2BR Condo with Updated
1208 Schaub Drive Raleigh, NC 27606
1208 Schaub Drive, Raleigh, NC, 27606
$185,000
For Sale
$185,000
MULTI_FAMILY - Raleigh, NC
Property Size937 SF
Price / SF$197.44
Days on Market10
Property Features for 1208 Schaub Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- RX-3
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bedroom 2, Bathroom 2, Bathroom 1, Dining Room, Bedroom 1
- Parking
- 1
- Parking features
- Parking Lot
- Patio and Porch features
- Patio
- Interior features
- Bathtub/Shower Combination, Kitchen/Dining Room Combination, Walk-In Closet(s)
- Appliances
- Dishwasher, Disposal, Electric Range, Microwave, Oven, Range Hood, Refrigerator
- Standard status
- Active
- APN
- 078307792872095 0146047
- Size
- 937 SF
Taxes and HOA fees
- Tax Year
- 2026
- Tax Description
- Driftwood Manor Condominium Un1208-C
- Tax Annual Amount
- 1525
Utilities
- Sewer type
- Public Sewer
- Heating system
- Heat Pump (Heating)
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1972
- Floors in Building
- 3
- Number of units
- 1
- Flooring type
- Carpet
- Building materials
- Brick
Listing Agency
Costello Real Estate & Investm
(980) 938-8920
911 Paverstone Drive Suite A, Garner, NC
Listed by
Alexis Stephens
(828) 674-7420
Added: Jul 8 Checked: Jul 17 at 5:06 am
MLS# 10179180
Listing URL
Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
1208 Schaub Drive presents a 2-bedroom, 1.5-bath condo well suited for residential income ownership. The home includes a functional layout and natural light, with an HVAC system updated in August 2025. The property size is 937 square feet, and it is identified under RX-3 zoning.
Located in Raleigh, the condo is described as minutes from NC State University, with access to shopping, dining, bus routes, and major roadways. The surrounding area is positioned between Raleigh and Cary, with convenient connectivity noted while avoiding heavy, constant traffic.
Within the community, residents have shared amenities including a swimming pool, basketball courts, and playgrounds, offering everyday recreational options just outside the home.
Located in Raleigh, the condo is described as minutes from NC State University, with access to shopping, dining, bus routes, and major roadways. The surrounding area is positioned between Raleigh and Cary, with convenient connectivity noted while avoiding heavy, constant traffic.
Within the community, residents have shared amenities including a swimming pool, basketball courts, and playgrounds, offering everyday recreational options just outside the home.
Key Highlights
- 2‑bedroom, 1.5‑bath condo in a community setting with a patio and parking lot
- Updated HVAC in August 2025, plus central air and a heat pump for heating
- Kitchen/dining room combination with appliances including dishwasher, disposal, electric range, microwave, oven, range hood, and refrigerator
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.6k | $19.80 |
| − Vacancy | −$1.2k | −$1.29 |
| EGI | $17.3k | $18.51 |
| − OpEx | −$7.8k | −$8.33 |
| NOI | $9.5k | $10.18 |
937 SF · lease $19.80/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$136.3K
$119.3K – $159.0K
NOI $9,541 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$257.5K
$225.3K – $300.4K
NOI $18,026 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Aunt Molly’s Pet ...
Kennel & Boarding Facility
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FAQs
What type of property is this?
Residential income property - 2-bedroom, 1.5-bath condo with an HVAC system updated August 2025 and community amenities including a pool and courts.
Where is this residential income property located?
The property is located at 1208 Schaub Drive Raleigh, NC.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 2‑bedroom, 1.5‑bath condo in a community setting with a patio and parking lot; Updated HVAC in August 2025, plus central air and a heat pump for heating; Kitchen/dining room combination with appliances including dishwasher, disposal, electric range, microwave, oven, range hood, and refrigerator
