Property listing for 1401 Freshwater Ct, Wake Forest, NC 27587
For SaleSingle Family Home

$699,000

1401 Freshwater Ct, Wake Forest, NC 27587

Cul-de-Sac 5BR Home Backing to Protected Woods Near Falls Lake

5 Bed · 6 Bath · 3,555 Sq Ft

Finished basement suite, private lot, steps from Neuse River Trail

5

Beds

6

Baths

3,555

Sq Ft

2019

Built

0.25 acres

Lot

2-car attached

Garage

About 1401 Freshwater Ct

There is a quiet privacy to this Freshwater Court address you notice first: the house sits at the end of a cul-de-sac and its backyard steps directly onto Corps-protected woodland, offering long views of mature trees, a seasonal creek and the kind of solitude rare inside Wake Forest. Outdoors a built-in fire pit creates an intimate gathering spot; beyond that the property essentially disappears into the green buffer that leads toward Falls Lake and the Neuse River Trail — both less than a half mile away.

Inside, the home’s transitional architecture is both modern and comfortably familiar. Hardwood runs across the main level and anchors an open living area with a fireplace and oversized windows framing the wooded outlook. The kitchen and adjoining casual dining area are sized for family meals and weekend entertaining; high-quality finishes and thoughtful storage speak to a 2019 build completed with contemporary materials and attention to detail. Upstairs, generous bedroom suites provide private retreats for family members or guests.

What sets this house apart for many buyers is the finished basement: a full secondary living area with its own kitchen, bedroom, full bath and laundry — configured and permitted as a self-contained suite ideal for in-law living, long-term guests, or a revenue-producing rental. With 3,555 square feet across three stories, the floorplan supports multi-generational households while maintaining distinct private zones.

Practical systems and construction choices matter here: fiber-cement siding, shingle roof, central HVAC and a two-car attached garage add to the low-maintenance appeal. The home shows in excellent condition and is set on a gently sloping 0.25-acre lot that balances outdoor usability with the sense of being tucked into protected land. For buyers who value active outdoor living, the proximity to Falls Lake for boating and the Neuse River Trail for running and cycling turns everyday weekends into easy escapes.

Listed at $699,000, 1401 Freshwater Ct is tailored to families, downsizers who want space for visiting relatives, and investors seeking a home with in-place accessory living. Schedule a tour to experience the quiet backyard and the flexibility that a finished lower-level suite provides — this house pairs modern construction with a rare, private setting minutes from Wake Forest amenities.

Home Highlights

Move-in readyFinished basement suite with separate kitchen and laundryBacks to protected Corps land for exceptional privacyCul-de-sac locationHardwood floors on main levelOutdoor fire pit and creek frontage2-car attached garageBuilt in 2019 — modern construction and systems

Property Features

Interior Features

  • 5 bedrooms, 6 bathrooms (4 full, 2 half)
  • 3,555 sqft across three finished levels
  • Finished basement with separate kitchen, bedroom, full bath, and laundry
  • Hardwood floors on main level
  • Fireplace in main living area
  • Large windows with wooded views
  • Central HVAC and forced air heating

Exterior & Lot

  • 0.25-acre lot at end of cul-de-sac
  • Backs to Corps-protected woodland and creek
  • Outdoor fire pit and established landscaping
  • Fiber-cement exterior and shingle roof
  • 2-car attached garage plus driveway parking
  • Gently sloping topography for yard usability

Location & Neighborhood

  • The Falls neighborhood — serene, residential setting
  • Falls Lake (0.2 mi) and Neuse River Trail (0.3 mi)
  • Wakefield Middle and Wakefield High (both rated 8/10)
  • Wakefield Commons shopping ~2 miles
  • WakeMed North within ~5 miles

Walkability & Recreation

  • Walkability Rating: 35/100 — Car-Dependent (daily errands require a car)
  • Proximity to Falls Lake and Neuse River Trail for boating and miles of trails
  • Hiking and biking trails within 0.5 miles
  • Running/walking paths on nearby greenways
  • Community recreation and neighborhood open space
  • Golf courses and larger parks within a short drive

Neighborhood & Location

The Falls is a quietly established Wake Forest neighborhood prized for wooded lots and easy access to Falls Lake recreation. Residents enjoy short drives to Wakefield Commons for shopping and dining, while outdoor enthusiasts value the close Neuse River Trail and boat ramps into Falls Lake. Schools are part of Wake County Public Schools; middle and high schools nearby have strong reputations. The area skews family-oriented, with convenient medical centers and commuter access to Raleigh-Cary MSA employment hubs.

Market Insights

Wake Forest’s single-family market is currently best described as lightly supply-constrained: inventory sits near 2.5 months and median area sale price is roughly $650,000. Average days on market in the corridor are about 30 days, indicating homes in desirable pockets still move quickly when properly priced. One-year appreciation is modest (~5%), while a five-year view shows stronger cumulative gains (~25%).

