NOT LISTED FOR SALE

5503 Myrtle Grove Wilmington, NC 28409

Intracoastal Waterway Neighborhood

Estimated Value: $215,000 - $263,916

14 Acres
$17,141 Price per Acre
609,840 Sq Ft Lot

Last Sold August 16, 2023

Last sale price $1,900,000

Current estimated payment $1,416/month

32 Days on Market

About This Lot

As of August 2023

14+/- Acres now available for purchase on Myrtle Grove Road. This multi-parcel opportunity includes the locally renowned workshop of T.N Simmons, founder of the famed Simmons Sea Skiff. Tract includes (6) parcels providing approximately 14 Acres and 547Ft of direct frontage along Myrtle Grove Road. Existing structures: 3BR/1BA residential dwelling; 2BR/1BA residential dwelling; Three woodworking shops; One glassmaker shop. Total existing leases gross over $50,000 annually. New Hanover County Zoning is currently R-15. Maximum development yield may be achieved through NHC ''performance residential'', allowing 2.5 Units per Acre.

Last Listed By

Team Hardee Hunt & Williams

Hardee Hunt & Williams Listed on: 03/24/2023

Property Details

Property Type

  • Land

Est. Annual Taxes

  • $944

Year Built

  • 1934

Lot Details

  • 14 Acre Lot
  • Cleared Lot
  • Property is zoned R-15

Schools

  • Bellamy Elementary School
  • Myrtle Grove Middle School
  • Ashley High School

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Assessor Parcel Number R07616-003-002-001

Property Details

Property Type

Land

Est. Annual Taxes

$944

Year Built

1934

Lot Details

0

Listing Details

  • Property Type: Land
  • Sub Type: Residential Land
  • Cobra Zone: No
  • Road Frontage Type: See Remarks
  • Special Features: None
  • Property Sub Type: LotsLands
  • Year Built (Public Record): 1934

Exterior Features

  • Road Type Frontage: Public (City/Cty/St)
  • Waterfront: No
  • Waterview: No
  • Total Road Frontage: 547

Utilities

  • Fuel Tank: None

Association/Amenities

  • HOA: No
  • HOA and Neighborhood Amenities: No Amenities

Lot Info

  • Deed Page: 56.00
  • Lot Dimensions: Various
  • Lot Sq Ft: 609840.00
  • Zoning: R-15
  • Acres: 14.00
  • Deed Restriction: No
  • Environmental Hazard: Unknown
  • List Price per Acre: 156428.57
  • Soil Evaluation: Soil Evaluation - No
  • Topography: Cleared/Partial

Tax Info

  • Tax Identifier: R07616-003-002-001
  • Tax Year: 2023

MLS Schools

  • Elementary School: Bellamy
  • High School: Ashley
  • Middle School: Myrtle Grove

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 4, 2024
Sold by
Storehouse Holdings Llc
Bought by
Elders Lisa Howard and Tallent Robbie
Total Days on Market
32
Current Estimated Value
$239,979

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$148,500
Outstanding Balance
$146,676
Interest Rate
7.22%
Mortgage Type
New Conventional
Estimated Equity
$93,303

Purchase Details

Listed on
Mar 24, 2023
Closed on
Aug 10, 2023
Sold by
Simmons Landing Llc
Bought by
Storehouse Holdings Llc
Seller's Agent
Team Hardee Hunt & Williams
Hardee Hunt & Williams
Buyer's Agent
Tyler Broughton
Prosper Real Estate
List Price
$2,190,000
Sold Price
$1,900,000
Premium/Discount to List
-$290,000
-13.24%
Views
119

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-70.18%
Original Mortgage
$2,052,000
Interest Rate
6.81%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 15, 2021
Sold by
Batts Amanda Brittany and Batts Jonathan Hugh
Bought by
Simmons Landing Llc

Purchase Details

Closed on
Sep 22, 1977
Sold by
Simmons Lillian E
Bought by
Russ Denver C Doris A

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Elders Lisa Howard $198,000 None Listed On Document
Storehouse Holdings Llc $1,900,000 None Listed On Document
Simmons Landing Llc $190,000 None Available
Russ Denver C Doris A -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Elders Lisa Howard $148,500
Previous Owner Storehouse Holdings Llc $2,052,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/16/2023 08/16/23 Sold $1,900,000 -13.2% --
04/25/2023 04/25/23 Pending -- -- --
03/24/2023 03/24/23 For Sale $2,190,000 -- --
Source: Hive MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2023 $944 $166,600 $112,700 $53,900
2022 $947 $166,600 $112,700 $53,900
2021 $282 $166,600 $112,700 $53,900
2020 $369 $116,600 $56,300 $60,300
2019 $369 $116,600 $56,300 $60,300
2018 $0 $116,600 $56,300 $60,300
2017 -- $116,600 $56,300 $60,300
2016 $385 $111,200 $53,400 $57,800
2015 $358 $111,200 $53,400 $57,800
2014 $352 $111,200 $53,400 $57,800
Source: Public Records

Agents Affiliated with this Home

  • Team Hardee Hunt & Williams

    Seller's Agent in 2023

    Team Hardee Hunt & Williams

    Hardee Hunt & Williams

    (910) 256-6998

    3 in this area

    184 Total Sales

    Team Hardee Hunt & Williams
    Section Image

  • T

    Buyer's Agent in 2023

    Tyler Broughton

    Prosper Real Estate

    (910) 352-7957

    4 in this area

    74 Total Sales

    Tyler Broughton
    Section Image
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Map

Source: Hive MLS

MLS Number: 100375774

Hive MLS

APN: R07616-003-002-001

North Carolina New Hanover County Wilmington 28409 Intracoastal Waterway

5503 Myrtle Grove, Wilmington, NC

Homes for Sale in Wilmington, NC

This home is located at 5503 Myrtle Grove, Wilmington, NC 28409 since 24 March 2023 and is currently estimated at $239,979. This property was built in 1934. 5503 Myrtle Grove is a home located in New Hanover County with nearby schools including Heyward C. Bellamy Elementary School, Myrtle Grove Middle School, and Eugene Ashley High School.

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Hive MLS The data relating to real estate on this web site comes in part from the Internet Data Exchange program of Hive MLS LLC. All information is deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Homesnap, Inc. shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. ©2025 Hive MLS LLC