No client requests were pending this run. Scan covered active land and lot listings across Wake Forest, Chapel Hill/Chatham County, Apex, Cary, Durham, and Hillsborough. Most Wake Forest land lists without public sewer at $195–210/SF resale — below the build-new threshold. The standout opportunity is the last estate lot in Gallant Reserve (Chapel Hill/Chatham County), a luxury enclave where the one active built comp is listing at $446/SF ($1.895M for 4,251 SF). At a conservative $400/SF modeled ARV the deal grades GOOD at 23% investor margin. Also flagged: a builder-ready public-sewer lot in The Preserve at Jordan Lake at an all-in below $715K against a ~$912K ARV (strong build-own play), and a price-cut Apex parcel with public sewer already at the property and a Mixed-Use future land use designation — a rare entitlement setup in a sewer-constrained market.
| # | Property · Strategy & project cost | List | Net | Margin | Max Offer | Grade |
|---|---|---|---|---|---|---|
| 1 | 586 Poythress Rd (Lot 1), Chapel Hill, NC 27516 · Build new luxury home — last estate lot in Gallant Reserve enclave; $400/SF conservative comp on 4,000 SF $1M–$5M project | $299,800 | +$369,615 | 23.1% | $346,000 | GOOD |
| 2 | 496 Davis Love Dr, Chapel Hill, NC 27517 (The Preserve at Jordan Lake) · Build new — builder-ready lot, public sewer confirmed; strong build-own value; modest build-invest upside $500K–$1M project | $149,450 | +$133,837 | 14.7% | $104,000 | MARGINAL |
| 3 | 5828 Old Smithfield Rd, Apex, NC 27539 · Entitlement — price-cut 2-ac public-sewer parcel; RR zoning with Mixed-Use future land use; buy, rezone, resell entitled to developer Under $250K project | $165,000 | +$246,950 | 49.4% | $165,000 ask IS the play (entitlement only) | 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.
Gallant Reserve comps: single active home listing, 586 Poythress Rd (MLS 10133674), 4,251 SF, $1,895,000 = $446/SF asking; community avg listed at $446/SF; modeled conservatively at $400/SF (10% haircut to ask). The Preserve at Jordan Lake comps: Redfin/Neighborhoods.com report median sold $/SF = $256–$285, median home sale ~$940K over trailing 12 months (7 sales in May 2026 per Redfin). Apex overall market: Resideline 704 closings YTD, median $241/SF, used only for entitlement exit-price sanity check (no build-new modeled for Apex). All comp figures sourced from Redfin, Neighborhoods.com, and Resideline as of Sept 2026; Home On re-verifies via Triangle MLS before any offer.
The best current play in the Triangle is a luxury new build on the last estate lot in an established enclave (Gallant Reserve) where you pay $299,800 for 3.29 acres against a $1.6M+ ARV and net the investor 23% margin / 147% CoC at conservative assumptions. The Preserve lot doubles as a compelling build-own story — spend $714K all-in to own a ~$912K resort-community home — and also offers modest build-invest upside. The Apex entitlement is a paper play for a patient buyer: buy a price-cut 2-acre public-sewer parcel aligned with Mixed-Use future land use, get it rezoned, and resell to a developer without touching a shovel. Recommended next step: send Gallant Reserve lot to inspection + Chatham County CAMA pull this week; the only competition is a single buyer for the last lot in a community that clearly supports $400+/SF.