Property listing for 2201 Old Forest Dr, Hillsborough, NC 27278
For SaleSingle Family Home

$616,900

2201 Old Forest Dr, Hillsborough, NC 27278

Nearly One-Acre Lot with Spacious 4BR Home in Old Forest

4 Bed · 2.5 Bath · 2,446 Sq Ft

Large level lot, hardwood floors, modern kitchen, near top schools

4

Beds

2.5

Baths

2,446

Sq Ft

2004

Built

0.92 acres

Lot

2-car attached

Garage

About 2201 Old Forest Dr

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.

Home Highlights

Move-in ready conditionNearly 1-acre level lot (0.92 acres)Hardwood floors and fireplaceModernized kitchen2,446 sq ft; 4 BR / 2.5 BA2-car attached garageLocated in Old Forest neighborhoodClose to top-rated elementary school

Property Features

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

Neighborhood & Location

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.

Market Insights

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.

Nearby Schools

New Hope Elementary

Elementary · 2.1 mi

8/10

A L Stanback Middle

Middle · 1.6 mi

3/10

Cedar Ridge High

High · 3.6 mi

6/10

Walkability & Recreation

35
Walkability
70
Recreation

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.

Investment Highlights

  • Spacious 4-bedroom home with modern amenities
  • Large 0.92-acre lot in desirable neighborhood
  • Proximity to top-rated schools and amenities
  • Potential for appreciation due to below-market assessed value
  • Steady market appreciation in Hillsborough area

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

Things to Consider

  • Middle school rating of 3/10 may be a consideration for families
  • Assessed value significantly below market estimate
  • Potential for increased property taxes with reassessment

Opportunity Analysis

Well-maintained 4-bedroom home in a desirable neighborhood with potential for appreciation due to below-market assessed value. Proximity to top-rated schools and amenities enhances appeal.

Potential Use Scenarios

  • Consider as a primary residence for families seeking top-rated schools
  • Potential for appreciation with market trends and below-market assessment
  • Monitor property tax reassessment to anticipate future expenses

Risk Factors

  • Middle school rating may impact family decisions
  • Potential for increased property taxes with reassessment

Buyers should conduct independent due diligence before making any purchase decisions.

AI Valuation Estimate

Low

$580K

Midpoint

$617K

High

$654K

$252/SF estimated price per square foot

85% confidence

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.

As of 2026-03-08

This is a computer-generated estimate for informational purposes only and is not an appraisal or professional valuation.

Market & Area Data

Market Trends

Area Median Price$500,000
Avg Days on Market30 days
Inventory2.5 months
1-Year Appreciation+5.0%

Demographics

Population (1 mi)5,000
Median Income (1 mi)$75,000

Hillsborough has experienced steady population growth and rising property values over the past decade.

Nearby Points of Interest

  • New Hope Elementary School (2.1 mi)
  • A L Stanback Middle School (1.6 mi)
  • Cedar Ridge High School (3.6 mi)
  • Downtown Hillsborough (3 mi)
  • Occoneechee Mountain State Natural Area (4 mi)

Proximity to top-rated schools, downtown Hillsborough's amenities, and natural attractions like Occoneechee Mountain State Natural Area.

School District

DistrictOrange County Schools
ElementaryNew Hope Elementary (8/10)
MiddleA L Stanback Middle (3/10)
HighCedar Ridge High (6/10)

Market data is based on aggregated public records and may not reflect real-time conditions.

Property Details

Building Details

Year Built2004
Constructionwood frame
Stories2
Roofasphalt shingle
Heatingcentral
Coolingcentral
Basementnone
FireplaceYes
Conditiongood

Lot & Site

Lot Size0.92 acres (40,075 SF)
Topographylevel
Parkingattached_garage_and_driveway
Parking Spaces2
FrontageStandard residential frontage on Old Forest Dr

Utilities

Watermunicipal
Sewermunicipal
ElectricDuke Energy
GasPiedmont Natural Gas

Zoning & Land Use

Zoning CodeR-1
DescriptionSingle-Family Residential
JurisdictionTown of Hillsborough

Allowed Uses

single familyaccessory dwelling unithome occupation
Current Useresidential
Assessor UseSingle-Family Residential

Tax & Sale History

Tax Assessment

Total Assessed$359,700
Land$48,900
Improvements$310,800
Annual Tax (2024)$3,673

Sale History

2004-08-12$302,500

$124/SF

New construction purchase

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