See Home Value
Wake 27587 Millrace
5241 Mill Dam Road
$750,000
● House - Off Market

5241 Mill Dam Road

Wake Forest, NC 27587
bedrooms
4 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
3,024 Ft²
$4,141
Est. Monthly
$33
HOA / Fees
2.67%
Cap Rate

About This Property

Stunning Retreat in Sought-After Millrace Subdivision

Welcome to your dream home in Millrace, one of Wake Forest's most coveted luxury communities. Known for its peaceful atmosphere and private pond views, this neighborhood blends serenity and convenience just minutes from local amenities.

This beautiful 4-bedroom home offers a spacious and thoughtful layout with the primary suite on the main floor. The owner's retreat features light-toned luxury vinyl plank flooring and room for a king-sized bed. The en-suite bath includes a jetted tub, large ceramic-tiled shower, dual vanities, white cabinetry, and an oversized mirror.

The heart of the home is a soaring living room with vaulted ceilings, a dramatic stone hearth wood-burning fireplace, and glass doors that open to an expansive, multi-level deck. Whether you're hosting a gathering or enjoying a quiet evening, the flow of this home is perfect for entertaining.

The gourmet kitchen includes high-end granite countertops, hardwood floors, an electric cooktop, a large refrigerator, and generous cabinet space. Enjoy your morning coffee in the breakfast nook while taking in serene views of the pond from the front porch.

Need a quiet escape? The cozy sunroom is surrounded by windows and includes a mini-split system for year-round comfort-ideal for unwinding with a book or soaking up natural light.

Upstairs, you'll find two spacious bedrooms, ample storage, and a versatile bonus room-perfect for a playroom, home office, or guest space.

Outside, a long gravel driveway leads to a detached two-car garage with a fully finished apartment above. This bonus space includes a full bath with a walk-in shower, making it a great option for guests, a teen suite, or even a private game room.

Don't miss your chance to own a slice of paradise in Wake Forest. With scenic surroundings, custom features, and flexible living space, this home truly has it all.
Unit Size
3,024 Ft²
Days on Market
-
Land Size
1.44 acres
Price per sqft
$248
Property Type
House
Property Taxes
$425
HOA Dues
$33
Year Built
1996

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Last updated: 2 years ago (TMLS #10094667)

Price History

Date / Event Date Event Price
Sep 15, 2025 Sold
Sold
Aug 11, 2025 In contract -
In contract
Jul 29, 2025 Price Decreased $750,000
↓ $35K (4.5%)
Price Decreased
Jun 20, 2025 Price Decreased $785,000
↓ $40K (4.9%)
Price Decreased
May 7, 2025 Listed by Pate Realty Group $825,000
Listed by Pate Realty Group
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Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1996
  • Effective Year Built: 1996
  • Total Rooms: 9
  • Bedroom Count: 0
  • Bathroom Count: 3
  • Full Bathrooms: 3
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 15
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 0
  • Floor Count: 150
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 5
  • Basement Area: 0
  • Garage Type: 7
  • Garage Square Area: 650
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 62,726
  • Total Building Area: 3,392
  • Building Area: 3,392
  • Building Area Measurement: E

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 3
  • Heated Square Feet: 3,392
  • Heating Fuel Type: 9

    Utilities

  • Sewer System: 0
  • Water Service: 6

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: MILLRACE SUB
  • Land Acres: 0000001440
  • Standard Land Use Code: 1001
  • County Land Use Code: 01
  • Legal Description 1: LO9 MILLRACE SUB PH1 BM1994-1463

Neighborhood

  • School District Name: Wake County Schools
  • School Tax School District: 23
  • Census Tract: 054211

Zoning

  • Zoning: R-30

Geography

  • Account Number: 0214388
  • District: 19
  • Subdivision Phase Number: 1
  • Parcel: 1861.03-12-7346 0214388
  • Lot: 9
  • Municipality: WAKE FOREST
  • Latitude: 35.9807
  • Longitude: -78.4531

    Address

  • Full Address: 5241 Mill Dam Rd
  • Address - House Number: 5241
  • Address - Street Name: Mill Dam
  • Address - Suffix Type: Rd
  • State: NC
  • City Name: Wake Forest
  • Carrier Code: R008
  • 4-Digit Zip Code: 6366
  • Zip Code: 27587

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $333,527

    Appraisal Valuation

  • Standard Deviation: 0.1158
  • Valuation Date: Oct 05, 2022
  • Confidence Score: 87
  • Final Value: 723,710
  • High Value: 807,522
  • Low Value: 639,897

    Market Valuation

  • Market Total Value: $459,051
  • Market Land Value: $120,000
  • Market Improvement Value: $339,051

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $459,051
  • Assessed Land Value: $120,000
  • Assessed Improvements Value: $339,051

    Sales

  • Current Sale Contract Date: Jan 12, 2015
  • Current Sale Recording Date: Jan 20, 2015
  • Current Sale Price:
  • Current Sale Document Type: 71
  • Previous Sale Recording Date: Oct 20, 2006
  • Previous Sale Contract Date: Oct 20, 2006
  • Previous Sale Amount: $410,000
  • Previous Sale Document Type: 71
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 Millrace


Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

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537 Austin View Boulevard, Wake Forest, NC, 27587 Listing by Jeff Stoker
Unit for rent at 1976 Austin Ridge Parkway, Wake Forest, NC, 27587

$2,400 /mo

  • 4 Beds
  • 3 Baths
  • 2,116 ft²
1976 Austin Ridge Parkway, Wake Forest, NC, 27587 Listing by Greg Peterson
Unit for rent at 336 Plott Hound Lane, Wake Forest, NC, 27587

$2,450 /mo

  • 4 Beds
  • 2 Baths
  • 2,479 ft²
336 Plott Hound Lane, Wake Forest, NC, 27587 Listing by Dameion Tarique Moore


Frequently Asked Questions

When was property at 5241 Mill Dam Road built and last sold?
The property at 5241 Mill Dam Road was built in 1996 and last sold on Jan 12, 2015 for $386,000.
How much is this home worth?
The estimated value of the home located at 5241 Mill Dam Road is $0.
What are some comparable homes to 5241 Mill Dam Road?
There are currently no comparable homes to 5241 Mill Dam Road.