masterkey logo
1109 Steinbeck Dr
Raleigh, NC

1109 Steinbeck Dr

$672,500
4 bd • 3 ba • 2,280 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$672,500

Price/Sq.Ft

$295

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

The property at 1109 Steinbeck Dr, Raleigh, NC 27609 offers several positive attributes. At 2,280 sqft, it's 14% larger than the average 3-bedroom home in Raleigh (2,000 sqft). The price per square foot of $294.96 is competitive, being 5% below the Raleigh average of $310/sqft for similar homes. The 4 bedroom, 3 bathroom layout provides ample space for families or those needing extra rooms for offices or guests. The property features a charming front porch, adding curb appeal and outdoor living space. Its location in a mature, tree-lined neighborhood suggests a well-established area with potential for stable property values. The large lot with mature trees offers privacy and natural beauty, a feature increasingly rare in rapidly developing areas of Raleigh.

The Bad

The lack of detailed information about the property's features, utilities, and systems is concerning. This absence of data could indicate potential hidden issues or outdated systems that may require significant investment. The unknown build year is a red flag, as it leaves questions about the age of major systems and potential code compliance issues. The driveway appears to be on a slope, which could lead to drainage issues or difficulties during icy conditions. The property's price of $672,500 is 22% above the median home value in Raleigh ($550,000 as of 2023), which may limit the pool of potential buyers and future appreciation potential.

The Ugly

Without knowing the age of the home or its maintenance history, there's a risk of major system failures or necessary upgrades in the near future. Costs for a new HVAC system ($8,000-$15,000), roof replacement ($10,000-$20,000), or foundation repairs ($5,000-$25,000) could significantly impact the total cost of ownership. The mature trees, while beautiful, pose a risk of root intrusion into plumbing systems or potential damage during storms, with removal costs potentially reaching $1,000-$5,000 per tree. The sloped driveway may require regrading or drainage solutions, which could cost $5,000-$10,000. Given Raleigh's susceptibility to hurricanes and occasional tornadoes, the property's tree coverage increases the risk of storm damage, potentially leading to higher insurance premiums.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is best suited for families or professionals needing ample space, with a household income of at least $180,000 (based on a 28% front-end DTI ratio for a 30-year mortgage at current rates). It's ideal for those who value established neighborhoods and are willing to invest in potential upgrades for a home with character. The multiple bedrooms make it suitable for multi-generational families or those needing home office spaces. Investors looking for long-term appreciation in a stable Raleigh neighborhood might also find this property attractive, with potential rental income of $2,340/month for a 4-bedroom home, yielding a modest 4.2% annual return before expenses.

Not For

This property is not suitable for first-time homebuyers or those with limited budgets, given its price point and potential for hidden costs. It's also not ideal for buyers seeking a modern, move-in ready home with all the latest amenities. Those with mobility issues may find the sloped driveway and potential multi-story layout challenging. Investors looking for high cash flow or quick flips may find the potential renovation needs and modest rental yields unappealing. The property may also not suit those seeking low-maintenance living, as the large lot and mature trees will require ongoing care and attention.
Demographics
Area Median Income

$73,979

Price Prediction Challenge

Think you know what 1109 Steinbeck Dr will sell for? Put your market expertise to the test!

Be the first to predict

Your local insight could help set the benchmark for other buyers.

No predictions yet

Kick off the challenge by making your guess. You'll help other buyers get a feel for this property’s value—and you might just claim the top spot when it sells.

Unlock Premium Features

Supercharge Your Property Analysis

Get unlimited AI-powered insights and analysis to make confident decisions about any property you're interested in.

Best for serious buyers
  • Unlimited AI analysis
  • Unlimited AI chat
  • Advanced tools & insights
$24.92/mo
Billed yearlySave 17% ($60/year)
Cancel anytime • 30-day money-back guarantee

Risk Assessment

Risk Analysis

The unknown build year poses significant risks, as it could mean outdated electrical, plumbing, or HVAC systems that don't meet current codes. There's a potential for asbestos or lead paint if the home was built before 1978. The mature trees increase the risk of root intrusion into foundation or plumbing, as well as storm damage. Raleigh's climate, with hot, humid summers, raises concerns about potential mold or moisture issues, especially if the home lacks proper ventilation or has an older HVAC system. The sloped driveway may lead to erosion or drainage problems over time. Given Raleigh's rapid growth, there's a risk of overvaluation in the current market, which could impact future appreciation. The lack of detailed property information suggests a need for a comprehensive inspection to uncover any hidden issues before purchase.

Financials

Monthly Costs
Market Rent (4 bed)

$2,340

Get a detailed rental estimate on Zillow®

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$633,504

-5.8% below list price

Median Price

$628,021

Based on 6 recent sales

Price per Sq.Ft

$296

Comparable Properties

4900 Latimer Road, Raleigh, NC 27609
Price: $730,000
Sq.Ft: 2,223
Beds/Baths: 4/3
$/Sq.Ft:
$32811.3%
Sale Date: 10/2/2024
4900 Latimer Road, Raleigh, NC 27609
Price: $730,000
Sq.Ft: 2,223
Beds/Baths: 4/3
$/Sq.Ft:
$32811.3%
Sale Date: 10/2/2024
5208 Saddle Court, Raleigh, NC 27609
Price: $628,021
Sq.Ft: 1,935
Beds/Baths: 3/3
$/Sq.Ft:
$32510.0%
Sale Date: 11/14/2024
432 Emerson Drive, Raleigh, NC 27609
Price: $565,000
Sq.Ft: 2,159
Beds/Baths: 3/3
$/Sq.Ft:
$26211.3%
Sale Date: 9/5/2024
432 Emerson Drive, Raleigh, NC 27609
Price: $565,000
Sq.Ft: 2,159
Beds/Baths: 3/3
$/Sq.Ft:
$26211.3%
Sale Date: 9/5/2024
801 Purdue Street, Raleigh, NC 27609
Price: $583,000
Sq.Ft: 2,147
Beds/Baths: 4/3
$/Sq.Ft:
$2727.9%
Sale Date: 9/5/2024

Frequently Asked Questions

Property Discussion

Start the Conversation

Share your insights on this property—did you visit the open house? Know of any hidden pros or cons? Your street-level knowledge could be exactly what another buyer needs.

You
Potential Savings

$20,175

Analyze Any Property for Free

Get instant insights and potential savings on any Zillow® listing.

Free Analysis
AI-Powered Insights
Instant Results

Recently Analyzed Properties

566 Mooyn Rd
Carrollton, GA
$331,400

566 Mooyn Rd

3
3
2,260
95 CARIBBEAN Place
Saint Johns, FL
$899,900

95 CARIBBEAN Place

4
3
3,385
215-17 Southlook Ave
San Diego, CA
$879,000

215-17 Southlook Ave

4
2
1,518
View All Properties