3027 Huntleigh Dr · Raleigh, NC 27604

$125,000

1 bd · 1.0 ba · 558 sqft · Condo public records · 46 Days on market

Built 1983 $201/mo HOA · 17% of rent

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Why this score? — see what drove the D 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 +11.3/30.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• 1% rule +4.7/10.0
• Livability +4.2/5.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

* * * PRICE IMPROVEMENT * * * Don't miss out on this fabulous first time home buyer or investment property just minutes from downtown Raleigh. Desirable 3rd (top) floor loft style condo with deck overlooking the lake and private wooded views. Featuring stylish spiral staircase to versatile loft space that could be used as a home office/flex space open to below. Entertaining is easy with a galley kitchen offering a large raised breakfast bar and a separate eat-in dining area. Lots of natural light with soaring cathedral ceilings and transom windows. Freshly painted throughout with stunning light toned -wide plank LVP flooring on main floor. New carpet and updated light fixtures. Large w

Key facts

• $201 HOA
• Parking
• Built 1983

Property features AI

Finance

• HOA & community: Condo association (Lakeside Condominium Associates); Monthly association fee; Association fee covers maintenance of grounds and trash

Exterior

• Parking: On-site open parking (1 space) in parking lot; outside
• Utilities: Public water; Public sewer
• Home design: Multifamily property; One-and-a-half levels; OX-4 zoning
• Construction: Wood siding; Asphalt roof; Slab foundation; Built with multi-family structure
• Exterior features: Deck; Balcony; 2+ common walls (multifamily; no one above)

Interior

• Kitchen: Dishwasher; Electric oven; Refrigerator; Breakfast bar; Eat-in kitchen
• Bedrooms: 1 bedroom (main level)
• Flooring: Carpet; Luxury vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric forced air heating; Central air; Heat pump; Ceiling fan(s)
• Interior features: Bathtub/shower combination; Breakfast bar; Cathedral ceilings; Ceiling fan(s); Eat-in kitchen; Open floorplan; Smooth ceilings; Storage; Walk-in closet(s)
• Laundry & utility: Washer and dryer in unit; Laundry closet; Water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $-45 ($-539/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (6.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (3.3% below list).
• Recommended offer: $117k (6.4% below list) — sets the bar for cash-flow.
• Cap rate 5.9% 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.
• Zoned schools: Brentwood Elementary (math 32% / reading 37%, grade F, #835 of 1,410 statewide, top 62%, 389 students, 72% FRL); East Millbrook Middle (math 17% / reading 27%, grade F, #416 of 475 statewide, top 89%, 769 students, 73% FRL); Heritage High (math 72% / reading 70%, grade B+, #116 of 535 statewide, top 22%, 1,811 students, 25% FRL) — zoned schools average 57% FRL vs 30% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 42% at this address vs 56% district-wide (-14 pts) — the specific schools serving this property underperform the Wake County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.3%/yr); 403 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 $864 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 46 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $31k; list at $125k implies a 303% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 55% 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 $117,060 (6.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
10. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
11. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
12. 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.
13. 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.
14. 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: 0.97% ✗
• Cap rate: 5.86%
• Cash-on-cash: -1.54%
• DSCR: 0.93
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -22.7%
• Equity multiple: 0.24×
• Total profit: $-26,559
• Equity at exit: $18,638

10-year hold

• IRR: -30.0%
• Equity multiple: -0.15×
• Total profit: $-40,091
• Equity at exit: $10,808

Cash invested: $35,000 (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 27604

• Rents YoY: -0.3%
• Active inventory: 403
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,209 high
• Mortgage (P&I): −$656
• Tax from tax record: −$91 /mo · $1,097/yr
• Insurance: −$52
• HOA: −$201
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $-45

Break-even live

Break-even rent $1,266

Max offer price $117,060

Occupancy floor 99%

Sensitivity live

Price	-10% $26	-5% $-10	+0% $-45	+5% $-80	+10% $-116
Rent	-10% $-140	-5% $-93	+0% $-45	+5% $3	+10% $51
Rate	-1.0pp $18	-0.5pp $-13	base $-45	+0.5pp $-77	+1.0pp $-110

