720 N 11th St · Wilmington, NC 28401

$169,900

2 bd · 1.0 ba · 996 sqft · SingleFamily public records · 138 Days on market

Built 1920 2,309 sqft lot Est $298k · 43% under

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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 +24.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +5.0/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity -2 bedrooms, 1 bath. Just needs some TLC!! Tenant occupied-

Key facts

• 2,309 sq ft lot
• Built 1920
• Listed 138 days

Property features AI

Finance

• Other: Located in the Brooklyn subdivision
• HOA & community: No association amenities

Exterior

• Parking: On-street parking
• Utilities: Public water; Sewer available; Water available
• Home design: Single-family residence; One level; Wood siding exterior; Metal roof; Located on city street and state road; Zoned R-3; Lot dimensions approximately 33 x 66 (0.05 acres)
• Construction: Wood siding construction
• Exterior features: Porch

Interior

• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating with heat pump; Central air conditioning
• Interior features: No fireplace; Crawl space basement

🏷️ Possibly a rental listed for sale. The $169,900 price doesn't fit this home's estimated sale value (~$297,804) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $332 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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); 279 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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

• It's been on market 138 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 17y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $170k implies a 161% gain — meaningful room to come down on a strong offer.

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 $149,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.00% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.38%
• DSCR: 1.37
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $297,804
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
836 Fanning St	0.17mi	3/1.0 (+1)	1,013 (+2%)	2mo	$120,000	$118	83
1011 Rankin St	0.19mi	2/2.0	1,039 (+4%)	4mo	$265,000	$255	77
908 Campbell St	0.19mi	2/1.0	1,100 (+10%)	3mo	$225,000	$205	71
209 Mcrae St	0.47mi	3/2.0 (+1)	993 (-0%)	1mo	$350,000	$352	68
1101 Chestnut St	0.38mi	2/1.0	1,126 (+13%)	3mo	$223,275	$198	58
320 N 19th St	0.64mi	2/2.0	960 (-4%)	3mo	$289,000	$301	58
1115 Grace St	0.30mi	3/2.0 (+1)	1,139 (+14%)	1mo	$340,000	$299	52
504 Peabody Aly	0.52mi	2/2.0	900 (-10%)	4mo	$290,000	$322	52
112 Magnolia St	0.68mi	2/1.0	912 (-8%)	5mo	$280,000	$307	50
118 S 13th St	0.69mi	3/2.0 (+1)	1,048 (+5%)	2mo	$300,000	$286	49
113 S 8th St	0.72mi	2/2.0	1,092 (+10%)	4mo	$367,050	$336	43
123 S 10th St	0.72mi	3/2.0 (+1)	1,080 (+8%)	3mo	$260,000	$241	41

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: -6.7%
• Equity multiple: 0.76×
• Total profit: $-11,430
• Equity at exit: $25,333

10-year hold

• IRR: -0.8%
• Equity multiple: 0.95×
• Total profit: $-2,268
• Equity at exit: $14,690

Cash invested: $47,572 (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: 279
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,700 high
• Mortgage (P&I): −$891
• Tax from tax record: −$49 /mo · $590/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $332

