Homes/North Carolina/Hillsborough/2201 Old Forest Dr
CompCasa Property Analysis · single_family

2201 Old Forest Dr

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

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

4 beds2.5 baths2,446 sq ftBuilt 20040.92 acres2-car attached
CompCasa valuation analysis
Estimated market value
$616,900
Low $580,000 · Midpoint $616,900 · High $654,000
Confidence85%Sales comparison approach
Last recorded sale$302,500Aug 12, 2004
Assessed value$359,7002024 assessment
CompCasa estimate$616,900Mar 8, 2026
Estimate vs. last recorded sale+$314,400 / +103.9%
$580,000$616,900 midpoint$654,000
Price / sq ft$252
Median sale price$500,000
Avg days on market30 days
Inventory2.5 months

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.

About the property

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.

Comparable evidence

See the properties helping shape the valuation.

Comparable sales

01Sold price$647,300
Property address2211 Old Forest Dr, Hillsborough, NC 27278
4 bed3 bath2,900 sq ftBuilt 20050.1 mi40,000 sq ft lot$223/SF
Sold Dec 15, 2025
Subject difference
  • 454 SF larger
  • 0.5 additional bathrooms
  • Similar lot size
  • 1 year newer
Research comparison noteSimilar size and age, slightly larger lot and additional bathroom.
02Sold price$546,500
Property address2129 Old Forest Dr, Hillsborough, NC 27278
4 bed2 bath2,100 sq ftBuilt 20030.2 mi40,000 sq ft lot$260/SF
Sold Nov 20, 2025
Subject difference
  • 346 SF smaller
  • 0.5 fewer bathrooms
  • Similar lot size
  • 1 year older
Research comparison noteSmaller square footage, similar lot size and age.
03Sold price$604,700
Property address2210 Old Forest Dr, Hillsborough, NC 27278
3 bed3 bath2,300 sq ftBuilt 20040.1 mi40,000 sq ft lot$263/SF
Sold Oct 10, 2025
Subject difference
  • 146 SF smaller
  • 1 fewer bedroom
  • 0.5 additional bathrooms
  • Similar lot size
  • Same year built
Research comparison noteSlightly smaller, one less bedroom, similar lot size and age.
Comp methodology: Focused on similar single-family homes within 0.5 miles sold in the last 6 months for sales comps; nearby 3-bedroom rentals for lease comps due to limited 4-bedroom rental data.
Property details

A 2004 traditional on 0.92 acres.

Building

Year built2004
ConstructionWood Frame
RoofAsphalt Shingle
Heatingcentral
Coolingcentral

Site & utilities

Lot size0.92 acres
Garage2-car attached
Stories2
ConditionGood
BasementNone
FireplaceYes
Improvement notes4 bedrooms, 2.5 bathrooms, hardwood floors, fireplace, modern kitchen
Lot area40,075 sq ft
TopographyLevel
FrontageStandard residential frontage on Old Forest Dr
ParkingAttached Garage And Driveway
Parking spaces2
Parking notes2-car attached garage plus driveway parking
AccessStandard residential driveway from Old Forest Dr
WaterMunicipal
SewerMunicipal
ElectricDuke Energy
GasPiedmont Natural Gas
Location & nearby

Old Forest

Researched nearby locations

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)

Location

2201 Old Forest Dr, Hillsborough, NC 27278

View in Google Maps
Editorial neighborhood context

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.

Nearby access summary

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.

ElementaryNew Hope Elementary (8/10)
Middle schoolA L Stanback Middle (3/10)
High schoolCedar Ridge High (6/10)
School districtOrange County Schools
Market context

A factual market snapshot around 2201 Old Forest Dr.

Median sale price$500,000
Avg days on market30 days
Inventory2.5 months
1-year appreciation5.0%
5-year appreciation25.0%
Editorial market perspective

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.

Zoning & land use

Single-Family Residential

Zoning

Zoning codeR-1
DescriptionSingle-Family Residential
JurisdictionTown of Hillsborough
Assessor useSingle-Family Residential
Current useResidential
SetbacksFront 30', side 10', rear 25'

Research-indicated uses

  • Single Family
  • Accessory Dwelling Unit
  • Home Occupation
Verify with the jurisdiction: Zoning, setbacks, and allowed-use summaries are research indicators—not legal advice or a determination that a specific use is permitted.
Tax & sale history

Assessment data and recorded transactions.

Assessed value is kept visually separate from the CompCasa market-value estimate.

Tax assessment

Assessed land$48,900
Assessed improvements$310,800
Total assessed$359,700
Assessment year2024
Annual property tax$3,673
Tax year2024

Sale history

2004-08-12$302,500 · $124/SF
Rental market context

Rental references from the research record.

Context only—not an investment recommendation or guarantee of achievable rent.

Supporting lease references

01Monthly rent$2,500/mo
Property address319 Davis Rd, Hillsborough, NC 27278
3 bed2 bath2,146 sq ft$1.17/SF
Leased Sep 1, 2025
Subject difference
  • 300 SF smaller
  • 1 fewer bedroom
  • 0.5 fewer bathrooms
Research comparison noteSmaller size, one less bedroom, similar location.
02Monthly rent$2,600/mo
Property address2311 Falls Dr, Chapel Hill, NC 27514
3 bed2.5 bath2,279 sq ft$1.14/SF
Leased Aug 15, 2025
Subject difference
  • 167 SF smaller
  • 1 fewer bedroom
Research comparison noteSlightly smaller, one less bedroom, nearby location.
Research findings & due diligence

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
Highlights & features

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
Research transparency

Sources & research confidence.

See where the property research came from and how confidence varies by field.

View sources & confidence
1
Redfin property details and tax historyView source
2
Zillow property details and ZestimateView source
3
Orange County Tax AdministrationView source
4
Orange County GIS and Land RecordsView source
5
Orange County Register of DeedsView source
Important: This analysis is AI-assisted and may contain inaccuracies. It is not a formal appraisal. Verify all critical facts with primary records, licensed professionals, and on-site inspection before making purchase decisions.