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Single Family ResidenceResidential
$599,456$278 / ft²
TopHap EstimateOur estimate of what this home would sell for today, based on nearby sales, the home's size and features, and local price trends. It is a starting point, not an appraisal.· confidence 93How well the pricing models agreed with each other on this home. Higher means the estimate rests on stronger, more consistent data.· as of Jul 14, 2026
Last sold for $299,000 on Mar 31, 2009

1361 FORMAL GARDEN WAY

RALEIGH, NC 27603
3
Baths
2,156 ft²
Living AreaTotal finished area of the structures, from county records. Some counties include shared space like hallways or a building gym, so it may not match a listing.
0.1 ac
Lot SizeThe size of the land the home sits on, from county records.
2008
Year BuiltThe year the home was originally built, according to county records.
2
StoriesHow many floors the home has above ground.

Valuation

$599K
$558K low$641K high
Last SaleThe most recent sale price and date from the recorded deed. Transfers between family members or companies may not reflect market value.$299,000 · Mar 31, 2009
Est. Owner EquityRoughly how much of the home's value the owner would keep after paying off known loans. It is our estimate minus the loans still owed.$267,956
Est. Lendable EquityThe part of the owner's equity a lender would typically let them borrow against — about 80% of their equity.$214,365
Loan-to-ValueHow much is still owed on the home compared to what it is worth. 80% means loans equal 80% of our estimate, so it shifts when the estimate does.53%
1st MortgageA loan still believed to be open on this home, in the order lenders get repaid. The first position is paid back before the second.$215,000
WELLS FARGO BANK NA · recorded Jul 6, 2020
2nd MortgageA loan still believed to be open on this home, in the order lenders get repaid. The first position is paid back before the second.$116,500
COASTAL COMMUNITY BANK

Tax & Assessment

Property TaxThe property tax billed for this tax year. It usually pays for schools, roads, and local services.$4,430 (2025)
Assessed ValueThe value the county assigns to this home to calculate property tax. It is often lower than what the home would sell for.$505,660 (2025)
Assessed LandThe share of the county's assessed value that comes from the land itself, not the buildings.$110,000
Assessed ImprovementsThe share of the county's assessed value that comes from the buildings and other structures on the land.$395,660
Previous AssessedThe county's assessed value from the year before, useful for seeing how the assessment changed.$505,660
Assessor Market ValueThe county assessor's own opinion of market value. It is separate from our estimate and updates on the county's schedule.$505,660

Climate Risk

Overall riskThe average of the five hazard scores below, on a 0 to 100 scale. Higher means greater projected risk over the coming decades.13
1
FloodProjected flooding risk from rivers, heavy rain, and storm surge, scored 0 to 100. Higher is riskier.
20
WildfireProjected wildfire risk, scored 0 to 100, based on how much land burns in a typical year. Higher is riskier.
45
DroughtProjected water shortage risk, scored 0 to 100. Higher means more strain on the local water supply.
FEMA Flood ZoneFEMA's flood zone for this address. Zones starting with A or V are high risk, and lenders usually require flood insurance there.minimal

Scores 0–100; higher = greater projected risk.

Property Facts

Property TypeThe broad category the county puts this property in, such as residential or commercial.Single Family Residence
StyleThe architectural style of the home, such as ranch or colonial.Conventional
CountyWake
Lot (acres)The size of the land the home sits on, from county records.0.10
ConstructionThe main material the home's frame and walls are built from.Frame (Unspecified)
HeatingThe type of heating system in the home.Central
CoolingThe type of cooling or air conditioning in the home.Central
FireplaceWhether the home has a fireplace, and what kind.Yes
PoolWhether the property has a pool, and what kind, such as in-ground.No
FeaturesExtra features found in county records. Records are not complete everywhere, so a missing feature does not always mean the home lacks it.Porch · 312 ft²

Transaction History(2)

Sales and refinances filed with the county for this home. Not every transfer is a normal sale, so check the type before comparing prices.

Assigned SchoolsThe public schools this address is zoned for. Boundaries change, so confirm with the district before you count on it.

E
Smith Magnet Elementary SchoolC+
Elementary · Grades PK–5 · 1.8 mi
H
Garner Magnet High SchoolC+
High · Grades 9–12 · 2.3 mi
M
North Garner Magnet Middle SchoolD+
Middle · Grades 6–8 · 3.1 mi

District: Wake County Schools

Neighborhood · ZIP 27603These are comparison scores, not percentages. 100 equals the national average, so 150 means about 50% above average.

CrimeLocal crime compared with the rest of the country, where 100 is average. It reflects things like population density, income, and how crime gets reported.108
Air pollutionOverall air pollution compared with the rest of the country, where 100 is average. Lower is cleaner.85
EarthquakeEarthquake risk and likely building damage compared with the rest of the country, where 100 is average. Scores can run far above 100.43

Index scale: 100 = US average (tick). Lower is better.