Break-even live

Break-even rent $1,280

Max offer price $169,900

Occupancy floor 75%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
709 N 11th St Wilmington, NC	2.0	1.0	800	$1,475	$1.84	21d	1	0.05mi
710 Taylor St Unit D Wilmington, NC	2.0	2.0	885	$1,395	$1.58	13d	1	0.57mi
814 N 3rd St Wilmington, NC	2.0	2.0	1009	$1,692	$1.68	13d	3	0.68mi
524 N 2nd St Wilmington, NC	2.0	2.0	1000	$1,450	$1.45	21d	1	0.73mi
420 Market St Wilmington, NC	1.0–3.0	1.0	935	$1,425	$1.52	13d	1	0.77mi
1904 Perry Ave Wilmington, NC	2.0	1.0	1017	$2,500	$2.46	21d	1	0.81mi
1045 N Front St Wilmington, NC	1.0–3.0	1.0–2.0	1107	$2,190	$1.98	13d	19	0.88mi
1015 Nutt St Wilmington, NC	1.0–2.0	1.0–2.0	934	$2,150	$2.30	13d	28	0.91mi
901 Nutt St Wilmington, NC	3.0	1.0–3.0	1112	$4,374	$3.93	13d	24	0.93mi
10 Grace St #302 Wilmington, NC	1.0	1.0	600	$2,200	$3.67	21d	1	0.94mi
14 Grace St Wilmington, NC	1.0–2.0	1.0–2.0	1041	$2,347	$2.25	13d	3	0.95mi
19 Harnett St Wilmington, NC	2.0	1.0–2.0	832	$3,709	$4.46	13d	18	0.95mi
418 S 8th St Wilmington, NC	2.0	1.0	873	$2,200	$2.52	13d	1	0.98mi
919 Castle St Wilmington, NC	1.0	1.0	578	$1,200	$2.08	13d	1	1.04mi
919 Castle St Wilmington, NC	2.0	2.0	688	$1,375	$2.00	21d	1	1.04mi
1704 Church St Wilmington, NC	2.0	2.0	830	$1,475	$1.78	21d	1	1.04mi
1704 Church St Wilmington, NC	1.0	1.0	525	$1,275	$2.43	13d	1	1.04mi
1704 Church St Unit 310 Wilmington, NC	1.0	1.0	525	$1,250	$2.38	21d	1	1.04mi
1124 Castle St Unit 206 Wilmington, NC	1.0	1.0	598	$1,350	$2.26	21d	1	1.05mi
1124 Castle St Unit 201 Wilmington, NC	1.0	1.0	686	$1,475	$2.15	21d	1	1.05mi
1108 Castle St Unit C Wilmington, NC	1.0	1.0	625	$1,375	$2.20	21d	1	1.05mi
1108 Castle St #106 Wilmington, NC	2.0	2.0	900	$1,625	$1.81	21d	1	1.05mi
1108 Castle St #112 Wilmington, NC	1.0	1.0	750	$1,500	$2.00	21d	1	1.05mi
1102 Castle St Unit 201 Wilmington, NC	2.0	2.0	748	$1,450	$1.94	13d	1	1.06mi
1102 Castle St #306 Wilmington, NC	1.0	1.0	587	$1,325	$2.26	21d	1	1.06mi
1102 Castle St Unit 202 Wilmington, NC	1.0	1.0	587	$1,300	$2.21	21d	1	1.06mi
607 S 11th St Unit 208 Wilmington, NC	2.0	2.0	960	$1,585	$1.65	13d	1	1.06mi
422 S 3rd St Wilmington, NC	2.0	1.0	734	$1,550	$2.11	13d	1	1.17mi
715 S 13th St Wilmington, NC	3.0	2.0	936	$2,300	$2.46	21d	1	1.18mi
618 S 3rd St #2 Wilmington, NC	2.0	2.0	1000	$1,750	$1.75	21d	1	1.31mi
505 Alpine Dr Wilmington, NC	1.0–3.0	1.0–2.0	1009	$1,454	$1.44	13d	9	1.45mi
2603 McClammy St Unit 1 Wilmington, NC	3.0	1.0	1082	$1,900	$1.76	21d	1	1.47mi
331 S Turners Run Wilmington, NC	1.0–3.0	1.0–2.0	905	$1,167	$1.29	21d	1	1.50mi

