Real Estate Investing in Wilmington, North Carolina (28405)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 28405 (Wilmington, NC)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.7% vacancy may signal weakening demand.
What’s happening in Wilmington, NC (28405)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 28405 Wilmington
Not every below-median market is a bargain. Wilmington's 28405 ZIP records signals that favor experienced operators who can absorb the risk $377K pricing implies.
The investment case in 28405 is solid only for operators who understand what they are buying. A $377K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Within NC, ZIP 28405 trails on several market indicators that neighboring New Hanover County submarkets outperform. The gap is real and solid enough to shape underwriting.
The demographic picture in 28405 includes headwinds that any investor should price in. Income distribution skews lower than Wilmington averages, and tenant stability requires active management.
The right play in 28405 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Wilmington:
Property Strategy for 28405
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $260,483 | $1,710 | 4.7% | +9.3% | $130,242 |
| 3BR | $354,038 | $2,240 | 4.6% | +8.6% | $118,013 |
| 4BR | $701,149 | $2,390 | 2.5% | +10.2% | $175,287 |
| 5BR | $1,427,106 | — | — | +11.8% | $285,421 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 28405 Compare?
| Metric | 28405 | Wilmington | Wilmington, NC | North Carolina |
|---|---|---|---|---|
| Home Value | $376,659 | $226,533 | N/A | $330,565 |
| 5-Year CAGR | 6.2% | 6.4% | N/A | 7.8% |
| Avg Rent | $1,696 | $1,805 | N/A | - |
| Cap Rate | 3.5% | 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 28405 (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 | $376,659 |
| Monthly Rent | $1,696 |
| Price-to-Rent | 18.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.4% |
| Cap Rate | 3.5% |
| 5-Year IRR | 9.7% |
📈 Home Appreciation
| 1-Year | +1.5% ▲ |
| 3-Year CAGR | +1.9% ▲ |
| 5-Year CAGR | +6.2% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 Rent Trends
| 1-Year | -0.3% ▼ |
| 3-Year CAGR | +0.9% ▲ |
| 5-Year CAGR | +4.7% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.5%). 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 28405
Population: 35,159
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 28405
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
College Park Elementary
Forest Hills Global Elementary
Edwin A Alderman Elementary
Winter Park Model Elementary
Roland-Grise 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 tight is the rental market in Wilmington, NC?
Vacancy risk in Wilmington, NC is elevated. That supports consistent cash flow for typical rental holds.
What kind of tenants rent in Wilmington, NC?
Wilmington, NC offers a even-keeled renter base at the $1,696/mo rent level. Tenant turnover is reasonable for well-managed properties.
How do landlord-tenant laws work in Wilmington, NC?
NC ranks as a landlord-friendly state for landlord-tenant law. Wilmington generally follows the statewide framework, so landlords face reasonable operating rules.
Can owner-occupants cash flow in Wilmington, NC?
Wilmington, NC is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $377K price point reasonable to enter.
How do home values compare in Wilmington, NC?
In Wilmington, NC the median home value sits at $377K. Against the broader NC market, that reads as reasonable for most investors.
You know 28405 now. You don’t know where it ranks.
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How 28405 ranks in Wilmington, NC
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