This run screened ~35 active land listings across Wake Forest, Holly Springs, Apex, Fuquay-Varina, Cary/Morrisville, Chapel Hill/Carrboro, and Pittsboro. No pending client requests. Three listings cleared. The standout is a 20.54-acre assemblage (14+ parcels, MLS 10105595) on Ralph Drive just off N. Main Street in Wake Forest — GR3-zoned, adjacent to the active 726-unit Kinsley master-plan community (confirmed city sewer + water), and priced at $1.55 million. Modeled as a paper-win entitlement play (plat ~40 lots, sell to builder), the deal returns an estimated $1.84 million profit at a 48% margin — the MAO for the build scenario ($290/SF premium) is $1.81 million, providing cushion above the ask. A smaller 0.43-acre GR3 infill lot with confirmed city sewer on Carroll Street ($120K, MLS 10128730) is an excellent build-own play — total all-in cost $583K vs. Wake Forest retail median new construction of $709K, saving roughly $126K. Finally, a 31.67-acre rural tract on Cass Holt Road in Holly Springs (MLS 10164432) dropped 25% from $1 million to $750K over 154 days — the seller is motivated, but the site carries no utilities and RR zoning limits straight-build economics; it is MARGINAL unless rezoning + sewer extension can be secured.
| # | Property · Strategy & project cost | List | Net | Margin | Max Offer | Grade |
|---|---|---|---|---|---|---|
| 1 | 0 Ralph Drive (20.54-Acre Assemblage), Wake Forest, NC 27587 · Entitlement: plat ~40 lots adj. Kinsley, sell to builder (~$1.84M profit); premium-build alternative at $290/SF breaks 20% $1M–$5M project | $1,550,000 | +$1,837,000 | 48% | $1,808,240 | GOOD |
| 2 | 0 Carroll Street, Wake Forest, NC 27587 · Build-own custom home: city sewer confirmed, GR3, $120K land — all-in $583K vs. $709K retail median (save ~$126K) $500K–$1M project | $120,000 | +$70,240 | 10% | $99,390 | MARGINAL |
| 3 | 7324 Cass Holt Road, Holly Springs, NC 27540 · Motivated seller (25% drop, $1M→$750K in 5 months) — rural develop/entitlement play; straight build NEGATIVE at current ask $1M–$5M project | $750,000 | +$1,264,600 | 48% | $586,040 | 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.
Wake Forest sold data (Redfin, Oct 2026): median new-construction price $709K, median sold $/SF $216, middle half $176–$227/SF; upper-market infill estimated $250–$280+/SF. Holly Springs sold: 113 Dunton St sold 5/20/2026 at $875,000 (2,817 SF = $310.61/SF, Triangle MLS); 440 Dunton St (Regency active adult, Toll Bros) sold 4/9/2026 at $1,120,009 (~$390/SF); market median $237/SF, middle half $210–$264/SF (Redfin Aug 2026). Apex median sold $241/SF, new-construction avg listing $261/SF (Redfin). All comps drawn from Triangle MLS data via Redfin and Coldwell Banker, 2026.
Wake Forest continues to be the best risk-adjusted market in this scan: city-infra coverage, strong new-construction comps ($216–$280+/SF), and a downtown adjacency premium are all present. The Ralph Drive assemblage is the actionable lead — the path of least resistance is a quick entitlement ($1.84M modeled profit in ~18 months) rather than speculative construction. Immediate next step: call listing agent (Golden Realty, MLS 10105595), request the town utility map showing the sewer stub location at the Kinsley boundary, and order a preliminary plat analysis from a Wake Forest-registered civil engineer to confirm ~40-lot yield under GR3. If sewer is confirmed at the boundary, this deal warrants an offer near list price. The Carroll Street lot is a ready-to-close build-own opportunity for any client looking to build a custom home in Wake Forest with city utilities for materially less than retail.