Property listing for 3810 Grey Harbor Dr #307, Raleigh, NC 27616
For SaleCondo

$135,000

3810 Grey Harbor Dr #307, Raleigh, NC 27616

Light-filled Loft Condo with Fireplace and Two Screened Porches

1 Bed · 1.5 Bath · 1,006 Sq Ft

Spacious 1BR + loft condo in North Raleigh — priced to move

1

Beds

1.5

Baths

1,006

Sq Ft

1986

Built

none

Garage

About 3810 Grey Harbor Dr #307

You’ll notice the vertical volume the moment you step inside this loft-style condo at Villages East — an intelligently arranged 1-bedroom with a true loft and a cozy fireplace that defines the upper-level living area. At 1,006 square feet the floor plan feels larger than typical one-bed condos: the loft is a flexible third space for a home office, guest sleep area, or intimate TV nook, and the fireplace gives that space curb appeal and year-round comfort.

Practical living stretches beyond the interior. This unit includes two screened-in porches that extend living outdoors without the pests — perfect for morning coffee, potting succulents, or creating a private reading spot. The building’s construction (frame with a shingle roof) and systems are typical of 1986 construction; HVAC is central with forced air and central AC. Surface, unassigned parking is available in the complex — convenient for residents and visitors.

Location is a standout: the condo sits in Northeast Raleigh with easy access to Capital Boulevard (about 0.5 miles), shopping at Triangle Town Center (1.2 miles), and everyday green space at Spring Forest Road Park (0.3 miles). Wake Technical Community College is roughly 2.5 miles away — a benefit for students or faculty looking for nearby housing. The unit has been owner-occupied since 2021 and shows the practical wear of lived-in comfort.

From an investment angle this listing is competitively priced at $135,000 (about $134/sqft). Comparable sales inside the same building have ranged higher in recent years — including a 2023 sale at Unit 306 and a remodeled two-bedroom sale in 2025 — which illustrates steady demand for condos here. For buyers seeking affordability without sacrificing location, this property delivers a rare combination: loft living, dual screened porches, and proximity to shopping and transit corridors. Buyers should verify HOA fees and review inspection reports (pending) to confirm condition and costs, but the package is an attractive option for first-time owners or rental investors seeking a compact, versatile unit in North Raleigh.

Home Highlights

Loft space with fireplaceTwo screened-in porches1,006 total square feetCompetitive list price at $135,000Owner-occupied since 2021Estimated rental income: ~$1,200/month

Property Features

Interior Features

  • 1 bedroom with loft space
  • 1.5 bathrooms
  • Fireplace in loft area
  • 1,006 square feet of living area
  • Central AC and forced-air heating
  • Condition: Average — occupied since 2021

Exterior & Lot

  • Two screened-in porches
  • Frame construction with shingle roof
  • Surface, unassigned parking lot
  • No attached garage
  • Building: Villages East Condominiums

Location & Neighborhood

  • Northeast Raleigh location
  • Triangle Town Center — 1.2 miles
  • Spring Forest Road Park — 0.3 miles
  • Wake Technical Community College — 2.5 miles
  • Easy access to Capital Blvd (0.5 miles)

Walkability & Recreation

  • Walkability Rating: 60/100 — Somewhat Walkable
  • Nearby parks and green spaces: Spring Forest Road Park (0.3 mi)
  • Shopping and restaurants within 1–2 miles (Triangle Town Center)
  • Public transit access and commuter routes close by
  • Neighborhood mix: residential, commercial, park

Neighborhood & Location

Northeast Raleigh offers a practical blend of shopping, parks, and commuter access. Residents enjoy close proximity to Triangle Town Center’s retail and dining options, quick trips to Spring Forest Road Park for outdoor recreation, and straightforward access to Capital Boulevard for commuting. The area mixes established residential pockets with convenient commercial corridors and local institutions like Wake Technical Community College. It’s a neighborhood favored by buyers seeking affordability without giving up access to city amenities.

Market Insights

This sector of Northeast Raleigh currently reads as a balanced to slightly seller-leaning market for condominiums. Inventory is tight — roughly 2.5 months of supply — and average days on market sits near 45 days, which points to steady demand without the frenzy of a hot market. Median sale price across the area is about $366,000, though condos here trade well below that median due to affordability and product mix. Recent appreciation shows about a 5% uptick in the past year and roughly 25% over five years, indicating moderate but consistent growth. Within the Villages East complex, recent sales (2023–2025) have sold at price-per-square-foot metrics north of this list price, which suggests upside potential for buyers who plan modest cosmetic updates.

