7221 Farrington Road, Chapel Hill, NC
• 4 acres
• 6 lot yield
• 10 minutes from RDU Airport
• 5 minutes to Southpointe Mall
• 2 Minutes to I-40 / 5 Minute to UNC / 10 Minutes to Duke
This area is in VERY high demand. Adjacent completed neighborhood in the $500k price range with consistent quick sales / low inventory. No competition in the price point for new in the area. VERY LIMITED land supply in this area due to Jordan Lake buffers. Best Durham schools.
Site is on a paved street. Infrastructure limited to sewer line extension. Land is being re-zoned and Annexed into the City of Durham right now.
Option 1- Investor Funded acquisition and development
Monies disbursed in a lump sum or drawn as progress payments. Interest accrues from distribution date. Grayson Dare repays principal and interest as individual lots are absorbed with construction loans on pre-sold homes. Investor secured with blanket Deed of Trust on project.
Option 2 – Lots are platted and sold to Investor(s). Principle and
Interest are accrued on a lot by lot basis. Grayson Dare develops
property. Grayson Dare re-purchases developed lots at agreed upon
price (principal and interest accrued). Lots are secured with Deed of
Trust, Grayson Dare provides a take down agreement for absorption rate.
Investment Horizon and Expected Returns
Option 1- Lump Sum / Draw Down
Option 2- Paper Lot Purchase