NOT LISTED FOR SALE

5501 Lares Ln Fuquay Varina, NC 27526

Estimated Value: $462,000 - $583,000

3 Beds
2.5 Baths
2,301 Sq Ft
$221/Sq Ft Est. Value

Last Sold April 27, 2023

Last sale price $435,000 $189 Per Sq Ft

Est. 17% increase in value since last sale

Current estimated payment $2,957/month

8 Days on Market

Highlights

  • 0.79 Acre Lot
  • Ranch Style House
  • 1 Fireplace
  • Buckhorn Creek Elementary Rated A
  • Wood Flooring
  • Cooling Available

About This Home

As of April 2023

Great cul-de-sac home located in Prescott Downs Subdivision! Come see this spacious ranch, split-bedroom floor plan. All bedrooms are located on the first floor, including the master bedroom suite and large walk-in closet! Living room, kitchen and breakfast nook are all open to each other and special meals can be enjoyed in the separate, formal dining room. You will have ample flex space for anything you can dream of in the above-garage bonus room! Large lot features a spacious front yard as well as a fenced-in back yard with tons of deck space for entertaining and grilling. Seller will pay 2% closing credit if under contract by 3/31/23, negotiable prior to executed contract! Closing credit must be referenced in final accepted offer.

Last Agent to Sell the Property

John Cole

Integra Realty License #268364 Listed on: 02/23/2023

Integra Realty

Last Buyer's Agent

Alex Machikas

TME Premier Properties, LLC License #314944

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $2,237

Year Built

  • Built in 2001

Lot Details

  • 0.79 Acre Lot

HOA Fees

  • $22 Monthly HOA Fees

Parking

  • 2 Car Garage
  • Side Facing Garage
  • Private Driveway

Home Design

  • Ranch Style House

Interior Spaces

  • 2,301 Sq Ft Home
  • 1 Fireplace

Flooring

  • Wood
  • Carpet
  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 3 Bedrooms

Schools

  • Wake County Schools Elementary And Middle School
  • Wake County Schools High School

Utilities

  • Cooling Available
  • Heat Pump System
  • Electric Water Heater

Community Details

  • Prescott Downs Subdivision

Home Details

Home Type

Single Family

Est. Annual Taxes

$2,237

Year Built

Built in 2001

Lot Details

0

HOA Fees

$22 per month

Parking

2

Listing Details

  • Year Built: 2001
  • Prop. Type: Residential
  • Subdivision Name: Prescott Downs
  • Above Grade Finished Sq Ft: 2301.0
  • Architectural Style: Ranch
  • Carport Y N: No
  • Garage Yn: No
  • Unit Levels: One
  • New Construction: No
  • Contract Information Ownership Type: Other
  • General Property Information Lot Size Dimensions: Per GIS
  • General Property Information Association Fee Required YN: Yes
  • General Property Information Basement YN: No
  • General Property Information Fireplace YN: Yes
  • Architectural Style Ranch: Yes
  • Flooring Tile: Yes
  • Levels One: Yes
  • Structure Type Site Built: Yes
  • Flooring Carpet: Yes
  • Flooring Hardwood: Yes
  • Room Types Primary Bedroom Level: M
  • Flooring Vinyl: Yes
  • General Property Information Above Grade Finished Area: 2301.0
  • General Property Information Carport YN: No
  • General Property Information Lot Size Square Feet2: 34412.4
  • General Property Information Lot Size Acres: 0.79
  • Special Features: VirtualTour
  • Property Sub Type: Detached

Interior Features

  • Flooring: Carpet, Hardwood, Tile, Vinyl
  • Appliances: Electric Water Heater
  • Basement YN: No
  • Full Bathrooms: 2
  • Half Bathrooms: 1
  • Total Bedrooms: 3
  • Fireplaces: 1
  • Total Bedrooms: 7
  • Appliances:Electric Water Heater: Yes
  • Fireplace Features:Fireplaces Total: 1

Exterior Features

  • Acres: 0.79
  • Construction Type: Fiber Cement
  • Construction Materials:Fiber Cement: Yes

