53
Map
$385,000
↓ $13K (3.3%)
●
House -
For Sale
1642 Wake Drive
Wake Forest, NC 27587
3 Beds
2 Baths,
1
Half Bath
1,814 Ft²
$2,149
Est. Monthly
About This Property
PRIME LOCATION! Pristine AND walk to Down Town, Walmart,
Restaurants, Go-Raleigh Bus Stop. Three levels and gorgeous large
yard. First level offers spacious living room with fireplace,
kitchen with center island and eat-in area, dining room, Laundry /
half bath. Second level offers Primary bedroom with WIC and
secondary closet plus ensuite bath. Also on the second level are
two more bedrooms and full hall bath. Third level beautifully
finished bonus/flex space with window seat. Use as you see fit.
Back yard has been nicely landscaped and is shady and cool with
storage building and privacy fence. Fresh paint, new carpet, clean
and upgraded so it is all ready to move in. Perfect for
someone wanting to have a little elbow room and yet be in the heart
of the all the conveniences.
Unit Size
1,814 Ft²
Days on Market
187 days
Land Size
0.39 acres
Price per sqft
$212
Property Type
House
Property Taxes
$258
HOA Dues
-
Year Built
1994
Listed By
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 15 days ago (TMLS #10162745)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 14, 2026 | Price Decreased |
$385,000
↓ $13K
(3.3%) | |
| Price Decreased | |||
| Sep 6, 2026 | Price Decreased |
$398,000
↓ $7K
(1.7%) | |
| Price Decreased | |||
| Aug 19, 2026 | Price Decreased |
$405,000
↓ $10K
(2.4%) | |
| Price Decreased | |||
| Jun 26, 2026 | Price Decreased |
$415,000
↓ $9K
(2.1%) | |
| Price Decreased | |||
| Jun 14, 2026 | Price Decreased |
$424,000
↓ $5K
(1.2%) | |
| Price Decreased | |||
Show More
Property Highlights
Air Conditioning
Fireplace
Parking Details
Has Open Parking
Open Parking Spaces: 3
Interior Details
Half Bathrooms: 1
Full Bathrooms: 2
Appliances: Dishwasher, Electric Range
Flooring Type: Carpet, Hardwood, Laminate, Tile
Laundry Features: Electric Dryer Hookup, In Kitchen, Washer Hookup
Rooms: 9
Has Fireplace
Fireplace Features: Living Room
Fireplaces: 1
Exterior Details
Square Footage: 1814
Architectural Style: Traditional
Year Built: 1994
Building Area Total: 1814
Levels: Three Or More
Construction Materials: Fiber Cement
Patio and Porch Features: Deck
Lot Features: Wooded, Partially Cleared
Lot Size Area: 0.39
Lot Size Units: Acres
Lot Size Acres: 0.39
Lot Size Square Feet: 16988
Water Source: Public
Financial Details
Tax Map Number: 6A
Tax Assessed Value: $328,620
Tax Annual Amount: $3,099
Utilities Details
Cooling Type: Central Air
Heating Type: Forced Air, Natural Gas
Sewer : Public Sewer
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
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Closing Price
Sold On
Sold On
HOA + Taxes
About Wake Forest
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Listed by: Rhonda Lester, Premier Advantage Realty Inc
Last Updated: 15 days ago
Data Source: TMLS, MLS# 10162745
Last Updated: 15 days ago
Data Source: TMLS, MLS# 10162745
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