CompCasa valuation analysis

Estimated market value

$300,000

Low $275,000 · Midpoint $300,000 · High $325,000

Confidence82%Sales comparison approach

Last recorded sale$200,000Jun 15, 2015

Assessed value$225,0002025 assessment

CompCasa estimate$300,000Mar 5, 2026

Estimate vs. last recorded sale+$100,000 / +50.0%

$275,000$300,000 midpoint$325,000

Price / sq ft$200

Median sale price$290,000

Avg days on market30 days

Inventory2.5 months

Sales comparison approach using 3 comparable sales within 0.5 miles sold in last 6 months. Adjusted for updates, lot size, and bedroom count. Assessed value of $225K appears below market.

About the property

Charming Updated Ranch in Lancaster Heights — Spacious Yard

Step into a sunlit ranch at 337 Lancaster Road and feel the calm of Lancaster Heights. Morning light pours through the kitchen windows and warms the well-maintained hardwood floors that run through the main living areas. The single-story layout—three comfortable bedrooms and two updated baths—creates an easy, everyday flow where coffee, conversation and weekend plans come naturally.

The heart of the home is an updated kitchen that blends modern convenience with classic charm; it opens to the living space so preparing meals never feels separate from family life. Thoughtful renovations and recent systems work make day-to-day living low-maintenance—the HVAC was replaced in 2023, and bathrooms have been refreshed to complement the home’s original character. The asphalt-shingle roof and other original elements contribute to the home’s solid, grounded feel; prospective buyers should note a roof assessment is recommended as part of routine due diligence.

Outside, the 0.23-acre lot is a quiet retreat with mature trees and level lawn space for gardening, play, or backyard gatherings. A 2-car driveway provides straightforward parking, and the 50-foot frontage on Lancaster Road gives the property an open, friendly presence on the block. On Saturday mornings, stroll the neighborhood and feel the relaxed pulse of a community that’s family-oriented and connected.

Location is a key part of the appeal: Hugh MacRae Park is about 1.2 miles away for trails and green space, Independence Mall is a quick drive for shopping, and Wrightsville Beach and downtown Wilmington are easily accessible when you crave ocean air or evening dining. Highly rated schools—Masonboro Elementary, Roland-Grise Middle, and Hoggard High—add to the family-friendly case for this neighborhood.

Well-maintained, thoughtfully updated and perfectly sited for both daily routines and weekend escapes, this ranch presents a rare combination of classic single-story living and modern conveniences. With strong neighborhood appreciation and nearby amenities, 337 Lancaster Road is a home that invites you to move in and start living the Wilmington lifestyle right away.

Comparable evidence

See the properties helping shape the valuation.

Comparable sales

01Sold price$312,000

Property address305 Lancaster Rd, Wilmington, NC 28409

3 bed2 bath1,500 sq ftBuilt 19700.1 mi10,000 sq ft lot$208/SF

Sold Jul 20, 2025

Subject difference

Same living area
Similar lot size
Same year built

Research comparison noteSimilar size and condition, recent updates

02Sold price$295,000

Property address250 Lancaster Rd, Wilmington, NC 28409

3 bed2 bath1,500 sq ftBuilt 19700.2 mi10,000 sq ft lot$197/SF

Sold May 18, 2022

Subject difference

Same living area
Similar lot size
Same year built

Research comparison noteComparable size and condition, updated kitchen

03Sold price$249,500

Property address209 Lancaster Rd, Wilmington, NC 28409

4 bed1.5 bath1,276 sq ftBuilt 19700.3 mi13,416 sq ft lot$196/SF

Sold Sep 18, 2025

Subject difference

224 SF smaller
1 additional bedroom
0.5 fewer bathrooms
3,416 SF larger lot
Same year built

Research comparison noteSlightly smaller, additional bedroom, larger lot

Comp methodology: Focused on ranch-style homes within 0.5 miles in Lancaster Heights sold in last 6 months for maximum relevance

Property details

A 1970 ranch on 0.23 acres.

Building

Year built1970

ConstructionWood Frame

RoofAsphalt Shingle

Heatingforced air electric

Coolingcentral AC

Site & utilities

Lot size0.23 acres

Garagenone

Stories1

ConditionGood

BasementNone

FireplaceNo

Improvement notes3 bedrooms, 2 bathrooms, hardwood floors, updated kitchen and bathrooms, new HVAC system (2023)

Lot area10,000 sq ft

TopographyLevel

Frontage50 ft frontage on Lancaster Road

ParkingDriveway

Parking spaces2

Parking notesDriveway accommodates 2 vehicles

AccessStandard residential driveway from Lancaster Road

WaterMunicipal

SewerMunicipal

ElectricDuke Energy

GasPiedmont Natural Gas

Location & nearby

Lancaster Heights

Researched nearby locations

Hugh MacRae Park (1.2 mi)

New Hanover Regional Medical Center (3 mi)

Independence Mall (2.5 mi)

Wrightsville Beach (7 mi)

Location

337 Lancaster Road, Wilmington, NC 28409

View map

View in Google Maps

Editorial neighborhood context

Lancaster Heights is an established, family-oriented Wilmington neighborhood prized for its quiet streets, mature trees and convenient access to parks, shopping and beaches. Residents enjoy proximity to Hugh MacRae Park for outdoor recreation, short drives to Independence Mall and downtown, and easy routes to Wrightsville Beach. The area’s well-rated schools and steady appreciation have made it popular with families and professionals seeking a suburban feel close to city amenities.

Nearby access summary

Excellent access to green space with Hugh MacRae Park 1.2 miles away, Wrightsville Beach within 7 miles, and local park trails and open lawn areas for daily walks, recreation, and family activities.

