Homes/North Carolina/Raleigh/709 E Lenoir St, Unit 100
CompCasa Property Analysis · condo

709 E Lenoir St, Unit 100

Loft3 Modern 2BR/2BA Condo with Rooftop Skyline Views

Contemporary downtown condo with premium finishes and rooftop terrace

2 beds2 baths1,026 sq ftBuilt 19520.44 acresnone
CompCasa valuation analysis
Estimated market value
$445,000
Low $430,000 · Midpoint $445,000 · High $460,000
Confidence85%Sales comparison approach
Last recorded sale$650,000Sep 29, 2023
Assessed value$396,7312024 assessment
CompCasa estimate$445,000Mar 7, 2026
Estimate vs. last recorded sale−$205,000 / −31.5%
$430,000$445,000 midpoint$460,000
Price / sq ft$434
Median sale price$450,000
Avg days on market30 days
Inventory2.5 months

Sales comparison approach using recent condo sales in downtown Raleigh. Adjusted for new construction premium and amenities. Income approach supports estimated rent of $2,200/month (GRM of ~20x).

About the property

Loft3 Modern 2BR/2BA Condo with Rooftop Skyline Views

At Loft3, smart design meets downtown energy. Unit 100 is a 2-bedroom, 2-bath residence occupying 1,026 square feet of carefully considered space in Raleigh’s South Central neighborhood. From the moment you step inside you notice construction that was specified for longevity — cold-formed steel framing — and premium hardware like Pella casement windows and an 8-foot sliding glass door that opens to a private balcony framing compact skyline views.

The open-plan living area centers on a modern kitchen finished with slab cabinetry, quartz countertops, stainless steel appliances, and a generously sized island with an integrated trash pull-out — ideal for casual entertaining or weekday dinners. Luxury vinyl plank flooring runs through the main living areas while the primary suite is arranged for comfort: a walk-through closet leads to a private bath appointed with a double vanity and a custom tile shower. The second bedroom and full bath provide flexible space for guests, a home office, or a hobby room.

Loft3 is a 21-unit collection designed for downtown lifestyles. Building amenities are thoughtful and urban-focused: a rooftop terrace with gas grill, fire pit, and lounge seating overlooks the city; secure lobby, elevator, and package room simplify daily comings and goings; indoor bike storage and ButterflyMX digital access cater to active, connected residents; and off-street parking includes a one-car carport with optional EV charging. HOA dues and condo governance will apply (current fee estimate: $250/month), and buyers should review association bylaws and parking arrangements.

Positioned less than a mile from Moore Square and City Market, this unit puts dining, nightlife, cultural venues, and the Raleigh Convention Center within easy reach. The project is offered by Grayson Homes, LLC and scheduled for completion in mid-2026, presenting an opportunity to secure new construction downtown. Comparable sales in the immediate area point to a mid-market value near $445,000, supported by strong rental demand (estimated rent roughly $2,200/month) for professionals seeking walkable access to downtown employers and entertainment.

Practical details matter: the property is delivered new, heat pump HVAC provides efficient heating and cooling, and the unit’s compact footprint is optimized for urban living. With downtown growth and limited condo inventory, Loft3 Unit 100 is positioned as a modern, durable, and amenity-forward option for buyers wanting a true Raleigh city address.

Comparable evidence

See the properties helping shape the valuation.

Comparable sales

01Sold price$439,900
Property address272 E Davie St, Raleigh, NC 27601
2 bed2 bath1,102 sq ftBuilt 20050.55 mi$399/SF
Sold Jan 23, 2026
Subject difference
  • 76 SF larger
  • 53 years newer
Research comparison noteSimilar 2BR/2BA condo with modern finishes; slightly larger
02Sold price$440,000
Property address250 E Davie St, Raleigh, NC 27601
2 bed2 bath1,116 sq ftBuilt 20050.55 mi$394/SF
Sold Nov 17, 2025
Subject difference
  • 90 SF larger
  • 53 years newer
Research comparison noteComparable 2BR/2BA unit with similar amenities
03Sold price$550,000
Property address301 Fayetteville St #3110, Raleigh, NC 27601
2 bed2 bath1,248 sq ftBuilt 20080.73 mi$441/SF
Sold Feb 25, 2026
Subject difference
  • 222 SF larger
  • 56 years newer
Research comparison noteLarger 2BR/2BA condo with premium downtown location
Comp methodology: Focused on 2BR/2BA condos within 0.75 miles in downtown Raleigh sold or leased in the last 6 months for maximum relevance
Property details

A 1952 modern on 0.44 acres.

Building

Year built1952
ConstructionCold Formed Steel
RoofFlat
Heatingheat pump
Coolingheat pump

Site & utilities

Lot size0.44 acres
Garagenone
Stories1
ConditionNew
BasementNone
FireplaceNo
Improvement notes2 bedrooms, 2 bathrooms, luxury vinyl flooring, modern kitchen with quartz countertops and stainless steel appliances, expansive Pella casement windows, 8' sliding glass door to balcony with downtown views
Lot area19,166.4 sq ft
TopographyLevel
FrontageFrontage on E Lenoir St
ParkingCarport
Parking spaces1
Parking notes1-car carport space
AccessStandard residential access from E Lenoir St
WaterPublic
SewerPublic
ElectricAvailable
GasAvailable
Location & nearby

South Central

Researched nearby locations

Moore Square (0.5 mi)
City Market (0.6 mi)
Red Hat Amphitheater (1.2 mi)
Raleigh Convention Center (1.1 mi)
Duke Energy Center for the Performing Arts (0.9 mi)

Location

709 E Lenoir St, Unit 100, Raleigh, NC 27601

View in Google Maps
Editorial neighborhood context

South Central (East Side) is one of Raleigh’s most active downtown neighborhoods, blending vintage blocks with new residential projects and walkable streets. Residents enjoy short walks to Moore Square and City Market, easy access to performing arts venues, and a compact urban grid filled with restaurants, coffee shops, and boutique retailers. Regular cultural programming at nearby plazas and seasonal events at the amphitheater create a lively calendar. With excellent transit connections and highly rated schools in the Wake County system, the area appeals to professionals, families, and investors seeking a connected downtown lifestyle.

