5228 Mill Dam Rd Wake Forest, NC 27587
Estimated payment $5,771/month
Highlights
- Lake Front
- Fishing
- Open Floorplan
- Richland Creek Elementary School Rated A-
- 3.07 Acre Lot
- Community Lake
About This Home
Set along the shores of a picturesque lake and surrounded by tranquil woods and preserved common area, this exceptional home offers a rare blend of privacy, comfort, and natural beauty. From the moment you arrive, the setting feels like a retreat where peaceful water views and abundant wildlife, including ducks, geese, and turtles, become part of everyday life. Inside, the main level welcomes you with rich hardwood floors that flow seamlessly throughout. The central living room, framed by custom built-in bookcases and a cozy fireplace, captures stunning lake views, while the family room boasts a dramatic cathedral ceiling, gas fireplace, and a panoramic view of the lake. An updated kitchen serves as the heart of the home, showcasing quartzite counters, walk-in pantry, and easy access to the surrounding living areas. A 1st floor office with a closet adds flexibility for remote work or additional guest space. The primary bedroom and a secondary bedroom are located on the first floor. The primary suite is a true sanctuary, featuring serene lake views, two walk-in closets, and an updated bath complete with an remodeled walk-in shower, garden tub and dual vanities with granite counters. The secondary bedroom also offers a walk-in closet and its own remodeled bath with a walk-in shower. Upstairs, you'll find a private ensuite retreat with a large walk-in closet, along with a charming flex room featuring a window seat. This versatile 224 sq ft space is not included in the total square footage as a portion of the room has 7-ft ceilings. The expansive 1,733 sq ft walk-in attic on the second floor offers incredible potential for future expansion or customization. Outdoor living stretches over the 3.07 acre property. An updated deck with composite flooring, leads down to a flagstone patio with a fire pit and is perfectly positioned to take in the lake views and experience sunlight dancing across the water. The adjoining wooded common area with natural walking paths enhances the sense of connection to nature. Just a short walk away, the charming community dock invites you to enjoy fishing and lakeside relaxation. This home has been meticulously maintained and updated, including a new roof (2019), first-floor HVAC (2021), second-floor HVAC (2014), fenced backyard, sealed crawlspace, recently painted exterior, natural gas installation, and $30,000 in landscaping and hardscaping improvements. Relish the beauty and tranquility of lakeside living in a private setting while being just minutes from shopping, dining, and healthcare.
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $5,203
Year Built
- Built in 2001
Lot Details
- 3.07 Acre Lot
- Lake Front
- Back Yard Fenced
- Partially Wooded Lot
HOA Fees
- $35 Monthly HOA Fees
Parking
- 2 Car Attached Garage
- Parking Deck
- Side Facing Garage
- Garage Door Opener
Home Design
- Farmhouse Style Home
- Shingle Roof
Interior Spaces
- 3,045 Sq Ft Home
- 1.5-Story Property
- Open Floorplan
- Central Vacuum
- Bookcases
- Bar Fridge
- Coffered Ceiling
- Tray Ceiling
- Smooth Ceilings
- Cathedral Ceiling
- Ceiling Fan
- Recessed Lighting
- Family Room with Fireplace
- 2 Fireplaces
- Living Room with Fireplace
- Storage
- Washer and Dryer
- Water Views
Kitchen
- Electric Range
- Microwave
- Dishwasher
- Kitchen Island
Flooring
- Wood
- Carpet
- Ceramic Tile
Bedrooms and Bathrooms
- 3 Bedrooms
- Primary Bedroom on Main
- Dual Closets
- Walk-In Closet
- Double Vanity
- Private Water Closet
- Soaking Tub
- Bathtub with Shower
- Separate Shower
Attic
- Attic Floors
- Walk-In Attic
- Permanent Attic Stairs
- Unfinished Attic
Outdoor Features
- Patio
- Fire Pit
- Rain Gutters
- Front Porch
Schools
- Richland Creek Elementary School
- Wake Forest Middle School
- Wake Forest High School
Utilities
- Forced Air Heating and Cooling System
- Heating System Uses Gas
- Heating System Uses Natural Gas
- Heating System Uses Propane
- Propane
- Natural Gas Connected
- Tankless Water Heater
- Septic Tank
Listing and Financial Details
- Assessor Parcel Number 1861113765
Community Details
Overview
- Association fees include storm water maintenance
- Millrace HOA, Phone Number (919) 723-8496
- Millrace Subdivision
- Community Lake
Recreation
- Fishing
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 | $5,203 | $810,304 | $273,000 | $537,304 |
| 2024 | $5,052 | $810,304 | $273,000 | $537,304 |
| 2023 | $3,663 | $467,258 | $156,000 | $311,258 |
| 2022 | $3,395 | $467,258 | $156,000 | $311,258 |
| 2021 | $3,303 | $467,258 | $156,000 | $311,258 |
| 2020 | $3,249 | $467,258 | $156,000 | $311,258 |
| 2019 | $3,406 | $414,568 | $121,500 | $293,068 |
| 2018 | $3,131 | $414,568 | $121,500 | $293,068 |
| 2017 | $2,968 | $414,568 | $121,500 | $293,068 |
| 2016 | $2,907 | $414,568 | $121,500 | $293,068 |
| 2015 | $3,510 | $502,532 | $207,000 | $295,532 |
| 2014 | $3,327 | $554,265 | $230,000 | $324,265 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 04/12/2026 04/12/26 | Pending | -- | -- | -- |
| 04/10/2026 04/10/26 | For Sale | $999,950 | -- | $328 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Special Warranty Deed | $415,000 | None Available | |
| Trustee Deed | $397,500 | None Available | |
| Warranty Deed | $639,000 | None Available | |
| Warranty Deed | $440,000 | -- | |
| Warranty Deed | $347,500 | -- | |
| Warranty Deed | $110,000 | Fidelity National Insurance | |
| Warranty Deed | $90,000 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $511,200 | Purchase Money Mortgage | |
| Previous Owner | $327,000 | No Value Available |
Source: Doorify MLS
MLS Number: 10158980
APN: 1861.03-11-3765-000
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Ask me questions while you tour the home.