Sales comparison approach using recent sales of similar properties in the area. Adjusted for lot size, age, and condition. Assessed value of $359,700 appears below market.
Nearly One-Acre Lot with Spacious 4BR Home in Old Forest
What stands out first at 2201 Old Forest Drive is the land — a generous, level 0.92-acre parcel that gives this contemporary-traditional home a rare sense of room to breathe inside Hillsborough’s sought-after Old Forest neighborhood. Set back from the street, the house offers privacy and outdoor flexibility: play space, gardening, and potential for an accessory building are all possibilities under R-1 zoning.
Inside, 2,446 square feet unfold across two stories of well-maintained living space. Hardwood floors run through much of the home, and a central fireplace anchors family gatherings with warmth and visual character. The kitchen has been updated with a modern sensibility — efficient layout and finishes that support everyday cooking and entertaining — while public rooms feel bright and proportioned for both weekday routines and holiday crowds. With four bedrooms and two-and-a-half baths, there’s a primary suite and plenty of room for a home office or guest room.
Practical systems and features include central heating and cooling, an asphalt shingle roof, municipal water and sewer, and a two-car attached garage with driveway parking. The level lot and straightforward driveway make ingress and outdoor maintenance convenient. There’s no basement, which simplifies access to mechanicals and makes yard-to-house transitions effortless.
Location is a strong part of the appeal. Families will appreciate proximity to New Hope Elementary (approx. 2.1 miles), A L Stanback Middle (1.6 miles) and Cedar Ridge High (3.6 miles). Downtown Hillsborough’s restaurants, galleries and seasonal events are about a 10-minute drive, while Occoneechee Mountain State Natural Area sits roughly four miles away for quick access to trails and hilltop views. Being part of the Durham–Chapel Hill MSA places employers, universities and medical centers within an easy commute.
From an investment and value perspective, recent area sales support a price range that positions this house competitively; current market analysis places fair value between approximately $580K and $654K. The property’s assessed value is notably lower than market estimates, creating potential upside for buyers mindful of long-term appreciation in a market with limited inventory. Schedule a tour to experience the scale of the lot, the quality of finishes, and the practical family layout that make this Old Forest residence a compelling choice for owners seeking space, good schools, and easy access to Hillsborough’s amenities.
See the properties helping shape the valuation.
Comparable sales
- 454 SF larger
- 0.5 additional bathrooms
- Similar lot size
- 1 year newer
- 346 SF smaller
- 0.5 fewer bathrooms
- Similar lot size
- 1 year older
- 146 SF smaller
- 1 fewer bedroom
- 0.5 additional bathrooms
- Similar lot size
- Same year built
A 2004 traditional on 0.92 acres.
Building
Site & utilities
Old Forest
Researched nearby locations
Location
2201 Old Forest Dr, Hillsborough, NC 27278
Old Forest offers the calm, residential character many buyers seek while remaining close to downtown Hillsborough’s cultural and dining options. Streets are lined with single-family homes on larger lots, creating a suburban feel with quick access to the region’s parks and natural areas. Families gravitate to the neighborhood for proximity to highly rated New Hope Elementary and convenient commutes into the Durham–Chapel Hill employment centers. Community events in downtown Hillsborough, local shops and seasonal outdoor activities give residents a balance of small-town charm and regional amenities.
Very good access to outdoor recreation with Occoneechee Mountain State Natural Area about 4 miles away, downtown parks and green spaces nearby, and neighborhood streets well-suited to walking and biking.
A factual market snapshot around 2201 Old Forest Dr.
Orange County and the Hillsborough market currently favor sellers: inventory sits near 2.5 months and average days on market for similar single-family homes is about 30 days. Median sale prices in the immediate area trend around $500,000, and year-over-year appreciation is modest but steady (about 5% over the last 12 months and roughly 25% over five years). Comparable recent sales on Old Forest Drive show price-per-square-foot metrics ranging roughly from $223 to $263, and a local sales-comparison valuation for this 2,446 sf home centers near $252/sf. Single-family homes in neighborhoods like Old Forest move more quickly than condos or multifamily units, driven by family demand and limited lot inventory.
For buyers: expect some competition and quick decision-making windows. For sellers: the present conditions support pricing with confidence, especially for well-kept homes on larger lots. Investors looking at rental performance can expect estimated monthly rents near $2,400 (gross yield roughly 4.7%), though owner-occupant buyers will find the proximity to top elementary schools and regional job centers particularly compelling. Verify current comparable closings and days-on-market snapshots with your agent for the most up-to-date transactional context.
Single-Family Residential
Zoning
Research-indicated uses
- Single Family
- Accessory Dwelling Unit
- Home Occupation
Assessment data and recorded transactions.
Assessed value is kept visually separate from the CompCasa market-value estimate.
Tax assessment
Sale history
Rental references from the research record.
Context only—not an investment recommendation or guarantee of achievable rent.
Supporting lease references
- 300 SF smaller
- 1 fewer bedroom
- 0.5 fewer bathrooms
- 167 SF smaller
- 1 fewer bedroom
What the research supports — and what is still worth verifying.
Key findings
- Built in 2004 with 2,446 square feet of living space
- Assessed value of $359,700; market estimate around $616,900
- Located near top-rated schools and natural attractions
- Hillsborough market experiencing steady appreciation
- Limited inventory contributing to seller's market conditions
Still worth verifying
Routine buyer due diligence items; these are not known defects.
- Confirm lot dimensions and boundaries
- Verify any recent renovations or upgrades
- Confirm zoning restrictions and allowances
- Professional home inspection
- Roof condition assessment
What stands out about this property.
Interior Features
- 4 bedrooms, 2.5 bathrooms
- Hardwood floors in primary living areas
- Fireplace in family room
- Modern kitchen with updated finishes
- Two-story traditional layout
- Central heating and cooling
Exterior & Lot
- 0.92-acre level lot
- 2-car attached garage plus driveway parking
- Asphalt shingle roof
- Municipal water and sewer
- Standard residential driveway from Old Forest Dr
- R-1 zoning allows single-family and accessory dwelling
Location & Neighborhood
- Old Forest neighborhood
- 2.1 miles to New Hope Elementary (8/10)
- 1.6 miles to A L Stanback Middle (3/10)
- 3.6 miles to Cedar Ridge High (6/10)
- Approximately 3 miles to Downtown Hillsborough
- Part of the Durham–Chapel Hill MSA
Walkability & Recreation
- Walkability Rating: 35/100 — Car-Dependent
- Occoneechee Mountain State Natural Area (≈4 miles)
- Downtown Hillsborough amenities within a short drive
- Neighborhood streets conducive to walking and biking
- Community recreation and green spaces nearby
Sources & research confidence.
See where the property research came from and how confidence varies by field.