NOT LISTED FOR SALE

1008 Frank Bailey Rd Wake Forest, NC 27587

Falls Lake Neighborhood

Estimated Value: $1,404,000 - $1,583,000

4 Beds
4.5 Baths
4,350 Sq Ft
$340/Sq Ft Est. Value

Last Sold March 10, 2025

Last sale price $1,525,000 $351 Per Sq Ft

Est. 3% decrease in value since last sale

Current estimated payment $8,335/month

139 Days on Market

Highlights

  • Paddocks
  • New Construction
  • Open Floorplan
  • North Forest Pines Elementary School Rated A
  • 1.83 Acre Lot
  • Family Room with Fireplace

About This Home

As of March 2025

Introducing a custom-built home by Capstone Builders. This amazing home is situated on an expansive 1.83 acre home site with abundant privacy and opportunities for outdoor living, pool and/or a detached garage. Home site is located only a mile from Hwy 98 off Stony Hill Rd, with quick access to Wake Forest and Raleigh.
Enter through double mahogany doors into an open floor plan with 10' ceilings throughout 1st floor. A gourmet kitchen features a large island with seating, Silestone countertops, Monogram SS appliances featuring a 48'' dual fuel range and 42'' built-in refrigerator. A large pantry provides additional cabinet space and shelving including a prep sink with a beverage center. A unique feature of this home is the cozy sunroom and breakfast space area that you can enjoy coffee in morning or wine in the afternoon. A large, formal dining room and private office offer custom trim details. The primary suite includes a vaulted ceiling, hardwoods and spacious closet. A luxurious primary bathroom with plentiful natural light features separate vanities, freestanding tub w/ tub filler, super shower with a zero entry and floating shower seat. You may
never leave this private retreat!
Your great room offers bountiful space and furniture layouts. Large tiles surround a fireplace with built-ins. A 16' double sliding door leads to a huge, vaulted covered porch featuring an additional fireplace. The large backyard with wooded perimeter provides privacy and many opportunities for outdoor living. Additionally, the home has that much needed 1st floor guest bedroom with private bath and a large laundry room with a custom built mudroom bench. Upstairs the home includes a large recreational space, two large secondary bedrooms, a second office/flex space and ample attic storage.

Last Agent to Sell the Property

Jim Allen

Coldwell Banker HPW License #126077 Listed on: 09/25/2024

Last Buyer's Agent

Beth Peterson

Costello Real Estate & Investm License #286012

Costello Real Estate & Investm

Home Details

Home Type

  • Single Family

Year Built

  • Built in 2024 | New Construction

Lot Details

  • 1.83 Acre Lot
  • Landscaped
  • Partially Wooded Lot
  • Back and Front Yard

Parking

  • 3 Car Attached Garage
  • Front Facing Garage
  • Side Facing Garage
  • Garage Door Opener
  • Private Driveway
  • 2 Open Parking Spaces

Home Design

  • Transitional Architecture
  • Traditional Architecture
  • Brick Exterior Construction
  • Brick Foundation
  • Frame Construction
  • Architectural Shingle Roof
  • Board and Batten Siding

Interior Spaces

  • 4,350 Sq Ft Home
  • 2-Story Property
  • Open Floorplan
  • Built-In Features
  • Crown Molding
  • Smooth Ceilings
  • Vaulted Ceiling
  • Ceiling Fan
  • Gas Log Fireplace
  • Propane Fireplace
  • Sliding Doors
  • Entrance Foyer
  • Family Room with Fireplace
  • 2 Fireplaces
  • Combination Kitchen and Dining Room
  • Home Office
  • Recreation Room
  • Sun or Florida Room
  • Storage
  • Home Gym

Kitchen

  • Eat-In Kitchen
  • Breakfast Bar
  • Butlers Pantry
  • Self-Cleaning Oven
  • Built-In Gas Range
  • Microwave
  • Ice Maker
  • Dishwasher
  • Stainless Steel Appliances
  • Kitchen Island
  • Quartz Countertops

Flooring

  • Wood
  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 4 Bedrooms
  • Primary Bedroom on Main
  • Walk-In Closet
  • In-Law or Guest Suite
  • Double Vanity
  • Private Water Closet
  • Separate Shower in Primary Bathroom
  • Soaking Tub
  • Bathtub with Shower
  • Separate Shower

