi
2221 Bernard St Raleigh, NC	2.0	1.0	700	$1,450	$2.07	16d	1	1.44mi
2211 Bernard St Raleigh, NC	2.0	1.0	654	$1,650	$2.52	23d	1	1.44mi
2333 Bernard St Raleigh, NC	2.0	1.0	700	$1,550	$2.21	14d	1	1.45mi
2922 Glenridge Dr Raleigh, NC	2.0	1.5	1104	$1,450	$1.31	23d	1	1.45mi
2922 Glenridge Dr Unit A Raleigh, NC	2.0	1.5	1104	$1,450	$1.31	20d	1	1.46mi
2911 Mid-Century Dr Raleigh, NC	3.0	1.0–2.0	1038	$1,974	$1.90	1d	37	1.47mi
900 Moses Ct Raleigh, NC	1.0–2.0	1.0–1.5	1050	$1,400	$1.33	16d	5	1.48mi
2305 Hill St Raleigh, NC	2.0	2.0	1035	$1,550	$1.50	23d	1	1.48mi
2934 Glenridge Dr Raleigh, NC	3.0	1.5	1023	$2,000	$1.96	12d	1	1.50mi

HOA detail condo

• Monthly dues: $298 · $3,576/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-18
   days on market $130,000 Active 30 DOM
2. 2026-06-17
   days on market $130,000 Active 29 DOM
3. 2026-06-16
   days on market $130,000 Active 28 DOM
4. 2026-06-15
   days on market $130,000 Active 27 DOM
5. 2026-06-13
   days on market $130,000 Active 25 DOM
6. 2026-06-13
   days on market $130,000 Active 24 DOM
7. 2026-06-09
   days on market $130,000 Active 21 DOM
8. 2026-06-08
   days on market $130,000 Active 20 DOM
9. 2026-06-07
   days on market $130,000 Active 19 DOM
10. 2026-06-05
    days on market $130,000 Active 16 DOM
11. 2026-06-03
    days on market $130,000 Active 15 DOM
12. 2026-06-02
    days on market $130,000 Active 14 DOM
13. 2026-06-01
    days on market $130,000 Active 13 DOM
14. 2026-05-31
    days on market $130,000 Active 12 DOM
15. 2026-05-19
    listed $130,000 Active
16. 2025-03-19
    soldstatus $95,000
17. 2024-11-06
    historical
18. 2024-10-30
    listed $110,000 Active
19. 2016-12-16
    soldstatus $50,000 Closed 331-char remark

    Show marketing remark (331 chars)

    Great Investment Property. Sold "as is" cash deals only. Seller replaced carpeting, put in tile flooring in kitchen and both bathrooms. Both bedrooms have full baths. Walk-in closet in master bedroom. Washer, dryer and refrigerator convey "as is" at no value. Covered patio. Current tenant pays $775.00 monthly.

20. 2016-12-16
    soldstatus $50,000 331-char remark

    Show marketing remark (331 chars)

    Great Investment Property. Sold "as is" cash deals only. Seller replaced carpeting, put in tile flooring in kitchen and both bathrooms. Both bedrooms have full baths. Walk-in closet in master bedroom. Washer, dryer and refrigerator convey "as is" at no value. Covered patio. Current tenant pays $775.00 monthly.

21. 2016-12-16
    soldstatus $50,000

    Show marketing remark (331 chars)

    Great Investment Property. Sold "as is" cash deals only. Seller replaced carpeting, put in tile flooring in kitchen and both bathrooms. Both bedrooms have full baths. Walk-in closet in master bedroom. Washer, dryer and refrigerator convey "as is" at no value. Covered patio. Current tenant pays $775.00 monthly.

22. 2016-11-05
    historical Contingent 331-char remark

    Show marketing remark (331 chars)

    Great Investment Property. Sold "as is" cash deals only. Seller replaced carpeting, put in tile flooring in kitchen and both bathrooms. Both bedrooms have full baths. Walk-in closet in master bedroom. Washer, dryer and refrigerator convey "as is" at no value. Covered patio. Current tenant pays $775.00 monthly.

23. 2016-10-14
    listed $52,500 Active 331-char remark

    Show marketing remark (331 chars)

    Great Investment Property. Sold "as is" cash deals only. Seller replaced carpeting, put in tile flooring in kitchen and both bathrooms. Both bedrooms have full baths. Walk-in closet in master bedroom. Washer, dryer and refrigerator convey "as is" at no value. Covered patio. Current tenant pays $775.00 monthly.

24. 2016-10-12
    listed $52,500 331-char remark

    Show marketing remark (331 chars)

    Great Investment Property. Sold "as is" cash deals only. Seller replaced carpeting, put in tile flooring in kitchen and both bathrooms. Both bedrooms have full baths. Walk-in closet in master bedroom. Washer, dryer and refrigerator convey "as is" at no value. Covered patio. Current tenant pays $775.00 monthly.

