102 S 11th St · Wilmington, NC 28401

$209,900

2 bd · 1.0 ba · 999 sqft · SingleFamily public records · 11 Days on market

Built 1920 2,483 sqft lot Est $299k · 30% under

---

Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.0/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

This owner also has 15 other properties for sale on the market that can be sold individually or packages. They are under the same LLC name. This is a 2 bedroom 1 bath property in an area with lots of renovations and new construction projects. Currently Used as an investment property but has the option of many different uses. Reach out for more details. Reach out for a full list and prices. Some of the properties in the portfolio have gone through renovations or currently going through renovations. The others are currently rented. We have great lenders and vendors to help qualify with favorable terms.

Key facts

• 2,483 sq ft lot
• Built 1920
• Listed 11 days

Property features AI

Finance

• Other: Zoning: R-3
• HOA & community: No association amenities

Exterior

• Parking: On-street parking
• Utilities: Public water; Sewer available; Water available
• Home design: Single-family residence; One story; Entry level: 1
• Construction: Vinyl siding and frame construction; Block foundation; Built with a crawl space
• Exterior features: Porch; Partial fencing; Shingle roof; Has a view

Interior

• Kitchen: Electric cooktop; Refrigerator; Dishwasher
• Bedrooms: Master downstair(s)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Electric forced-air heating
• Interior features: Master bedroom located downstairs; Window coverings
• Laundry & utility: Laundry in hall

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $102 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (19.1% below list).
• Recommended offer: $170k (19.1% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 2.6% in Wilmington — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 70/100 on livability (#142 in NC) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living B+, housing B+; Watch: amenities C-, employment C-, crime F.
• New Hanover County Schools (urban): math 48% / reading 53% proficiency, ranked #61 of 178 in NC (top 34%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: A H Snipes Academy of Arts/Des (math 17% / reading 22%, grade F, #1,242 of 1,410 statewide, top 90%, 377 students, 99% FRL); Williston Middle (math 17% / reading 30%, grade F, #402 of 475 statewide, top 85%, 683 students, 100% FRL); New Hanover High (math 60% / reading 53%, grade C, #261 of 535 statewide, top 49%, 1,466 students, 100% FRL) — zoned schools average 100% FRL vs 42% district-wide (58 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 33% at this address vs 50% district-wide (-17 pts) — the specific schools serving this property underperform the New Hanover County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.5%/yr); 278 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,581 units permitted in New Hanover County in 2024 (1,185 in 5+ unit buildings).
• This rent runs 35% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• New Hanover County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,794 (19.1% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.81% ✗
• Cap rate: 6.88%
• Cash-on-cash: 2.08%
• DSCR: 1.09
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $298,701
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
311 S 15th St	0.39mi	2/1.0	970 (-3%)	1mo	$222,000	$229	77
118 S 13th St	0.15mi	3/2.0 (+1)	1,048 (+5%)	2mo	$300,000	$286	74
616 S 7th St	0.57mi	2/1.0	995 (-0%)	0mo	$177,750	$179	73
209 Mcrae St	0.38mi	3/2.0 (+1)	993 (-1%)	1mo	$350,000	$352	72
617 S 9th St	0.51mi	3/1.5 (+1)	993 (-1%)	2mo	$299,900	$302	67
1101 Chestnut St	0.26mi	2/1.0	1,126 (+13%)	3mo	$223,275	$198	64
514 Church St	0.53mi	2/2.0	1,030 (+3%)	2mo	$405,000	$393	64
836 Fanning St	0.69mi	3/1.0 (+1)	1,013 (+1%)	2mo	$120,000	$118	59
317 S 15th St	0.41mi	2/1.5	1,144 (+14%)	1mo	$280,000	$245	54
320 N 19th St	0.73mi	2/2.0	960 (-4%)	3mo	$289,000	$301	53
1115 Grace St	0.34mi	3/2.0 (+1)	1,139 (+14%)	1mo	$340,000	$299	51
1110 Queen St	0.53mi	3/2.0 (+1)	1,117 (+12%)	1mo	$355,000	$318	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -16.0%
• Equity multiple: 0.45×
• Total profit: $-32,603
• Equity at exit: $31,297

10-year hold

• IRR: -13.1%
• Equity multiple: 0.32×
• Total profit: $-39,686
• Equity at exit: $18,148

Cash invested: $58,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 85 Strongly Landlord-Friendly
• State North Carolina: 85 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

10-day notice; preempted; landlord-favorable but court speed varies.