Laundry

  • Laundry Room
  • Laundry on main level
  • Washer and Electric Dryer Hookup

Attic

  • Attic Floors
  • Unfinished Attic

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Outdoor Features

  • Covered Patio or Porch
  • Outdoor Fireplace
  • Rain Gutters

Schools

  • Forest Pines Elementary School
  • Wakefield Middle School
  • Wakefield High School

Horse Facilities and Amenities

  • Paddocks

Utilities

  • Forced Air Heating and Cooling System
  • Underground Utilities
  • Well
  • Tankless Water Heater
  • Septic Tank
  • Septic System
  • Phone Available
  • Cable TV Available

Community Details

  • No Home Owners Association
  • Built by Capstone Builders, Inc
  • Custom

Listing and Financial Details

  • Assessor Parcel Number 1811782432

Home Details

Home Type

Single Family

Year Built

Built in 2024 | New Construction

Lot Details

1.83 Acres

Parking

3

Listing Details

  • Builder Name: Capstone Builders, Inc
  • Builder Model: Custom
  • Year Built: 2024
  • Prop. Type: Residential
  • Horses: No
  • Road Surface Type: Asphalt
  • Subdivision Name: Not in a Subdivision
  • Above Grade Finished Sq Ft: 4350.0
  • Architectural Style: Traditional, Transitional
  • Carport Y N: No
  • Garage Yn: Yes
  • Unit Levels: Two
  • New Construction: Yes
  • Effective Year Built: 2024
  • General Property Information Lot Size Dimensions: see plot plan
  • General Property Information Basement YN: No
  • General Property Information Fireplace YN: Yes
  • Appliances Microwave: Yes
  • Architectural Style Transitional: Yes
  • Cooling Central Air: Yes
  • Flooring Tile: Yes
  • Interior Features BathtubShower Combination: Yes
  • Interior Features KitchenDining Room Combination: Yes
  • Interior Features Water Closet: Yes
  • Laundry Features Laundry Room: Yes
  • Laundry Features Main Level: Yes
  • Security Features Smoke Detector(s): Yes
  • Structure Type Site Built: Yes
  • Contract Information Estimated Completion Date: 2025-01-31
  • Flooring Carpet: Yes
  • Flooring Hardwood: Yes
  • Interior Features Separate Shower: Yes
  • Interior Features Smooth Ceilings: Yes
  • Levels Two: Yes
  • Property Condition Framed: Yes
  • Water Source Well: Yes
  • Room Types Bedroom 2 Level: Main
  • Room Types Bedroom 3 Level: Second
  • Room Types Bedroom 4 Level: Second
  • Room Types Dining Room2: Yes
  • Room Types Family Room2: Yes
  • Architectural Style Traditional: Yes
  • Room Types Office: Yes
  • Room Types Primary Bedroom Level: Main
  • Laundry Features Electric Dryer Hookup: Yes
  • Utilities Cable Available: Yes
  • Room Types Sunroom: Yes
  • General Property Information Senior Community YN: No
  • In-Law Suite Details Main Foor: Yes
  • Room Types Recreation Room3: Yes
  • Foundation Details BrickMortar: Yes
  • Attic Features Unfinished2: Yes
  • General Property Information Enhanced Accessible2: No
  • General Property Information Horse YN2: No
  • Utilities Electricity Available: Yes
  • Utilities Phone Available: Yes
  • Utilities Water Connected: Yes
  • General Property Information Spa YN: No
  • General Property Information Above Grade Finished Area: 4350.0
  • General Property Information Carport YN: No
  • Laundry Features Washer Hookup: Yes
  • Utilities Sewer Available: Yes
  • Room Types Laundry2: Yes
  • Utilities Underground Utilities: Yes
  • Roof Architectural Shingle: Yes
  • Common Walls No Common Walls: Yes
  • Utilities Septic Connected: Yes
  • Vegetation Partially Wooded: Yes
  • Property Condition New Construction: Yes
  • Security Features Carbon Monoxide Detector(s): Yes
  • General Property Information Lot Size Square Feet2: 79714.8
  • General Property Information Lot Size Acres: 1.83
  • Room Types Gym: Yes
  • General Property Information Stories2: 2
  • General Property Information:Living Area3: 4350.0
  • General Property Information Builder Name: Capstone Builders, Inc
  • General Property Information Builder Model: Custom
  • Special Features: NewHome
  • Property Sub Type: Detached
  • Stories: 2
  • Year Renovated: 2024

