Real Estate Investing in Wilmington, North Carolina (28401)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 28401 (Wilmington, NC)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 16.2% of homes vacant — above national norms.
What’s happening in Wilmington, NC (28401)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 28401 Wilmington
Looking more closely, ZIP 28401 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $333K median. It rewards specialists, not generalists.
The investment case in 28401 is durable only for operators who understand what they are buying. A $333K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 28401 among NC's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 28401 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Experienced landlords with local relationships tend to find 28401 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Wilmington:
Property Strategy for 28401
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $301,153 | $1,300 | 3.1% | +8.8% | $301,153 |
| 2BR | $271,524 | $1,430 | 3.8% | +9.6% | $135,762 |
| 3BR | $328,358 | $1,880 | 4.1% | +9.4% | $109,453 |
| 4BR | $425,740 | $2,240 | 3.8% | +8.7% | $106,435 |
| 5BR | $556,529 | — | — | +8.9% | $111,306 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 28401 Compare?
| Metric | 28401 | Wilmington | Wilmington, NC | North Carolina |
|---|---|---|---|---|
| Home Value | $332,931 | $226,533 | N/A | $330,565 |
| 5-Year CAGR | 6.1% | 6.4% | N/A | 7.8% |
| Avg Rent | $1,647 | $1,805 | N/A | - |
| Cap Rate | 3.9% | 3.4% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 28401 (Wilmington, NC). Anonymous, moderated, never written by AI.
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Property managers serving New Hanover County
Manage rentals here? List your business →A1 Property Management specializes in professionally managed vacation rentals in Carolina Beach and Kure Beach on Pleasure Island. summary from their website
CAMS (Community Association Management Services) provides management and financial services for community associations, including onboarding and transition support. summary from their website
Wilmington, NC property management company offering services for homes and apartment communities, aiming to reduce owner stress and maximize earnings. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $332,931 |
| Monthly Rent | $1,647 |
| Price-to-Rent | 16.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.9% |
| Cap Rate | 3.9% |
| 5-Year IRR | 9.9% |
📈 Home Appreciation
| 1-Year | +2.5% ▲ |
| 3-Year CAGR | +1.5% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +9.1% ▲ |
🏠 Rent Trends
| 1-Year | -5.5% ▼ |
| 3-Year CAGR | -0.7% ▼ |
| 5-Year CAGR | +3.2% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.9%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 28401
Population: 21,820
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 28401
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 8,100 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Wilmington, NC a good market for buy-and-hold investors?
With a 3.0/5 investability score, Wilmington, NC ranks as a solid market for rental property investors. Median prices of $333K and rents of $1,647/mo drive the underlying numbers.
How high is vacancy risk in Wilmington, NC?
Wilmington, NC vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
How much rent can I charge in Wilmington, NC?
The typical rental in Wilmington, NC commands about $1,647/mo monthly. That rent profile consistent cash flow against the $333K purchase basis.
Where do home prices stand in Wilmington, NC?
Homes in Wilmington, NC typically sell near $333K. Prices have moved at a 0.0% 5-year CAGR, which measured long-term demand.
What kind of tenants rent in Wilmington, NC?
The tenant pool in Wilmington, NC is solid, supported by local employment and population fundamentals. Rents of $1,647/mo are well-absorbed by the market.
You know 28401 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 28401 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 28401 ranks in Wilmington, NC
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