Seller's Agent in 2026
Mike Ulrich
AMG Realty LLC
(919) 802-7282
7 in this area
70 Total Sales
5316 Mill Dam Rd Wake Forest, NC 27587
4
Beds
5
Baths
4,614
Sq Ft
4.35
Acres Lot
Highlights
- Private Waterfront
- Floating Dock
- Lake View
- Richland Creek Elementary School Rated A-
- Lake On Lot
- 4.35 Acre Lot
About This Home
As of February 2026Exclusive Wake Forest Lakefront Estate Discover refined lakefront living with this private 4.35-acre retreat in Wake Forest, offering 4,614 sq. ft. of beautifully designed space, along with a 4 car garage! This is a four bedroom home that lives like a five bedroom home! Blending timeless craftsmanship with thoughtful updates, this custom-built estate delivers both luxury and peace of mind. Major upgrades include a new roof in 2018 and a tankless water heater 2024 ensuring modern comfort and long-term value. Crown molding, custom trim, and fresh paint throughout highlight the home's attention to detail. The heart of the home features an updated kitchen with quartz counters with waterfall island, quartz slab back splash, custom cabinetry, premium fixtures, and an effortless flow for entertaining. The hardwood floors continue to the first-floor primary suite is a true sanctuary, and a fully renovated spa-inspired bathroom with dual shower heads and even a cedar closet space! Adjoining the primary is an elegant private office. A formal dining completes this estate with enough seating for 8 guests comfortably. Soaring ceilings and walls of windows in the two-story great room flood the home with natural light and frame breathtaking views of the lake. Upstairs, 3 bedrooms, of which one has en suite bath, PLUS a spacious loft provide private havens for family or guests! A separate Bonus Wing with its own entry and staircase offers unmatched flexibility—ideal for multigenerational living, a guest retreat, or a home-based business. Here you will find another bedroom and loft area with a dinette kitchen!!! Outdoor living is elevated with a covered porch, hot tub, fire pit, and private dock, all set against the backdrop of serene lakefront scenery. The four-car garage includes one bay that is fully heated and cooled—perfect for a workshop, studio, or climate-sensitive storage. 12x18 shed on permanent foundation. All of this just minutes from Wake Forest's shopping, dining, and parks—an extraordinary estate where luxury and convenience meet.
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $7,600
Year Built
- Built in 1997
Lot Details
- 4.35 Acre Lot
- Private Waterfront
- 100 Feet of Waterfront
- Lake Front
- Secluded Lot
- Interior Lot
- Partially Wooded Lot
- Landscaped with Trees
- Back Yard Fenced and Front Yard
HOA Fees
- $35 Monthly HOA Fees
Parking
- 4 Car Attached Garage
- Parking Pad
- Heated Garage
- Lighted Parking
- Parking Deck
- Side Facing Garage
- Garage Door Opener
- Private Driveway
- Additional Parking
Property Views
- Lake
- Woods
Home Design
- Transitional Architecture
- Shingle Roof
- Masonite
Interior Spaces
- 4,614 Sq Ft Home
- 2-Story Property
- Open Floorplan
- Built-In Features
- Bookcases
- Crown Molding
- Smooth Ceilings
- High Ceiling
- Ceiling Fan
- Chandelier
- Electric Fireplace
- Family Room with Fireplace
- Dining Room
- Home Office
- Loft
- Bonus Room
- Storage
- Basement
- Crawl Space
Kitchen
- Eat-In Kitchen
- Built-In Oven
- Electric Cooktop
- Microwave
- Plumbed For Ice Maker
- Dishwasher
- ENERGY STAR Qualified Appliances
- Kitchen Island
- Granite Countertops
- Quartz Countertops
- Disposal
Flooring
- Wood
- Carpet
- Tile
Bedrooms and Bathrooms
- 4 Bedrooms | 1 Primary Bedroom on Main
- Cedar Closet
- Walk-In Closet
- In-Law or Guest Suite
- Double Vanity
- Private Water Closet
- Soaking Tub
- Bathtub with Shower
- Shower Only in Primary Bathroom
- Separate Shower
Laundry
- Laundry Room
- Laundry on main level
- Sink Near Laundry
Home Security
- Home Security System
- Smart Home
- Smart Locks
- Smart Thermostat
- Fire and Smoke Detector
Outdoor Features
- Floating Dock
- Dock Permitted
- Pond
- Lake On Lot
- Deck
- Wrap Around Porch
- Fire Pit