Interior Features

  • Flooring: Carpet, Hardwood, Tile
  • Interior Amenities: Bathtub/Shower Combination, Breakfast Bar, Built-in Features, Butler's Pantry, Ceiling Fan(s), Crown Molding, Double Vanity, Eat-in Kitchen, Entrance Foyer, In-Law Floorplan, Kitchen Island, Kitchen/Dining Room Combination, Open Floorplan, Pantry, Primary Downstairs, Quartz Counters, Separate Shower, Smooth Ceilings, Soaking Tub, Storage, Vaulted Ceiling(s), Walk-In Closet(s), Walk-In Shower, Water Closet
  • Spa Features: None
  • Private Spa: No
  • Appliances: Built-In Gas Range, Dishwasher, Gas Range, Ice Maker, Microwave, Self Cleaning Oven, Stainless Steel Appliance(s), Tankless Water Heater
  • Basement YN: No
  • Full Bathrooms: 4
  • Half Bathrooms: 1
  • Total Bedrooms: 4
  • Door Features: Sliding Doors
  • Fireplace Features: Family Room, Gas Log, Outside, Propane
  • Fireplaces: 2
  • Stories: 2
  • Appliances Dishwasher: Yes
  • Appliances:Tankless Water Heater: Yes
  • Interior Features:Ceiling Fan(s)2: Yes
  • Interior Features:Double Vanity: Yes
  • Interior Features:Entrance Foyer: Yes
  • Interior Features:Pantry: Yes
  • Interior Features:Primary Downstairs: Yes
  • Interior Features:Walk-In Closet(s): Yes
  • Interior Features:Walk-In Shower: Yes
  • Fireplace Features:Family Room: Yes
  • Fireplace Features:Outside: Yes
  • Fireplace Features:Propane: Yes
  • Interior Features:Eat-in Kitchen: Yes
  • Interior Features:Quartz Counters: Yes
  • Interior Features:Storage3: Yes
  • Fireplace Features:Gas Log: Yes
  • Interior Features:Soaking Tub: Yes
  • Appliances:Self Cleaning Oven: Yes
  • Interior Features:Vaulted Ceiling(s): Yes
  • Attic Features:Floored: Yes
  • Appliances:Gas Range: Yes
  • Attic Features:Walk-In Attic: Yes
  • Interior Features:In-Law Floorplan: Yes
  • Interior Features:Butler_squote_s Pantry: Yes
  • Appliances:Stainless Steel Appliance(s): Yes
  • Fireplace Features:Fireplaces Total: 2
  • Appliances:Ice Maker: Yes
  • Interior Features:Crown Molding: Yes
  • Interior Features:Built-in Features: Yes
  • Interior Features:Kitchen Island: Yes
  • Interior Features:Open Floorplan: Yes
  • Interior Features:Breakfast Bar: Yes
  • Appliances:Built-In Gas Range: Yes

Exterior Features

  • Roof: Architectural Shingle
  • Exterior Features: Rain Gutters
  • Fencing: None
  • Acres: 1.83
  • Common Walls: No Common Walls
  • Construction Type: Board & Batten Siding, Brick, Fiber Cement
  • Foundation Details: Brick/Mortar
  • Patio And Porch Features: Covered, Front Porch, Porch, Rear Porch
  • Construction Materials:Fiber Cement: Yes
  • Exterior Features:Rain Gutters: Yes
  • Lot Features:Landscaped: Yes
  • Patio and Porch Features:Porch: Yes
  • Construction Materials:Board Batten Siding: Yes
  • Patio And Porch Features:Covered2: Yes
  • Construction Materials:Brick: Yes
  • Lot Features:Back Yard2: Yes
  • Patio And Porch Features:Front Porch: Yes
  • Lot Features:Front Yard2: Yes
  • Patio And Porch Features:Rear Porch: Yes
  • Door Features:Sliding Doors: Yes

