425 Pearce Avenue, Wake Forest, NC 27587
Not in a Subdivision · Wake County
Key Facts
Description
Downtown Wake Forest Investment and/or Redevelopment Opportunity Offered in conjunction with 417 Pearce Avenue (MLS# 10142424) and 421 Pearce Avenue (MLS# 10178234 ) for a combined purchase price of $1,135,000. The offering includes three parcels totaling approximately 1.67 acres, featuring two fully leased duplexes and one tenant-occupied single-family home, providing immediate rental income with significant long-term upside. Zoned UR (Urban Residential), the properties offer outstanding redevelopment and expansion potential in one of Wake Forest's fastest-growing and most desirable locations. Each duplex features spacious 3-bedroom, 2-full-bath units, thoughtfully designed with two bedrooms on the main level and one upstairs, appealing to a wide range of tenants. This duplex is situated on a nearly 1 acre lot. The property provides rare space and flexibility in a downtown setting. The lot has access to Pearce Avenue and currently shares a driveway with the neighboring duplex. A prime location close to dining, shopping, and local amenities, combined with strong rental performance and zoning advantages, makes this a compelling opportunity for investors seeking both stability and upside in one of Wake Forest's most desirable areas. One unit in this building has recently been updated with new flooring, cabinets, counter tops, appliances and paint.
Property Information
Property Type
Residential Income
Sub-Type
Duplex
Structure Type
Duplex
Year Built
2003
Stories
2
Living Area
2,721 sq ft
Lot Size
0.91 acres
Zoning
UR
Days on Market
74
MLS® Listing#
10142426
Property Features
Interior
Appliances
Cooling
Heating
Flooring
Parking
Laundry
Patio
Construction
Foundation
Roof
Security
Utilities
Sewer
Water Source
Schools
- Elementary:
- Wake - Heritage Elementary
- Middle:
- Wake - Heritage Middle
- High:
- Wake - Wake Forest High School
Financial Details
HOA
None
Annual Taxes
$4,146
Tax year 2025
Assessed Value
$438,136
Parcel Number
184119614694000 0325145
Directions
North on Franklin St, left on Pearce Ave
Affordability Calculator
$99,000
Estimated monthly payment
$2,635/mo
Principal $396,000 · Est. interest $552,455 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Wake Forest, NC
- $494,972
- Median Listing Price
- 60
- Median Days on Market
- 2,437
- Median Sq Ft
- $207
- Median Price / Sq Ft
- 682
- Active Listings
- This home’s price is right around the area median.
- Its price per sq ft is 12% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Wake Forest, NC.
Location
Points of Interest in Wake Forest, NC
Showing the Wake Forest area map.
Nearby Schools
Sebts Women Around SE
School · 0.5 mi away
Wake Forest Istem Magnet Elementary School
Elementary · 0.5 mi away
Richland Creek Elementary School
Elementary · 0.6 mi away
Franklin Academy
School · 0.6 mi away
Wake Forest-Rolesville High School
Secondary · 0.7 mi away
Montessori Children's House
Elementary · 0.7 mi away
St. Catherine of Siena Parish
School · 1.1 mi away
Franklin Academy
School · 1.8 mi away
Richland Creek Elementary
Elementary · 2.0 mi away
Heritage Children's Academy
School · 2.0 mi away
Thales Academy
School · 2.0 mi away
North Wake College and Career Academy
School · 2.1 mi away
Wakefield 9th Grade Center
School · 2.1 mi away
Primrose Schools
Elementary · 2.1 mi away
Wake County Public Schools
School · 2.1 mi away
Wake Forest Middle School
Secondary · 2.2 mi away
Heritage Elementary School
Elementary · 2.3 mi away
Goddard School
School · 2.4 mi away
Wake County Public Schools
School · 2.7 mi away
Jones Dairy Elementary School
Elementary · 2.7 mi away
Commute Calculator
Nearby Homes
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 149 Woodbriar Drive, Forest City, NC | $350,000 | 5 | 4 | 3,602 |
| 202 Sunset Memorial Road, Forest City, NC | $360,000 | 5 | 3 | 1,711 |
| 2029 Longmont Drive, Wake Forest, NC | $399,000 | 5 | 3 | 2,335 |
| 2029 Longmont Drive, Wake Forest, NC | $399,000 | 5 | 3 | 2,335 |
| 1844 Fighting Bull Drive, Wake Forest, NC | $433,462 | 5 | 3 | 2,511 |
| 633 Ramo Grande Drive, Wake Forest, NC | $436,840 | 5 | 3 | 2,511 |
Moving Cost Estimate
EXIT Agents in Wake Forest
Listing Courtesy: Coldwell Banker Advantage - 9198472222
Last Updated: 2026-01-21