2340 Ocean Point Dr Lists at $8M — $1,075/Sq Ft Tests Wilmington's Ultra-Luxury Ceiling

Property Summary

This 7,440 sq ft Intracoastal Waterway estate at 2340 Ocean Point Drive is currently among the largest active waterfront listings in Wilmington's gated Landfall community, asking $8,000,000. At $1,075/sq ft, the price is 2x to 3x above recent closed comparables in the same 28405 waterfront submarket, making it a direct test of how much premium buyers will pay for scale, architect pedigree, and turnkey condition versus newer but smaller luxury builds. For investors and agents tracking pricing power in Wilmington's ultra-luxury tier, this listing functions as a ceiling marker — its outcome will influence comps for every ICW-fronting property above $3M.

Fast Facts

• Address: 2340 Ocean Point Dr, Wilmington, NC 28405
• List Price: $8,000,000
• Bedrooms / Bathrooms: 5 bed / 8 bath (6 full, 2 half)
• Square Footage: 7,440 sq ft
• Lot Size: 0.66 acres (28,575 sq ft)
• Year Built: 2010
• Price per Sq Ft: ~$1,075
• Days on Market: ~57 days (listed January 30, 2026)
• HOA: $347/month ($4,166/year) — Landfall HOA
• 2025 Property Taxes: $36,331
• Zoning: R-20
• Zestimate: $7,514,500 | Redfin Estimate: $8,049,167

What Stands Out

• Scale is rare in this submarket. Active inventory above 7,000 sq ft on the ICW in 28405 is extremely limited. This is a category-of-one listing for buyers requiring multi-generational or executive-entertaining layouts.
• 8-bathroom count signals institutional-grade hosting capacity. The 6 full / 2 half bath configuration is atypical even for Landfall; it supports en-suite privacy across all five bedrooms with surplus capacity for common areas.
• Turnkey / fully furnished offering. The listing is marketed as move-in ready with furnishings included, which compresses the buyer's total cost timeline versus a comparable new build requiring extended construction and design.
• Architect attribution: Charles Dietsche. Dietsche, of Dietsche + Dietsche Architects PC in Wilmington, is a recognized coastal Carolina residential architect known for West Indies–inspired and Shingle Style waterfront homes across Wrightsville Beach, Bald Head Island, and Figure Eight Island. This property has been described as a West Indies–style residence. Design provenance can support pricing premiums, though the exact value-add is subjective and not directly quantifiable from public data.
• 4-car garage, infinity pool, and spa increase replacement cost and support the per-square-foot ask but also raise long-term maintenance exposure on a waterfront parcel.
• Automated valuation models bracket the ask. Zillow's Zestimate sits ~6% below list at $7,514,500; Redfin's estimate is ~0.6% above at $8,049,167. The spread suggests the ask is within but near the top of algorithmic fair-value range.

Pricing Lens

At $1,075/sq ft, this property commands a significant premium over every 2025 closed comp in the Landfall and broader 28405 waterfront submarket. The table below frames the gap:

The closest per-square-foot analog in recent Wilmington data is 807 John's Orchard Ln, currently listed at ~$1,048/sq ft — but that is an active new-construction listing (built 2026, 4,248 sq ft) asking $4,450,000, not a closed sale. The core question: does a 2010-built, 7,440 sq ft resale home justify parity with new-build asking prices? The turnkey package and ICW frontage support a premium, but the $1,075 figure sits in uncharted territory for resale product in this zip code. Buyers with leverage may target the Zestimate range (~$7.5M) as a negotiation anchor.

Neighborhood & Market Context

Landfall is a 2,200-acre gated community anchored by two championship golf courses — one designed by Pete Dye and one by Jack Nicklaus — totaling 45 holes, along with a country club and direct ICW access. The Ocean Point enclave within Landfall occupies some of the subdivision's most exposed waterfront parcels. The 28405 zip code has benefited from sustained demand drivers: proximity to Wrightsville Beach, and continued population migration into the Wilmington MSA.

For the ultra-luxury segment specifically, inventory remains thin. Listings above $5M in New Hanover County rarely exceed single digits at any given time, which limits direct price discovery and gives sellers more latitude on initial asks. The 57 days on market so far is not unusual for this price tier — absorption timelines of 90–180+ days are standard.

Risks & Watch-Outs

• Flood zone status is unconfirmed. ICW and sound frontage on a 0.66-acre parcel strongly suggests an AE or VE FEMA designation. Flood insurance premiums on a structure of this value could be significant depending on elevation certificate data. Verify via New Hanover County GIS (parcel R05112001011000).
• Wind and hurricane insurance. Coastal NC waterfront properties face tightening underwriting. Obtain current quotes; do not assume the seller's existing policy is transferable or representative of current-market rates.
• Property tax trajectory. The $36,331 2025 tax bill is based on the current assessed value. A sale at $8M could trigger a reassessment, potentially increasing annual taxes.
• Crawl space foundation on waterfront. A 15-year-old crawl space in a high-moisture, potential flood-zone environment warrants structural and moisture-barrier inspection.
• HOA governance and special assessments. Landfall's $347/month fee covers security and maintenance, but gated communities of this age and scale periodically levy special assessments for infrastructure. Request 3-year HOA financials.

Before You Buy

• Confirm FEMA flood zone designation and obtain a current elevation certificate
• Request wind/flood/homeowner insurance quotes from at least two coastal-specialist carriers
• Review Landfall HOA financials, reserve fund status, and any pending or recent special assessments
• Verify age and condition of HVAC, roofing, pool mechanicals, and seawall/bulkhead (15-year-old systems on waterfront)
• Obtain an independent appraisal — the thin comp set above $5M makes lender appraisals unpredictable
• Confirm what "fully furnished" includes in the purchase contract and whether any exclusions apply
• Check New Hanover County permit history for any post-construction modifications or repairs
• Assess projected property tax reassessment impact at the $8M sale price