25. 2014-09-16
    soldstatus $35,000
26. 2014-09-15
    soldstatus $35,000 Closed
27. 2014-09-10
    historical Contingent
28. 2014-09-03
    listed $42,000 Active
29. 2004-09-02
    soldstatus $47,000
30. 1997-11-30
    soldstatus $56,500
31. 1997-08-16
    listed $58,900
32. 1991-07-08
    soldstatus $48,500
33. 1990-01-08
    soldstatus $48,500
34. 1987-03-05
    soldstatus $48,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $1,197 · $100/mo
• Projected year-2 tax: $1,197 · $100/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,462
• − Mortgage interest: −$7,282
• − Property taxes: −$1,197
• − Insurance: −$650
• − Repairs & maintenance: −$1,477
• − Management: −$1,477
• − HOA: −$3,576
• − Depreciation: −$3,782
• Taxable loss: −$979
• Est. tax savings @ 24.0%: +$235
• After-tax cash flow: $1,216/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Wake County Schools
• NCES district ID: 3704720
• Math proficiency: 52% ▲ 2.00%
• Reading proficiency: 60% ▲ 4.00%
• Median HH income: $67,509
• Composite: 49.41/100
• National rank: #2010
• State rank: #35 of 178 in NC

Livability — Raleigh

• Score: 83/100
• State rank: #10
• US rank: #1028

Category grades

Amenities A+ Commute A+ Cost of living C+ Crime F Employment B Housing A+ Health & safety A+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Raleigh, NC
• County: Wake County · 1,216,256 people
• City population: 569,344
• Metro: Raleigh-Cary, NC
• Population (ZIP): 81,419
• Household income: $67,932
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 3499.0

Population outlook (Wake County) Hauer SSP2

• Today (2025): 1,293,152 people
• By 2030: 1,428,223 · +10.4%
• By 2040: 1,698,188 · +31.3%
• By 2050: 1,955,807 · +51.2%
• By 2075: 2,520,273 · +94.9%
• By 2100: 2,893,335 · +123.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 59% Hispanic / Latino 20% White 15% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1% Dominican 1%
• Common ancestry: Lithuanian 1% Slovak 1% Serbian 1%
• Foreign-born: 14% · Canada
• Languages at home: 77% English-only · Spanish 18% Arabic 1% French/Haitian/Cajun 1%

Political lean MEDSL · Wake

• 2024 margin: Strong D (+25.5) · D 61.9% · R 36.4% · Other 1.7%
• 2008→2024 swing: +11.1pp toward D · 2008: 14.4pp · 2024: 25.5pp
• All cycles: 2024: D+25.5 2020: D+26.4 2016: D+20.5 2012: D+10.2 2008: D+14.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -131.88%
• Current HPI: 237.704
• Rent YoY: ▲ 0.20%
• Metro: Raleigh-Cary, NC
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

Industry mix (Fortune 500 HQ in NC)

Industry	F500 HQs	Revenue
▸Financial Services	2	$213B
▸Retail	2	$95B
▸Industrial Conglomerate	1	$38B
▸Metals / Steel	1	$35B
▸Utilities	1	$30B
▸Industrial Machinery	1	$19B

Price history

+168.0% since first listed

20 events — show timeline

• 2026-05-19 Listed $130,000 TMLS
• 2025-03-19 Sold (Public Records) $95,000 Public Records
• 2024-11-06 Listing Removed — TMLS
• 2024-10-30 Listed $110,000 TMLS
• 2016-12-16 Sold (Public Records) $50,000 Public Records
• 2016-12-16 Sold (MLS) $50,000 AMLSNC
• 2016-12-16 Sold (MLS) $50,000 TMLS
• 2016-11-05 Contingent — TMLS
• 2016-10-14 Listed $52,500 TMLS
• 2016-10-12 Listed $52,500 AMLSNC
• 2014-09-16 Sold (Public Records) $35,000 Public Records
• 2014-09-15 Sold (MLS) $35,000 TMLS
• 2014-09-10 Contingent — TMLS
• 2014-09-03 Listed $42,000 TMLS
• 2004-09-02 Sold (Public Records) $47,000 Public Records
• 1997-11-30 Sold (MLS) $56,500 TMLS
• 1997-08-16 Listed $58,900 TMLS
• 1991-07-08 Sold (Public Records) $48,500 Public Records
• 1990-01-08 Sold (Public Records) $48,500 Public Records
• 1987-03-05 Sold (Public Records) $48,500 Public Records

Property tax history

+6.1%/yr

Latest (2025): $1,197 · +0.4% YoY. Source: county tax records.