Real Estate Investing in Wilmington, North Carolina (28403)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 28403 (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.
- Elevated vacancy: 9.6% vacancy may signal weakening demand.
What’s happening in Wilmington, NC (28403)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 28403 Wilmington
The 28403 ZIP in Wilmington, NC is a local-operator market. Outside capital chasing a $400K entry has to pair deep knowledge with the discount.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $400K asset, 28403 is the wrong submarket. If the plan prices in friction, the yield can still work.
Turning to rents, 28403 offers a low basis, the region around Wilmington has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Who lives in 28403 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategy in 28403 is an operator game, not a passive one. On balance, entry prices of $400K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Wilmington:
Property Strategy for 28403
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $155,020 | $1,510 | 7.0% | +10.0% | $155,020 |
| 2BR | $261,365 | $1,650 | 4.5% | +9.0% | $130,683 |
| 3BR | $392,129 | $2,170 | 4.0% | +8.8% | $130,710 |
| 4BR | $706,417 | $2,310 | 2.4% | +11.2% | $176,604 |
| 5BR | $994,562 | — | — | +12.0% | $198,912 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 28403 Compare?
| Metric | 28403 | Wilmington | Wilmington, NC | North Carolina |
|---|---|---|---|---|
| Home Value | $399,701 | $226,533 | N/A | $330,565 |
| 5-Year CAGR | 6.7% | 6.4% | N/A | 7.8% |
| Avg Rent | $1,746 | $1,805 | N/A | - |
| Cap Rate | 3.4% | 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 28403 (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 | $399,701 |
| Monthly Rent | $1,746 |
| Price-to-Rent | 19.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.2% |
| Cap Rate | 3.4% |
| 5-Year IRR | 10.1% |
📈 Home Appreciation
| 1-Year | +4.3% ▲ |
| 3-Year CAGR | +3.0% ▲ |
| 5-Year CAGR | +6.7% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 Rent Trends
| 1-Year | +3.5% ▲ |
| 3-Year CAGR | +2.6% ▲ |
| 5-Year CAGR | +4.3% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.4%). 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 28403
Population: 40,292
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 28403
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
A H Snipes Academy of Arts/Des
R Freeman Sch of Engineering
Dr Hubert Eaton Sr Elem
John J Blair Elementary
Emma B Trask Middle
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
How much should I expect to pay for a home in Wilmington, NC?
Median home price in Wilmington, NC is near $400K, with a 5-year CAGR of 0.0%. Prices have been consistent and supportive of buy-and-hold strategies.
What is the tenant pool like in Wilmington, NC?
Wilmington, NC offers a even-keeled renter base at the $1,746/mo rent level. Tenant turnover is reasonable for well-managed properties.
How do experienced investors play Wilmington, NC?
In Wilmington, NC the impressive play is typically careful cash-flow rentals with hands-on management. The combination of $400K prices and $1,746/mo rents suits that approach.
Does house hacking work in Wilmington, NC?
House hacking in Wilmington, NC is a challenging. With home values around $400K and rents at $1,746/mo, owner-occupants can offset a meaningful share of PITI.
How landlord-friendly is Wilmington, NC?
Wilmington, NC falls under NC landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
You know 28403 now. You don’t know where it ranks.
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How 28403 ranks in Wilmington, NC
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