Garage/Parking

  • Attached Garage: Yes
  • Garage Spaces: 3.0
  • Open Parking Spaces: 2.0
  • Open Parking: Yes
  • Parking Features: Attached, Concrete, Driveway, Garage, Garage Door Opener, Garage Faces Front, Garage Faces Side
  • Total Parking Spaces: 5.0
  • Parking Features:Attached: Yes
  • Parking Features:Garage: Yes
  • Parking Features:Garage Door Opener: Yes
  • Parking Features:Concrete4: Yes
  • Parking Features:Driveway: Yes
  • Parking Features:Garage Faces Front: Yes
  • Parking Features:Garage Faces Side: Yes
  • General Property Information:Garage Spaces: 3.0
  • General Property Information:Attached Garage YN: Yes
  • General Property Information:Parking Total: 5.0
  • General Property Information:Open Parking YN2: Yes
  • General Property Information:Open Parking Spaces2: 2.0

Utilities

  • Utilities: Cable Available, Electricity Available, Phone Available, Septic Connected, Sewer Available, Water Connected, Underground Utilities
  • Heating: Central, Forced Air
  • Cooling: Central Air
  • Cooling Y N: Yes
  • HeatingYN: Yes
  • Water Source: Well
  • Heating:Forced Air: Yes
  • Sewer Septic Tank: Yes
  • Heating:Central: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Association/Amenities

  • Association Amenities:None: Yes
  • Horse Amenities:None11: Yes
  • General Property Information:Association YN: No
  • Horse Amenities:Paddocks: Yes

Schools

  • Ninth Grade High School: Wake - Wakefield
  • Middle Or Junior School: Wake - Wakefield

Lot Info

  • Horse Amenities: Paddocks, None
  • Lot Dimensions: see plot plan
  • Lot Size Sq Ft: 79714.8
  • ResoLotSizeUnits: Acres
  • Parcel #: 1811782432
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Year: 2024

MLS Schools

  • Elementary School: Wake - Forest Pines

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 25, 2024
Closed on
Mar 10, 2025
Sold by
Capstone Builders Llc and Capstone Builders Inc
Bought by
Lasher Mark and Lasher Leslie
Seller's Agent
Jim Allen
Coldwell Banker HPW
Buyer's Agent
Beth Peterson
Costello Real Estate & Investm
List Price
$1,550,000
Sold Price
$1,525,000
Premium/Discount to List
-$25,000
-1.61%
Views
48
Current Estimated Value
$1,481,013

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$43,987
Avg. Annual Appreciation
-2.83%
Original Mortgage
$1,125,000
Outstanding Balance
$1,119,342
Interest Rate
6.96%
Mortgage Type
New Conventional
Estimated Equity
$361,671

Purchase Details

Closed on
Nov 16, 2023
Sold by
Spreen Paul and Spreen Mindy
Bought by
Capstone Builders Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Interest Rate
7.49%
Mortgage Type
Construction

Purchase Details

Closed on
Oct 25, 2022
Sold by
Brewer Betty W
Bought by
Spreen Paul

Purchase Details

Closed on
May 1, 1981
Bought by
Brewer Betty W
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Lasher Mark $1,525,000 None Listed On Document
Capstone Builders Llc $250,000 None Listed On Document
Spreen Paul $450,000 --
Brewer Betty W $11,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Lasher Mark $1,125,000
Previous Owner Capstone Builders Llc $1,000,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/11/2025 03/11/25 Price Changed $1,525,000 0.0% $351 / Sq Ft
03/10/2025 03/10/25 Sold $1,525,000 -1.6% $351 / Sq Ft
02/11/2025 02/11/25 Pending -- -- --
09/25/2024 09/25/24 For Sale $1,550,000 -- $356 / Sq Ft
Source: Doorify MLS

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $7,549 $1,190,678 $150,000 $1,040,678
2024 $932 $150,000 $150,000 --
Source: Public Records

Agents Affiliated with this Home

  • Jim Allen

    Seller's Agent in 2025

    Jim Allen

    Coldwell Banker HPW

    (919) 845-9909

    468 in this area

    4,649 Total Sales

    Jim Allen
    Section Image
  • Beth Peterson

    Buyer's Agent in 2025

    Beth Peterson

    Costello Real Estate & Investm

    (919) 438-2598

    16 in this area

    82 Total Sales

    Beth Peterson
    Section Image
See All Agents

Map

Source: Doorify MLS

MLS Number: 10054662

Doorify MLS

APN: 1811.02-78-2432-000

North Carolina Wake County Wake Forest 27587 Falls Lake

1008 Frank Bailey Rd, Wake Forest, NC

Not Listed for Sale

Detached

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