| Line | Amount |
|---|---|
| Gross revenue — sale price ($300/SF × 4,000 SF, Chatham Park comps) | $1,200,000 |
| Land acquisition + closing (~2%) | ($357,000) |
| Construction — builder cost (4,000 SF × $130 luxury finish) | ($520,000) |
| Home On builder margin (20% intro rate; standard 30%) | ($130,000) |
| Site development / infrastructure — all utilities already at property (incl. 20% margin) | ($18,750) |
| Contingency (10% of construction, AT COST — typically returned if unused) | ($52,000) |
| Construction loan closing + carry (10% APR on draws, 14-month build) | ($63,247) |
| HOA during construction ($140 × 14 months) | ($1,960) |
| Selling costs (~7%) — paid at sale closing, not out-of-pocket | ($84,000) |
| NET PROFIT TO INVESTOR | ~($52,957) · LOSS · PASS for investor flip |
Chatham Park new construction comps: NoVi 79 Parkland Dr (built 2025) $379,698 / 1,569 SF = $242/SF; Encore at Chatham Park (55+, David Weekley) $332–$369/SF; general active listings $200–260/SF. Modeled at $300/SF for a premium 4,000 SF estate — generous for Pittsboro market. MAO for 20% investor margin is only ~$63K vs. $350K ask — land priced for personal use, not investment flip. Buy-own value: 9.2 wooded acres with all utilities connected, gated community near Chatham Park (Toyota battery/Wolfspeed corridor, Chatham Park master plan) — genuinely exceptional personal estate value at $350K.
PASS as an investment. At $350K land, the investor build scenario loses $52,957 before even accounting for risk. MAO for a 20% investor return is only ~$63K — land is priced at a premium the Pittsboro market cannot support in a for-sale-new-construction context. However, for someone building their own primary or vacation estate: 9.2 wooded acres with ALL utilities connected (sewer, water, gas, electric) in a gated community near Chatham Park, Jordan Lake, and Haw River at $350K is exceptional value. Refer to any investor in the buy-own pipeline; do not pursue as a flip.