Unique 1.1-acre opportunity in revitalized downtown Franklinton with dual street access from N Cheatham and Pine Street. The town has indicated that two homes could be built on the back portion of the lot, depending on size and design, making this a prime investment or redevelopment site. The existing home offers flexible use with two bedrooms, one full bath, a vintage kitchen, and 20x27 bonus room that adds substantial square footage and could serve as a large living space, home office, or entertainment room. Plus, a private mother-in-law suite with its own entrance, driveway, kitchen, bath, laundry, and dedicated mini-split system. The lot includes a detached garage, three outbuildings, and multiple mature trees, raised garden bed, and lush landscaping in bloom--just blocks from Franklinton's thriving downtown scene. Easy access to US-1, NC-56, and commuter routes to Raleigh, Wake Forest, and RTP. Live, rent, build, or hold--this property delivers options.