PROPERTY TYPE: Single Family | INFILL / REDEVELOPMENT PLAY
BEDS / BATHS: 2BD / 1BA
652 SQ FT
BUILT 1930
LOT SIZE: 2,614 SQ FT
PUBLIC WATER / PUBLIC SEWER — NO SEPTIC
OCCUPANCY AT CLOSING: VACANT
ACCESS: BY APPOINTMENT — CALL/TEXT TO SCHEDULE YOUR WALKTHROUGH
THE PLAY
This is not a renovation deal. This is a LAND PLAY in one of Raleigh’s most actively redeveloping infill corridors.
211 Maple St sits in a pocket of east Raleigh where the neighborhood has already turned. The existing structure is a 652 sq ft 1930-built 2/1 — effectively a teardown. What you are buying is a city lot on public water and sewer, inside Raleigh city limits, surrounded by new construction that has been selling in the $355,000 to $595,000 range within the last six months.
A VACANT LOT ON BOYER ST — ONE BLOCK OVER — TRADED AT $200,000 LAST YEAR. A NEARBY LOT COMP IS AT $246,000. YOU ARE BEING OFFERED THE LAND AND A STANDING STRUCTURE FOR $125,000.
The entire block pattern around this address is newer builds — constructed within the last five years. The transition has already happened. You are not betting on a neighborhood turning; you are buying into one that has turned.
NEARBY SOLD COMP SNAPSHOT — PAST 6 MONTHS
1311 Boyer St — VACANT LOT — SOLD $200,000 — one block from subject — paid for land only, no structure Nearby lot comp — $246,000 — immediate vicinity — LAND ONLY 1406 E Jones St — $483,000 range — recent sale — new construction corridor 1505 E Jones St — $570,000 range — recent sale — new construction corridor E Lane St area comp — $355,000 Boyer / Carver corridor — $460,000–$595,000 range
NEW CONSTRUCTION IN THIS IMMEDIATE CORRIDOR IS CLEARING $350,000 TO $595,000. VACANT LOTS ARE TRADING AT $200,000–$246,000. THE SUBJECT IS PRICED AT $125,000.
WHY THIS WORKS
RALEIGH CITY LIMITS. Not ETJ, not county. City limits with city utilities already in place — public water AND public sewer confirmed. No well. No septic. No perc test. No utility extension costs. That is a material advantage for any builder underwriting an infill project.
FULLY REDEVELOPED BLOCK PATTERN. Surrounding homes are all new builds, constructed within the last five years. Comparable product is already selling and appraisals are supported by the surrounding comp set.
EXISTING STRUCTURE IS IRRELEVANT TO VALUE. At 652 sq ft built in 1930, the structure adds no meaningful value to the equation. Demolition and infill is the underwrite.
LAND COMPS ALREADY EXCEED ASKING PRICE. You are not speculating on land value — you have direct evidence of lots trading at $200K and $246K within one block, before you put a shovel in the ground.
EXIT STRATEGIES
SCRAPE AND BUILD. Primary play. Demolish the existing structure, pull permits, build to the neighborhood’s new construction standard. Comparable finished product in this corridor is clearing $350,000–$595,000.
ASSIGN THE LOT. Sell to a local builder or infill developer at or above the $200K–$246K land comp range. No construction required.
HOLD FOR APPRECIATION. Raleigh infill land in an actively developing corridor with city utilities. The direction of travel in this market is established.
DEAL TERMS
ASKING PRICE: $125,000 OCCUPANCY AT CLOSING: VACANT PUBLIC WATER / PUBLIC SEWER: CONFIRMED ACCESS: BY APPOINTMENT — CALL OR TEXT TO SCHEDULE YOUR WALKTHROUGH TODAY
