$475,000
729 Grace Hodge Dr, Cary, NC 27519
Updated 3-Bed, 2.5-Bath Townhome with Screened Porch & Garage
3 Bed · 2.5 Bath · 1,745 Sq Ft
Turnkey Olde Carpenter townhome—recent systems upgrades and community amenities
3
Beds
2.5
Baths
1,745
Sq Ft
2009
Built
0.06 acres
Lot
2-car attached
Garage
About 729 Grace Hodge Dr
A screened-in back porch sets the tone for life at 729 Grace Hodge Drive—an intelligently updated townhome in Cary’s desirable Olde Carpenter community. Step inside to first-floor hardwoods that lead past a gas fireplace and into a bright, renovated kitchen finished with granite counters and stainless-steel appliances. The layout balances everyday living and weekend entertaining: a welcoming living room, formal dining or flexible office space, and storage-friendly flow to the attached two-car garage.
Recent capital improvements reduce near-term maintenance concerns: a new roof (2021), updated HVAC (2022), and a 2023 water heater, plus fresh interior paint in 2024. Upstairs you’ll find three well-proportioned bedrooms and 2.5 baths—the primary suite offers privacy and comfort while secondary bedrooms share thoughtfully maintained baths. Built in 2009, the home totals 1,745 square feet and was cared for by long-term owners who prioritized practical updates.
Outside, the small, level lot is low-maintenance and complemented by community amenities—Olde Carpenter residents enjoy a pool, tennis courts, playgrounds and walking trails. The neighborhood location is especially convenient: Carpenter Park is a short walk away and West Regional Library is nearby, with shopping at The Streets at Southpoint and major employers in Research Triangle Park within easy driving range.
This property presents a strong value in a lively Cary market: recent, nearby townhome sales between $425K and $490K reinforce the area’s demand. Whether you’re seeking a primary residence with top-rated schools close by or a rental-ready asset with solid yields, 729 Grace Hodge Drive offers move-in readiness, modern systems, and community amenities that appeal to families and professionals alike.
Home Highlights
Property Features
Interior Features
- Hardwood floors on first floor
- Updated kitchen with granite countertops
- Stainless-steel appliances
- Gas fireplace
- 3 bedrooms, 2.5 bathrooms
- Fresh interior paint (2024)
Exterior & Lot
- Screened-in back porch
- 2-car attached garage with driveway
- Level 0.06-acre lot (approx. 2,614 SF)
- Shingle roof (replaced 2021)
Location & Neighborhood
- Olde Carpenter neighborhood
- Carpenter Park (0.3 mi)
- West Regional Library (0.5 mi)
- Short drive to Research Triangle Park (7 mi) and RDU (8 mi)
- Community pool, tennis courts, playgrounds, and walking trails
Walkability & Recreation
- Walkability Rating: 65/100 — Somewhat Walkable
- Nearby parks and green spaces (Carpenter Park 0.3 mi)
- Community walking trails and playgrounds
- The Streets at Southpoint (5 mi) for shopping and dining
- Easy access to RTP and regional bike routes
Neighborhood & Location
Olde Carpenter is a family-friendly enclave in Cary known for its active community amenities—pool, tennis courts, playgrounds and neighborhood walking trails. The area combines suburban calm with convenient access to Carpenter Park and West Regional Library. Commuters appreciate proximity to Research Triangle Park and RDU, while families benefit from Wake County’s strong school options. Local shopping and dining at Southpoint are an easy drive away, making Olde Carpenter a balanced blend of convenience and community.
Market Insights
The Olde Carpenter pocket of Cary is currently favoring sellers. Inventory in the broader Cary area sits near 2.5 months and average days on market hovers around 30—conditions that typically produce multiple-offer scenarios for well-priced, well-presented homes. One-year appreciation in the region shows roughly 9% growth, and five-year gains near 15% reflect sustained demand. Recent townhome sales on Grace Hodge Drive ranged from $425K to $490K in the past 12 months, supporting a fair market band around $450K–$500K for comparable units.
