Sales comparison approach using recent sales of similar 4-bedroom condos in the area. Adjusted for recent renovations and proximity to NCSU.
Renovated 4BR/4BA Condo Steps from NCSU — Turnkey Investment
This bright, freshly remodeled 4-bedroom, 4-bath condominium at 1431 Collegiate Cir #101 is built for shared living and investor appeal. At 1,219 square feet the layout is optimized for privacy: every bedroom includes its own full bath and a walk-in closet—an ideal configuration for roommates, students, or faculty wanting separate suites. The unit was comprehensively updated in 2023 with new cabinets, countertops, appliances, paint, and flooring so systems and finishes feel current and low-maintenance.
Practical upgrades underpin long-term value: the HVAC was replaced in 2019, the water heater in 2021, and the roof in 2018. These near-term capital improvements reduce surprise expenses and help the unit rent competitively. The condo sits in a community with conveniences that renters prize—an on-site swimming pool, basketball courts, and grilling areas—plus open parking assigned nearby.
Location is a primary asset. North Carolina State University is about a half-mile away with an NCSU bus stop within walking range, making this an easy commute for students and staff. Everyday errands are close at hand: Mission Valley Shopping Center and a Food Lion are within roughly a mile, and Lake Johnson Park’s trails and water access sit about 1.5 miles away for weekend recreation.
From an investment perspective the math is compelling: recent comps for similar 4BR condos in this complex trade in the ~$260k–$280k range (median around $275k), and lease data indicate market rents near $2,200/month (roughly $1.80/sqft), supporting a healthy gross yield. The unit is vacant and turnkey, positioned for immediate placement on the rental market or a quick owner-occupancy conversion. Buyers should confirm HOA fees and rental policies as part of due diligence, but the combination of recent renovations, strong proximity to NCSU, and community amenities makes this a standout pick for investors and buyers seeking low-effort, high-demand housing close to campus.
See the properties helping shape the valuation.
Comparable sales
- Same living area
- Same year built
- Same living area
- 1 year newer
A 1998 transitional.
Building
Site & utilities
University Commons Lake Park
Researched nearby locations
Location
1431 Collegiate Cir #101, Raleigh, NC 27606
University Commons Lake Park is a student- and faculty-oriented pocket with a blend of campus convenience and everyday amenities. The walkable proximity to North Carolina State University attracts steady rental demand; bus stops and nearby shopping at Mission Valley make errands straightforward. Outdoor options include Lake Johnson Park for paddling and trails, while community green space and on-site recreation areas encourage a social, active lifestyle. Local schools include highly rated Combs Elementary and Athens Drive High, though the middle school rating is lower—making the area particularly popular with investors and college-affiliated residents.
Excellent access to outdoor recreation with Lake Johnson Park about 1.5 miles away, community pool and basketball courts on-site, and local trails for walking and biking.
A factual market snapshot around 1431 Collegiate Cir #101.
Wake County and the University Commons Lake Park corridor remain in favor with buyers, and current data point to a seller’s market characterized by low inventory (about 2.5 months of supply) and steady appreciation. The neighborhood’s median sale price sits around $275,000; comparable 4-bedroom condo sales in the immediate complex have closed in the $260k–$280k band. Average days on market for similar units are near 30 days, reflecting brisk demand—especially for turnkey, recently-updated residences that appeal to NCSU tenants. For investors, rental comparables show monthly rents near $2,200 and rent-per-square-foot around $1.80, producing a gross rental yield near 9.8% on current asking. This is a favorable time to consider a purchase if you value immediate rental income or proximity to campus-driven demand, but beware of competition from similar units and confirm HOA rules and fee trajectories. Overall, this property fits market conditions where upgraded, move-in-ready condos sell quickly and command premium rents due to university adjacency.
Residential-10
Zoning
Research-indicated uses
- Single Family
- Multi Family
- Accessory Dwelling Unit
Assessment data and recorded transactions.
Assessed value is kept visually separate from the CompCasa market-value estimate.
Tax assessment
Sale history
Rental references from the research record.
Context only—not an investment recommendation or guarantee of achievable rent.
Supporting lease references
- Same living area
What the research supports — and what is still worth verifying.
Key findings
- Assessed value for 2025 is $267,996 with annual taxes of $2,357
- Comparable 4-bedroom condos sold between $260,000 and $280,000
- Average days on market for similar properties is 30 days
- Located within walking distance to NCSU and shopping centers
Still worth verifying
Routine buyer due diligence items; these are not known defects.
- Confirm HOA fees and regulations
- Verify recent renovations and permits
- Review rental market conditions near NCSU
- Assess competition from similar units in the area
What stands out about this property.
Interior Features
- 4 bedrooms, 4 full bathrooms (each bedroom ensuite)
- 1,219 square feet of remodeled living space (2023)
- New cabinets, countertops, appliances, paint, and flooring (2023)
- Walk-in closets in each bedroom
- Central AC (electric heat pump); HVAC replaced 2019
- Water heater replaced 2021; no fireplace
Exterior & Lot
- Open parking with nearby assigned spaces
- Community swimming pool
- Basketball courts and grilling areas
- Shingle roof replaced 2018
- Wood-frame construction (1998)
Location & Neighborhood
- 0.5 miles to North Carolina State University (NCSU)
- NCSU bus stop within walking distance
- Mission Valley Shopping Center and Food Lion ~1.2 miles
- Lake Johnson Park approx. 1.5 miles
- Located in University Commons Lake Park neighborhood
Walkability & Recreation
- Walkability Rating: 65/100 — Some walkable amenities and transit access
- Nearby parks and green spaces: Lake Johnson Park (1.5 miles)
- Hiking and biking trails within 2 miles at Lake Johnson
- Community pool and basketball courts on-site
- Running/walking paths and outdoor recreation close by
Sources & research confidence.
See where the property research came from and how confidence varies by field.