Homes/North Carolina/Raleigh/1535 Caraleigh Mills Ct Unit 218
CompCasa Property Analysis · condo

1535 Caraleigh Mills Ct Unit 218

Spacious Historic Loft at Caraleigh Mills — 2BR/2BA, 1,790 SF

A large 1892 mill-conversion condo with exposed brick and premium amenities

2 beds2 baths1,790 sq ftBuilt 1892none
CompCasa valuation analysis
Estimated market value
$525,000
Low $500,000 · Midpoint $525,000 · High $550,000
Confidence85%Sales comparison approach
Last recorded sale$387,500Jun 15, 2017
Assessed value$365,3322024 assessment
CompCasa estimate$525,000Mar 7, 2026
Estimate vs. last recorded sale+$137,500 / +35.5%
$500,000$525,000 midpoint$550,000
Price / sq ft$293
Median sale price$500,000
Avg days on market30 days
Inventory2.5 months

Sales comparison approach using recent sales within Caraleigh Mills. Adjusted for unit size, condition, and amenities.

About the property

Spacious Historic Loft at Caraleigh Mills — 2BR/2BA, 1,790 SF

This is not your average condo — Unit 218 occupies a generous 1,790 square feet inside the restored 1892 Caraleigh Mills complex, where original brick and mill-scale proportions meet carefully executed updates. Tall ceilings, original hardwood floors and sections of exposed brick create an immediate sense of scale and character; the floorplan was reworked to maximize living space without losing historic detail. The renovated kitchen and bathrooms use contemporary finishes that respect the building’s patina while delivering daily practicality.

On arrival you pass through a gated entrance into landscaped common grounds. The building’s amenities read like a neighborhood perk: a resort-style pool, a modern fitness center, a community garden and an on-site dog park are all included in the complex lifestyle. Parking is surface, unassigned, offering easy guest access and a low-hassle routine for owners. Interior systems are maintained — central AC and a heat pump provide year-round comfort — and the unit’s condition is listed as excellent.

Location is a principal advantage. Caraleigh Mills sits less than a mile from Downtown Raleigh (approximately 1.5 miles) and directly across from Dorothea Dix Park (0.5 miles), with the NC State Farmers Market only a short walk away (0.7 miles). Those distances make daily errands, weekend festivals and outdoor time a practical part of life here. The Caraleigh neighborhood is experiencing steady appreciation and strong buyer demand, a trend reflected in recent in-complex sales and strong rental interest.

From an investment and lifestyle perspective this unit strikes a rare balance: a historic loft plan with living area comparable to many single-family homes, plus gated-community conveniences. HOA fees (noted in the offering materials) fund shared amenities and gated access; prospective buyers should verify inclusions. Recent sales inside Caraleigh Mills suggest a mid-market value near $525,000 — a compelling entry point for buyers seeking a distinctive, amenity-rich residence close to Raleigh’s cultural and recreational anchors.

Comparable evidence

See the properties helping shape the valuation.

Comparable sales

01Sold price$545,000
Property address1535 Caraleigh Mills Ct Unit 136, Raleigh, NC 27603
2 bed2 bath1,140 sq ftBuilt 18920 mi$478/SF
Sold Feb 19, 2026
Subject difference
  • 650 SF smaller
  • Same year built
Research comparison noteRecently renovated unit with modern kitchen and baths.
02Sold price$595,000
Property address1535 Caraleigh Mills Ct Unit 111, Raleigh, NC 27603
2 bed2 bath1,440 sq ftBuilt 18920 mi$413/SF
Sold Oct 1, 2025
Subject difference
  • 350 SF smaller
  • Same year built
Research comparison noteUpdated unit with high-end finishes and original features.
03Sold price$540,000
Property address1535 Caraleigh Mills Ct Unit 105, Raleigh, NC 27603
2 bed2 bath1,326 sq ftBuilt 18920 mi$407/SF
Sold Jun 12, 2025
Subject difference
  • 464 SF smaller
  • Same year built
Research comparison noteFirst-floor unit with original hardwood floors and modern updates.
Comp methodology: Comparable sales and rentals within Caraleigh Mills were used to estimate current market value and rental potential.
Property details

A 1892 historic loft.

Building

Year built1892
ConstructionBrick
RoofRubber
Heatingheat pump
Coolingcentral AC

Site & utilities

Garagenone
Stories2
ConditionExcellent
BasementNone
FireplaceNo
Improvement notesOriginal hardwood floors, exposed brick walls, updated kitchen and bathrooms
TopographyLevel
ParkingSurface Lot
Parking spaces2
Parking notesUnassigned parking in community lot
AccessAccess via gated community entrance
WaterPublic
SewerPublic
ElectricDuke Energy
GasPiedmont Natural Gas
Location & nearby

Caraleigh

Researched nearby locations

Dorothea Dix Park (0.5 mi)
NC State Farmers Market (0.7 mi)
Downtown Raleigh (1.5 mi)

Location

1535 Caraleigh Mills Ct Unit 218, Raleigh, NC 27603

View in Google Maps
Editorial neighborhood context

Caraleigh combines historic mill character with immediate access to downtown energy and green space. Residents enjoy a short walk to Dorothea Dix Park and the NC State Farmers Market, plus easy drives into Downtown Raleigh for restaurants, theaters and offices. The Caraleigh Mills community offers gated security and on-site amenities that foster a small-campus feel while placing city attractions within quick reach. The neighborhood’s steady appreciation and local investment make it appealing to owner-occupants and investors alike.

