CompCasa Property Analysis · single_family

722 Powell Dr

Brand-New 3BR/3BA Cottage with Detached 2-Car Garage

Modern West Raleigh cottage steps from Powell Drive Park

3 beds3 baths1,792 sq ftBuilt 20252-car detached
CompCasa valuation analysis
Estimated market value
$640,000
Low $620,000 · Midpoint $640,000 · High $660,000
Confidence85%Sales comparison approach
Last recorded sale$644,900Oct 14, 2025
Assessed value$99,0002025 assessment
CompCasa estimate$640,000Mar 7, 2026
Estimate vs. last recorded sale−$4,900 / −0.8%
$620,000$640,000 midpoint$660,000
Price / sq ft$357
Median sale price$450,000
Avg days on market30 days
Inventory2.5 months

Sales comparison approach using recent listings and sales of similar new construction homes in West Raleigh. Adjusted for size, features, and location.

About the property

Brand-New 3BR/3BA Cottage with Detached 2-Car Garage

What sets 722 Powell Dr apart is its thoughtful combination of cottage scale and contemporary finishes — a freshly completed 1,792 sq ft home by Redeeming Development Group that places everyday conveniences within easy reach. The façade and proportions read like a classic West Raleigh cottage, but step inside and the home reveals a clean, modern palette: wide-plank-style flooring across the main level, a chef’s kitchen anchored by a generous island, stone countertops, and stainless-steel appliances. The plan was laid out with both entertaining and daily life in mind, providing clear sightlines from kitchen to living spaces and an efficient footprint that feels larger than its square footage suggests.

On the main level you’ll find a guest bedroom (ideal for visitors or a dedicated home office) and a full bathroom — a flexible arrangement that suits multi-generational living or frequent guests. Upstairs, the oversized primary suite delivers a private retreat with ample closet space and a well-appointed bath. Attention to contemporary needs shows in the detached two-car garage with EV-ready infrastructure and a drive approach off Powell Drive.

Location is a core feature here: Powell Drive Park sits about a block away for quick walks or weekend pick-up soccer, NC State University is approximately 1.5 miles, and Downtown Raleigh is roughly 3 miles — giving buyers fast access to campus energy, dining, and employment centers without sacrificing a quiet residential street. Quality schools nearby (Lufkin Road Middle, Adams Elementary, Athens Drive High) add tangible family appeal. The home is listed at $644,900 (about $360/sq ft), and comparable new builds on Powell Drive support this pricing bracket.

A practical note for buyers and lenders: this is brand-new construction — confirm final inspections and certificate of occupancy as part of your due diligence. With R-6 zoning, the lot supports accessory dwelling opportunities subject to permitting, offering future flexibility. For those seeking a modern, move-in-ready home tucked into one of Raleigh’s most walkable pockets, 722 Powell Dr presents a compelling blend of design, location, and long-term value.

Comparable evidence

See the properties helping shape the valuation.

Comparable sales

01Sold price$624,900
Property address724 Powell Dr, Raleigh, NC 27606
3 bed3 bath1,792 sq ftBuilt 20250.01 mi$349/SF
Sold Oct 15, 2025
Subject difference
  • Same living area
  • Same year built
Research comparison noteSimilar new construction home with identical specs and pricing.
02Sold price$634,900
Property address728 Powell Dr, Raleigh, NC 27606
3 bed3 bath1,792 sq ftBuilt 20250.02 mi$354/SF
Sold Oct 14, 2025
Subject difference
  • Same living area
  • Same year built
Research comparison noteComparable new construction with similar features and slightly higher pricing.
Comp methodology: Focused on recent new construction sales and nearby rental properties to establish market value and rental potential.
Property details

A 2025 cottage.

Building

Year built2025
ConstructionWood Frame
RoofArchitectural Shingle
Heatingforced air gas
Coolingcentral AC

Site & utilities

Garage2-car detached
Stories2
ConditionNew
BasementNone
FireplaceNo
Improvement notes3 bedrooms, 3 bathrooms, open layout, chef's kitchen with large island, stone countertops, stainless steel appliances, main-level guest room, oversized primary suite
TopographyLevel
ParkingDetached Garage
Parking spaces2
Parking notesTwo-car detached garage with EV-ready options
AccessStandard residential driveway from Powell Drive
WaterPublic
SewerPublic
ElectricDuke Energy
GasPiedmont Natural Gas
Location & nearby

West Raleigh

Researched nearby locations

Powell Drive Park (0.1 mi)
NC State University (1.5 mi)
Downtown Raleigh (3 mi)
Pullen Park (2 mi)
Cameron Village Shopping Center (2.5 mi)

Location

722 Powell Dr, Raleigh, NC 27606

View in Google Maps
Editorial neighborhood context

West Raleigh blends residential calm with quick access to campus life and downtown amenities. Tree-lined streets, neighborhood parks like Powell Drive Park and proximity to Pullen Park provide daily recreation options. Cameron Village offers boutique shopping and restaurants a short drive away, while NC State’s campus adds cultural and dining vibrancy. The area draws families for well-rated schools and professionals seeking short commutes to downtown and Research Triangle employment centers. Community-oriented and walkable pockets make West Raleigh a desirable, steadily appreciating neighborhood.

