Homes/North Carolina/Cary/8704 Chapel Hill Rd
CompCasa Property Analysis · single_family

8704 Chapel Hill Rd

Renovated Ranch with ADU Potential Near Downtown Cary Park

Single-story 2BR/2BA on a generous 0.29-acre lot in Town Center

2 beds2 baths984 sq ftBuilt 19520.29 acresdetached
CompCasa valuation analysis
Estimated market value
$420,000
Low $390,000 · Midpoint $420,000 · High $450,000
Confidence82%Sales comparison approach
Last recorded sale$275,000Nov 15, 2023
Assessed value$421,4872025 assessment
CompCasa estimate$420,000Mar 7, 2026
Estimate vs. last recorded sale+$145,000 / +52.7%
$390,000$420,000 midpoint$450,000
Price / sq ft$427
Median sale price$505,000
Avg days on market35 days
Inventory2.5 months

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.

About the property

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.

Comparable evidence

See the properties helping shape the valuation.

Comparable sales

01Sold price$320,000
Property address319 N West St, Cary, NC 27513
3 bed1 bath1,150 sq ft0.2 mi$278/SF
Sold Jul 17, 2025
Subject difference
  • 166 SF larger
  • 1 additional bedroom
  • 1 fewer bathroom
Research comparison noteSimilar size and location; 3 bedrooms, 1 bathroom
02Sold price$300,000
Property address517 Wood St, Cary, NC 27513
2 bed1 bath728 sq ft0.25 mi$412/SF
Sold May 9, 2025
Subject difference
  • 256 SF smaller
  • 1 fewer bathroom
Research comparison noteSmaller size; 2 bedrooms, 1 bathroom
03Sold price$276,000
Property address309 Maple St, Cary, NC 27513
1 bath891 sq ft0.47 mi$310/SF
Sold Jul 30, 2025
Subject difference
  • 93 SF smaller
  • 1 fewer bathroom
Research comparison noteComparable size; 1 bathroom
Comp methodology: Focused on single-story homes within 0.5 miles in Cary's Town Center district sold or leased in the last 12 months for maximum relevance.
Property details

A 1952 ranch on 0.29 acres.

Building

Year built1952
ConstructionBrick
RoofGable
Heatingforced air
Coolingcentral AC

Site & utilities

Lot size0.29 acres
Garagedetached
Stories1
ConditionGood
BasementNone
FireplaceNo
Improvement notes2 bedrooms, 2 bathrooms, modern renovations throughout, detached garage
Lot area12,632 sq ft
TopographyLevel
FrontageFrontage on Chapel Hill Rd
ParkingDetached Garage
Parking spaces2
Parking notesDetached freestanding garage
AccessStandard residential driveway from Chapel Hill Rd
WaterMunicipal
SewerMunicipal
ElectricDuke Energy
GasPiedmont Natural Gas
Location & nearby

Town Center

Researched nearby locations

Downtown Cary Park (0.5 mi)
Cary Towne Center (1.2 mi)
WakeMed Cary Hospital (2.5 mi)

Location

8704 Chapel Hill Rd, Cary, NC 27513

View in Google Maps
Editorial neighborhood context

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.

Nearby access summary

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.

ElementaryNorthwoods Elementary (5/10)
Middle schoolWest Cary Middle (10/10)
High schoolCary High (7/10)
School districtWake County Public School System
Market context

A factual market snapshot around 8704 Chapel Hill Rd.

Median sale price$505,000
Avg days on market35 days
Inventory2.5 months
1-year appreciation6.0%
5-year appreciation25.0%
Editorial market perspective

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.

Zoning & land use

Town Center - Cottage Business & Residential

Zoning

Zoning codeTC-CB&R
DescriptionTown Center - Cottage Business & Residential
JurisdictionTown of Cary
Assessor useSingle Family Residential
Current useResidential
SetbacksSubject to Town of Cary regulations

Research-indicated uses

  • Residential
  • Business
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$390,000
Assessed improvements$31,487
Total assessed$421,487
Assessment year2025
Annual property tax$3,633
Tax year2025

Sale history

2023-11-15$275,000 · $279/SF
1992-12-16$24,500 · $25/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$1,900/mo
Property address920 Pecan Ave, Cary, NC 27513
2 bed2 bath984 sq ft$1.93/SF
Leased Aug 1, 2025
Subject difference
  • Same living area
Research comparison noteSimilar size and layout; renovated interior
02Monthly rent$1,750/mo
Property address508 Chesterfield Ave, Cary, NC 27513
2 bed1 bath984 sq ft$1.78/SF
Leased Jul 15, 2025
Subject difference
  • Same living area
  • 1 fewer bathroom
Research comparison noteSimilar size; 1 bathroom
Research findings & due diligence

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
Highlights & features

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
Research transparency

Sources & research confidence.

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

View sources & confidence
1
Zillow property listing for 8704 Chapel Hill Rd, Cary, NC 27513View source
2
Redfin property listing for 8704 Chapel Hill Rd, Cary, NC 27513View source
3
Raleigh Realty listing for 8704 Chapel Hill Rd, Cary, NC 27513View source
4
Trulia property listing for 8704 Chapel Hill Rd, Cary, NC 27513View source
5
WRAL TechWire article on recent sale of 8704 Chapel Hill Rd, Cary, NC 27513View 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.