Henry Thomas Thorpe, 52, was killed in the stabbing in the 900 block of Method Road near Western Boulevard.
A 57-year-old man sustained serious but non-life-threatening injuries.
Tyler Underhill, 19, was charged with murder and assault with a deadly weapon with intent to kill inflicting serious injury.
Thorpe and Underhill were transported to WakeMed. Underhill, 19, was not stabbed as police believed initially. He was taken to Wake County Detention Center.
The stabbing is under investigation.