Garage/Parking

  • Attached Garage: No
  • Garage Spaces: 2.0
  • Parking Features: Concrete, Driveway, Garage, Garage Faces Side
  • Parking Features:Garage: Yes
  • Parking Features:Concrete4: Yes
  • Parking Features:Driveway: Yes
  • Parking Features:Garage Faces Side: Yes
  • General Property Information:Garage Spaces: 2.0

Utilities

  • Heating: Electric, Heat Pump
  • Cooling: Heat Pump
  • Cooling Y N: Yes
  • HeatingYN: Yes
  • Heating:Electric4: Yes
  • Heating:Heat Pump2: Yes
  • HeatingCooling:Heat Pump: Yes

Condo/Co-op/Association

  • Association Fee: 260.0
  • Association Fee Frequency: Annually
  • Association: Yes

Association/Amenities

  • General Property Information:Association Fee: 260.0
  • General Property Information:Association Fee Frequency: Annually

Schools

  • Ninth Grade High School: Wake County Schools
  • Middle Or Junior School: Wake County Schools

Lot Info

  • Lot Dimensions: Per GIS
  • Lot Size Sq Ft: 34412.4
  • ResoLotSizeUnits: Acres
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Annual Amount: 2237.0
  • Tax Year: 2022

MLS Schools

  • Elementary School: Wake County Schools

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 23, 2023
Closed on
Apr 19, 2023
Sold by
Amh Nc Properties Lp
Bought by
Rieger Joshua and Gray Aileen Marie
Seller's Agent
John Cole
Integra Realty
Buyer's Agent
Alex Machikas
TME Premier Properties, LLC
List Price
$454,900
Sold Price
$435,000
Premium/Discount to List
-$19,900
-4.37%
Views
18
Current Estimated Value
$508,460

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$73,460
Avg. Annual Appreciation
6.44%
Original Mortgage
$413,250
Outstanding Balance
$397,978
Interest Rate
5%
Mortgage Type
New Conventional
Estimated Equity
$110,482

Purchase Details

Closed on
Jun 4, 2013
Sold by
Ward April C and Ward Lance F
Bought by
American Homes 4 Rent Properties Four Ll

Purchase Details

Closed on
Jan 28, 2005
Sold by
Ward April C and Ward Lance F
Bought by
Ward Lance F and Ward April C

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$177,100
Interest Rate
4.87%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 4, 2003
Sold by
Currin William S and Currin Stella H
Bought by
Cotten April Savannah

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$180,000
Interest Rate
5.74%

Purchase Details

Closed on
Jun 7, 2000
Sold by
Akins Anna R
Bought by
Currin William S
Source: Public Records

Range of Values:

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List Price
Sold Price
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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
Rieger Joshua $435,000 None Listed On Document
American Homes 4 Rent Properties Four Ll $200,000 None Available
Ward Lance F -- --
Cotten April Savannah $210,000 --
Currin William S $34,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Rieger Joshua $413,250
Previous Owner Ward Lance F $177,100
Previous Owner Cotten April Savannah $180,000
Closed Cotten April Savannah $177,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/15/2023 12/15/23 Off Market $435,000 -- --
04/27/2023 04/27/23 Sold $435,000 -2.2% $189 / Sq Ft
04/01/2023 04/01/23 Pending -- -- --
03/28/2023 03/28/23 Price Changed $444,900 -2.2% $193 / Sq Ft
03/24/2023 03/24/23 For Sale $454,900 -- $198 / Sq Ft
Source: Doorify MLS

Tax History Compared to Growth

Source: Public Records

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 $2,967 $460,689 $120,000 $340,689
2024 $2,881 $460,689 $120,000 $340,689
2023 $2,414 $306,988 $44,000 $262,988
2022 $2,237 $306,988 $44,000 $262,988
2021 $2,177 $306,988 $44,000 $262,988
2020 $2,141 $306,988 $44,000 $262,988
2019 $2,131 $258,425 $44,000 $214,425
2018 $1,959 $258,425 $44,000 $214,425
2017 $1,857 $258,425 $44,000 $214,425
2016 $1,820 $258,425 $44,000 $214,425
2015 $2,026 $288,852 $54,000 $234,852
2014 $1,921 $288,852 $54,000 $234,852
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Doorify MLS

MLS Number: 2496518

Doorify MLS

APN: 0647.04-91-7615-000