Sales comparison approach using recent sales within 0.5 miles. Adjusted for renovations and lot size. Assessed value of $421,487 aligns with market estimates.
Renovated Ranch with ADU Potential Near Downtown Cary Park
What sets 8704 Chapel Hill Rd apart is its rare combination of a fully renovated single-story interior and a deep, level lot in Cary’s Town Center corridor. Set on just under a third of an acre with direct frontage on Chapel Hill Road, this 1952 brick ranch has been modernized while retaining the straightforward, livable footprint buyers prize: two bedrooms, two bathrooms and 984 square feet of carefully updated space. The detached freestanding garage—currently providing two parking spaces and storage—presents a compelling opportunity for conversion to an accessory dwelling unit (ADU), subject to Town of Cary approvals.
Inside, the renovations are apparent and practical: the home has been refreshed to meet contemporary expectations for finish and comfort. Central AC and forced-air heating deliver year-round climate control; the gable roof and brick construction signal solid bones. While compact, the floorplan is thoughtfully arranged for relaxed living and easy entertaining. Recent sales activity in the immediate area reflects strong buyer interest in homes of this scale that have been upgraded.
Outside, the 0.29-acre lot provides a rare degree of outdoor flexibility in Town Center—room for a vegetable garden, a play lawn, or a private patio. The property’s level topography simplifies access and any future site work. With Downtown Cary Park only about half a mile away and Cary Towne Center roughly 1.2 miles, owners enjoy quick access to parks, dining, retail, and community events without sacrificing a private yard.
From an investment and lifestyle standpoint, this house is positioned well: recent renovations reduce near-term maintenance, the Town Center zoning (TC-CB&R) offers a mix of residential and business uses, and the detached garage gives a tangible value-add path through ADU conversion. Buyers should verify permits and scope of renovations and complete standard inspections, but for someone seeking an upgraded, single-level home minutes from downtown Cary amenities, 8704 Chapel Hill Rd is a thoughtfully modernized, move-in-ready option with upside.
See the properties helping shape the valuation.
Comparable sales
- 166 SF larger
- 1 additional bedroom
- 1 fewer bathroom
- 256 SF smaller
- 1 fewer bathroom
- 93 SF smaller
- 1 fewer bathroom
A 1952 ranch on 0.29 acres.
Building
Site & utilities
Town Center
Researched nearby locations
Location
8704 Chapel Hill Rd, Cary, NC 27513
Cary’s Town Center blends small-town charm with new investment: walkable streets, parks, and a mix of shops and eateries create an active neighborhood atmosphere. Residents benefit from frequent community events at Downtown Cary Park, convenient access to retail at Cary Towne Center, and strong schools for families. The corridor has seen steady revitalization, attracting buyers who want the conveniences of town living plus private yards and quieter side streets.
Excellent access to Downtown Cary Park (0.5 mi), nearby green spaces and community recreation, plus regional trails and biking routes a short drive away for weekend outings.
A factual market snapshot around 8704 Chapel Hill Rd.
Cary’s Town Center market is operating in a clear seller’s-market dynamic: inventory hovers near 2.5 months, homes average roughly 35 days on market, and one-year appreciation sits around 6% with five-year growth near 25%. The area’s median sale price is approximately $505,000, but smaller, renovated ranches—especially within walking distance of Downtown Cary Park—trade aggressively and can outperform broader neighborhood medians. Recent comparable sales within a half-mile show a range from about $276K to $320K for single-story homes, reflecting differences in size and scope of renovation; the subject property’s renovation and larger lot support a market value toward the $390K–$450K band (valuation midpoint ~$420K).
For buyers focused on single-family homes, competition remains high: multiple-offer scenarios are common when well-updated homes hit the market. For investors or owner-occupants, the property’s ADU potential and strong rental comparables in the Town Center district (estimated rent ~$1,835/month) make this an attractive acquisition right now. Sellers should expect steady interest and should verify recent upgrades and permits to maximize price; buyers should move decisively but preserve contingencies for inspection and zoning confirmation.
Town Center - Cottage Business & Residential
Zoning
Research-indicated uses
- Residential
- Business
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
- Same living area
- Same living area
- 1 fewer bathroom
What the research supports — and what is still worth verifying.
Key findings
- Assessed value in 2025: $421,487 (land $390K, improvements $31,487)
- Property sold in November 2023 for $275,000 ($279/SF)
- Zoned TC-CB&R, allowing residential and business uses
- Recent renovations modernized the interior and exterior
- Detached garage offers potential for conversion to ADU, subject to approval
Still worth verifying
Routine buyer due diligence items; these are not known defects.
- Confirm lot dimensions and boundaries
- Verify renovation permits were properly obtained
- Confirm zoning regulations and permitted uses
- Professional home inspection
- Roof condition assessment
What stands out about this property.
Interior Features
- Single-story ranch layout
- 2 bedrooms, 2 bathrooms
- 984 square feet of living space
- Central air conditioning
- Forced-air heating
- Modern renovations throughout (ask for scope and permits)
- No basement — slab construction
Exterior & Lot
- 0.29-acre level lot (12,632 SF)
- Frontage on Chapel Hill Road
- Detached freestanding 2-car garage
- Gable roof and brick exterior
- Room for garden, patio, or ADU conversion (subject to Town approvals)
- Standard residential driveway
Location & Neighborhood
- Town Center district — proximity to downtown Cary amenities
- Downtown Cary Park ~0.5 mile
- Cary Towne Center ~1.2 miles
- WakeMed Cary Hospital ~2.5 miles
- Zoned TC-CB&R (Town Center - Cottage Business & Residential)
- Adjacent residential and commercial uses
Walkability & Recreation
- Walkability Rating: 78/100 — Some errands on foot
- Downtown Cary Park (0.5 mi) and neighborhood green spaces
- Shopping, dining, and events within walking or short driving distance
- Hiking and biking trails and regional greenways a short drive away
- Community recreation facilities and seasonal programming nearby
Sources & research confidence.
See where the property research came from and how confidence varies by field.