Methodology + full state rankings →

ZIP-level market 28401

• Rents YoY: -0.5%
• Active inventory: 278
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,698 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$51 /mo · $615/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $102

Break-even live

Break-even rent $1,569

Max offer price $209,900

Occupancy floor 89%

Sensitivity live

Price	-10% $221	-5% $161	+0% $102	+5% $42	+10% $-17
Rent	-10% $-32	-5% $35	+0% $102	+5% $169	+10% $236
Rate	-1.0pp $208	-0.5pp $155	base $102	+0.5pp $48	+1.0pp $-8

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
418 S 8th St Wilmington, NC	2.0	1.0	873	$2,200	$2.52	15d	1	0.40mi
919 Castle St Wilmington, NC	1.0	1.0	578	$1,200	$2.08	15d	1	0.42mi
919 Castle St Wilmington, NC	2.0	2.0	688	$1,375	$2.00	22d	1	0.42mi
1108 Castle St Unit C Wilmington, NC	1.0	1.0	625	$1,375	$2.20	22d	1	0.44mi
1108 Castle St #112 Wilmington, NC	1.0	1.0	750	$1,500	$2.00	22d	1	0.44mi
1108 Castle St #106 Wilmington, NC	2.0	2.0	900	$1,625	$1.81	22d	1	0.44mi
1124 Castle St Unit 206 Wilmington, NC	1.0	1.0	598	$1,350	$2.26	22d	1	0.44mi
1124 Castle St Unit 201 Wilmington, NC	1.0	1.0	686	$1,475	$2.15	22d	1	0.44mi
1102 Castle St Unit 202 Wilmington, NC	1.0	1.0	587	$1,300	$2.21	22d	1	0.44mi
1102 Castle St #306 Wilmington, NC	1.0	1.0	587	$1,325	$2.26	22d	1	0.44mi
1102 Castle St Unit 201 Wilmington, NC	2.0	2.0	748	$1,450	$1.94	15d	1	0.44mi
607 S 11th St Unit 208 Wilmington, NC	2.0	2.0	960	$1,585	$1.65	15d	1	0.44mi
420 Market St Wilmington, NC	1.0–3.0	1.0	935	$1,425	$1.52	15d	1	0.50mi
1704 Church St Wilmington, NC	2.0	2.0	830	$1,475	$1.78	22d	1	0.57mi
1704 Church St Wilmington, NC	1.0	1.0	525	$1,275	$2.43	15d	1	0.57mi
1704 Church St Unit 310 Wilmington, NC	1.0	1.0	525	$1,250	$2.38	22d	1	0.57mi
715 S 13th St Wilmington, NC	3.0	2.0	936	$2,300	$2.46	22d	1	0.58mi
1904 Perry Ave Wilmington, NC	2.0	1.0	1017	$2,500	$2.46	22d	1	0.62mi
709 N 11th St Wilmington, NC	2.0	1.0	800	$1,475	$1.84	22d	1	0.63mi
422 S 3rd St Wilmington, NC	2.0	1.0	734	$1,550	$2.11	15d	1	0.72mi
618 S 3rd St #2 Wilmington, NC	2.0	2.0	1000	$1,750	$1.75	22d	1	0.81mi
524 N 2nd St Wilmington, NC	2.0	2.0	1000	$1,450	$1.45	22d	1	0.86mi
14 Grace St Wilmington, NC	1.0–2.0	1.0–2.0	1041	$2,347	$2.25	15d	3	0.87mi
10 Grace St #302 Wilmington, NC	1.0	1.0	600	$2,200	$3.67	22d	1	0.90mi
814 N 3rd St Wilmington, NC	2.0	2.0	1009	$1,692	$1.68	15d	3	0.97mi
2247 Wrightsville Ave Wilmington, NC	3.0	1.0–2.0	753	$1,363	$1.81	15d	9	1.13mi
710 Taylor St Unit D Wilmington, NC	2.0	2.0	885	$1,395	$1.58	15d	1	1.13mi
505 Alpine Dr Wilmington, NC	1.0–3.0	1.0–2.0	1009	$1,454	$1.44	15d	9	1.14mi
901 Nutt St Wilmington, NC	3.0	1.0–3.0	1112	$4,374	$3.93	15d	24	1.17mi
19 Harnett St Wilmington, NC	2.0	1.0–2.0	832	$3,709	$4.46	15d	18	1.23mi
1045 N Front St Wilmington, NC	1.0–3.0	1.0–2.0	1107	$2,190	$1.98	15d	19	1.24mi
301 Martin St Wilmington, NC	2.0	2.5	1036	$2,400	$2.32	22d	1	1.27mi
1519 Lake Branch Dr Wilmington, NC	1.0–3.0	1.0	720	$1,125	$1.56	22d	1	1.30mi
1015 Nutt St Wilmington, NC	1.0–2.0	1.0–2.0	934	$2,150	$2.30	15d	28	1.31mi
1400 S 2nd St Wilmington, NC	1.0–2.0	1.0–2.5	956	$2,533	$2.65	15d	13	1.33mi
1625 S 17th St Wilmington, NC	2.0	1.0–2.0	920	$2,097	$2.28	15d	29	1.37mi