Listing history 33 events

1. 2026-06-18
   days on market $169,900 Active 138 DOM
2. 2026-06-17
   days on market $169,900 Active 137 DOM
3. 2026-06-16
   days on market $169,900 Active 136 DOM
4. 2026-06-15
   days on market $169,900 Active 135 DOM
5. 2026-06-14
   days on market $169,900 Active 133 DOM
6. 2026-06-13
   days on market $169,900 Active 132 DOM
7. 2026-06-10
   days on market $169,900 Active 130 DOM
8. 2026-06-09
   days on market $169,900 Active 129 DOM
9. 2026-06-08
   days on market $169,900 Active 128 DOM
10. 2026-06-07
    days on market $169,900 Active 127 DOM
11. 2026-06-05
    days on market $169,900 Active 124 DOM
12. 2026-06-03
    days on market $169,900 Active 123 DOM
13. 2026-06-03
    days on market $169,900 Active 122 DOM
14. 2026-06-01
    days on market $169,900 Active 120 DOM
15. 2026-05-30
    days on market $169,900 Active 380 DOM
16. 2025-11-03
    price $169,900
17. 2025-09-12
    status Active
18. 2025-06-18
    status Pending
19. 2025-03-22
    historical $1,600
20. 2025-02-18
    listed $179,900 Active
21. 2025-02-14
    listed $1,600
22. 2024-03-17
    historical $1,550
23. 2024-03-13
    listed $1,550
24. 2024-01-27
    historical $1,650
25. 2024-01-20
    listed $1,650
26. 2019-09-26
    soldstatus $65,000 89-char remark

    Show marketing remark (89 chars)

    Great investment opportunity -2 bedrooms, 1 bath. Just needs some TLC!! Tenant occupied-

27. 2019-09-26
    soldstatus $65,000

    Show marketing remark (89 chars)

    Great investment opportunity -2 bedrooms, 1 bath. Just needs some TLC!! Tenant occupied-

28. 2019-09-26
    soldstatus $65,000

    Show marketing remark (89 chars)

    Great investment opportunity -2 bedrooms, 1 bath. Just needs some TLC!! Tenant occupied-

29. 2019-08-08
    listed $69,000 89-char remark

    Show marketing remark (89 chars)

    Great investment opportunity -2 bedrooms, 1 bath. Just needs some TLC!! Tenant occupied-

30. 2009-11-09
    soldstatus $49,900 78-char remark

    Show marketing remark (78 chars)

    Currently rented for $500 per month. Renovations and new construction in area.

31. 2009-11-09
    soldstatus $50,000

    Show marketing remark (78 chars)

    Currently rented for $500 per month. Renovations and new construction in area.

32. 2009-08-22
    listed $49,900 78-char remark

    Show marketing remark (78 chars)

    Currently rented for $500 per month. Renovations and new construction in area.

33. 1983-04-01
    soldstatus $8,500

ⓘ 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: $590 · $49/mo
• Projected year-2 tax: $1,393 · $116/mo
• Expected delta: +$803/yr (+$67/mo · 136.2%)

ⓘ 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: $20,402
• − Mortgage interest: −$9,517
• − Property taxes: −$590
• − Insurance: −$850
• − Repairs & maintenance: −$1,632
• − Management: −$1,632
• − Depreciation: −$4,943
• Taxable income: $1,239
• Est. tax owed @ 24.0%: −$297
• After-tax cash flow: $3,689/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

+1898.8% since first listed

18 events — show timeline

• 2025-11-03 Price Changed $169,900 Hive MLS
• 2025-09-12 Relisted — Hive MLS
• 2025-06-18 Pending — Hive MLS
• 2025-03-22 Rental Removed $1,600 APPFOLIO
• 2025-02-18 Listed $179,900 Hive MLS
• 2025-02-14 Listed for Rent $1,600 APPFOLIO
• 2024-03-17 Rental Removed $1,550 APPFOLIO
• 2024-03-13 Listed for Rent $1,550 APPFOLIO
• 2024-01-27 Rental Removed $1,650 APPFOLIO
• 2024-01-20 Listed for Rent $1,650 APPFOLIO
• 2019-09-26 Sold (Public Records) $65,000 Public Records
• 2019-09-26 Sold (Public Records) $65,000 Public Records
• 2019-09-26 Sold (MLS) $65,000 Hive MLS
• 2019-08-08 Listed $69,000 Hive MLS
• 2009-11-09 Sold (Public Records) $50,000 Public Records
• 2009-11-09 Sold (MLS) $49,900 Hive MLS
• 2009-08-22 Listed $49,900 Hive MLS
• 1983-04-01 Sold (Public Records) $8,500 Public Records

Property tax history

+0.4%/yr

Latest (2025): $590 · -43.4% YoY. Source: county tax records.