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3065 Huntleigh Dr Raleigh, NC	—	1.0	512	$1,095	$2.14	15d	1	0.09mi
3081 Huntleigh Dr Raleigh, NC	1.0	1.0	590	$1,250	$2.12	13d	1	0.09mi
3071 Huntleigh Dr Raleigh, NC	—	1.0	512	$1,150	$2.25	13d	1	0.09mi
2911 Mid-Century Dr Raleigh, NC	3.0	1.0–2.0	1038	$1,630	$1.57	2d	37	0.43mi
2717 Capital Blvd Raleigh, NC	1.0	1.0	296	$1,116	$3.76	3d	9	0.73mi
4219 Brockton Dr Raleigh, NC	1.0–2.0	1.0–1.5	800	$1,084	$1.35	3d	6	1.06mi
800 Moratuck Dr Raleigh, NC	1.0	2.0	750	$1,100	$1.47	24d	1	1.27mi
2080 Brentmoor Dr Raleigh, NC	1.0	1.0	735	$1,325	$1.80	13d	1	1.30mi
2080 Brentmoor Dr Raleigh, NC	1.0	1.0	735	$1,325	$1.80	24d	1	1.30mi
4000 Saint James Church Rd Raleigh, NC	1.0–2.0	1.0	838	$840	$1.00	24d	1	1.49mi

HOA detail condo

• Monthly dues: $201 · $2,412/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-21
   days on market $125,000 Active 46 DOM
2. 2026-06-18
   days on market $125,000 Active 43 DOM
3. 2026-06-17
   days on market $125,000 Active 42 DOM
4. 2026-06-16
   pricedays on market $125,000 Active 41 DOM
5. 2026-06-15
   days on market $134,000 Active 40 DOM
6. 2026-06-13
   days on market $134,000 Active 38 DOM
7. 2026-06-13
   pricedays on market $134,000 Active 37 DOM
8. 2026-06-10
   price $139,000 Active 34 DOM
9. 2026-06-09
   days on market $142,000 Active 34 DOM
10. 2026-06-08
    days on market $142,000 Active 33 DOM
11. 2026-06-07
    days on market $142,000 Active 32 DOM
12. 2026-06-05
    days on market $142,000 Active 29 DOM
13. 2026-06-03
    days on market $142,000 Active 28 DOM
14. 2026-06-02
    days on market $142,000 Active 27 DOM
15. 2026-06-02
    price $142,000 Active 26 DOM
16. 2026-06-01
    days on market $145,000 Active 26 DOM
17. 2026-05-31
    days on market $145,000 Active 25 DOM
18. 2026-05-11
    price $145,000
19. 2026-05-06
    listed $150,000 Active
20. 1999-12-03
    soldstatus $31,000
21. 1993-03-03
    soldstatus $45,000
22. 1992-09-01
    soldstatus $45,000
23. 1992-09-01
    soldstatus $47,500
24. 1985-06-18
    soldstatus $45,000

ⓘ 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: $1,097 · $91/mo
• Projected year-2 tax: $1,097 · $91/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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 55% 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: $14,508
• − Mortgage interest: −$7,002
• − Property taxes: −$1,097
• − Insurance: −$625
• − Repairs & maintenance: −$1,161
• − Management: −$1,161
• − HOA: −$2,412
• − Depreciation: −$3,636
• Taxable loss: −$2,586
• Est. tax savings @ 24.0%: +$621
• After-tax cash flow: $81/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): 44,514
• Household income: $70,375
• Rent vs Own: 45.2% rent · 54.8% own
• Severe rent burden: 1951.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 38% Black 30% Hispanic / Latino 21% Two or more races 8% Asian 7%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2% Cuban 1% Dominican 3%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 21% · Canada, Vietnam, South Korea
• Languages at home: 72% English-only · Spanish 18% Vietnamese 4% Other Indo-European 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: ▼ -346.76%
• Current HPI: 234.0741
• Rent YoY: ▼ -0.27%
• 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

+222.2% since first listed

7 events — show timeline

• 2026-05-11 Price Changed $145,000 TMLS
• 2026-05-06 Listed $150,000 TMLS
• 1999-12-03 Sold (Public Records) $31,000 Public Records
• 1993-03-03 Sold (Public Records) $45,000 Public Records
• 1992-09-01 Sold (Public Records) $47,500 Public Records
• 1992-09-01 Sold (Public Records) $45,000 Public Records
• 1985-06-18 Sold (Public Records) $45,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $1,097 · +0.4% YoY. Source: county tax records.