108 Castle St vs 117 Victoria Dr: Historic Home Meets Vacant Lot in 28401's $590K–$629K Range

Property Summary

108 Castle St is a 3-bedroom / 3-bathroom historic home in Wilmington's 28401 zip code that last traded at $590,000 in 2025 after a prior listing at $625,000, spanning 1,659 sq ft. Meanwhile, 117 Victoria Dr sold for $629,000 in August 2025 — but verified records show it is a vacant residential lot of approximately 1.19–1.2 acres with no structure, not a 3-bedroom home.

User-provided details describing 117 Victoria Dr as a 3/3 home with 1,956 sq ft are not supported by public records. The two transactions represent fundamentally different asset types rather than a direct housing comparison.

Fast Facts

108 Castle St, Wilmington, NC 28401

• Price: $590,000 (last sold, 2025) | previously listed at $625,000
• Beds / Baths: 3 / 3 (all full)
• Sq Ft: 1,659
• Lot: 5,663 sq ft (~0.13 acres), irregular
• Year Built: 1882
• Price / Sq Ft: ~$356 (based on $590K sale) | ~$377 at prior $625K ask
• HOA: None
• Status: Off-market
• Zoning: R-3
• Parcel: R05409016020000

117 Victoria Dr, Wilmington, NC 28401

• Last Sale Price: $629,000 (August 25, 2025)
• Property Type: Vacant residential lot (no structure)
• Lot Size: ~1.19–1.2 acres
• Prior Sale: $105,000 (June 9, 2022)
• Beds / Baths / Sq Ft: N/A — no building on site
• Status: Off-market (not currently for sale)
• Year Built / HOA / Zoning: Not available in sourced data
• Note: User-provided details describing this as a 3-bed/3-bath, 1,956 sq ft home at $321/sq ft are contradicted by verified records showing a vacant lot.

What Stands Out

• These are not comparable properties. 108 Castle St is an improved historic home; 117 Victoria Dr is a vacant 1.19-acre lot. A per-square-foot comparison between the two is not valid.
• 117 Victoria Dr's $629,000 sale for a vacant lot represents roughly $529,000 per acre for raw land — suggesting the buyer may have development plans or the lot carries unique value (location, entitlements, or assemblage potential). The lot previously sold for just $105,000 in June 2022, a roughly 6× increase in three years.
• 108 Castle St is an 1882 build — one of the oldest residential structures actively trading in this price segment. Wood-frame construction and 143 years of age introduce system-condition risk.
• No HOA at 108 Castle St is confirmed; HOA status at 117 Victoria Dr is unknown.
• 108 Castle St prices at roughly 1.6× the 28401 median listing price of approximately $360,000–$365,000, positioning it in the upper tier of a zip code where the bulk of inventory trades well below $450,000.
• Nearby comp: 109 Castle St is a 3-bed/3-bath, 2,300 sq ft home that last sold for $277,000 on September 1, 2015 — not the $625,000 figure cited in earlier research. Current estimated values for 109 Castle St range from $577,700 (Zillow) to $687,921 (Homes.com), reflecting significant appreciation since 2015 but no recent confirmed sale at $625,000.

Pricing Lens

108 Castle St's ~$356/sq ft sale price (at the $590K close) should be evaluated against other improved historic homes in the Dawson-Castle Street area. The only nearby reference point, 109 Castle St, last sold in 2015 for $277,000 but is now estimated between $577,700 and $687,921 — suggesting Castle Street pricing has appreciated substantially.

The 28401 zip code shows a median listing price of approximately $360,000–$365,000 with 236–253 active listings and an average of roughly 62 days on market per Realtor.com data. Properties priced above $550,000 in this zip likely face a thinner buyer pool, extending potential marketing time.

Neighborhood & Market Context

108 Castle St sits in the Dawson-Castle Street historic district, a walkable corridor with proximity to downtown Wilmington's restaurant, retail, and employment base. The district has seen incremental renovation-driven appreciation as investors target pre-war housing stock for both owner-occupant resale and short-term rental conversion.

117 Victoria Dr is a vacant 1.19-acre lot. Without verified details on zoning or entitlements, it is unclear whether the $629,000 purchase reflects land banking, a planned new-construction project, or other investment strategy. The roughly 6× price increase from its $105,000 sale in mid-2022 is notable.

Both locations benefit from Wilmington's broader economic drivers: UNCW, the Port of Wilmington, regional healthcare employment, and steady population growth across New Hanover County.

Risks & Watch-Outs

• Flood zone status is unconfirmed for both properties. New Hanover County GIS should be checked; Castle Street's downtown location and Victoria Drive's position may carry different FEMA designations and insurance costs.
• 108 Castle St's 1882 construction raises questions about foundation integrity, electrical/plumbing updates, lead paint, and roof age. A home warranty was included in the last sale — worth examining what it covers.
• Insurance costs for historic wood-frame structures in coastal North Carolina can be significantly higher than newer construction; this directly impacts net yield for investors. (Specific multiples were not confirmed in sourced data.)
• 117 Victoria Dr is a vacant lot, not an improved home. Any user-provided data describing it as a 3/3 residence is contradicted by Zillow, Compass, and Realtor.com records. Buyers or analysts relying on the user-provided details face significant due-diligence risk.
• R-3 zoning at 108 Castle St should be verified for any STR or multi-unit conversion plans; Wilmington's short-term rental ordinance may restrict non-owner-occupied permits in certain zones.

Before You Buy

• Verify 117 Victoria Dr property type, zoning, and development entitlements via New Hanover County tax records and planning department — confirmed as a vacant lot, not a home
• Pull FEMA flood zone maps for both addresses through New Hanover County GIS
• Request insurance quotes for 108 Castle St — compare coastal/wind/flood premiums for historic wood-frame construction
• Confirm zoning allowances for short-term rental at 108 Castle St under current Wilmington STR ordinance
• Review 108 Castle St inspection report for structural, electrical, plumbing, and roof condition given 1882 build date
• Check New Hanover County tax assessment for both parcels to compare assessed value vs. sale price
• Investigate 109 Castle St current condition and estimated value ($577K–$688K range across platforms) as the primary street-level comp for Castle Street pricing; last confirmed sale was $277,000 in September 2015
• Investigate DOM history for 108 Castle St's prior $625,000 listing and the price reduction to the $590,000 close