Homes occupiedThe share of homes here that someone lives in. The rest sit empty, including vacation and for-sale homes.93%
Bachelor's or higherThe share of adults 25 and older whose highest degree is a bachelor's degree.34%
Poverty rateThe share of people whose household income falls below the federal poverty line, which varies by family size.11%
UnemploymentThe share of men 16 and older who are out of work and actively looking. Only men are counted in this figure.1.1%
PopulationHow many people live in this area.62,816
DensityPeople per square mile. Higher numbers mean a more crowded, urban area.1,202 / mi²
Median incomeThe middle household income here — half of households earn more, half earn less.$86,402
Average incomeThe average household income. It runs higher than the median when a few high earners pull it up.$112,306
Average tempThe average temperature here across a full year.60°F
Annual precipHow much rain and melted snow falls here in a typical year.47 in
SunshineThe share of daylight hours that get direct sun in a typical year, counting cloud cover.58%

Ownership

OccupancyWhether the owner appears to live here or somewhere else. It is inferred from the mailing address on record.Owner occupied
Company ownedWhether the owner is a company or trust rather than a person.No

Data by ATTOM. Valuations are automated estimates, not appraisals. Photos from Google Street View and may not depict the current property state.

How this home compares

1361 Formal Garden Way measured against every home in its neighborhood, its ZIP code and its county, using county assessor records refreshed nightly. A home can stand out in one of those areas and look ordinary in another, because each one holds a different mix of homes.

  • Worth more than 95% of homes in Southwest Raleigh
  • Costs more per square foot than 84% of homes in Raleigh 27603
  • Bigger than 86% of homes in Southwest Raleigh
  • Has a smaller lot than 85% of homes in Raleigh 27603
  • Newer than 81% of homes in Southwest Raleigh

What homes are worth in Raleigh 27603

Each bar is how many homes fall in that price range. The marker is this home.

This home
$198K$987K

This home is worth more than 83% of homes in Raleigh 27603.

How it measures up in Raleigh 27603

The dot is this home. The mark in the middle is the typical home in Raleigh 27603.

Estimated value$599,456
CheaperTypical $405,436Pricier

Pricier than 83% of homes nearby

Price per ft²$278
CheaperTypical $219Pricier

Pricier than 84% of homes nearby

Living area2,156 ft²
SmallerTypical 1,804 ft²Bigger

Bigger than 66% of homes nearby

Lot size0.1 ac
SmallerTypical 0.49 acBigger

Bigger than 15% of homes nearby

Year built2008
OlderTypical 2000Newer

Newer than 76% of homes nearby

How 1361 Formal Garden Way ranks against every home in each area.
MeasureThis homeSouthwest RaleighRaleigh 27603Wake County
Estimated valuepricier than$599,45695% of homes83% of homes67% of homes
Price per ft²pricier than$27883% of homes84% of homes78% of homes
Living areabigger than2,156 ft²86% of homes66% of homes51% of homes
Lot sizebigger than0.1 ac33% of homes15% of homes19% of homes
Year builtnewer than200881% of homes76% of homes69% of homes

About 1361 Formal Garden Way

How much is 1361 Formal Garden Way, Raleigh, NC worth?

The TopHap Estimate for 1361 Formal Garden Way, Raleigh, NC is $599,456 as of Jul 14, 2026. The likely range is $557,693 to $641,219. The estimate is modelled from recorded sales, assessments and the property's own characteristics — it is not an appraisal.

When did 1361 Formal Garden Way, Raleigh, NC last sell?

1361 Formal Garden Way, Raleigh, NC last sold on Mar 31, 2009 for $299,000, according to the county's recorded deed.

How big is 1361 Formal Garden Way, Raleigh, NC?

1361 Formal Garden Way, Raleigh, NC has 3 bathrooms, 2,156 square feet of living space and a 0.10-acre lot.

When was 1361 Formal Garden Way, Raleigh, NC built?

1361 Formal Garden Way, Raleigh, NC was built in 2008, making it 18 years old. It is a conventional home. The building has 2 stories.

What schools serve 1361 Formal Garden Way, Raleigh, NC?

1361 Formal Garden Way, Raleigh, NC is assigned to Smith Magnet Elementary School (elementary), rated C+; Garner Magnet High School (high), rated C+; North Garner Magnet Middle School (middle), rated D+. All sit in Wake County Schools. Attendance boundaries change — confirm with the district before relying on an assignment.

How does 1361 Formal Garden Way, Raleigh, NC compare to other homes in Raleigh 27603?

Among the 18,308 homes in Raleigh 27603, it is worth more than 83% of them ($599,456 against a typical $405,436), its price per square foot is higher than 84% of them ($278 against a typical $219), it is bigger than 66% of them (2,156 ft² against a typical 1,804 ft²), its lot is bigger than 15% of them (0.1 ac against a typical 0.49 ac) and it is newer than 76% of them (2008 against a typical 2000). Measured against all of Wake County, it is worth more than 67% of homes there. These shares are recounted nightly from the full county assessor record for each area, not from active listings.

What are the property taxes on 1361 Formal Garden Way, Raleigh, NC?

The 2025 property tax bill for 1361 Formal Garden Way, Raleigh, NC was $4,430. The county assessed it at $505,660.

Closest homes

More homes in Raleigh 27603

Assigned schools

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