See Home Value
Lee 27332
1116 Falling Stream
$400,000
● House - Off Market

1116 Falling Stream

Sanford, NC 27332
bedrooms
3 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
2,323 Ft²
$2,087
Est. Monthly
$73
HOA / Fees
5.39%
Cap Rate

About This Property

Back on the market at no fault to the sellers! See agent remarks! Calling all Mid-Century Modern lovers! This is a diamond in the rough. It needs some work and is priced accordingly but has SUCH potential! Experience the epitome of lakeside living in this architecturally significant home designed by Arthur Cogswell, nestled on the serene shores of Lake Trace in the prestigious Carolina Trace community. The residence features 3 bedrooms and 2.5 bathrooms, providing ample space for comfortable living. You'll love the gourmet kitchen: The kitchen is equipped with granite and Corian countertops, Kraft Maid maple cabinets, and a stylestone peninsula, perfect for culinary enthusiasts. The property boasts a detached garage with an unfinished upstairs space, offering potential for customization and beautiful lake front pathways.
Unit Size
2,323 Ft²
Days on Market
-
Land Size
0.64 acres
Price per sqft
$177
Property Type
House
Property Taxes
-
HOA Dues
$73
Year Built
1975

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Last updated: 12 months ago (TMLS #LP744892)

Price History

Date / Event Date Event Price
Nov 18, 2025 Sold
Sold
Nov 7, 2025 In contract -
In contract
Nov 3, 2025 Price Decreased $410,000
↓ $15K (3.5%)
Price Decreased
Sep 10, 2025 In contract -
In contract
Sep 8, 2025 Price Decreased $425,000
↓ $50K (10.5%)
Price Decreased
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Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1975
  • Effective Year Built: 2000
  • Total Rooms: 8
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Bathroom Plumbing Fixtures: 6
  • Building Condition: 3
  • Building Quality: 6
  • Construction Type: 6
  • Building Style: 15
  • Exterior Walls Type: 15
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Floor Cover: 0
  • Basement Type: 3
  • Basement Area: 624
  • Garage Type: 4
  • Garage Square Area: 704
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 4
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 28,288
  • Lot Size Depth Feet: 2,080
  • Lot Size Frontage Feet: 1,360
  • Total Building Area: 2,311
  • Gross Building Area: 1,687
  • Building Area: 2,311
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 8
  • Heated Square Feet: 2,311
  • Heating Fuel Type: 2

    Utilities

  • Sewer System: 1
  • Water Service: 2

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: CAROLINA TRACE
  • Land Acres: 0000000649
  • Standard Land Use Code: 1001
  • County Land Use Code: 110
  • Legal Description 1: LOT 1116 SOUTH LANDING PC 3/378

Neighborhood

  • School District Name: Lee County Schools
  • Census Tract: 030507

Zoning

  • Zoning: RESIDENTIA

Geography

  • Assessors Map Reference: MAP 9660 04
  • Parcel: 9660-94-9036-00
  • Block: SOUTH L
  • Lot: 1116
  • Municipality: CAROLINA TRACE
  • Latitude: 35.4098
  • Longitude: -79.1009

    Address

  • Full Address: 1116 Falling Strm
  • Address - House Number: 1116
  • Address - Street Name: Falling
  • Address - Suffix Type: Strm
  • State: NC
  • City Name: Sanford
  • Carrier Code: R017
  • 4-Digit Zip Code: 7370
  • Zip Code: 27332

Valuation

    Tax

  • Total Area: 2,311
  • Tax Year: 2023
  • Tax Amount: $340,270
  • Tax Rate Code Area: FCT

    Appraisal Valuation

  • Standard Deviation: 0.3755
  • Valuation Date: Nov 03, 2023
  • Confidence Score: 24
  • Final Value: 461,459
  • High Value: 634,744
  • Low Value: 288,173

    Market Valuation

  • Market Total Value: $429,800
  • Market Land Value: $112,500
  • Market Improvement Value: $317,300

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $429,800
  • Assessed Land Value: $112,500
  • Assessed Improvements Value: $317,300

    Sales

  • Current Sale Contract Date: Sep 06, 2011
  • Current Sale Recording Date: Sep 06, 2011
  • Current Sale Price:
  • Current Sale Document Type: 71
  • Current Sale Input Document Number: 5198
Data used for valuation calculations is provided by RealtyHop, and other third party sources

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Lee


Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 323 Harbor Trace, Sanford, NC, 27332

$1,850 /mo

  • 3 Beds
  • 2 Baths
  • 1,260 ft²
323 Harbor Trace, Sanford, NC, 27332 Listing by SYBILLE MCQUILKIN
Unit for rent at 132 Lexington Drive, Sanford, NC, 27332

$1,900 /mo

  • 3 Beds
  • 2 Baths
  • 1,820 ft²
132 Lexington Drive, Sanford, NC, 27332 Listing by Claire Murtaugh


Frequently Asked Questions

When was property at 1116 Falling Stream built and last sold?
The property at 1116 Falling Stream was built in 1975 and last sold on Sep 6, 2011 for $455,000.
How much is this home worth?
The estimated value of the home located at 1116 Falling Stream is $0.
What are some comparable homes to 1116 Falling Stream?
There are currently no comparable homes to 1116 Falling Stream.