| Line | Amount |
|---|---|
| Gross revenue — sale price (20 homes × $744K ARV comps) | $14,880,000 |
| Land acquisition + closing (~2%) | ($765,000) |
| Construction — builder cost (20 homes × 2,400 SF × $111 builder grade) | ($5,328,000) |
| Home On builder margin (20% intro rate; standard 30%) | ($1,332,000) |
| Site development / infrastructure (20 lots, public sewer, incl. 20% margin) | ($1,625,000) |
| Contingency + soft costs (15% of construction, AT COST — contingency typically returned if unused) | ($799,200) |
| Construction loan closing + carry (10% APR on draws, 24-month build) | ($849,494) |
| Selling costs (~7%) — paid at sale closing, not out-of-pocket | ($1,041,600) |
| NET PROFIT TO INVESTOR | ~$3,139,706 · 21.1% margin · 94.4% cash-on-cash |
ARV support: Holly Springs new-construction active listings $240–$376/SF; 743 W Holly Springs Rd $785K/2,944 SF ($267/SF), 749 $789K/3,008 SF ($262/SF), 755 $821K/3,414 SF ($241/SF); Toll Brothers Westview Classic $757K/2,015 SF ($376/SF). Median market sold $612K (778 closings past year). 2,400 SF builder-grade home targeted at $310/SF = $744K is within supported range. Break-even ARV for 20% margin at $750K land: ~$307/SF. MAO $910K — deal clears 20% even $160K above current ask.
Best land play in this scan. At $750K ask (MAO $910K), a 20-home builder-grade subdivision on 12.43 MXR acres with public sewer projects $3,139,706 net profit — 21.1% margin and 94.4% cash-on-cash return. Downside: if ARV slips to $290/SF, margin falls to ~15% (MARGINAL but still profitable; MAO at $290/SF is ~$530K). Recommend agent visit within 48 hours to verify creek setback and sewer tie-in before competing buyers move on this 12-day-old listing.