Listing history 8 events

1. 2026-06-21
   days on market $209,900 Active 11 DOM
2. 2026-06-18
   days on market $209,900 Active 8 DOM
3. 2026-06-17
   days on market $209,900 Active 7 DOM
4. 2026-06-16
   days on market $209,900 Active 6 DOM
5. 2026-06-15
   days on market $209,900 Active 5 DOM
6. 2026-06-14
   days on market $209,900 Active 3 DOM
7. 2026-06-13
   remarks 607-char remark
8. 2026-06-13
   listed $209,900 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $615 · $51/mo
• Projected year-2 tax: $1,721 · $143/mo
• Expected delta: +$1,106/yr (+$92/mo · 179.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,375
• − Mortgage interest: −$11,758
• − Property taxes: −$615
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,630
• − Management: −$1,630
• − Depreciation: −$6,106
• Taxable loss: −$2,413
• Est. tax savings @ 24.0%: +$579
• After-tax cash flow: $1,802/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: New Hanover County Schools
• NCES district ID: 3703330
• Math proficiency: 48% ▼ -3.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $49,406
• Composite: 43.13/100
• National rank: #3081
• State rank: #61 of 178 in NC

Livability — Wilmington

• Score: 70/100
• State rank: #142
• US rank: #8131

Category grades

Amenities C- Commute F Cost of living B+ Crime F Employment C- Housing B+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wilmington, NC
• County: New Hanover County · 232,153 people
• City population: 215,355
• Metro: Wilmington, NC
• Population (ZIP): 22,007
• Household income: $57,968
• Rent vs Own: 58.9% rent · 41.1% own
• Severe rent burden: 1696.0

Population outlook (New Hanover County) Hauer SSP2

• Today (2025): 259,517 people
• By 2030: 279,586 · +7.7%
• By 2040: 318,223 · +22.6%
• By 2050: 354,831 · +36.7%
• By 2075: 437,158 · +68.5%
• By 2100: 486,769 · +87.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 52% Black 33% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Romanian 2% Serbian 2% Lithuanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 7% Other Indo-European 1%

Political lean MEDSL · New Hanover

• 2024 margin: Toss-up / Even · D 49.8% · R 49.1% · Other 1.1%
• 2008→2024 swing: +2.0pp toward D · 2008: -1.4pp · 2024: 0.6pp
• All cycles: 2024: D+0.6 2020: D+2.1 2016: R+4.1 2012: R+4.7 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -309.34%
• Current HPI: 293.4396
• Rent YoY: ▼ -0.52%
• Metro: Wilmington, NC
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

Industry mix (Fortune 500 HQ in NC)

Industry	F500 HQs	Revenue
▸Financial Services	2	$213B
▸Retail	2	$95B
▸Industrial Conglomerate	1	$38B
▸Metals / Steel	1	$35B
▸Utilities	1	$30B
▸Industrial Machinery	1	$19B

Price history

+125.7% since first listed

15 events — show timeline

• 2026-06-11 Listed $209,900 Hive MLS
• 2026-03-17 Price Changed $219,900 Hive MLS
• 2025-11-03 Price Changed $188,900 Hive MLS
• 2025-09-12 Relisted — Hive MLS
• 2025-06-18 Pending — Hive MLS
• 2025-06-18 Listing Removed — Hive MLS
• 2025-02-17 Listed $199,900 Hive MLS
• 2022-07-07 Sold (Public Records) $1,775,000 Public Records
• 2019-08-21 Listing Removed — Hive MLS
• 2019-05-10 Listed $149,900 Hive MLS
• 2019-01-14 Sold (MLS) $63,000 Hive MLS
• 2018-11-14 Listing Removed — Hive MLS
• 2018-11-02 Listed $94,000 Hive MLS
• 2018-11-02 Listed $69,000 Hive MLS
• 2007-08-02 Sold (Public Records) $93,000 Public Records

Property tax history

+0.4%/yr

Latest (2025): $615 · -53.2% YoY. Source: county tax records.