This run screened approximately 40 land and teardown-lot listings across Wake Forest, Apex, Holly Springs, Fuquay-Varina, Raleigh inside the beltline, and Morrisville/Cary. Two opportunities cleared the bar. The lead deal is a downtown Wake Forest GR3 infill lot at $120,000 with confirmed city sewer — the smallest dollar entry in the batch with the largest potential density premium. The second is a 3.44-acre tract in the Holly Springs ETJ (Apex address) that has sat 358+ days with confirmed public sewer and a Mixed Residential future land use designation, adjacent to Peterson Station at Sunset Lake (300+ apartments, 40,000+ SF retail); the price needs to move, but the motivated-seller signal and utility infrastructure distinguish it from raw land. Also flagged as a watch: an un-MLS-verified 6.15-acre parcel on Sunset Lake Road near Woodcreek (Holly Springs) listed at $399k with MR future LU and utilities nearby — worth a confirmation call before the next run. No client-requested analyses this run.
| # | Property · Strategy & project cost | List | Net | Margin | Max Offer | Grade |
|---|---|---|---|---|---|---|
| 1 | 0 Carroll St, Wake Forest, NC 27587 · Infill multi-unit build — 3 townhomes (GR3; VERIFY density); SFR fallback $500K–$1M project | $120,000 | +$283,283 | 21.5% | $138,294 | GOOD |
| 2 | 4721 Edwards Dr, Apex, NC 27539 (Holly Springs ETJ) · Rezone RR→MR, subdivide 10–12 SFR lots + build new; adjacent to Peterson Station mixed-use $5M–$10M project | $500,000 | +$816,466 | 13.0% | $97,880 | 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.
Holly Springs new construction: median sold ~$289/SF (Blue Orchid Realty Aug 2026 market report); large 3,100–3,400 SF new homes on W Holly Springs Rd listing at $794k–$821k (~$240–$258/SF list, Dogwood Properties / Beth Hines Team Oct 2026). Premium benchmark: 211 Page St, Morrisville — 3,412 SF 2026 custom farmhouse listed $1,480,000 = $434/SF, indicating adjacency to RTP and mixed-use development supports materially above-median pricing. Wake Forest new construction: average ~$243/SF as of Jun 2026 (Resideline / RaleighRealty market data); downtown Wake Forest townhomes (Magnolia Trace, McKinley Homes) listing $305k–$383k in 2026; infill single-family at 514 E Juniper Ave (2026 build) listed $679k. All figures are from named published sources; no invented addresses or prices.
0 Carroll St, Wake Forest is the highest-conviction short-list in this batch: $120,000 land with city sewer lands $18k below the 20%-margin MAO for a 3-unit townhome program — meaning the investor nets 21.5% even before any negotiation. The single gate is a 15-minute call to Wake Forest Planning to confirm GR3 allows multi-unit by-right; if it is single-family only, the deal grades MARGINAL but still nets 15%+ on ~$130k cash. 4721 Edwards Dr, Apex is a longer play: confirmed public sewer + MR future land use next to a 300-unit mixed-use development are strong fundamentals, but the price must come down significantly (offer $250–$375k; 358+ DOM gives leverage). Recommend: confirm Carroll St zoning today and schedule a site visit to Edwards Dr this week.