Score
0Raleigh, NC
1109 Steinbeck Dr
673K
4 beds
3 baths
2,280 sqft
4 bd • 3 ba • 2,280 sf
This analysis was generated 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 This absence of data could indicate potential hidden issues or outdated systems that may require significant investment.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
Property History
Price History
Ownership Timeline
$275,000Financed
Apr 5, 2007David G Devries, Jean M DevriesKristopher M Joyce, Christy J Joyce
Warranty Deed
Standard Sale (Purchase/Resales)
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
4.1/10
AverageMiddle
4.2/10
AverageHigh
5.5/10
AverageFinancials
Monthly Costs
Market Rent (4 bed)
Get a detailed estimate on Zillow$1,240
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$672,500
Price/sqft
$295
Layout
4 bd•3 ba
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$633,504
6.2%
Your price is 6.2% above average
Median Price
$628,021
7.1%
Based on 6 recent sales
Price per Sq.Ft
$296
0.4%
Your price is 0.4% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 4900 Latimer Road, Raleigh, NC 27609 | $730,000 | 2,223 | 4 | 3 | $32811.3% | 10/2/2024 |
| 4900 Latimer Road, Raleigh, NC 27609 | $730,000 | 2,223 | 4 | 3 | $32811.3% | 10/2/2024 |
| 5208 Saddle Court, Raleigh, NC 27609 | $628,021 | 1,935 | 3 | 3 | $32510.0% | 11/14/2024 |
| 432 Emerson Drive, Raleigh, NC 27609 | $565,000 | 2,159 | 3 | 3 | $26211.3% | 9/5/2024 |
| 432 Emerson Drive, Raleigh, NC 27609 | $565,000 | 2,159 | 3 | 3 | $26211.3% | 9/5/2024 |
| 801 Purdue Street, Raleigh, NC 27609 | $583,000 | 2,147 | 4 | 3 | $2727.9% | 9/5/2024 |
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
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
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