509 Walnut St

Wilmington, NC 28401

$364,000
Price
5
Beds
1,792 Sq. Ft.
$203 / Sq. Ft.
1,792
Sq. Ft.
$203
per Sq. Ft.
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Description

This prime real estate opportunity in Downtown Wilmington, NC features a duplex with 3 bedrooms and 1.5 bathrooms in one unit and 2 Bedroom and 1 bath in the other. . Located in a high-demand area, this property is ideal for investors seeking robust rental yields or owner-occupants looking to live in one unit while generating income from the other.This prime real estate opportunity in Downtown Wilmington, NC features a duplex with 3 bedrooms and 1.5 bathrooms in one unit and 2 Bedroom and 1 bath in the other. . Located in a high-demand area, this property is ideal for investors seeking robust rental yields or owner-occupants looking to live in one unit while generating income from the other.
  1. Listed by Jeffrey G Hovis • Brokerage DRE #C2062 • Intracoastal Realty Corp
    P: (910)-512-2205 jhovis@intracoastalrealty.com
  2. Listed by Sky Grainger • Brokerage DRE #C2062 • Intracoastal Realty Corp
    P: (910)-833-2546 sgrainger@intracoastalrealty.com

Property Details for 509 Walnut Street

Subdivision Name
Rankin Place North
View
See Remarks
Waterfront
No
Zoning
HD-R
LISTING UPDATED: 04/13/2026 03:56 PM

Property Details for 509 Walnut Street

StatusActive
MLS #100565058
Days on Market24
Taxes$1,920 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income / Duplex
Year Built1920
Lot Size0.07 AC / 3,223 SF
CountyNew Hanover County
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Location

Listing Courtesy of Intracoastal Realty Corp
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Building Information for 509 Walnut Street