ElementaryMasonboro Elementary (8/10)

Middle schoolRoland-Grise Middle (7/10)

High schoolHoggard High (8/10)

School districtNew Hanover County Schools

Market context

A factual market snapshot around 337 Lancaster Road.

Median sale price$290,000

Avg days on market30 days

Inventory2.5 months

1-year appreciation5.0%

5-year appreciation25.0%

Editorial market perspective

Lancaster Heights sits in a balanced, slightly supply-constrained market where well-priced single-family homes typically move within about 30 days. Local market metrics show inventory around 2.5 months and median sale prices near $290,000, with five-year appreciation of roughly 25% and modest one-year growth (~5%). Comparable ranch-style homes within a half mile have closed recently in the $275,000–$325,000 range, supporting a valuation midpoint near $300,000 ($200/SF).

For single-family ranches like this one—updated, 1,500 SF on a quarter-acre lot—demand remains steady from families and professionals who prize walkable access to parks, schools, and shopping. Low inventory and short average days on market favor sellers of move-in-ready properties, while buyers still see reasonable entry pricing relative to recent appreciation. With the home's 2023 HVAC upgrade and refreshed kitchen and baths, near-term maintenance risk is reduced, making this an opportune time for buyers seeking stability and future upside in a strong, appreciating neighborhood.

Zoning & land use

Single-Family Residential

Zoning

Zoning codeR-15

DescriptionSingle-Family Residential

JurisdictionCity of Wilmington

Assessor useSingle-Family Residential

Current useResidential

SetbacksFront 30', side 10', rear 25'

Research-indicated uses

Single Family
Accessory Dwelling Unit
Home Occupation

Verify with the jurisdiction: Zoning, setbacks, and allowed-use summaries are research indicators—not legal advice or a determination that a specific use is permitted.

Tax & sale history

Assessment data and recorded transactions.

Assessed value is kept visually separate from the CompCasa market-value estimate.

Tax assessment

Assessed land$75,000

Assessed improvements$150,000

Total assessed$225,000

Assessment year2025

Annual property tax$2,500

Tax year2025

Sale history

2015-06-15$200,000 · $133/SF

2005-04-20$150,000 · $100/SF

Rental market context

Rental references from the research record.

Context only—not an investment recommendation or guarantee of achievable rent.

Supporting lease references

01Monthly rent$1,700/mo

Property address310 Lancaster Rd, Wilmington, NC 28409

3 bed2 bath1,500 sq ft$1.13/SF

Leased Aug 1, 2025

Subject difference

Same living area

Research comparison noteSimilar size and condition, updated appliances

02Monthly rent$1,850/mo

Property address241 Lancaster Rd, Wilmington, NC 28409

3 bed2 bath1,450 sq ft$1.28/SF

Leased Jul 15, 2025

Subject difference

50 SF smaller

Research comparison noteSlightly smaller, renovated bathrooms

Research findings & due diligence

What the research supports — and what is still worth verifying.

Key findings

County assessor shows 2015 purchase at $200,000 ($133/SF) — current estimate $300,000 ($200/SF)
Assessed value $225,000 (land $75K, improvements $150K) — annual taxes $2,500
Zoned R-15 — single-family residential with potential for accessory dwelling unit
3 comparable sales within 0.5 miles in last 6 months range $275K–$325K
Average days on market in neighborhood: 30 days (balanced market)

Still worth verifying

Routine buyer due diligence items; these are not known defects.

Confirm lot dimensions and boundaries
Verify renovation permits were properly pulled
Confirm zoning restrictions and allowances
Professional home inspection
Roof condition assessment

Highlights & features

What stands out about this property.

01Move-in ready

02Updated kitchen and bathrooms

03New HVAC system (2023)

04Hardwood floors

05Spacious 0.23-acre lot

06Single-story ranch layout — easy living

07Strong neighborhood schools and park access

Interior Features

3 bedrooms, 2 full bathrooms
Hardwood floors throughout main living areas
Updated kitchen
Updated bathrooms
Single-story ranch layout
New HVAC system (2023)
Forced air electric heating and central AC
1,500 SF of living space

Exterior & Lot

0.23-acre level lot (approx. 10,000 SF)
50 ft frontage on Lancaster Road
Asphalt shingle roof (age requires inspection)
Driveway parking for two vehicles
Mature trees and lawn space for gardening and play
Wood-frame construction

Location & Neighborhood

Lancaster Heights neighborhood — established, family-friendly
Hugh MacRae Park approximately 1.2 miles
Independence Mall about 2.5 miles
New Hanover Regional Medical Center ~3 miles
Wrightsville Beach ~7 miles
Easy access to Carolina Beach Road (0.5 miles)

Walkability & Recreation

Walkability Rating: 65/100 — Some walkable amenities
Nearby parks: Hugh MacRae Park (1.2 mi)
Beaches: Wrightsville Beach (7 mi)
Shopping: Independence Mall (2.5 mi)
Medical: New Hanover Regional Medical Center (3 mi)
Local park trails and green space within 1.5 miles
Community recreation and family-friendly outdoor options nearby

Research transparency

Sources & research confidence.

See where the property research came from and how confidence varies by field.

View sources & confidence

New Hanover County Land Use & Zoning InformationView source

Realtor.com Listing for 305 Lancaster RdView source

Compass Listing for 250 Lancaster RdView source

Compass Listing for 209 Lancaster RdView source

Important: This analysis is AI-assisted and may contain inaccuracies. It is not a formal appraisal. Verify all critical facts with primary records, licensed professionals, and on-site inspection before making purchase decisions.