Nearby access summary

Very good access to parks and campus green space — Powell Drive Park is a block away, NC State and Pullen Park are within a few miles, plus nearby greenways and community paths for walking, biking, and family recreation.

ElementaryAdams Elementary (8/10)
Middle schoolLufkin Road Middle (10/10)
High schoolAthens Drive High (8/10)
School districtWake County Public School System
Market context

A factual market snapshot around 722 Powell Dr.

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

West Raleigh is firmly favoring sellers in the current cycle: inventory is tight at roughly 2.5 months and homes average about 30 days on market. Median sale price in the area sits near $450,000, with one-year appreciation around 5% and five-year growth near 25%. New construction homes are particularly buoyant — buyers are paying a premium for modern systems, efficient layouts, and turnkey condition. Recent nearby closings (724 Powell Dr at $624,900 and 728 Powell Dr at $634,900) validate pricing in the low-to-mid $600Ks for comparable 1,792 sq ft cottages, supporting the $644,900 list price here (≈$360/sq ft).

For investors, rental demand in West Raleigh remains strong due to proximity to NC State and the downtown employment base; estimated monthly rents for similar 3-bedroom product are in the $2,400–$2,600 range, yielding a modest gross return (roughly 4.6% per current rental estimates). For owner-occupants, limited inventory and steady appreciation make this a favorable entry point—actively marketed new builds often attract multiple offer scenarios. Buyers should, however, confirm construction completion, certificate of occupancy, and any HOA or post-construction assessments as part of contract contingencies.

Zoning & land use

Residential-6

Zoning

Zoning codeR-6
DescriptionResidential-6
JurisdictionCity of Raleigh
Assessor useSingle Family Residential
Current useResidential
SetbacksFront 20', side 5', rear 20'

Research-indicated uses

  • Single Family
  • Accessory Dwelling Unit
  • Home Occupation
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$99,000
Assessed improvements$0
Total assessed$99,000
Assessment year2025
Tax year2025

Sale history

2025-10-14$644,900 · $360/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$2,400/mo
Property address712 Powell Dr Unit A, Raleigh, NC 27606
2 bed2.5 bath1,510 sq ft$1.6/SF
Leased Mar 16, 2023
Subject difference
  • 282 SF smaller
  • 1 fewer bedroom
  • 0.5 fewer bathrooms
Research comparison noteRenovated townhome with smaller size and fewer bedrooms.
02Monthly rent$2,300/mo
Property address712 Powell Dr Unit B, Raleigh, NC 27606
2 bed2.5 bath1,240 sq ft$1.5/SF
Leased Mar 11, 2022
Subject difference
  • 552 SF smaller
  • 1 fewer bedroom
  • 0.5 fewer bathrooms
Research comparison noteSmaller townhome with fewer bedrooms and bathrooms.
Research findings & due diligence

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

Key findings

  • Listed at $644,900 ($360 per square foot)
  • Assessed land value of $99,000 as of 2025
  • Zoned R-6 allowing single-family and accessory dwelling units
  • Located 0.1 miles from Powell Drive Park and 1.5 miles from NC State University
  • Nearby schools rated 8/10 or higher

Still worth verifying

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

  • Confirm completion of construction and obtain certificate of occupancy
  • Verify any HOA fees and regulations
  • Assess property tax implications post-construction assessment
  • Review builder's warranty and any included appliances or fixtures
Highlights & features

What stands out about this property.

Interior Features

  • 1,792 square feet, 2 stories
  • 3 bedrooms, 3 full bathrooms
  • Chef's kitchen with large island
  • Stone countertops
  • Stainless steel appliances
  • Main-level guest bedroom / office
  • Oversized upstairs primary suite
  • Central AC and forced-air gas heating
  • Open, efficient floorplan

Exterior & Lot

  • Detached two-car garage
  • EV-ready conduit in garage
  • Architectural shingle roof
  • Level lot with standard residential driveway
  • Wood-frame construction (2025 build)
  • Low-maintenance exterior finishes

Location & Neighborhood

  • West Raleigh neighborhood
  • 0.1 miles to Powell Drive Park
  • 1.5 miles to NC State University
  • 3 miles to Downtown Raleigh
  • Near Cameron Village shopping and Pullen Park
  • Zoning: R-6 (single-family, ADU potential)

Walkability & Recreation

  • Walkability Rating: 72/100 — Some Errands On Foot
  • Powell Drive Park (0.1 miles)
  • Pullen Park (≈2 miles) and greenways nearby
  • NC State campus walking/biking access (1.5 miles)
  • Cameron Village shopping (≈2.5 miles)
  • Community paths and neighborhood recreation within short drives
Research transparency

Sources & research confidence.

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

View sources & confidence
1
Zillow listing for 722 Powell DrView source
2
Realtor.com listing for 722 Powell DrView source
3
Compass listing for 722 Powell DrView source
4
Raleigh Realty listing for 722 Powell DrView source
5
Realtor.com listing for 724 Powell DrView source
6
Realtor.com listing for 728 Powell DrView source
7
Redfin listing for 712 Powell Dr Unit AView source
8
Redfin listing for 712 Powell Dr Unit BView 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.