Nearby access summary

Excellent access to outdoor recreation with Dorothea Dix Park only 0.5 miles away, the NC State Farmers Market 0.7 miles away, and community amenities including a pool, gym, garden and dog park on-site.

ElementaryFarmington Woods Elementary (8/10)
Middle schoolMartin Middle (4/10)
High schoolNeedham Broughton High (8/10)
School districtWake County Public School System
Market context

A factual market snapshot around 1535 Caraleigh Mills Ct Unit 218.

Median sale price$500,000
Avg days on market30 days
Inventory2.5 months
1-year appreciation5.0%
5-year appreciation25.0%
Editorial market perspective

The Caraleigh/Caraleigh Mills micro-market is firmly favoring sellers right now. Inventory across the corridor sits at roughly 2.5 months — below a balanced-market threshold — and average days on market run near 30 days, signaling steady demand for well-priced, move-in-ready units. Triangle MLS metrics show a one-year appreciation of about 5% and a five-year gain around 25%; area median sale price hovers near $500,000. Condos and lofts in Caraleigh Mills have been competitive: recent on-site closings ranged from roughly $540,000 to $595,000 depending on size and finish level, and lease comparables indicate healthy rental interest with rents in the $2,100–$2,350 range for similar two-bedroom units. Given limited inventory, proximity to Dorothea Dix Park and Downtown Raleigh, and the strong amenity set, this is currently a good window for sellers to capture solid pricing and for buyers to secure a distinctive property before further appreciation. Buyers should move decisively and verify HOA terms, while investors will find favorable rental yields relative to the purchase comps.

Zoning & land use

Residential-10

Zoning

Zoning codeR-10
DescriptionResidential-10
JurisdictionCity of Raleigh
Assessor useCondominium
Current useResidential

Research-indicated uses

  • Residential
  • Multi Family
Verify with the jurisdiction: Zoning, setbacks, and allowed-use summaries are research indicators—not legal advice or a determination that a specific use is permitted.
Tax & sale history

Assessment data and recorded transactions.

Assessed value is kept visually separate from the CompCasa market-value estimate.

Tax assessment

Assessed land$0
Assessed improvements$365,332
Total assessed$365,332
Assessment year2024
Annual property tax$1,606
Tax year2024

Sale history

2017-06-15$387,500 · $216/SF
Rental market context

Rental references from the research record.

Context only—not an investment recommendation or guarantee of achievable rent.

Supporting lease references

01Monthly rent$2,350/mo
Property address1535 Caraleigh Mills Ct Unit 118, Raleigh, NC 27603
2 bed2 bath1,344 sq ft$1.75/SF
Leased Feb 13, 2025
Subject difference
  • 446 SF smaller
Research comparison noteFurnished unit with deck and courtyard access.
02Monthly rent$2,100/mo
Property address1535 Caraleigh Mills Ct Unit 215, Raleigh, NC 27603
2 bed2 bath1,326 sq ft$1.58/SF
Leased Oct 19, 2025
Subject difference
  • 464 SF smaller
Research comparison noteUpdated unit with modern amenities and historic charm.
Research findings & due diligence

What the research supports — and what is still worth verifying.

Key findings

  • Built in 1892 with original hardwood floors and exposed brick
  • Assessed value of $365,332 in 2024
  • Last sold in 2017 for $387,500
  • Estimated current market value between $500,000 and $550,000
  • Located within 1.5 miles of Downtown Raleigh

Still worth verifying

Routine buyer due diligence items; these are not known defects.

  • Confirm HOA fees and inclusions
  • Verify any historic preservation restrictions
  • Review recent inspection reports
  • Assess condition of HVAC and other major systems
Highlights & features

What stands out about this property.

Interior Features

  • 1,790 square feet of living space
  • Original hardwood floors
  • Exposed brick walls and mill-scale ceilings
  • Renovated kitchen with contemporary finishes
  • Updated bathrooms
  • Open living and dining areas
  • Central AC and heat pump
  • Excellent overall condition

Exterior & Lot

  • Historic brick construction (built 1892)
  • Gated community entrance
  • Resort-style pool and landscaped grounds
  • Surface unassigned parking
  • Community garden and dog park
  • Level site with pedestrian pathways

Location & Neighborhood

  • Caraleigh neighborhood — Caraleigh Mills community
  • 0.5 mi to Dorothea Dix Park
  • 0.7 mi to NC State Farmers Market
  • Approximately 1.5 mi to Downtown Raleigh
  • Easy access to Lake Wheeler Road (0.2 mi)

Walkability & Recreation

  • Walkability Rating: 78/100 — Very Walkable
  • Dorothea Dix Park (0.5 mi) for walking and events
  • NC State Farmers Market (0.7 mi) for weekend shopping
  • Downtown Raleigh (1.5 mi) for restaurants and cultural venues
  • On-site pool, fitness center and dog park
Research transparency

Sources & research confidence.

See where the property research came from and how confidence varies by field.

View sources & confidence
1
Realtor.com listing for Unit 218View source
2
Zillow tax history for Unit 204View source
3
Raleigh Realty listing for Unit 136View source
4
Raleigh Realty listing for Unit 105View source
5
Zillow listing for Unit 118View source
6
Zillow listing for Unit 215View source
Important: This analysis is AI-assisted and may contain inaccuracies. It is not a formal appraisal. Verify all critical facts with primary records, licensed professionals, and on-site inspection before making purchase decisions.