For this property type — newer, detached single-family homes with multi-generational layouts and acreage adjacency — demand remains robust. Listings that offer finished accessory suites and private lots (like 1401 Freshwater Ct) typically attract both owner-occupant buyers and investors looking for rental upside; lease comps and rental estimates suggest monthly rent potential in the $3,500–3,850 range, supporting gross yields near 6% in current conditions.

This is a favorable moment to consider purchase: low inventory gives sellers leverage, but steady appreciation and fast turnover mean a competitively priced, well-presented home can still sell within a month. Buyers should be prepared with pre-approval and expect modest negotiation room; sellers should capitalize on the limited supply and highlight the finished basement, protected backyard, and lake-adjacent access in marketing materials.

Nearby Schools

Brassfield Elementary

Elementary

3/10

Wakefield Middle

Middle

8/10

Wakefield High

High

8/10

Walkability & Recreation

35
Walkability
92
Recreation

Exceptional access to outdoor recreation: Falls Lake and the Neuse River Trail are within a half mile, with miles of boating, fishing, hiking and biking options nearby and local greenways for daily activity.

Investment Highlights

  • Built in 2019 with modern construction and amenities
  • Finished basement with separate kitchen and laundry facilities
  • Backs to protected land, offering privacy and wooded views
  • Proximity to Falls Lake and Neuse River Trail for outdoor recreation
  • Listed at $699,000, within estimated market value range

Key Findings

  • Assessed value of $588,848 appears below market value
  • Located in The Falls neighborhood, known for its serene environment
  • Wakefield Middle and High schools rated 8/10
  • Median sale price in area is $650,000 with average days on market of 30

Things to Consider

  • Brassfield Elementary School rated 3/10, which may influence family decisions
  • Property taxes of $5,155 annually
  • Limited public transportation options in the immediate vicinity

Opportunity Analysis

Modern, spacious home in a private setting with multi-generational living potential and proximity to outdoor recreation.

Potential Use Scenarios

  • Ideal for families seeking privacy and access to nature
  • Potential for rental income from basement suite
  • Consideration for buyers valuing modern amenities and construction

Risk Factors

  • Elementary school rating may deter some family buyers
  • Annual property taxes of $5,155
  • Limited public transportation options

Buyers should conduct independent due diligence before making any purchase decisions.

AI Valuation Estimate

Low

$675K

Midpoint

$700K

High

$725K

$197/SF estimated price per square foot

85% confidence

Sales comparison approach using 3 comparable sales within 0.5 miles sold in last 12 months. Adjusted for size, condition, and location. Assessed value of $588,848 appears below market.

As of 2026-03-07

This is a computer-generated estimate for informational purposes only and is not an appraisal or professional valuation.

Market & Area Data

Market Trends

Area Median Price$650,000
Avg Days on Market30 days
Inventory2.5 months
1-Year Appreciation+5.0%

Demographics

Population (1 mi)8,000
Median Income (1 mi)$85,000

Wake Forest has experienced significant growth, with a 20% population increase over the past decade. The area attracts families and professionals seeking suburban living with access to urban amenities.

Nearby Points of Interest

  • Falls Lake (0.2 mi)
  • Neuse River Trail (0.3 mi)
  • Wakefield Commons Shopping Center (2 mi)
  • WakeMed North Hospital (5 mi)

Proximity to Falls Lake and Neuse River Trail offers abundant outdoor recreation. Nearby shopping and healthcare facilities enhance convenience.

School District

DistrictWake County Public School System
ElementaryBrassfield Elementary (3/10)
MiddleWakefield Middle (8/10)
HighWakefield High (8/10)

Market data is based on aggregated public records and may not reflect real-time conditions.

Property Details

Building Details

Year Built2019
Constructionfiber cement and concrete
Stories3
Roofshingle
Heatingforced air
Coolingcentral AC
Basementfinished
FireplaceYes
Conditionexcellent

Lot & Site

Lot Size0.25 acres (10,890 SF)
Topographygently sloping
Parkingattached_garage_and_driveway
Parking Spaces4
FrontageLocated at the end of a cul-de-sac

Utilities

Watermunicipal
Sewermunicipal
ElectricDuke Energy
GasPiedmont Natural Gas

Zoning & Land Use

Zoning CodeR-4
DescriptionResidential District
JurisdictionTown of Wake Forest

Allowed Uses

single familyaccessory dwelling unithome occupation
Current Useresidential
Assessor UseSingle Family Residential

Tax & Sale History

Tax Assessment

Total Assessed$588,848
Land$60,000
Improvements$528,848
Annual Tax (2025)$5,155

Sale History

2014-02-26$20,000

$5.63/SF

Land purchase prior to construction

2012-11-13$17,000

Land purchase

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