Welcome to 314 Cedarwood Lane, ideally located in sought-after Carrboro, just minutes from downtown Chapel Hill and UNC. This versatile home offers a flexible layout to meet your needs. Upstairs, you'll find two spacious bedrooms and a full bath, while the main level features an open and inviting living and dining area, a well-appointed kitchen, convenient guest half bath, and access to a private deck--perfect for relaxing or entertaining. The sellers have only used the fireplace once during their ownership. The walkout lower level with a private entrance adds incredible value with a full bathroom, kitchenette, and flexible living space ideal for a guest suite, home office, bonus room, gym, or rental potential. Investors and owner-occupants alike will appreciate the adaptability of this floor plan. Enjoy all that Carrboro has to offer with easy access to downtown Carrboro, Chapel Hill, UNC, local parks, greenways, restaurants, coffee shops, and shopping. Ample guest parking is conveniently located nearby, adding to the ease and functionality of this home. A fantastic opportunity in one of the Triangle's most desirable locations! There are currently no rental restrictions including short term rentals. *AI was used to remove AC unit from the studio apartment.