No pending client requests. Three live MLS deals cleared the screen today across Chapel Hill, Apex, and Wake Forest. The Chapel Hill property is a price-reduced infill with preliminary subdivision approval already in hand — buy below MAO and capture 25% investor margin. The Apex parcel is a 224-days-on-market land play in a Mixed Residential-designated corridor: buy at ~$62k/acre, rezone, sell approved lots for 30% return without touching a nail gun. The Wake Forest pair of GR5 lots is a fresh listing (9 DOM) best positioned for build-own buyers or premium-finish investors who can push past $260/SF.
| # | Property · Strategy & project cost | List | Net | Margin | Max Offer | Grade |
|---|---|---|---|---|---|---|
| 1 | 200 Eastwood Rd, Chapel Hill, NC 27514 · Strategy C: Buy house+land, complete subdivision into 2 lots — sell existing 4/3 home on Lot 1, build 1,700 SF new on Lot 2 $500K–$1M project | $400,000 | +$286,203 | 25% | $460,000 | GOOD |
| 2 | 4721 Edwards Drive, Apex, NC 27539 · Strategy D: Entitlement play — rezone RR → MR (Mixed Residential), subdivide into 5 lots, sell approved lots to builders $250K–$500K project | $215,000 | +$167,200 | 30% | $271,000 | GOOD |
| 3 | 620 & 626 Brewer Ave, Wake Forest, NC 27587 · Strategy B: Build 2 single-family homes on pre-platted GR5 downtown Wake Forest lots with utilities in place $500K–$1M project | $150,000 | +$6,722 | 1% | $150,000 | 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.
Chapel Hill new construction: 306 Hickory Dr new build at $365/SF (active), 113 Black Bear Ct under construction $300/SF (active) — used $350/SF conservative for new build on Lot 2. Existing home comp: Chapel Hill 4-bed/3-bath near downtown supports $500k–$600k; modeled $540k. Wake Forest: new construction listing average $243/SF (507 active properties, Redfin June 2026); median sold $189/SF. Apex/Holly Springs: median sold $241/SF (Redfin July 2026); entitled lots near Holly Springs $90k–$130k from local brokerage data. Raleigh ITB new construction: 909 Oberlin Rd $476/SF (2026), 720 Oakwood Ave $464/SF. All sources: Triangle MLS via Redfin, Homes.com, Coldwell Banker, Caruso Homes, October 2026.
Two paper-thin themes dominate the screen: (1) Chapel Hill, with its constrained supply and $300–365/SF new construction, rewards anyone who can split or entitle a lot before the next buyer finds it; (2) distressed-hold motivations — the Apex 3.44-acre parcel has been sitting 224 days while the Town's own comprehensive plan signals 'build more density here.' Both deals trade at or below their respective MAOs. Immediate next steps: (a) tour 200 Eastwood Rd this week and confirm existing home condition with Divine Realty & Auction Group; (b) email Town of Apex Planning for a pre-application meeting on 4721 Edwards re: MR rezoning and sewer capacity for 5 units.