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Discover the perfect blend of privacy, versatility, and natural beauty in this exceptional waterfront home nestled on 2.84 acres in the sought-after Millrace community. Bordering Austin Creek and overlooking peaceful community ponds, this property offers a tranquil setting while remaining just minutes from the best of Wake Forest. Designed with flexibility in mind, the home features 4 bedrooms, a dedicated home office, and an oversized game room with a wet bar. The thoughtfully designed floor plan includes a main-level primary suite along with two additional first-floor bedrooms, making everyday living convenient for a variety of lifestyles. Upstairs, you'll find another private bedroom, office, and an expansive bonus/game room perfect for entertaining, a home theater, fitness space, or teen retreat. Outside, enjoy the serenity of your private waterfront setting with plenty of room for outdoor recreation, gardening, or simply relaxing while taking in the peaceful views. A spacious 2-car garage provides ample storage and convenience. Despite its secluded feel, this home is just a short drive to Downtown Wake Forest, where you'll enjoy locally owned restaurants, boutiques, coffee shops, and year-round community events. Outdoor enthusiasts will appreciate the nearby Falls Lake Recreation Area, E. Carroll Joyner Park, and Wake Forest's extensive greenway system, while shopping, grocery stores, and everyday conveniences along the Capital Boulevard corridor are all within easy reach. This is a rare opportunity to own a spacious waterfront property that combines the tranquility of country living with the convenience of one of Wake Forest's most desirable locations. Upgrades include HVAC (2022), Radon Mitigation System, Partial Crawlspace Encapsulation, RO Water Filter, Whole House Steam Humidifier.
Elementary School |
Middle School |
High School |
| Wake - Richland Creek Distance: N/A Miles |
Wake - Wake Forest Distance: N/A Miles |
Wake - Wake Forest Distance: N/A Miles |
Price History
| 8/23/2026 | Listed $1,325,000 |
| Sewer | Septic Tank |
| Heating | Central,Electric,Forced Air,Heat Pump |
| Cooling | Ceiling Fan(s),Central Air,Electric,Heat Pump |
| Utilities | Cable Connected,Electricity Connected,Natural Gas Available,Septic Connected,Water Connected |
| Roof | Architectural Shingle |
| Appliances | Bar Fridge,Dishwasher,Electric Oven,Electric Water Heater,Microwave,Propane Cooktop,Range Hood,Refrigerator,Wall Oven,Water Purifier Owned |
| Zoning | R-30 |
| HOA Fee | 436 |
| Garage Spaces | 2 |
| Association Fee Includes | Maintenance Grounds |
| Patio/Porch Features | Covered,Front Porch,Patio,Screened |
| Architectural Style | Transitional |
| Construction Materials | Fiber Cement,Stone |
| Year Built | 1997 |
| View | Pond,Trees/Woods |
| Stories Count | 1 |
| Levels | Two |
| Property Subtype | Single Family Residence |
| Waterfront Features | Pond,Waterfront |
| Community Features | Fishing,Lake |
| Assoc Fee Paid Per | Annually |
| County | Wake |
| New Construction | false |
| Property Type | Residential |
| Association Amenities | Cabana,Maintenance Grounds,Pond Year Round |
| HOA | true |
| Attached Garage | true |
| Subdivision Name | Millrace |
| Garage Y/N | true |
| Total Rooms | 10 |
| Full Baths | 3 |
| Status | Pending |
| Directions | Headed east on Highway 98 take a left on Averette Road then take a right on Mill Dam Road the house will be on your right |
| High School | Wake - Wake Forest High School |
| City | Wake Forest |
| Body of Water | Austin Creek |
| Senior Community Y/N | false |
| Lot Size Units | Acres |
| Lot Size Square Feet | 123710 |
| Elementary School | Wake - Richland Creek Elementary School |
| Tax Annual Amount | 6205.25 |
| Middle/Junior High School | Wake - Wake Forest Middle School |
| Virtual Tour | https://unbranded.youriguide.com/5300_mill_dam_rd_wake_forest_nc?page=tour |
| Structure Type | Site Built |
| Standard Status | Pending |
Interior Features
| Interior Amenities | Bar,Bathtub/Shower Combination,Built-in Features,Cathedral Ceiling(s),Ceiling Fan(s),Chandelier,Crown Molding,Dining L,Double Vanity,Eat-in Kitchen,Entrance Foyer,High Speed Internet,Kitchen Island,Open Floorplan,Pantry,Primary Downstairs,Radon Mitigation,Recessed Lighting,Separate Shower,Smooth Ceilings,Storage,Vaulted Ceiling(s),Walk-In Closet(s),Walk-In Shower,Water Closet,Wet Bar |
| Flooring | Hardwood,Tile |
| Total Fireplaces | 1 |
| Fireplace Features | Family Room,Propane |
| Air Conditioning Y/N | true |
| Heating Y/N | true |
| Window Features | Plantation Shutters |
| Fireplace Y/N | true |
| Above Grade Finished Area | 4348 |
| Half Baths | 1 |
| Laundry Features | In Unit,Laundry Room,Main Level |
| Total Bedrooms | 4 |
| Below Grade Finished Area | 0 |
| Total Baths | 4 |
Exterior Features
| Exterior Amenities | Fenced Yard,Private Yard,Rain Gutters |
| Fencing | Back Yard,Fenced |
| Parking Features | Concrete,Driveway,Garage,Garage Door Opener,Garage Faces Side,Kitchen Level |
| Lot Features | Back Yard,Front Yard,Hardwood Trees,Landscaped,Level,Many Trees,Pond on Lot,Views,Waterfront,Wooded,Water View |
| Water Source | Community Water |
| Lot Size Area | 2.84 |
| Foundation Details | Crawlspace |
| Building Area Total | 4348 |
| Lot Size Acres | 2.84 |
| Waterfront Y/N | true |
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Kristi is a Johnston county girl raised in Selma, NC. She earned her bachelors Degree from the University of Mount Olive where she studied business and played on the golf team. In addition to being a Realtor, Kristi also owns and operates a women's boutique. She has a passion to help people and she strives to make your experience the best possible whether you are buying or selling Kristi can help to ensure you have a smooth process. 
© 2026 Longleaf Pines Association of Realtors MLS. All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Properties marked with the IDX icon are provided courtesy of the Longleaf Pines Association of Realtors MLS, Inc., Internet Data Exchange (IDX).