Property listing for 8704 Chapel Hill Rd, Cary, NC 27513
For SaleSingle Family Home

$420,000

8704 Chapel Hill Rd, Cary, NC 27513

Renovated Ranch with ADU Potential Near Downtown Cary Park

2 Bed · 2 Bath · 984 Sq Ft

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

2

Beds

2

Baths

984

Sq Ft

1952

Built

0.29 acres

Lot

Detached 2-car

Garage

About 8704 Chapel Hill Rd

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.

Home Highlights

Move-in readyRecently renovated interior and exteriorADU potential — detached garage conversion opportunity0.29-acre level lot with Chapel Hill Rd frontageCentral AC and forced-air heatingLocated in Cary Town Center, near Downtown Cary Park

Property Features

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

Neighborhood & Location

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.

Market Insights

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.

Nearby Schools

Northwoods Elementary

Elementary

5/10

West Cary Middle

Middle

10/10

Cary High

High

7/10

Walkability & Recreation

78
Walkability
80
Recreation

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.

Investment Highlights

  • Modern renovations enhance appeal and reduce near-term maintenance costs
  • Located in Cary's revitalized Town Center district with growing amenities
  • Potential for ADU, subject to Town of Cary approval, offering rental income opportunities
  • Proximity to Downtown Cary Park (0.5 mi) and Cary Towne Center (1.2 mi)
  • Strong middle and high school ratings (West Cary Middle 10/10, Cary High 7/10)

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

Things to Consider

  • Built in 1952 — potential for aging infrastructure requiring inspection
  • Zoning regulations may limit certain modifications; verification needed
  • Market appreciation may impact affordability for some buyers
  • Proximity to commercial areas may affect residential desirability for some

Opportunity Analysis

Renovated single-story home in Cary's evolving Town Center district with potential for ADU conversion. Strong market appreciation and proximity to amenities enhance investment appeal.

Potential Use Scenarios

  • Potential primary residence with modern amenities in a central location
  • Explore ADU conversion for rental income, subject to Town of Cary approval
  • Monitor market trends for continued appreciation potential

Risk Factors

  • 1952 construction — potential for aging systems requiring maintenance
  • Zoning regulations may impose restrictions on modifications
  • Market competition may lead to higher acquisition costs

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

AI Valuation Estimate

Low

$390K

Midpoint

$420K

High

$450K

$427/SF estimated price per square foot

82% confidence

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.

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

Area Median Price$505,000
Avg Days on Market35 days
Inventory2.5 months
1-Year Appreciation+6.0%

Demographics

Population (1 mi)15,000
Median Income (1 mi)$85,000

Cary's Town Center area has experienced significant growth and revitalization, attracting both residential and commercial developments.

Nearby Points of Interest

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

Proximity to downtown Cary amenities, shopping centers, and healthcare facilities.

School District

DistrictWake County Public School System
ElementaryNorthwoods Elementary (5/10)
MiddleWest Cary Middle (10/10)
HighCary High (7/10)

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

Property Details

Building Details

Year Built1952
Constructionbrick
Stories1
Roofgable
Heatingforced air
Coolingcentral AC
Basementnone
FireplaceNo
Conditiongood

Lot & Site

Lot Size0.29 acres (12,632 SF)
Topographylevel
Parkingdetached_garage
Parking Spaces2
FrontageFrontage on Chapel Hill Rd

Utilities

Watermunicipal
Sewermunicipal
ElectricDuke Energy
GasPiedmont Natural Gas

Zoning & Land Use

Zoning CodeTC-CB&R
DescriptionTown Center - Cottage Business & Residential
JurisdictionTown of Cary

Allowed Uses

residentialbusiness
Current Useresidential
Assessor UseSingle Family Residential

Tax & Sale History

Tax Assessment

Total Assessed$421,487
Land$390,000
Improvements$31,487
Annual Tax (2025)$3,633

Sale History

2023-11-15$275,000

$279/SF

Arm's length transaction

1992-12-16$24,500

$25/SF

Historical sale

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