#1 · 107 Edenburgh Rd, Raleigh 27608
| Line | Amount |
|---|---|
| Gross revenue — sale price (3,000 SF × $500/SF, Budleigh East 2025–2026 comps) | $1,500,000 |
| Land acquisition + closing (~2%) | ($488,580) |
| Construction — builder cost (3,000 SF × $111 builder grade) | ($333,000) |
| Home On builder margin (20% intro rate; standard 30%) | ($83,250) |
| Site development / public utilities ($30,000 cost + 20% HO margin) | ($37,500) |
| Soft costs — design, permits, survey (5% of construction, at cost) | ($16,650) |
| Contingency (10% of construction, AT COST — typically returned if unused) | ($33,300) |
| Construction loan closing + carry (1.5% closing + 10% APR, 9 mos half-drawn) | ($39,071) |
| Selling costs (~7%) — paid at sale closing, not out-of-pocket | ($105,000) |
| NET PROFIT TO INVESTOR | ~$363,649 · 24.2% margin · 106.7% cash-on-cash |
ARV support: Budleigh East 2025–2026 new construction — 2622 Tidwell St $1,659,000/2,888 SF = $575/SF; 2608 Tidwell St $1,575,000/2,888 SF = $545/SF; 2623 Marchmont St $1,995,000/4,164 SF = $479/SF (Compass Raleigh). Model uses $500/SF conservative (3,000 SF = $1,500,000). Downside at $479/SF (Marchmont): profit $306,559, margin 21.3%. MAO $541,401 — $62,401 cushion below ask price of $479,000.
GREAT — the strongest deal on the board. Buy a cleared, public-sewer R-6 lot in Budleigh (Raleigh ITB) for $479,000 and build 3,000 SF. Net profit $363,649 (24.2% margin, 107% cash-on-cash) at a conservative $500/SF ARV. Comps from 2025–2026 Budleigh East new construction support $545–575/SF — at those levels profit runs $469,000–485,000 (29–31% margin). Even at the most conservative Marchmont comp ($479/SF), deal delivers 21.3% margin. Price was recently cut from $499k; MAO is $541k ($62k above ask). Submit offer immediately — ITB cleared lots with confirmed sewer do not sit long. Also suitable for an investor who wants to build their own home.