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.
Cul-de-Sac 5BR Home Backing to Protected Woods Near Falls Lake
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.
See the properties helping shape the valuation.
Comparable sales
- 397 SF smaller
- 1 fewer bedroom
- 3.5 fewer bathrooms
- 3,484 SF larger lot
- 18 years older
- 260 SF smaller
- 1 fewer bedroom
- 3.5 fewer bathrooms
- Similar lot size
- 4 years older
- 255 SF smaller
- 1 fewer bathroom
- 2,178 SF larger lot
- 10 years older
A 2019 transitional on 0.25 acres.
Building
Site & utilities
The Falls
Researched nearby locations
Location
1401 Freshwater Ct, Wake Forest, NC 27587
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.
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.
A factual market snapshot around 1401 Freshwater Ct.
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.
Residential District
Zoning
Research-indicated uses
- Single Family
- Accessory Dwelling Unit
- Home Occupation
Assessment data and recorded transactions.
Assessed value is kept visually separate from the CompCasa market-value estimate.
Tax assessment
Sale history
Rental references from the research record.
Context only—not an investment recommendation or guarantee of achievable rent.
Supporting lease references
- Same living area
- 397 SF smaller
- 1 fewer bedroom
- 3.5 fewer bathrooms
What the research supports — and what is still worth verifying.
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
Still worth verifying
Routine buyer due diligence items; these are not known defects.
- Confirm lot dimensions and boundaries
- Verify basement permits and code compliance
- Review HOA covenants and restrictions
- Professional home inspection
- Roof condition assessment
What stands out about this property.
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
Sources & research confidence.
See where the property research came from and how confidence varies by field.