Stories2Residences2Year Built1920Building Size-Lot Size0.07 AC / 3,223 SF

Payment Calculator

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$1,993 per month

30 year fixed, 6.46% Interest

Principal and Interest

$1,833

Property Taxes

$160

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 509 Walnut Street

Summary
Location and General Information
  • Island Or Mainland: Mainland
  • In City Limits: Yes
  • Secondary Subdivision: N/A
  • Cobra Zone: No
  • Directions: Traveling north on 4th st turn right onto Walnut, and the home is up a block on the left
  • Latitude: 34
  • Longitude: -78
Taxes and HOA
  • Tax Other Assessment Amount Frequency: None
  • Association: No
  • Parcel Number: R04813-034-018-000
  • Tax Block: 0
  • Tax Book Number: 0
  • Tax Legal Description: Wm 5 Wilmington Blk 222
  • Tax Map Number: R04813-034-018-000
  • Tax Assessed Value: $326,300
  • Tax Year: 2025
School Information
  • Elementary School: Snipes
  • High School: New Hanover
  • Middle Or Junior School: Williston
Parking
  • Detached Garage Spaces: 0.0
  • Attached Garage Spaces: 0.0
  • Attached Garage: No
  • Carport Spaces: 0.0
  • Parking Total: 0.0
  • Parking Features: On Street
Property
Lot Information
  • Building Area Total: 1792.0
  • Frontage Type: See Remarks
  • Lot Size Acres: 0.07
  • Lot Size Area: 0.07
  • Lot Size Square Feet: 3223.0
  • Lot Size Dimensions: 66 x 49
  • Lot Size Units: Acres
  • Structure Type: Wood Frame
Property and Assessments
  • Deed Book: 6488
  • Deed Page: 698.0
  • Floor Plans Count: 0
  • New Construction: No
  • Possession: Subject To Tenant Rights
  • Property Sub Type: Duplex
  • Property Type: Residential Income
  • Year Built: 1920
  • Permitted Use: Public
Utilities
  • Sewer Provider: Municipal Sewer, Cape Fear Public Utility Authority
  • Electric Provider: Duke Progress Energy
  • Trash Provider: City of Wilmington
  • Water Provider: Cape Fear Public Utility Authority
  • Utilities: Electricity Connected, Sewer Connected, Water Connected
  • Water Source: Public
Interior and Exterior Features
Exterior Features
  • Exterior Finish: Aluminum Siding
  • Construction Materials: Aluminum Siding, Wood Frame
  • Fencing: Back Yard
  • Foundation Details: Crawl Space
  • Patio And Porch Features: Covered, Front Porch
  • Roof: Shingle
  • Stories Total: 2
Interior Features
  • Bathrooms Total Source: MLS
  • Bathrooms Total Decimal: 2.0
  • Bathrooms Total Notational: 2.0
  • Attic Features: Access Only
  • Heating System Fuel Source: Electric
  • Laundry Location: Hookup - Dryer, Hookup - Washer
  • Appliances: Electric Oven, Refrigerator
  • Bathrooms Total Integer: 2
  • Bedrooms Total: 5
  • Basement: None
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes
  • Flooring: LVT/LVP, Tile
  • Heating: Yes
  • Heating: Baseboard, Electric
  • Interior Features: Ceiling Fan(s)
  • Laundry Features: Dryer Hookup, Washer Hookup
  • Levels: Two
  • Room Type: Dining Area
Multi Family
Multi Family Information
  • Furnished: Unfurnished
  • Number Of Units In Community: 2
  • Number Of Units Total: 2
Income & Expenses
  • Gross Income: $28,560
  • Operating Expense: $3,887.00
Mobile Home
Mobile Home Information
  • Park Manager Name: No
Unit Information
Unit 1
  • Unit Type Area: 850.0
  • Unit Type Num Full Baths: 1
  • Unit Type Num Half Baths: 0
  • Unit Type Occupant Type: Occupied
  • Unit Type Actual Rent: 880.0
  • Unit Type Beds Total: 2
  • Unit Type Furnished: Unfurnished
Unit 2
  • Unit Type Area: 1005.0
  • Unit Type Num Full Baths: 1
  • Unit Type Num Half Baths: 1
  • Unit Type Occupant Type: Occupied
  • Unit Type Actual Rent: 1500.0
  • Unit Type Beds Total: 3
  • Unit Type Furnished: Unfurnished
Agent
Sale and Listing
  • Sold Exclusive: No
Rental
Rent Information
  • Occupancy Rate: 100.00%

Property History for 509 Walnut Street

DateEvent & SourcePriceAppreciation
Apr 5, 2026

Listed (Active)

NCRMLS #100565058

$364,000—
DateEvent & SourcePrice
04/05/2026

Listed (Active)

NCRMLS #100565058

$364,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 509 Walnut Street

Taxable ValueLand$95,800Additions$230,500Total$326,300
Tax Record2025$1,920 ($160 / month)
Home Facts
Baths2Total Finished SqFt1,792 SqFtAbove Grade Finished SqFt1,792 SqFtStories2Lot Size3,223 SqFtStyleDuplexYear Built1920ZoningHD-RCountyNEW HANOVERAPNR04813-034-018-000

Schools near 509 Walnut Street

This home is within New Hanover County School District.
Rating
School
Type
Grades
Distance
Annie H Snipes Elementary
Public - K to 5
Williston Middle
Public - 6 to 8
New Hanover High
Public - 9 to 12
D.C. Virgo Preparatory Academy
Public - 6 to 8
Rating
School
Distance
Annie H Snipes Elementary
PublicK to 5

Williston Middle
Public6 to 8

New Hanover High
Public9 to 12

D.C. Virgo Preparatory Academy
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 509 Walnut Street, Wilmington, NC 28401

509 Walnut Street is a multi-family home for sale in Wilmington, NC 28401. This property was listed for sale on April 5, 2026 by Intracoastal Realty Corp, it's currently listed at $364,000. This listing's school district is New Hanover County School District. Nearby schools include Annie H Snipes Elementary, Williston Middle and New Hanover High. 509 Walnut Street is a 5-bed, 2-bath, 1,792 sqft multi-family home built in 1920.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Intracoastal Realty Corp

The data relating to real estate on this web site comes in part from the Internet Data Exchange program of Hive MLS, and is updated as of 04/13/2026 03:56 PM. 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 Compass or its subsidiaries, affiliates and their agents and associated third parties 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. © 2026 Hive MLS