Townhomes in this submarket move efficiently because they attract both local families—drawn by Wake County’s highly rated schools—and professionals commuting to RTP and downtown Raleigh. Rental demand is healthy as well; modeled rents for similar 3BR units are around $2,000/month, producing a modest gross yield near 5%. For sellers, the market presents a strong opportunity to capture appreciation; for buyers, expect competition but also durable long-term value given low inventory and strong neighborhood amenities. Due diligence on HOA rules and verifying recent system condition remains important given the community structure.
Nearby Schools
Green Hope High
High · Nearby
Alston Ridge Middle
Middle · Nearby
Carpenter Elementary
Elementary · Nearby
Walkability & Recreation
Excellent neighborhood recreation with Carpenter Park 0.3 miles away, community pool and tennis courts inside Olde Carpenter, nearby walking trails, and easy access to larger recreational hubs and shopping within a short drive.
Investment Highlights
- Recently updated kitchen and major systems reduce near-term maintenance costs
- Located in a highly desirable Cary neighborhood with strong appreciation trends
- Access to community amenities including pool, tennis courts, and walking trails
- Proximity to major employment hubs and transportation corridors
- Highly rated schools within close proximity enhance family appeal
Key Findings
- County assessor shows 2018 purchase at $295,000 ($169/SF) — current estimate $475,000 ($272/SF)
- Assessed value $434,664 (land $110K, improvements $324,664) — annual taxes $3,665
- Zoned R-12 allowing single-family and townhouse uses
- 3 comparable sales within 0.1 miles in last 12 months range $425K–$490K
- Average days on market in Cary: 30 days (seller's market)
Things to Consider
- Built in 2009 — verify condition of major systems and appliances
- HOA regulations and fees should be reviewed for any restrictions or upcoming assessments
- Limited lot size may restrict outdoor space usage
Opportunity Analysis
Well-maintained townhome in a prime Cary location with recent updates and access to community amenities. Strong appreciation trends and proximity to major employment hubs suggest solid investment potential.
Potential Use Scenarios
- Potential primary residence in a desirable neighborhood
- Strong rental demand from professionals and families
- Monitor HOA regulations and fees for any changes
Risk Factors
- Verify condition of major systems and appliances
- Review HOA regulations and fees for any restrictions or upcoming assessments
- Limited lot size may restrict outdoor space usage
Buyers should conduct independent due diligence before making any purchase decisions.
AI Valuation Estimate
Low
$450K
Midpoint
$475K
High
$500K
$272/SF estimated price per square foot
Sales comparison approach using 3 comparable sales within 0.1 miles sold in last 12 months. Adjusted for size, condition, and recent upgrades. Assessed value of $434,664 appears below market.
As of 2026-03-07
This is a computer-generated estimate for informational purposes only and is not an appraisal or professional valuation.
Market & Area Data
Market Trends
Demographics
Cary median home values increased 15% from 2020-2025. Strong demand from professionals and families. Walkability Rating estimate: 65/100.
Nearby Points of Interest
- Carpenter Park (0.3 mi)
- West Regional Library (0.5 mi)
- The Streets at Southpoint (5 mi)
- Research Triangle Park (7 mi)
- Raleigh-Durham International Airport (8 mi)
Close proximity to parks, library, shopping centers, and major employment hubs. Easy access to major highways and public transportation.
School District
Market data is based on aggregated public records and may not reflect real-time conditions.
Property Details
Building Details
Lot & Site
Utilities
Zoning & Land Use
Allowed Uses
Tax & Sale History
Tax Assessment
Sale History
$169/SF
Arm's length transaction
$114/SF
New construction sale
Find a Local Agent
Looking to buy or sell? Connect with a licensed local agent who knows this area.
Request a ShowingYour inquiry will be connected with a licensed local real estate professional through our brokerage partner.
Are You a Local Agent?
No agency is currently featured for this market. Join the CompCasa Local Partner Program to get your brokerage placed on property pages like this one.
Learn About the Partner ProgramCompCasa is a marketing and technology platform. All brokerage services are provided by licensed partners.