Condo product typically moves faster than comparable single-family homes in this corridor because of price-sensitive buyers and renters seeking proximity to employers and retail corridors. With an estimated rent near $1,200/month and a gross rental yield above 10%, investors will find this unit attractive; owner-occupants will benefit from lower entry cost and convenient access to Triangle Town Center and public transit. Given moderate appreciation, low inventory, and strong local demand for affordable units, now is an opportunistic time to consider this condo, provided buyers complete standard due diligence on HOA rules and property condition.

Nearby Schools

Wake Forest High School

High

8/10

East Millbrook Middle

Middle

3/10

Wakefield Elementary

Elementary

5/10

Walkability & Recreation

60
Walkability
75
Recreation

Very good access to parks and urban amenities with Spring Forest Road Park (0.3 miles) and shopping at Triangle Town Center (1.2 miles); nearby green space and transit make daily recreation and errands convenient.

Investment Highlights

  • Affordable price point at $135,000
  • Desirable loft space with fireplace
  • Two screened-in porches for additional outdoor living
  • Proximity to major shopping centers and parks
  • Steady market appreciation with 5% increase over the past year

Key Findings

  • Assessed value of $172,159 in 2025
  • Annual property tax of $1,521 in 2025
  • Zoned RX-3 allowing residential mixed-use
  • Recent comparable sales range from $167,000 to $200,000
  • Average days on market in the area: 45 days

Things to Consider

  • Built in 1986; potential for aging infrastructure
  • Middle school rating of 3/10 may impact family buyer interest
  • HOA fees and regulations should be reviewed

Opportunity Analysis

Affordable condo in a prime North Raleigh location with desirable features and steady market appreciation. Suitable for first-time buyers or investors seeking rental income.

Potential Use Scenarios

  • Ideal for first-time homebuyers seeking affordability
  • Potential rental property with steady demand in the area
  • Consider minor updates to enhance value and appeal

Risk Factors

  • Aging infrastructure due to 1986 construction
  • School ratings may deter some family buyers
  • HOA fees and regulations may impact ownership costs

Buyers should conduct independent due diligence before making any purchase decisions.

AI Valuation Estimate

Low

$160K

Midpoint

$170K

High

$180K

$169/SF estimated price per square foot

82% confidence

Sales comparison approach using recent sales of similar units within the same complex. Adjusted for size, condition, and market trends.

As of 2026-03-08

This is a computer-generated estimate for informational purposes only and is not an appraisal or professional valuation.

Market & Area Data

Market Trends

Area Median Price$366,000
Avg Days on Market45 days
Inventory2.5 months
1-Year Appreciation+5.0%

Demographics

Population (1 mi)15,000
Median Income (1 mi)$65,000

Steady population growth with increasing demand for affordable housing options. Walkability Rating estimate: 60/100.

Nearby Points of Interest

  • Triangle Town Center (1.2 mi)
  • Spring Forest Road Park (0.3 mi)
  • Wake Technical Community College (2.5 mi)

Close proximity to shopping centers, parks, and educational institutions. Easy access to major highways and public transportation.

School District

DistrictWake County Public School System
ElementaryWakefield Elementary (5/10)
MiddleEast Millbrook Middle (3/10)
HighWake Forest High School (8/10)

Market data is based on aggregated public records and may not reflect real-time conditions.

Property Details

Building Details

Year Built1986
Constructionframe
Stories2
Roofshingle
Heatingforced air
Coolingcentral AC
Basementnone
FireplaceYes
Conditionaverage

Lot & Site

Parkingsurface

Utilities

Waterpublic
Sewerpublic
ElectricDuke Energy
GasPiedmont Natural Gas

Zoning & Land Use

Zoning CodeRX-3
DescriptionResidential Mixed Use
JurisdictionCity of Raleigh

Allowed Uses

residentialmulti familycommercial
Current Useresidential
Assessor UseCondominium

Tax & Sale History

Tax Assessment

Total Assessed$172,159
Improvements$172,159
Annual Tax (2025)$1,521

Sale History

2021-02-01$110,000

$109.34/SF

Arm's length transaction

1994-03-01$58,000

$57.67/SF

Arm's length transaction

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