503 Woodlawn Avenue, Wilmington, NC, 28401
About This Home
A rare entry level opportunity in Wilmington is here. Nestled on nearly a half-acre just moments from Greenfield Lake, this cottage-style home offers the chance to move right in while adding your own updates over time. Whether you're a first-time buyer, investor, or someone looking to build equity through improvements, the location and potential are hard to match at this price. Enjoy being just 0.3 miles from Greenfield Lake's trails, amphitheater and outdoor recreation, 0.2 miles from Legion Stadium, minutes to downtown Wilmington's restaurants, breweries and shopping, and approximately 25 minutes from some of southeastern North Carolina's most beautiful beaches. Recent improvements include cement board siding and replacement windows (2020), roof (2016 per prior owner), and HVAC system (2016 per prior owner). The main level offers approximately 935 heated square feet with two bedrooms, dining room, kitchen and full bath. Two additional finished rooms are located upstairs but are not included in the heated square footage due to ceiling height slightly under 7' and stair configuration. Buyers are encouraged to verify any intended uses or future modifications with appropriate professionals and local building authorities. Opportunities like this, with this much land and this location, don't come along often. Schedule your showing today and see the potential for yourself.
Getting Around
Somewhat Walkable
Some Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1944
Materials
- Foundation: Crawl Space
- Roof: Composition
- Construction materials: Fiber Cement,Wood Frame
Type & Style
- Home type: SingleFamily
- Property subType: Single Family Residence
Interior
Appliances
- Appliances included: Refrigerator,Dishwasher,Electric Range
- Laundry features: Dryer Hookup,Washer Hookup,Laundry Room
Bedroom2
- Level: First
Bedrooms & Bathrooms
- Bedrooms: 2
- Bathrooms: 1
- Full bathrooms: 1
Dining Room
- Level: First
Features
- Master Downstairs
- Flooring: Laminate,Tile,Vinyl
- Attic: Storage
Heating & Cooling
- Heating features: Electric,Forced Air
- Cooling features: Central Air
Interior Area
- Total structure area: 935
- Total interior livable area: 1,235 sqft
Kitchen
- Level: First
Laundry
- Level: First
Living Room
- Level: First
Master Bedroom
- Level: First
Property
Details
- Parcel number: R06009004022000
- Zoning: R-7
- Special condition: Standard
Features
- Levels: One and One Half
- Patio & porch: Covered,Deck,Front Porch
- Fencing: None
- Has view: Yes
- View description: None
- Frontage type: See Remarks
- Living area range: 800 - 999
Lot
- Lot size: 0.38 Acres
- Features: Wooded
- Lot size dimensions: Irregular
Parking
- Parking features: Unpaved,Off Street
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Coastal Flooding
- Hurricane
- Ice Storm
- Lightning
- Winter Weather
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters in New Hanover County and North Carolina
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $1,163 | $13,956 |
| Home Insurance * | $64 | $768 |
| Property Taxes | $107 | $1,284 |
| Electricity | $200 | $2,405 |
| Total | $1,534 | $18,408 |
Income You'd Need if You Spent...
North Carolina FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-08-13 | Pending sale | $230,000 |
| 2026-08-13 | Contingent | $230,000 |
| 2026-07-24 | Listed for sale | $230,000 |
| 2022-12-04 | Listing removed | -- |
| 2022-11-22 | Listed for rent | $1,700 |
| 2020-10-02 | Sold | $132,000 |
| 2020-08-13 | Pending sale | $150,000 |
| 2020-08-10 | Price change | $150,000 |
| 2020-07-22 | Listed for sale | $165,000 |
| 2020-04-16 | Sold | $130,000 |
| 2020-04-13 | Listed for sale | $136,400 |
| 2020-03-31 | Pending sale | $136,400 |
| 2020-03-25 | Listed for sale | $136,400 |
| 2020-03-04 | Sold | $92,000 |
| 2013-04-08 | Sold | $85,000 |
| 2012-08-01 | Price change | $110,000 |
| 2012-06-15 | Price change | $119,000 |
| 2012-03-07 | Listed for sale | $121,900 |
For Sale by Agent
View on Zillow