Score
0Wilmington, NC
214 Shorewood Hills Drive
365K
3 beds
1 baths
1,361 sqft
3 bd • 1 ba • 1,361 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$365,000
Price/Sq.Ft
$268
Year Built
1962
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This 1962-built single-family residence at 214 Shorewood Hills Drive, Wilmington, NC offers excellent value at $268.19/sqft, which is approximately 20% below the median price of $335/sqft for similar homes in the area. The property boasts a spacious 1,361 sqft layout with 3 bedrooms, ideal for small families or as an investment opportunity. Its location is a significant asset, being just a few streets from Trails End public boat ramp, 4 miles from Monkey Junction, 8.6 miles from Wrightsville Beach, and 10 miles from Carolina Beach, offering diverse recreational options.
The home has several valuable upgrades: a whole house generator (estimated value $7,000-$10,000), vapor barrier with dehumidifier in the crawlspace (approximately $3,000-$5,000 value), and sealed ductwork. The HVAC unit was replaced in 2022 (estimated value $5,000-$7,000) and has been serviced yearly, indicating good maintenance. The property is under Termite Bond, providing additional peace of mind.
The climate risk profile is favorable, with minimal flood risk (1/10) and minor fire risk (2/10), potentially leading to lower insurance costs. The home is connected to CFPUA (Cape Fear Public Utility Authority), eliminating concerns about well water quality or septic system maintenance.
Educationally, the property is zoned for highly-rated schools, including Walter L Parsley Elementary (9/10 rating) just 1 mile away, which can positively impact property value and attract families.
The Bad
The property has only one bathroom, which is below the standard for a 3-bedroom home and may limit its appeal. At 1,361 sqft, it's smaller than the median size for homes in the area (approximately 1,500-1,600 sqft). The house is being sold "AS IS," which suggests potential undisclosed issues or needed repairs.
The property has been on the market for 55 days, which is above the average days on market for Wilmington (typically 30-45 days), indicating possible overpricing or buyer hesitation. The price has been reduced three times since listing, from $375,000 to the current $365,000, suggesting initial overpricing.
The estimated insurance cost of $1,314/year is relatively high for a property of this value, likely due to the extreme wind risk (9/10) in the area. This could significantly increase the total cost of ownership.
The Ugly
The extreme heat risk (9/10) and wind risk (9/10) pose significant challenges. With 7 extremely hot days per year and 98th percentile temperatures reaching 103°F, cooling costs could be substantial. The high wind risk necessitates critical insurance coverage, which could lead to increasing premiums over time.
The property's age (built in 1962) suggests potential major system replacements may be needed soon. While the HVAC is new, other systems like plumbing, electrical, and roofing may be nearing the end of their lifespan. The presence of unused baseboard heaters and a decommissioned septic system indicates a history of significant changes, which could hint at other hidden issues.
The "blank slate" nature of the home, while appealing to some, suggests it may need comprehensive renovations. This could easily add $30,000-$50,000 or more to the total investment, depending on the extent of updates required.
The single bathroom for a 3-bedroom home is a significant drawback and could cost $15,000-$25,000 to add an additional bathroom, impacting the property's overall value proposition.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for:
1. First-time homebuyers with a household income around $80,000-$90,000 (based on a 28% front-end DTI ratio), who are willing to invest sweat equity into renovations.
2. Investors looking for a potential rental property. With median 3-bedroom rental rates at $1,990/month in the area, this could yield a gross rental yield of about 6.5% before expenses.
3. DIY enthusiasts or contractors who can leverage their skills to increase the property's value through renovations.
4. Small families or couples who prioritize location over modern amenities and are comfortable with a single bathroom.
5. Buyers looking for a vacation home near beaches and waterways, willing to accept some compromises on interior features for the sake of location.
Not For
This property is not suitable for:
1. Larger families needing more than 3 bedrooms or multiple bathrooms.
2. Buyers seeking a move-in ready home without the need for renovations or updates.
3. Individuals with limited mobility or those who require single-level living, as the layout may include stairs (typical for homes of this era).
4. Luxury home buyers or those seeking modern, high-end finishes.
5. Investors looking for immediate high-end rental income without additional investment.
6. Buyers with a low tolerance for climate-related risks, particularly extreme heat and wind.
7. Those unable or unwilling to budget for potentially significant renovation and upgrade costs in the near future.
Demographics
Area Median Income
$95,772
Property History
Price History
Ownership Timeline
Property Taxes
$1,247
2023 Tax Assessment
0.6%from previous year
Assessed Value$147,600
Tax Rate0.85%
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
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Schools
Nearby school quality by education level
Middle
6.0/10
GoodHigh
7.0/10
GoodFinancials
Monthly Costs
Market Rent (3 bed)
Get a detailed estimate on Zillow$1,020
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$365,000
Price/sqft
$268
Layout
3 bd•1 ba
Days on market
56 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$359,167
1.6%
Your price is 1.6% above average
Median Price
$374,000
2.4%
Based on 6 recent sales
Price per Sq.Ft
$281
4.6%
Your price is 4.6% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 136 Shorewood Hills Drive, Wilmington, NC 28409 | $435,000 | 1,375 | 3 | 2 | $31618.0% | 10/18/2024 |
| 102 Mohican Trail, Wilmington, NC 28409 | $374,000 | 1,174 | 3 | 2 | $31918.8% | 10/16/2024 |
| 138 Navaho Trail, Wilmington, NC 28409 | $251,000 | 1,290 | 3 | 2 | $19527.4% | 9/6/2024 |
| 537 Kelly Road, Wilmington, NC 28409 | $370,000 | 1,342 | 3 | 2 | $2762.8% | 8/15/2024 |
| 116 Shorewood Hills Drive, Wilmington, NC 28409 | $410,000 | 1,375 | 3 | 2 | $29811.2% | 8/4/2024 |
| 3321 Shelter Sound Court, Wilmington, NC 28409 | $315,000 | N/A | N/A | N/A | N/A | 8/23/2024 |
136 Shorewood Hills Drive, Wilmington, NC 28409
Price: $435,000
Sq.Ft: 1,375
Beds/Baths: 3/2
$/Sq.Ft:
$31618.0%
Sale Date: 10/18/2024
102 Mohican Trail, Wilmington, NC 28409
Price: $374,000
Sq.Ft: 1,174
Beds/Baths: 3/2
$/Sq.Ft:
$31918.8%
Sale Date: 10/16/2024
138 Navaho Trail, Wilmington, NC 28409
Price: $251,000
Sq.Ft: 1,290
Beds/Baths: 3/2
$/Sq.Ft:
$19527.4%
Sale Date: 9/6/2024
537 Kelly Road, Wilmington, NC 28409
Price: $370,000
Sq.Ft: 1,342
Beds/Baths: 3/2
$/Sq.Ft:
$2762.8%
Sale Date: 8/15/2024
116 Shorewood Hills Drive, Wilmington, NC 28409
Price: $410,000
Sq.Ft: 1,375
Beds/Baths: 3/2
$/Sq.Ft:
$29811.2%
Sale Date: 8/4/2024
3321 Shelter Sound Court, Wilmington, NC 28409
Price: $315,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 8/23/2024
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