1241 University Ct Unit 204 Raleigh, NC 27606
Estimated payment $1,952/month
Highlights
- Deck
- Traditional Architecture
- Community Basketball Court
- A. B. Combs Magnet Elementary School Rated A
- Community Pool
- 2-minute walk to Walnut Creek Wetland Park Trailhead
About This Home
NCSU PARENTS & STUDENTS & INVESTORS!
Excellent income-producing property at University Commons - Lake Park! This spacious 4-bedroom, 4-bath condo features four private en suite units, each with its own full bath and walk-in closet — ideal for generating strong, steady rental income. Shared spaces include a comfortable living room, fully equipped kitchen, washer/dryer, and private balcony with outdoor storage.
Currently, one bedroom is leased at $800 per month through December 29, 2025, with electricity, water/sewer, and internet included (paid by landlord). The remaining three bedrooms are vacant and ready to rent, offering excellent upside potential. When fully occupied, the property's income potential $3,200/month.
Located within walking distance to Lake Johnson, walking trails, and NC State University, with easy access to the WolfLine bus route, downtown Raleigh, and I-40. Community amenities include a pool, volleyball court, and basketball court.
Please note: property is tenant-occupied, please note a 24-hour notice required for showings.
An outstanding opportunity to own a turnkey, income-producing property or a perfect setup for NCSU students seeking private suites with shared living comfort.
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $2,337
Year Built
- Built in 1997
HOA Fees
- $202 Monthly HOA Fees
Home Design
- Traditional Architecture
- Shingle Roof
- Vinyl Siding
Interior Spaces
- 1,165 Sq Ft Home
- 1-Story Property
- Ceiling Fan
- Living Room
- Luxury Vinyl Tile Flooring
- Crawl Space
Kitchen
- Electric Range
- Microwave
- Dishwasher
- Stainless Steel Appliances
Bedrooms and Bathrooms
- 4 Bedrooms
- Walk-In Closet
- 4 Full Bathrooms
- Primary bathroom on main floor
Laundry
- Laundry Room
- Dryer
- Washer
Parking
- 4 Parking Spaces
- 4 Open Parking Spaces
Schools
- Combs Elementary School
- Centennial Campus Middle School
- Athens Dr High School
Additional Features
- Deck
- Forced Air Heating and Cooling System
Listing and Financial Details
- Property held in a trust
- Assessor Parcel Number 0783823950
Community Details
Overview
- Association fees include ground maintenance
- Lake Park Condo Association, Phone Number (919) 859-9552
- University Commons Lake Pk Subdivision
Recreation
- Community Basketball Court
- Community Pool
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $2,337 | $265,680 | -- | $265,680 |
| 2024 | $2,327 | $265,680 | $0 | $265,680 |
| 2023 | $1,866 | $169,391 | $0 | $169,391 |
| 2022 | $1,735 | $169,391 | $0 | $169,391 |
| 2021 | $1,668 | $169,391 | $0 | $169,391 |
| 2020 | $1,638 | $169,391 | $0 | $169,391 |
| 2019 | $1,260 | $106,959 | $0 | $106,959 |
| 2018 | $0 | $106,959 | $0 | $106,959 |
| 2017 | $1,133 | $106,959 | $0 | $106,959 |
| 2016 | $1,110 | $106,959 | $0 | $106,959 |
| 2015 | $1,036 | $98,111 | $0 | $98,111 |
| 2014 | $983 | $98,111 | $0 | $98,111 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/24/2025 10/24/25 | For Sale | $297,000 | -- | $255 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $280,000 | None Listed On Document | |
| Warranty Deed | $280,000 | None Listed On Document | |
| Warranty Deed | $145,000 | None Available | |
| Special Warranty Deed | $80,000 | None Available | |
| Trustee Deed | $104,386 | None Available | |
| Interfamily Deed Transfer | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $77,972 | FHA | |
| Previous Owner | $76,600 | No Value Available |
Source: Doorify MLS
MLS Number: 10129562
APN: 0783.16-82-3950-041
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