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    Property profile & analytics

    647 Wait Ave Wake Forest, NC 27587-2729

    • Investment properties
    • 1,160 SF
    • 0.58 lot acres
    OFF-MARKET
    Value Estimation
    $290,000
    Location Intelligence
    Property ID
    US53-5630845
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • KUSAN CONSTRUCTION COMPANY / Contractor

    Property Details for 647 Wait Ave

    Year built
    1959
    Construction
    FRAME
    Lot size
    0.58 lot acres
    Property size
    1,160 SF
    Zone code
    NMX
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    1841.20-70-5742 0144926
    APU
    1841207057420144926

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $315,000

    • CAP approach

      CAP return
      Estimation
      6%
      $235,000
      6.5%
      $205,000
      7%
      $200,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $265,000
      Geo Method
      $235,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $200,000
      Retail
      $220,000
      Mixed-Use
      $235,000
      Hospitality
      $260,000
      Educational
      $235,000
      Residential Income
      $255,000
      Energy
      $215,000
      Income-Based Land
      $255,000
      Food Service
      $190,000

    Location Insight

    • Map
    • Local Demand
    City
    Wake Forest
    County
    Wake
    State
    North Carolina
    Longitude
    -78.5014
    Latitude
    35.9765
    CBSA code
    39580
    CBSA name
    RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,341
    $138,705
    $62,776
    $201,481
    -
    $138,705
    $62,776
    $201,481

    Comparable in this City

    • Value Estimation by Request
      1,553 SF

      825 Averette Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,553 SF
      825 Averette Rd, Wake Forest, NC 27587-8207
      View Details
    • Value Estimation by Request
      2,354 SF

      13524 Cp Kanata Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,354 SF
      13524 Cp Kanata Rd, Wake Forest, NC 27587-8078
      View Details
    • Value Estimation by Request
      2,123 SF

      214 Jones Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,123 SF
      214 Jones Ave, Wake Forest, NC 27587-2708
      View Details
    • Value Estimation
      $340,000
      1,642 SF

      2429 Cir Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 1,642 SF
      2429 Cir Dr, Wake Forest, NC 27587-9331
      View Details
    • Value Estimation
      $300,000
      1,722 SF

      216 Jones Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,722 SF
      216 Jones Ave, Wake Forest, NC 27587-2708
      View Details
    • Value Estimation
      $365,000
      3,512 SF

      118 Es Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,512 SF
      118 Es Ave, Wake Forest, NC 27587-2751
      View Details

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      Wake Forest Commercial Parcel

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    647 Wait Ave
    Wake Forest, NC 27587-2729
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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