3 months on rocket

516 Rush St, Raleigh, NC, 27610

$2,500,000

Home List Price

$10,000*

Closing Credit

3 Bedrooms
2 Full Baths
729 SqFt
$3,429/SqFt
House

Location

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516 Rush St, Raleigh$2,500,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeSingle Family Residence
ParkingAdditional Parking
Year Built1952
HeatingElectric, Forced Air
CoolingHeat Pump
MLS #10047058
Lot Size0.49 Acres
StatusActive

About 516 Rush St

Discover an exceptional investment opportunity with three contiguous lots on Rush and Marion Streets, offering both immediate income and significant growth potential. 516 Rush St. is a three-bedroom property currently operating as a weekly rental. Zoned RX-3, with potential for a 3-story building with some commercial use. Adjacent to it is a newly constructed 10-room, 10-bath duplex on Marion St., slated for completion in December 2024, with projected monthly income of $6,500.00 - $7,000.00. Together, the three parcels span approximately 1.67 acres. Located near the growing Garner and CrossLink Roads corridor and the popular Crosstowne Subdivision, this property is perfectly positioned for future appreciation. For more details, refer to MLS listing #10047059 / 2806 Marion. Owner financing is available.

Property Details

Property Features

Property Information:

  • Architectural Style: Bungalow
  • Year Built: 1952
  • Living Area: 729 SqFt

Listing Office:

  • Office Name: Compass -- Raleigh
  • Office Phone: (919) 726-6548
  • Listing Agent: Marianne Mansour

Interior Features

Interior Information:

  • Flooring Type: Hardwood, Linoleum

Bedroom and Bathroom Information:

  • Full Bathrooms: 2
  • Total Bedroom Count: 3

Exterior Features

Parking Information:

  • Attached Garage: No
  • Parking: Additional Parking

Lot Features

Lot Information:

  • Lot: Corner Lot
  • Lot Size: 0.49 Acres

Utilities

Utilities Information:

  • Heating: Electric, Forced Air
  • Cooling: Heat Pump

Other

Directions Information:

  • Directions: Take 440 E to US-64W. Take Exit toward Hammond Road. Left on Hammond Road. Left onto Rush St. Destination is on the corner.

Price Information

Listing Price Info

Price Summary:

  • List Price: $2,500,000
  • Price Per SqFt: $3,429/SqFt
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Housing Market Comparison

See how this home compares to others in Raleigh, NC.

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Raleigh, NC

City

Med. Sold Price

$442.3K

Med. Price/SqFt

$233

Avg. Days On Market

36

# of Sold Homes

467

516 Rush St vs Raleigh

91 DAYS ON ROCKET

+55 Days

$2,500,000

+$2.0M More

$3,429/SqFt

+$3.1K More

KEY TAKEAWAY

This property is $2.0M more than the Median Sold Price and $3.1K/SqFt more than other homes in Raleigh, NC.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Number: #10047058

Listing Office:

  • Office Name: Compass -- Raleigh
  • Office Phone: (919) 726-6548
  • Listing Agent: Marianne Mansour

IDX Copyright © 2024 Doorify MLS of North Carolina. All rights reserved. Listings marked with a Doorify MLS icon are provided courtesy of the Doorify MLS, of North Carolina, Internet Data Exchange Database. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use.

Properties subject to prior sale, change, withdrawal or rental. Closed (sold) listings may have been listed and/or sold by a real estate firm other than the firm(s) featured on this website. Closed data is not available until the sale of the property is recorded in the MLS. Home sale data is not an appraisal, CMA, competitive or comparative market analysis, or home valuation of any property.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/15/2024, 12:21:26 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

We're sorry, we currently don't have sales or tax history data for this listing.

Payment Calculator

$12.5K

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$7,562

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NMLS#3030

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-418446
4
/10

  • Pave Southeast Raleigh Charter

  • 3420 Idlewood Village Dr

  • 0.81 miles

  • Public Charter Grades KG-6

school-card-donut-418447
4
/10

  • Southeast Raleigh Elementary School

  • 1436 Rock Quarry Rd

  • 1.67 miles

  • Public District Grades PK-5

school-card-donut-418448
5
/10

  • Fuller Magnet Elementary School

  • 2600 Timber Dr

  • 1.91 miles

  • Public Magnet Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $53,133. Typical income of Raleigh, NC residents is between $35k-100k annually. Most families are single, no kids. The most common level of education of people living in this area is post secondary degree.

All data provided by Home Junction and Claritas

Frequently Asked Questions About 516 Rush St

What is the listing price of this property?

The listing price of 516 Rush St property is $2,500,000.

What type of property is this?

The property 516 Rush St is a house located in Raleigh, North Carolina, 27610.

Is this property for sale now?

Active Listing: 516 Rush St is For Sale (Active/New) which means the seller is accepting offers.

How many bedrooms and bathrooms does this property have?

The property at 516 Rush St has 3 bedrooms and 2 bathrooms.

What is the square footage of this property?

The property 516 Rush St is 729 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 516 Rush St is 1952.

Rocket Homes›North Carolina›Wake County›Raleigh›27610›516 Rush St

This home is located at 516 Rush St in Raleigh, NC and zip code 27610 in the Home Acres neighborhood. This 729 square foot home, which was built in 1952, sits on a 0.49 acre lot. Features: 3 bedrooms, 2 bathrooms. It has been listed on Rocket Homes since August 15, 2024 and is currently priced at $2,500,000.

Raleigh, NC housing market in October 2024 saw over 94 listings sold above listed price, more than 103 sold at listed price and over 270 sold below. The number of homes for sale in Raleigh, NC increased by 2.3% between September 2024 and October 2024. The median list price of listings available in October 2024 was $442,333, while the average time on the real estate market was 36 days.

From Rocket Homes Real Estate and based on county public records data.

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