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).
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.
See the properties helping shape the valuation.
Comparable sales
- 76 SF larger
- 53 years newer
- 90 SF larger
- 53 years newer
- 222 SF larger
- 56 years newer
A 1952 modern on 0.44 acres.
Building
Site & utilities
South Central
Researched nearby locations
Location
709 E Lenoir St, Unit 100, Raleigh, NC 27601
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.
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.
A factual market snapshot around 709 E Lenoir St, Unit 100.
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.
Residential-10
Zoning
Research-indicated uses
- Residential
- Multi Family
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
- 431 SF larger
- 0.5 additional bathrooms
- 6 SF larger
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
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
Sources & research confidence.
See where the property research came from and how confidence varies by field.