Nearby access summary

Excellent downtown recreation access with Moore Square and City Market within a half-mile, cultural venues like Red Hat Amphitheater nearby, and urban greenways and plazas for walking, biking, and outdoor gatherings.

ElementaryHunter Elementary School (8/10)
Middle schoolLigon Middle School (7/10)
High schoolWilliam G Enloe High School (7/10)
School districtWake County Public School System
Market context

A factual market snapshot around 709 E Lenoir St, Unit 100.

Median sale price$450,000
Avg days on market30 days
Inventory2.5 months
1-year appreciation5.0%
5-year appreciation25.0%
Editorial market perspective

Downtown Raleigh currently favors sellers — inventory sits near 2.5 months and average days on market is about 30 days. New-construction condos in the core are attracting steady interest from urban professionals and investors, driving a modest 5% appreciation over the past year and roughly 25% over five years. The immediate South Central corridor shows a median sale price around $450,000, with recent 2BR/2BA closings clustered between ~$440K and $550K depending on size and premium location. Condominiums like this one typically move faster than detached homes, benefiting from constrained supply and strong rental demand; Loft3’s estimated rent of about $2,200/month supports an attractive income profile for investors (gross yield ~5.9%).

That said, buyers should factor in timing and carrying costs: construction completion is projected for mid-2026 and HOA fees (currently estimated at $250/month) and limited parking (one carport) are important considerations. For owner-occupants seeking a downtown lifestyle and for investors targeting stable rental cashflow, current market dynamics make this a favorable window to secure new-construction inventory before additional supply is absorbed.

Zoning & land use

Residential-10

Zoning

Zoning codeR-10
DescriptionResidential-10
JurisdictionCity of Raleigh
Assessor useCondominium
Current useResidential
SetbacksStandard residential setbacks per R-10 zoning

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$396,731
Assessed improvements$0
Total assessed$396,731
Assessment year2024
Annual property tax$3,466
Tax year2024

Sale history

2023-09-29$650,000 · $633/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$2,100/mo
Property address444 S Blount St #316, Raleigh, NC 27601
2 bed2.5 bath1,457 sq ft$1.44/SF
Leased Aug 1, 2025
Subject difference
  • 431 SF larger
  • 0.5 additional bathrooms
Research comparison noteLarger unit with additional half bath; adjusted for size
02Monthly rent$2,000/mo
Property address243 New Bern Pl #301, Raleigh, NC 27601
2 bed2 bath1,032 sq ft$1.94/SF
Leased Jul 15, 2025
Subject difference
  • 6 SF larger
Research comparison noteSimilar size and layout; comparable rental rate
Research findings & due diligence

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

Key findings

  • Assessed value of $396,731 (land) with annual taxes of $3,466
  • Zoned R-10 allowing residential and multi-family uses
  • Comparable sales in downtown Raleigh range from $430K to $460K
  • Average days on market in area: 30 days (seller's market)

Still worth verifying

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

  • Confirm construction timeline and potential delays
  • Review HOA bylaws and regulations
  • Verify parking arrangements and availability
  • Assess market conditions closer to completion date
Highlights & features

What stands out about this property.

Interior Features

  • 2 bedrooms, 2 bathrooms
  • 1,026 sq ft modern floor plan
  • Slab cabinetry and large kitchen island
  • Quartz countertops
  • Stainless steel appliances
  • Luxury vinyl plank flooring
  • Pella casement windows
  • Primary suite with walk-through closet
  • Double vanity and custom tile shower in primary bath

Exterior & Lot

  • Private balcony with downtown skyline views
  • Rooftop terrace with gas grill, fire pit and lounge seating
  • Cold-formed steel construction for enhanced durability
  • Secure lobby and elevator
  • Off-street parking with 1-car carport (EV charging optional)
  • Level lot, 0.44 acres total site

Location & Neighborhood

  • South Central / East Side of downtown Raleigh
  • Walking distance to Moore Square (0.5 mi) and City Market (0.6 mi)
  • Close to Red Hat Amphitheater and Raleigh Convention Center
  • Walkability Rating: ~75/100
  • Developer: Grayson Homes, LLC
  • Part of a 21-unit Loft3 condominium collection

Walkability & Recreation

  • Walkability Rating: 75/100 — Some errands and many amenities on foot
  • Nearby parks and green spaces (Moore Square, City Market)
  • Hiking and biking routes accessible via downtown greenways
  • Red Hat Amphitheater and performing arts venues within 1.2 miles
  • Running/walking paths and urban plazas for outdoor activity
  • Community rooftop terrace for social recreation
Research transparency

Sources & research confidence.

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

View sources & confidence
1
MLS listing for 709 E Lenoir St, Unit 100View source
2
Zillow property details and tax historyView source
3
Raleigh Realty listing for 709 E Lenoir St, Unit 100View source
4
Administrative Site Review Application for E. Lenoir CondosView source
5
Redfin listing for 709 E Lenoir St, Unit 100View 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.