2551 Corley Wood Drive Raleigh, NC 27518

Street Address 2551 Corley Wood Drive Raleigh, NC 27606 Features * No city taxes * Minutes from Crossroads shopping center in Cary * Established neighborhood is (over 90% built out) * Neighboring home sale prices range from $450k to $650k * Property is the last lot on a dead-end road ensures no through traffic. * A small creek that is only active during rain cuts diagonally across back corner of lot. A wake county buffer area exists on both sides of the creek, which means no one can ever build behind the lot (to the east) or on the south side. As a result the lot can only ever have 1 neighbor (to the north). * Grading survey has been completed ($400 expense). * Silt protection fence is already installed ($1700 expense). * Complete custom home plan included (cost $7500), but there is no requirement to use it if you don't want to. * Land requiers septic systems and has been permitted for 4 bedrooms. * Water source is a community well. History I purchased the lot in April 2011 from a builder who had bought the lot in 2005 for $155,000. He was a month away from having the lot foreclosed on, and because banks still had high lending requirements for land purchases at that time, he was not able to find buyers who could qualify. Having just sold my last home, I was able to pay cash. That combined with his tenuous situation allowed me to negotiate a strong deal. I was planning to build a new home for my family on the property. We had plans drawn up for a 4-Bedroom, 3.5 Bath, three-story, 4350 sqft, custom ...(show more) home with a detached 960 sqft two-story garage and had all permits approved by the county. Right as we were about to pay for the permits, so that we could break ground, we came across an existing home for sale that we absolutely loved; so much so that we decided to buy it instead of building. With the sale of the property, I'll include the lots surveys, house plans, engineering letters, and selection work sheets for the house we were going to build. They cost $7500 to compile. Wake County GIS Map The wake county GIS survey shows a cemetery at the back of the neighboring lot to the north. Before buying the property, I walked the land and discovered that there is only one headstone and it is hidden back in the woods, well out of sight. Comparables: 2532 Corley Wood Dr - On 6/9/2011, the 0.61 acre lot sold for $120,000 (price per acre = $196,721) Wake County Record:: Corley Wood Dr - On 6/19/2011, the 0.67 acre lot sold for $80,000 (price per acre = $119,402) Wake County Record::