Surround yourself with nature, wide-open spaces, and peaceful water views in this exceptional Mill Race home! The main level features a spacious primary suite and dedicated home office, along with an inviting open-concept living area designed for both everyday living and entertaining. Upstairs offers three additional bedrooms and a versatile bonus room. The chef's kitchen is a true centerpiece, showcasing a large island, built-in refrigerator, and custom finishes throughout. Quality craftsmanship is evident in every detail of this beautifully designed home. Unwind on the back deck overlooking the water or launch a kayak for a relaxing adventure across the lake. The detached two-car garage has been thoughtfully converted into a studio guest house but could easily be transformed back into garage space to suit your needs. Welcome home to Mill Race—where nature, comfort, and timeless craftsmanship come together! (Main dwelling - 3721.32 sq ft. /Guest house- 983.96) Both w/ water view! 4705.28 total heated/cooled sq ft.
Single-familyProperty Type
2007Year Built
3.01 acresLot Size
$309Price/Sq.Ft.
$50/moHOA Dues
2 garage spacesParking
Listed by Janna Whitehorne• Mark Spain Real Estate
Rare Opportunity To Live On 3 Acres w/ Views of The Lake!
Public Records
Jul 28, 2017
Sold
$567,000
$152/sq ft
TMLS #2135675
Jul 28, 2017
Sold
$564,500
$152/sq ft
Jul 26, 2017
Pending
—
Jul 8, 2017
Contingent
—
Jun 29, 2017
Listed
$569,900
$153/sq ft
TMLS #1618943
Nov 7, 2008
Listing Removed
—
Aug 21, 2008
Listed
$699,900
$188/sq ft
Public Records
May 30, 2006
Sold
$175,000
$47/sq ft
Public Records
Aug 6, 1998
Sold
$78,000
$21/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$7,391 (+3.0%)
$273,000 + $879,429
$1,152,429
2024
$7,177 (+42.4%)
$273,000 + $879,429
$1,152,429
2023
$5,039 (+7.9%)
$273,000 + $879,429
$1,152,429
2022
$4,669 (+2.8%)
$156,000 + $487,768
$643,768
2021
$4,544 (+1.7%)
$156,000 + $487,768
$643,768
2020
$4,468 (−5.9%)
$156,000 + $487,768
$643,768
2019
$4,751 (+9.8%)
$156,000 + $487,768
$643,768
2018
$4,325 (+11.6%)
$135,000 + $444,226
$579,226
2017
$3,875 (+2.1%)
$135,000 + $407,196
$542,196
2016
$3,796 (−14.9%)
$135,000 + $407,196
$542,196
2015
$4,461 (+5.5%)
$135,000 + $407,196
$542,196
2014
$4,227 (+7.1%)
$230,000 + $409,453
$639,453
2013
$3,946
$230,000 + $409,453
$639,453
2012
$3,946
$230,000 + $409,453
$639,453
2011
$3,946
$230,000 + $409,453
$639,453
Public record
Public record
Zoning
Permits
Beds
—
Baths
3.5
Stories
1.5
Lot width
—
Lot depth
—
Lot size
3.01 Acres
Year renovated
2012
Finished Sq. Ft.
3,753
Unfinished Sq. Ft.
—
Total Sq. Ft.
3,753
Year built
2007
Style
Single Family Residential
County
Wake County
APN
1861.03 21 5028 000
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Aug 11, 2026.
R-30
Residential-30 District
The R-30 districts are known as non-watershed residential districts. These districts allow a range of very-low to moderate-density residential development and various building forms, depending on the specific district. A limited number of nonresidential uses are also allowed. Some nonresidential uses are permitted by-right; others are allowed only within designated activity centers and then only if the Board of Adjustment first reviews and approves a site plan and Special Use Permit for such use.
Permitted uses
Include but are not limited to:
Religious facility
Housing-Single unit
Housing-Multiple units
Educational/school
Library
Golf related
Housing-Mobile home park
Park & open space
Apr 3, 2025 • Final
Residential or farm trade permit. electrical, mechanical or plumbing
Install a new generator and run the electrical line down the exterior brick wall. No trenching is required for this installation. The homeowner will perform the mechanical work.
Electrical
Generator
Feb 15, 2024 • Final
Accessory structure application for wastewater
Install a new generator and perform necessary trenching. The homeowner will complete the mechanical work.
Electrical
Generator
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
6/10 Heat Factor
7 days above 105° expected this year, 16 days in 30 years
6/10 Wind Factor
52% chance of strong winds in next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 1 days in 30 years
Provided by First Street
Historical weather
Wake Forest, NC • 27587
Average low and high temperatures (°F)
48
29
54
35
70
46
78
54
79
59
89
69
91
74
81
67
80
65
72
52
65
45
53
34
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
91/ 100
Exceptional sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.7 hrs
6.7 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 5340 Mill Dam Rd
$1,124,759
$25K under list price of $1.15M
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $463K to $995K.