Back on the market at no fault to the sellers! See agent remarks! Calling all Mid-Century Modern lovers! This is a diamond in the rough. It needs some work and is priced accordingly but has SUCH potential! Experience the epitome of lakeside living in this architecturally significant home designed by Arthur Cogswell, nestled on the serene shores of Lake Trace in the prestigious Carolina Trace community. The residence features 3 bedrooms and 2.5 bathrooms, providing ample space for comfortable living. You'll love the gourmet kitchen: The kitchen is equipped with granite and Corian countertops, Kraft Maid maple cabinets, and a stylestone peninsula, perfect for culinary enthusiasts. The property boasts a detached garage with an unfinished upstairs space, offering potential for customization and beautiful lake front pathways.
Sold for $400,000
$400,000
1116 Falling Strm, Sanford, NC 27332
3beds
2,323sqft
Single Family Residence
Built in 1975
0.64 Acres Lot
$392,600 Zestimate®
$172/sqft
$2,357 Estimated rent
Home value
$392,600
$318,000 - $483,000
$2,357/mo
Zestimate® history
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List your homeWhat's special
Detached garageGourmet kitchenStylestone peninsulaAnderson windowsGranite and corian countertopsHeated tile floorBeautiful lake front pathways
Zillow last checked:
Listing updated:
Listed by:
KATHERINE SMITH,
COLDWELL BANKER ADVANTAGE - FAYETTEVILLE
Bought with:
Rob Partin, 258076
Long & Foster Real Estate INC/Raleigh
Source: LPRMLS,MLS#: 744892
Originating MLS: Longleaf Pine Realtors
Originating MLS: Longleaf Pine RealtorsFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 3
- Full bathrooms: 2
- 1/2 bathrooms: 1
Heating
- Electric, Forced Air
Cooling
- Central Air, Electric
Appliances
- Included: Dishwasher, Range, Refrigerator
- Laundry: Washer Hookup, Dryer Hookup, Main Level, In Unit
Features
- Ceiling Fan(s), Cathedral Ceiling(s), Entrance Foyer, Eat-in Kitchen, Granite Counters, Kitchen Island, Kitchen/Dining Combo, Storage, Unfurnished, Vaulted Ceiling(s), Walk-In Closet(s)
- Flooring: Carpet, Hardwood, Tile
- Basement: Partially Finished
- Number of fireplaces: 1
- Fireplace features: Gas
Interior area
- Total interior livable area: 2,323 sqft
Property
Parking
- Total spaces: 2
- Parking features: Detached, Garage
- Garage spaces: 2
Features
- Levels: Multi/Split
- Patio & porch: Balcony, Rear Porch, Covered, Deck, Front Porch, Porch, Screened
- Exterior features: Balcony, Deck, Porch
- Has view: Yes
- View description: Water
- Has water view: Yes
- Water view: Water
Lot
- Size: 0.64 Acres
- Features: Cul-De-Sac, Dead End, Rolling Slope, Wooded
- Topography: Rolling
- Residential vegetation: Wooded
Details
- Parcel number: 966094903600
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Split Level
- Property subtype: Single Family Residence
Materials
- Wood Frame
Condition
- New construction: No
- Year built: 1975
Community & neighborhood
Security
- Security features: Gated with Guard, Gated Community
Community
- Community features: Community Pool, Golf, Gated, Waterfront
Location
- Region: Sanford
- Subdivision: Carolina Trace
HOA & financial
HOA
- Has HOA: Yes
- HOA fee: $875 annually
- Association name: South Landing-Carolina Trace Hoa
Other
Other facts
- Listing terms: Cash,Conventional,FHA,VA Loan
- Ownership: More than a year
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 11/18/2025 | Sold | $400,000-2.4%$172/sqft |
Source:  LPRMLS #744892 Report a problem | ||
| 11/6/2025 | Pending sale | $410,000$176/sqft |
Source: LPRMLS #744892 Report a problem | ||
| 11/3/2025 | Price change | $410,000-3.5%$176/sqft |
Source: LPRMLS #744892 Report a problem | ||
| 9/9/2025 | Pending sale | $425,000$183/sqft |
Source: LPRMLS #744892 Report a problem | ||
| 9/8/2025 | Price change | $425,000-10.5%$183/sqft |
Source: LPRMLS #744892 Report a problem | ||
| 7/22/2025 | Price change | $475,000-9.5%$204/sqft |
Source: LPRMLS #744892 Report a problem | ||
| 7/10/2025 | Price change | $525,000-8.7%$226/sqft |
Source: LPRMLS #744892 Report a problem | ||
| 6/5/2025 | Listed for sale | $575,000+18.7%$248/sqft |
Source: LPRMLS #744892 Report a problem | ||
| 4/4/2012 | Listing removed | $484,500$209/sqft |
Source: Visual Tour #85869 Report a problem | ||
| 1/7/2012 | Listed for sale | $484,500+6.5%$209/sqft |
Source: Visual Tour #85869 Report a problem | ||
| 9/6/2011 | Sold | $455,000-6.1%$196/sqft |
Source:  Hive MLS #142235 Report a problem | ||
| 6/3/2011 | Listed for sale | $484,500$209/sqft |
Source: Listhub #142235 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,560 +4.1% | $429,800 |
| 2024 | $3,419 +0.5% | $429,800 |
| 2023 | $3,403 +15.4% | $429,800 +26.2% |
| 2022 | $2,949 | $340,500 |
| 2021 | -- | $340,500 |
| 2020 | $3,084 +1.2% | $340,500 |
| 2019 | $3,047 -19.4% | $340,500 -18.4% |
| 2018 | $3,778 +0.1% | $417,500 |
| 2017 | $3,775 | $417,500 |
| 2016 | $3,775 +0.1% | $417,500 |
| 2014 | $3,772 | $417,500 |
| 2013 | -- | $417,500 +52.2% |
| 2012 | -- | $274,400 +23.2% |
| 2011 | -- | $222,700 |
| 2010 | -- | $222,700 |
Find assessor info on the county website
Neighborhood: 27332
Nearby schools
GreatSchools rating
- 8/10J Glenn Edwards Elementary SchoolGrades: K-5Distance: 3.6 mi
- 4/10East Lee Middle SchoolGrades: 6-8Distance: 3.6 mi
- 3/10Lee County High SchoolGrades: 9-12Distance: 4.8 mi
Schools provided by the listing agent
- Middle: East Lee Middle
- High: Lee County High
Source: LPRMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- North Carolina
- Lee County
- Sanford
- 27332
- 1116 Falling Strm
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