Today I am featuring the Inman Park Community in North Raleigh in “Midtown”.

Inman Park is a planned subdivision of 156 single-family custom homes and 96 town homes in an area called The Enclave,

The Inman Park Community Association maintains a swimming pool and cabana, street lighting, architectural standards, and the landscape on common property. The Enclave Association performs the same duties for the town homes. The two Associations maintain the swimming pool jointly.

Inman Park is a popular Raleigh neighborhood perfectly located close to every modern convenience you could wish for: large lakes, country clubs, major shopping destinations and other amenities like hospitals and highways.

Inman Park connects with Raleigh’s expansive greenway network, the Capital Area Greenway System, leading you to Shelley Lake in one direction and Crabtree Creek in the other, so you can easily discover the area.

Carolina Country Club and North Hills Club are two popular private golf courses just minutes from Inman Park. Established in 1910, Carolina Country Club remains popular to this day, with tennis facilities, a spectacular golf course, and swimming pool. North Hills Club is also a premier destination for golfing and social events.

Other nearby points of interest close to Inman Park include:

• Crabtree Valley Mall,
• Laurel Hills Park,
• North Hills Shopping Center,
• Sertoma Art Center,
• Umstead State Park

Browse real estate details and see homes for sale in Inman Park.  You can also explore other Triangle Area Neighborhoods.

Today’s Featured Property is an Executive Residence located in the Millrace Subdivision in Wake Forest.   This property is situated on a gorgeous almost 3 acre lot with a pond and an in-ground fabulous pool and cabana.                            The following description of this property is from the Seller:

Executive home listed in Wake Forest NC with only county taxes!!   For great pics, floor plan and the virtual tour go to 5209 Mill Dam Rd.   4458 square feet, brick, hard to find large first floor master (with sitting area + his & hers walk-in closets); 4 bedrooms; flex room easily a 5th bedroom; 3 full bath and 2 half bath; very private 2.86 acres in the much sought after Millrace subdivision (the hidden jewel of Wake Forest); 20 x 40 in-ground pool with rim of fiber optic lighting and surrounded by a beautiful stamped concrete patio in backyard oasis; pool house with half bath, mini-fridge plus separate sink & outdoor hot water shower; 2nd separate patio area off the master bedroom perfect for a hot tub; partially covered large deck with direct access to master bedroom and kitchen both; open and airy floor plan with very large foyer, dining room, living room with fire place flanked by large built-in bookcases, and kitchen with breakfast bar + gathering area / sunroom + eat in area + built in desk and pantry; 42 inch maple cabinets create tons of storage space amid beautiful granite countertops; soaring ceilings throughout the home – up to 14 feet; upstairs includes very large bedroom, large bath, (perfect for a teen suite or in-law suite), flex room, small theatre room (or second flex space), workout area with 2 skylights, 9’x5′ pool table, wetbar & 2nd fireplace, large walkup floored storage area; huge front porch; side entry 2 car garage; turnaround driveway; over 100′ of private access to semi-private pond that spills over picturesque 100+ year old stone waterfall next to community gazebo; the Millrace subdivision consists of 50 truly executive custom homes on large private lots built around 4 interconnecting spring fed ponds for private fishing, kayaking, and observing nature.  Many things convey with the home including all pool equipment, pool table, workout gym, air hockey table, ping pong table, basketball goal and more. Rounding things out are excellent Wake County schools, less than 5 minutes from shopping and restaurants, low HOA dues of only $285/yr and believe it or not…..so much more.  

Pond View

Pool House

5209 Mill Dam Rd., Wake Forest NC 27587

In the last few years, some people who were unable to sell their homes, rented them instead. The market has improved in most places and the home may easily sell now and possibly, for a higher price.

Most homeowners are aware that there is a capital gain exclusion on the profits of a principal residence of up to $250,000 for single taxpayers and $500,000 for married taxpayers filing jointly. The rule requires that you must own and use the home as your principal residence for two out of the last five years.Even though the opportunity to sell in the near future might not change, there could be another opportunity that could quickly disappear for some homeowners.

A homeowner can rent their home for up to three years and still be eligible for the exclusion. As an example, if they had owned and lived in it for two years and then rented it for two and a half years, they would need to sell and close the transaction before the remaining six months expired.

If there was a $200,000 profit in the home that didn’t qualify for the exclusion, a 15% long-term capital gain tax of $30,000 could become due depending on the tax bracket of the owner. With some careful planning, the tax could be avoided. Awareness of the time frames and the right team of tax and real estate professionals could save a considerable amount of the homeowner’s equity.