This run screened ~35 land and development parcels across Wake Forest, Holly Springs, Apex, Fuquay-Varina, Raleigh, Durham, Chapel Hill, and Chatham County. The South Wake markets (Holly Springs $233–238/SF, Wake Forest ~$197/SF) showed limited raw-land inventory with public sewer at a buildable basis today. The strongest three opportunities surfaced in Durham: two approved or near-approved townhome development sites and one 2-lot infill play with permits in hand. No client-requested analyses this run.
| # | Property · Strategy & project cost | List | Net | Margin | Max Offer | Grade |
|---|---|---|---|---|---|---|
| 1 | 5202 Garrett Rd (Lots 62–64), Durham, NC 27707 · Build 6 approved townhomes — SW Durham near Duke/UNC $1M–$5M project | $400,000 | +$535,578 | 18.6% (base $480K/unit) → 20.1% at $490K/unit | $363,000 at $480K ARV · $444,000 at $500K ARV | GOOD |
| 2 | 7403 Leesville Rd, Durham, NC 27703 · Build 8 townhomes — near-final approval, plans complete, US-70/Southpoint corridor $1M–$5M project | $449,900 | +$782,840 | 21.3% | $493,000 | GOOD |
| 3 | 516 N Maple St + 517 Spruce St, Durham, NC 27703 · Build 2 SFH — East Durham infill, permits approved, low capital entry $500K–$1M project | $240,000 (2 lots combined) | +$130,221 | 15.5% (base); 20%+ requires ≥$380/SF ARV or ≤$204K land price | $204,500 | MARGINAL |
Project cost is the whole job — land, carry, build and financing, everything except selling. Click any property for its full deep-dive. Figures are model outputs on best-effort public listing data — re-verify each listing is active and clear the go/no-go gates before acting.
Sold comps supporting ARV estimates: Durham overall median $227/SF (Redfin, Aug 2026); Garrett area Durham median home $625,000 / avg $638,571 (May 2025); Southpoint Durham townhomes $340K–$615K, median $449,444 (Dec 2025); new construction near Duke University — 1012 Manor Way Durham sold $1,150,000 / 2,682 SF = $429/SF (2025); Holly Springs median new construction $873K (Sep 2026); Chapel Hill median $316/SF up 11.3% YoY (Aug 2026). Source: Redfin, Blue Orchid Realty, HollyspringsUpdate.com, Living in Raleigh NC Blog.
Durham's approved-project pipeline is where the margin lives right now. The three deals share a common driver: sellers who completed expensive, time-consuming entitlement work and are passing the benefit to a builder-buyer willing to execute quickly. The 5202 Garrett Rd site stands out — fully permitted, Garrett area median $625K, and land basis at $67K/door. Recommended next step: schedule showings and request the approved site plans for both Durham townhome sites this week; the 7403 Leesville deal warrants a quick call to confirm final approval status before serious pursuit.