NOT LISTED FOR SALE

501 Pearce Ave Wake Forest, NC 27587

Estimated Value: $419,577 - $533,000

-- Bed
3 Baths
1,336 Sq Ft
$361/Sq Ft Est. Value

Last Sold May 16, 2022

Last sale price $427,000 $320 Per Sq Ft

Est. 13% increase in value since last sale

Current estimated payment $2,730/month

22 Days on Market

Highlights

  • Central Air
  • Carpet
  • 5-minute walk to H.L. Miller Park
  • Heritage Elementary School Rated A
  • Heating Available

About This Home

As of May 2022

Great location near downtown Wake Forest. 3BR/2.5BA. Large living room. Kitchen has dining area. Separate laundry room off kitchen. Deck overlooks nice backyard. Nice size bedrooms, very good tenants, they pay on time, one has one year lease and the other unit would like to extend.

Last Agent to Sell the Property

Rod Al-Haddad

Best Investment Realty License #272954 Listed on: 03/27/2022

Last Buyer's Agent

Amber Lehman

Nest Realty of the Triangle License #299282

Nest Realty of the Triangle

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,906

Year Built

  • Built in 2002

Parking

  • 2 Parking Spaces

Home Design

  • Vinyl Siding

Flooring

  • Carpet
  • Laminate
  • Vinyl

Basement

  • Crawl Space

Schools

  • Heritage Elementary And Middle School
  • Wake Forest High School

Utilities

  • Central Air
  • Heating Available

Community Details

  • 2 Units

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,906

Year Built

Built in 2002

Lot Details

0

Listing Details

  • Year Built: 2002
  • Prop. Type: Residential Income
  • Subdivision Name: Not in a Subdivision
  • Carport Y N: No
  • Garage Yn: No
  • New Construction: No
  • Cooling Central Air: Yes
  • Sewer:Public Sewer: Yes
  • Water Source Public: Yes
  • Flooring Carpet: Yes
  • Flooring Vinyl: Yes
  • Flooring Laminate: Yes
  • General Property Information Carport YN: No
  • General Property Information Number Of Units Total3: 2.0
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Laminate, Vinyl
  • Basement: Crawl Space
  • Basement:Crawl Space: Yes

Exterior Features

  • Construction Type: Vinyl Siding
  • Construction Materials:Vinyl Siding: Yes

Garage/Parking

  • Total Parking Spaces: 2.0
  • General Property Information:Parking Total: 2.0

Utilities

  • Heating: Electric
  • Cooling: Central Air
  • Cooling Y N: Yes
  • HeatingYN: Yes
  • Water Source: Public
  • Heating:Electric4: Yes

Schools

  • Ninth Grade High School: Wake - Wake Forest
  • Middle Or Junior School: Wake - Heritage

Rental Info

  • Owner Pays: None

Tax Info

  • Tax Annual Amount: 2906.0
  • Tax Year: 2020

Multi Family

  • Number Of Units Total: 2

MLS Schools

  • Elementary School: Wake - Heritage

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 27, 2022
Closed on
May 9, 2022
Sold by
Best Investment Realty Llc
Bought by
M & D Properties Nc Llc
Seller's Agent
Rod Al-Haddad
Best Investment Realty
Buyer's Agent
Amber Lehman
Nest Realty of the Triangle
List Price
$475,000
Sold Price
$427,000
Premium/Discount to List
-$48,000
-10.11%
Current Estimated Value
$481,894

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$54,894
Avg. Annual Appreciation
4.15%

Purchase Details

Closed on
Dec 13, 2021
Sold by
Reeves John M
Bought by
Best Investment Realty Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$268,000
Interest Rate
3.14%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 29, 2014
Sold by
Howell Andrea
Bought by
Reeves John M

Purchase Details

Closed on
Jul 15, 2011
Sold by
Keith Timothy B and Keith Leanne H
Bought by
Reeves John Marshall

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$125,250
Interest Rate
4.57%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 18, 2008
Sold by
North Wake Properties Llc
Bought by
Keith Timothy B and Keith Leanne H

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$140,000
Interest Rate
6.03%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jan 17, 2002
Sold by
Keith Building Corp
Bought by
North Wake Properties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$26,000
Interest Rate
6.85%
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
M & D Properties Nc Llc $854 None Listed On Document
Best Investment Realty Llc $325,000 None Available
Reeves John M -- None Available
Reeves John Marshall $172,000 None Available
Keith Timothy B $136,000 None Available
North Wake Properties Llc -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Best Investment Realty Llc $268,000
Previous Owner Reeves John Marshall $125,250
Previous Owner Keith Timothy B $140,000
Previous Owner North Wake Properties Llc $26,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/14/2023 12/14/23 Off Market $427,000 -- --
05/16/2022 05/16/22 Sold $427,000 -10.1% $320 / Sq Ft
04/22/2022 04/22/22 Pending -- -- --
03/30/2022 03/30/22 Price Changed $475,000 0.0% $356 / Sq Ft
03/30/2022 03/30/22 For Sale $475,000 -- $356 / Sq Ft
Source: Doorify MLS

Tax History Compared to Growth

Source: Public Records

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 $2,098 $420,119 $67,500 $352,619
2024 $4,083 $420,119 $67,500 $352,619
2023 $3,081 $261,727 $31,500 $230,227
2022 $2,957 $261,727 $31,500 $230,227
2021 $2,906 $261,727 $31,500 $230,227
2020 $2,906 $261,727 $31,500 $230,227
2019 $2,457 $194,813 $27,000 $167,813
2018 $0 $194,813 $27,000 $167,813
2017 $0 $194,813 $27,000 $167,813
2016 $2,223 $194,813 $27,000 $167,813
Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2022

    Rod Al-Haddad

    Best Investment Realty

    (919) 931-7475

    2 in this area

    236 Total Sales

    Rod Al-Haddad
    Section Image
  • Amber Lehman

    Buyer's Agent in 2022

    Amber Lehman

    Nest Realty of the Triangle

    (919) 740-5891

    21 in this area

    122 Total Sales

    Amber Lehman
    Section Image
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Map

Source: Doorify MLS

MLS Number: 2438855

Doorify MLS

APN: 1841.19-61-5448-000

North Carolina Wake County Wake Forest 27587

501 Pearce Ave, Wake Forest, NC

This home is located at 501 Pearce Ave, Wake Forest, NC 27587 since 27 March 2022 and is currently estimated at $481,894, approximately $360 per square foot. This property was built in 2002. 501 Pearce Ave is a home located in Wake County with nearby schools including Heritage Elementary School, Heritage Middle School, and Wake Forest High School.

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