Welcome to Rabbit Run! Where lifestyle, location, and versatility meet. This one-of-a-kind property offers a rare combination of multi-generational living, income potential, and serene privacy, all just minutes from shopping, dining, top-rated schools, and Forest Ridge Park. Nestled on a peaceful, tree-lined cul-de-sac, this charming 3 bedroom 2 bath home features an updated chef's kitchen with high-end stainless steel appliances, including a GE Café refrigerator, Italian French-door range, pot filler, farm sink, live-edge butcher block counters, and a spacious pantry. The bright, inviting living room showcases lovely wainscoting and a cozy wood-burning fireplace. Potential for a primary bedroom on the main level, with generously sized bedrooms throughout and ample storage, including five attic spaces. Upgrades continue throughout the home, with both bathrooms beautifully remodeled using upscale finishes. A standout feature is the separate studio apartment above the garage, complete with a private entrance—ideal for in-laws, Airbnb, or long-term rental. There's also a detached cottage with a wraparound deck—perfect for remote work, creative space, or even a small business. Step into your private backyard retreat featuring a heated saltwater pool, outdoor bar, Trex deck, and ambient lighting—an entertainer's dream surrounded by forest views. The oversized two-car garage, RV/boat parking, clean wrapped crawlspace, and French drains add peace of mind and convenience. No HOA and no city taxes! This property offers flexibility, income opportunity, and a lifestyle you'll love. More than a home—Rabbit Run is a rare opportunity.
This gorgeous Cape Cod style home is surrounded by beautiful landscaping & the peaceful sounds of nature! As you step inside, you'll instantly feel at home with spacious rooms throughout, including a 1st floor bedroom! The living room has a large bay window where you can sit by a cozy fire while overlooking the garden. Just off of the Kitchen is an expansive rear deck for grilling & entertaining while surrounded by privacy trees. The detached two car garage has a finished bonus room above with a kitchenette & full bath! There's also a separate detached Office/Studio with a/c and a relaxing deck! Interior was just freshly painted, and it's move in ready! This home is very charming and tranquil yet blocks away from Wake Forest shopping & restaurants! No city taxes & No HOA!
TMLS #2021467
Feb 27, 2016
Contingent
—
Feb 27, 2016
Listing Removed
—
Feb 14, 2016
Price Changed
$268,400
$158/sq ft
Oct 8, 2015
Price Changed
$269,900
$159/sq ft
Sep 12, 2015
Relisted
—
Aug 31, 2015
Contingent
—
Jul 27, 2015
Listed
$275,000
$162/sq ft
TMLS #1777414
Aug 29, 2011
Sold
$210,000
$124/sq ft
Aug 29, 2011
Sold
$210,000
$124/sq ft
Jul 24, 2011
Listing Removed
—
Apr 1, 2011
Listed
$219,999
$129/sq ft
Apr 1, 2011
Listed
$219,999
$129/sq ft
TMLS #1645252
May 1, 2009
Sold
$200,000
$118/sq ft
May 1, 2009
Sold
$200,000
$118/sq ft
Mar 23, 2009
Listing Removed
—
Feb 1, 2009
Listed
$209,900
$123/sq ft
Feb 1, 2009
Listed
$209,900
$123/sq ft
TMLS #1603635
Dec 6, 2008
Listing Removed
—
Jun 6, 2008
Listed
$209,900
$123/sq ft
Public Records
Apr 16, 1993
Sold
$93,000
$55/sq ft
Public Records
Nov 6, 1985
Sold
$93,000
$55/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$3,088 (+3.0%)
$105,000 + $453,457
$558,457
2024
$2,998 (+32.6%)
$105,000 + $374,619
$479,619
2023
$2,261 (+7.9%)
$105,000 + $374,619
$479,619
2022
$2,096 (+2.7%)
$70,000 + $217,479
$287,479
2021
$2,040 (+1.7%)
$70,000 + $217,479
$287,479
2020
$2,006 (−9.9%)
$70,000 + $217,479
$287,479
2019
$2,228 (+8.7%)
$70,000 + $217,479
$287,479
2018
$2,049 (+5.5%)
$88,000 + $182,323
$270,323
2017
$1,942 (+2.1%)
$88,000 + $182,323
$270,323
2016
$1,902 (−6.5%)
$88,000 + $182,323
$270,323
2015
$2,034 (+5.5%)
$88,000 + $182,323
$270,323
2014
$1,928 (+24.9%)
$100,000 + $190,013
$290,013
2013
$1,543
$100,000 + $148,063
$248,063
2012
$1,543
$100,000 + $148,063
$248,063
2011
$1,543
$100,000 + $148,063
$248,063
Tax history for 7216 Rabbit Run
Year
Property tax
Land + Additions
Assessment*
2025
$3,088 (+3.0%)
$105,000 + $453,457
$558,457
2024
$2,998 (+32.6%)
$105,000 + $374,619
$479,619
2023
$2,261 (+7.9%)
$105,000 + $374,619
$479,619
2022
$2,096 (+2.7%)
$70,000 + $217,479
$287,479
2021
$2,040 (+1.7%)
$70,000 + $217,479
$287,479
2020
$2,006 (−9.9%)
$70,000 + $217,479
$287,479
2019
$2,228 (+8.7%)
$70,000 + $217,479
$287,479
2018
$2,049 (+5.5%)
$88,000 + $182,323
$270,323
2017
$1,942 (+2.1%)
$88,000 + $182,323
$270,323
2016
$1,902 (−6.5%)
$88,000 + $182,323
$270,323
2015
$2,034 (+5.5%)
$88,000 + $182,323
$270,323
2014
$1,928 (+24.9%)
$100,000 + $190,013
$290,013
2013
$1,543
$100,000 + $148,063
$248,063
2012
$1,543
$100,000 + $148,063
$248,063
2011
$1,543
$100,000 + $148,063
$248,063
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Public record
Zoning
Beds
—
Baths
2
Stories
1.75
Lot width
—
Lot depth
—
Lot size
0.91 Acres
Year renovated
1995
Sq. Ft.
1,632
Year built
1985
Style
Single Family Residential
County
Wake County
APN
1831.03 21 8197 000
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Aug 11, 2026.
R-40W
Residential-40 Watershed District
The R-40W zoning districts are known as residential watershed districts. These districts allow very-low-density residential development in the form of single-family detached dwellings and duplexes. A limited number of nonresidential uses are also allowed, but generally only if the Board of Adjustment first reviews and approves a site plan and Special Use Permit for such use.