Valley Heights presents a rare opportunity to acquire 8 completed, new-construction residences in a single transaction at a portfolio basis below individual appraised value. Each residence has been independently appraised at $612,000, representing an aggregate appraised value of approximately $4.896 million across the eight-unit portfolio. Each approximately 2,313-square-foot residence features 4-bedrooms and 4.5 bathrooms, including the particularly versatile feature of full-bath access for every bedroom. Delivered vacant and completed in 2026,the offering gives an incoming investor significant flexibility from day one. Potential strategies include traditional long-term rentals, furnished mid-term or short-term accommodations where permitted, corporate housing, individual retail resale, or a hybrid strategy that monetizes units over time while retaining others for income. The homes were constructed and finished for the retail residential market rather than as conventional rental product, with Pella windows, Bosch stainless steel appliances, solid-wood soft-close cabinetry, oversized waterfall quartz islands, tiled walk-in showers, durable LVP flooring, and upper- and lower-level laundry areas. Located along Chapel Hill Road in Southwest Durham, Valley Heights provides convenient connectivity to Downtown Durham, Duke University, Chapel Hill, Research Triangle Park and the broader Triangle employment base.
University Terrace, located between Duke University’s West Campus and the Forest Hills area, is a residential and academic-adjacent Durham neighborhood with mid-century ranch homes and leafy, sidewalk-lined streets. The neighborhood’s character concentrates around the 9th Street corridor near Broad Street, where indie coffee counters, bookstores, and casual eateries keep the sidewalks active. Community pillars nearby include Regulator Bookshop, the Carolina Theatre, and the Nasher Museum of Art. Brick cottages and low-slung homes sit under mature trees, giving blocks a calm, established feel. Green space and trails at Duke Forest shape daily routines with shaded walks and bike rides. Downtown Durham’s galleries and restaurants sit a short drive away, balancing quiet streets with city culture.
Provided by Walk Score and Local Logic
Market insights
2938a-2944 Chapel Hill Rd · $4,300,000
DAYS ON MARKET
37 days
The average home goes pending in 59 days.
SALE-TO-LIST
97.7%
Most homes are selling 2% below list price.
LIST PRICE
$4,300,000
Median list price in this area is $324,629. (92% lower than this home)
PRICE DROP
0 price drops
32% of homes in this area have had a price drop in the past month.
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Interior features
Multiple laundry locations
Finished basement with walk-out access
Bedrooms
32 total bedrooms
Bathrooms
32 full bathrooms
8 half bathrooms
Laundry & utility
Multiple laundry locations
Flooring
Luxury vinyl
Tile
Heating & cooling
Natural gas heating
Central electric air conditioning
Exterior features
Public-maintained road access
Slab foundation
Architectural shingle roof
Home design
Duplex / Townhouse / Other structure types
Quad-level layout
Building named Valley Heights
Parking
Open parking available
22 open parking spaces
Assigned and guest parking
Parking pad and paved areas
Construction
Board & batten siding
Cement siding
Approximately 18,504 total building area
Utilities
Public water
Public sewer
HOA & community
No association
Financial info
8 total units (multi-family property)
Owner pays: see remarks
Electricity and solar
View estimated energy costs and solar savings for this home
Sale and tax history for 2938a-2944 Chapel Hill Rd
Sale History
Tax History
Date
Event
Price
TMLS #10195501
Sep 29, 2026
Listed
$4,300,000
$232/sq ft
Year
Property tax
Land + Additions
Assessment*
2023
$866 (−60.3%)
$66,125
2022
$2,179 (+0.5%)
$72,795 + $97,470
$170,265
2021
$2,169 (+2.4%)
$72,795 + $97,470
$170,265
2020
$2,118
$72,795 + $97,470
$170,265
2019
$2,118 (+16.7%)
$72,795 + $97,470
$170,265
2018
$1,815 (+0.7%)
$28,485 + $105,345
$133,830
2017
$1,802 (+3.5%)
$28,485 + $105,345
$133,830
2016
$1,741 (+5.0%)
$28,485 + $105,345
$133,830
2014
$1,658 (+3.1%)
$23,458 + $96,357
$119,815
2013
$1,608 (+104.6%)
$23,458 + $96,357
$119,815
2012
$786 (+0.7%)
$23,458 + $96,357
$119,815
2011
$781
$23,458 + $96,357
$119,815
Public record
Public record
Zoning
Permits
Beds
2
Baths
1
Stories
1
Lot width
—
Lot depth
—
Lot size
6,534 Sq. Ft.
Year renovated
—
Finished Sq. Ft.
1,034
Unfinished Sq. Ft.
—
Total Sq. Ft.
1,034
Year built
1939
Style
Townhouse
County
Durham County
APN
232329
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Feb 26, 2026.
RS-M
Residential Suburban Districts
The RS Districts are established to provide for orderly suburban residential development and redevelopment. A limited number of nonresidential uses are allowed, subject to the restrictions necessary to preserve the character of the suburban neighborhood. Multifamily development is permitted in areas designated RS-M, which should have convenient access to arterial streets and nearby civic, commercial or employment uses.
Permitted uses
Include but are not limited to:
Agriculture
Community / recreation center
Aug 10, 2026 • Final
Building
Demolish a residential building.
Demolition
Aug 10, 2026 • Final
Building
ADU
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Historical weather
Durham, NC • 27707
Average low and high temperatures (°F)
48
29
54
35
70
44
77
53
79
58
90
69
91
73
82
68
81
63
70
52
65
44
53
34
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
96/ 100
Exceptional sunlight
Sunscore
This home receives average direct sun exposure in Durham. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
10.5 hrs
6.6 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 2938a-2944 Chapel Hill Rd
$3,426,711
$873K under list price of $4.30M
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $428K to $1.3M.