Estimated payment $3,886/month
Highlights
- Very Popular Property
- Fenced Yard
- Heating Available
- John T. Hoggard High School Rated A
- Ceiling Fan
About This Home
Welcome to 305 Macmillian Avenue, a fully renovated two-unit investment property ideally positioned in one of Wilmington's most consistent and high-demand rental corridors. Located within a two-mile radius of the University of North Carolina Wilmington, 10 minutes to Wrightsville Beach and Mayfaire, and less than 15 minutes to downtown Wilmington, this property offers a rare combination of strong in-place income, modern updates, and long-term rental appeal. The property is currently leased through August 2026 with a total gross monthly income of $4,800, providing immediate and reliable cash flow. One unit is renewing for an additional year at an increased rental rate, while the second unit is actively listed for rent, allowing flexibility for continued income growth. The home is professionally managed by a reputable local property management company, making this an ideal opportunity for an investor seeking a truly turnkey and hands-off asset. Each unit features three bedrooms and three full bathrooms, offering spacious and functional layouts that are highly desirable for both student and non-student renters alike. The property has been well maintained, allowing a new owner to step into a stabilized investment without the need for immediate improvements. The unit layouts provide consistency, ease of management, and strong long-term leasing performance. On the outside, the property offers ample gravel parking, a key feature in this area, along with additional green space at the rear of the lot that enhances functionality and outdoor appeal. With strong existing income, professional management in place, recent renovations, and a prime location, 305 Macmillian Avenue represents a compelling opportunity for investors seeking dependable cash flow, rental demand stability, and long-term appreciation in one of Wilmington's most proven rental markets.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1917
Lot Details
- Fenced Yard
- Chain Link Fence
Home Design
- Shingle Roof
- Vinyl Siding
Schools
- College Park Elementary School
- Hoggard High School
Additional Features
- Ceiling Fan
- Heating Available
Home Values in the Area
Average Home Value in this Area
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 |
|---|---|---|---|---|
| 2025 | $3,384 | $575,000 | $129,200 | $445,800 |
| 2024 | $1,792 | $206,000 | $74,100 | $131,900 |
| 2023 | $1,792 | $206,000 | $74,100 | $131,900 |
| 2022 | $1,751 | $206,000 | $74,100 | $131,900 |
| 2021 | $1,763 | $206,000 | $74,100 | $131,900 |
| 2020 | $2,270 | $215,500 | $47,900 | $167,600 |
| 2019 | $2,240 | $105,400 | $47,900 | $57,500 |
| 2018 | $1,110 | $105,400 | $47,900 | $57,500 |
| 2017 | $1,439 | $136,600 | $47,900 | $88,700 |
| 2016 | $1,170 | $105,600 | $47,900 | $57,700 |
| 2015 | $1,118 | $105,600 | $47,900 | $57,700 |
| 2014 | $1,071 | $105,600 | $47,900 | $57,700 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 11/15/2024 11/15/24 | Sold | $650,000 | 0.0% | $234 / Sq Ft | View Prior Sale |
| 10/23/2024 10/23/24 | Pending | -- | -- | -- | |
| 10/15/2024 10/15/24 | For Sale | $650,000 | -- | $234 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $650,000 | None Listed On Document | |
| Warranty Deed | $650,000 | None Listed On Document | |
| Special Warranty Deed | $57,500 | None Available | |
| Trustee Deed | $122,000 | None Available | |
| Warranty Deed | $127,500 | None Available | |
| Deed | -- | -- | |
| Deed | $38,500 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $650,000 | VA | |
| Closed | $650,000 | VA | |
| Previous Owner | $155,200 | Purchase Money Mortgage |
Source: Hive MLS
MLS Number: 100546999
APN: R05519-007-014-000
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
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
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