Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

9 Spruce Knob Court Durham, NC 27705

3 Beds 2 Baths 1,387 sqft Built 1988

$269,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

$77,035

Investment Est.

AVAILABLE

REQUEST INFO

SCHEDULE APPOINTMENT

It's free, with no obligation

AVAILABLE

1 Year
(+2.6%)
1 YR. PROJ. APPRECIATION


Cap Rate	3.2%
Cash Flow	-$492
Value Increase	$7,116

10 YEAR

Cash On Cash	-2.1%
Total Return	7.4%

PROPERTY INFO

January 30, 2021 RECENTLY ADDED

FACTS

Single Family
Built In 1988
Price/Sqft : $193.94
3 Days on Market
MLS # : 2364112
Updated Date : 01/31/2021 at 00:36

CONSTRUCTION

Beds : 3
Floor Size : 1,387 sqft
Baths : 2 full

Listing Agent

Shiper Realty, Llc

Listing Agent's Description

Beautifully updated home in quiet cul-de-sac minutes from Duke University and University of North Carolina. Perfect location can't be beat. Minutes to Costco, Whole Foods, shopping and highway access. Luxury finishes include shaker cabinets, granite counters, SS appliances and LVP flooring! Stylish master bath with walk-in tile shower. Take advantage of minimal yard maintenance and relax on the jumbo size rear deck.

2058 N Pointe Dr

Durham, North Carolina

View on Google Maps

Custom Imagery

-

-

This image is no longer available

Rotate the view

Map Data© 2021 Google
Terms of Use
Report a problem
© 2021 Google
Map Data
© 2021 Google

Street View

1 of 20 X

MARKET HIGHLIGHTS

Raleigh Market Report

#7 Best Big City for Jobs 2018 (Forbes, 2018)
Raleigh-Durham combined metros contribute to 24.1% of North Carolina's state economy i.e. Gross State Product (USMayors.org, 2018)

University of North Carolina, Duke University and Davidson University systems drive rental demand
Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International

One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
Raleigh-Durham combined metros' economy is worth over $137 billion in Gross Metro Product and projected to grow to $146 billion in 2019 (USMayors.org, 2018)

Raleigh-Durham combined metros has 65.3% labor force participation rate higher than the national rate of 62.8% (USMayors.org, 2018)

Neighborhood: Duke Homestead

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Duke Homestead

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME	EDUCATIONAL LEVEL	SCHOOL TYPE	# OF STUDENTS	# OF TEACHERS	GREATSCHOOLS RATING
Holt Elementary Magnet School	Primary	Regular	627	49	5
Carrington Middle School	Middle	Regular	1,094	72	4
Riverside High School	High	Regular	1,811	106	4

Holt Elementary Magnet School

Education Level: Primary
# of students: 627
# of teachers: 49

GreatSchools Rating

Carrington Middle School

Education Level: Middle
# of students: 1,094
# of teachers: 72

GreatSchools Rating

Riverside High School

Education Level: High
# of students: 1,811
# of teachers: 106

GreatSchools Rating

FINANCIALS

Learn how to read this

$242,100$295,90000$269,000

PURCHASE PRICE

$1,188$1,45200$1,320

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

Toggle to see the acquisition concierge fee. LEARN MORE

PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$1,320
EXPENSES	Loan Payment	-$934
	Property Tax	-$254
	Property Insurance	-$54
	Property Management Fees	-$119




CASH FLOW -$41

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$269,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	4.11%
Appreciation Year (1-5)	2.6%
Maintenance Year (1-5)	8.00%
Vacancy	8.54%
Length of Stay Years	2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$77,035

Down Payment	$67,250
Rehab Estimate	$5,750
Closing Costs	$4,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$934

MONTHLY LOAN PAYMENT

30 yr

3.75%

25.00%

Down Payment

Term	30 Years
Interest	3.75%
Down Payment	$67,250
Loan Amount	$201,750

See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$12,913

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

$1,320
LIST RENT
$0.95
LIST RENT PER SQFT

$1,373
COMP ESTIMATED VALUE
$0.99
COMP AVG. RENT PER SQFT

Comps Range

$1,320

1$1,3202$1,5503$1,5954$1,600

$1,600

RENT COMPS ANALYSIS

1,387
PROPERTY SQFT
$0.99
AVG RENT PER SQFT
$1,373
ESTIMATED VALUE
$1,320
LIST RENT

9 Spruce Knob Court Durham, NC 4

3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1988
Price

Price Per SQFT

$269,000

$193.94
1531 Glasgow Street Durham, NC 1

3 beds 3 baths ∙ 1,452 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,452 Sqft ∙ Built 1987
SOLD 09/04/20
Price

Price Per SQFT

$212,000

$146.01
3508 Guess Road Durham, NC 2

3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1978
SOLD 12/23/20
Price

Price Per SQFT

$225,000

$158.45
2616 Duke Homestead Road Durham, NC 3

3 beds 2 baths ∙ 1,245 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,245 Sqft ∙ Built 1999
SOLD 09/21/20
Price

Price Per SQFT

$230,500

$185.14
2623 Kirk Road Durham, NC 5

3 beds 3 baths ∙ 1,352 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 1991
SOLD 09/25/20
Price

Price Per SQFT

$287,500

$212.65

9 Spruce Knob Court Durham, NC 1

3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1988
Rent

Rent Per SQFT

$1,320

$0.95
3006 Omah Street Durham, NC 2

4 beds 2 baths ∙ 1,626 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,626 Sqft ∙ Built 1976
LEASED 04/15/20
Rent

Rent Per SQFT

$1,550

$0.95
1705 Glasgow Street Durham, NC 3

3 beds 2 baths ∙ 1,523 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,523 Sqft ∙ Built 1984
LEASED 12/02/19
Rent

Rent Per SQFT

$1,595

$1.05
3025 Alabama Avenue Durham, NC 4

3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1974
LEASED 07/16/20
Rent

Rent Per SQFT

$1,600

$0.97

PROPERTY LISTING DETAILS

Igor Shiper
1.919.274.3200
Shiper Realty, Llc

Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317

Triangle Multiple Listing Service ( TMLS)
MLS #: 2364112
Last Updated: 01/31/2021

9 Spruce Knob Court Durham, NC 27705

$269,000

$1,320

$77,035

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Holt Elementary Magnet School

Carrington Middle School

Riverside High School

FINANCIALS

$242,100$295,90000$269,000

$1,188$1,45200$1,320

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$269,000

$1,320

0.49%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$934

4.67

$12,913

$269,000

$193.94

$243,505

$175.56

COMPS RANGE

PRICE COMPS ANALYSIS

$1,320

$0.95

$1,373

$0.99

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS