Sales comparison approach using recent sales of similar units within the same complex. Adjusted for size, condition, and market trends.
Light-filled Loft Condo with Fireplace and Two Screened Porches
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.
See the properties helping shape the valuation.
Comparable sales
- 16 SF smaller
- Same year built
- 254 SF smaller
- Same year built
- 138 SF smaller
- 1 additional bedroom
- 0.5 additional bathrooms
- Same year built
A 1986 loft style.
Building
Site & utilities
Northeast Raleigh
Researched nearby locations
Location
3810 Grey Harbor Dr #307, Raleigh, NC 27616
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.
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.
A factual market snapshot around 3810 Grey Harbor Dr #307.
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.
Residential Mixed Use
Zoning
Research-indicated uses
- Residential
- Multi Family
- Commercial
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
- 254 SF smaller
- 138 SF smaller
- 1 additional bedroom
- 0.5 additional bathrooms
What the research supports — and what is still worth verifying.
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
Still worth verifying
Routine buyer due diligence items; these are not known defects.
- Confirm HOA fees and regulations
- Verify condition of HVAC and appliances
- Review recent inspection reports
- Assess potential for rental income
What stands out about this property.
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
Sources & research confidence.
See where the property research came from and how confidence varies by field.