- Exterior Lighting
- Outdoor Storage
- Rain Gutters
Schools
- Richland Creek Elementary School
- Wake Forest Middle School
- Wake Forest High School
Utilities
- Forced Air Zoned Cooling and Heating System
- Power Generator
- Natural Gas Connected
- Tankless Water Heater
- Gas Water Heater
- Septic Tank
- High Speed Internet
- Phone Available
- Cable TV Available
Listing and Financial Details
- Assessor Parcel Number 1861218543
Community Details
Overview
- Association fees include ground maintenance
- Millrace HOA, Phone Number (919) 723-8496
- Millrace Subdivision
- Maintained Community
- Community Lake
- Pond Year Round
Amenities
- Laundry Facilities
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Oct 2, 2025
Closed on
Feb 24, 2026
Sold by
Mudge Perry and Lee-Ross Ami
Bought by
Richard Timothy and Richard Terry
Seller's Agent
Mike Ulrich
AMG Realty LLC
Buyer's Agent
Dana Ellington
Compass -- Raleigh
List Price
$1,350,000
Sold Price
$1,325,000
Premium/Discount to List
-$25,000
-1.85%
Views
241
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-12.88%
Purchase Details
Listed on
May 20, 2021
Closed on
Sep 7, 2021
Sold by
Bannerman Roderick A and Bannerman Pamela W
Bought by
Perry Charles Jerry Mudge and Perry Ami Lee
Seller's Agent
Rob Zelem
Keller Williams Preferred Realty
Buyer's Agent
Jeffrey Scott
Pinecrest Residential
List Price
$875,000
Sold Price
$900,000
Premium/Discount to List
$25,000
2.86%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.04%
Original Mortgage
$200,000
Interest Rate
2.8%
Mortgage Type
New Conventional
Purchase Details
Closed on
Apr 20, 2000
Sold by
Bannerman Roderick A and Bannerman Pamela W
Bought by
Bannerman Roderick A and Bannerman Pamela W
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $1,325,000 | None Listed On Document | |
| Warranty Deed | $900,000 | None Available | |
| Interfamily Deed Transfer | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $200,000 | New Conventional |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 02/26/2026 02/26/26 | Sold | $1,325,000 | -1.9% | $287 / Sq Ft | |
| 01/13/2026 01/13/26 | Pending | -- | -- | -- | |
| 10/02/2025 10/02/25 | For Sale | $1,350,000 | +50.0% | $293 / Sq Ft | |
| 12/15/2023 12/15/23 | Off Market | $900,000 | -- | -- | |
| 09/08/2021 09/08/21 | Sold | $900,000 | +2.9% | $192 / Sq Ft | View Prior Sale |
| 06/21/2021 06/21/21 | Pending | -- | -- | -- | |
| 06/18/2021 06/18/21 | For Sale | $875,000 | -- | $187 / Sq Ft |
Source: Doorify MLS
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 | $7,600 | $1,185,093 | $294,000 | $891,093 |
| 2024 | $7,379 | $1,185,093 | $294,000 | $891,093 |
| 2023 | $5,014 | $640,442 | $168,000 | $472,442 |
| 2022 | $4,645 | $640,442 | $168,000 | $472,442 |
| 2021 | $4,520 | $640,442 | $168,000 | $472,442 |
| 2020 | $4,445 | $640,442 | $168,000 | $472,442 |
| 2019 | $5,225 | $637,301 | $202,500 | $434,801 |
| 2018 | $4,802 | $637,301 | $202,500 | $434,801 |
| 2017 | $4,551 | $637,301 | $202,500 | $434,801 |
| 2016 | $4,459 | $637,301 | $202,500 | $434,801 |
| 2015 | $4,671 | $669,662 | $230,000 | $439,662 |
| 2014 | $4,426 | $669,662 | $230,000 | $439,662 |
Source: Public Records
Agents Affiliated with this Home
-
Mike Ulrich
-
Dana Ellington
Buyer's Agent in 2026
Dana Ellington
Compass -- Raleigh
(919) 622-5051
17 in this area
384 Total Sales
-
R
Seller's Agent in 2021
Rob Zelem
Keller Williams Preferred Realty
-
Jeffrey Scott
J
Buyer's Agent in 2021
Jeffrey Scott
Pinecrest Residential
(919) 263-3663
13 in this area
57 Total Sales
Map
Source: Doorify MLS
MLS Number: 10125433
APN: 1861.03-21-8543-000
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Some IDX listings have been excluded from this IDX display. 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. Listings marked with an icon are provided courtesy of the Doorify MLS, Inc. of North Carolina, Internet Data Exchange Database. 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. Copyright 2026 Doorify MLS, Inc. of North Carolina. All rights reserved.
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