302 Semmes Drive in 28412 asks $485K as Pine Valley Estates tests a modest premium

Property Summary

302 Semmes Drive is a newly listed single-family home in Wilmington’s 28412 zip code, priced at $485,000. Public listing pages show 4 beds, 3 baths, 2,001 sq ft, a 0.53-acre lot, 1974 construction, no HOA, and a date-on-market of February 28, 2026.

About The Home

A newly listed home at 302 Semmes Drive in Wilmington’s 28412 zip is asking $485,000, or about $242 per square foot, positioning it slightly above both the broader zip code’s median listing price and Pine Valley Estates’ published area average on a per-square-foot basis.

Public listing details show a 4-bedroom, 3-bath single-family home with 2,001 square feet on a 0.53-acre lot, built in 1974 and located in Pine Valley Estates. Zillow’s structured data also shows no HOA, a detail that still carries weight in south Wilmington, where many newer neighborhoods trade flexibility for association oversight.

The economic angle here is straightforward: this is not a new-construction product competing on glossy finishes or amenity packaging. It is an established-house offering competing on lot size, layout flexibility, and location efficiency. Public remarks mention a one-story brick layout, screened porch, fenced yard, walk-up attic, newer windows, and a new heat pump in 2024. That makes the property easier to position toward buyers who want space and fewer recurring restrictions, but do not want to stretch into higher-priced coastal-adjacent neighborhoods.

On price, the ask lands in a defensible but not discounted zone. Realtor.com shows the 28412 median listing price at $457,900, while Redfin reports the median sale price at $440,000 in February 2026, up 10.0% year over year. Against that backdrop, a $485,000 ask is a measurable premium, but not an outlier—especially with a half-acre lot and no HOA.

The main caution is data consistency. Public sources reviewed for this article conflict on bath count and garage count, and the home’s 1974 vintage means buyers should underwrite deferred-maintenance risk carefully. In other words, the list price may make sense, but only if the home’s major systems, roof, and insurability hold up under due diligence.

For Wilmington’s 28412 market, this is the kind of listing that can attract steady attention: not flashy, but practical, well-located, and priced close enough to submarket norms to stay in play if condition checks out.

Fast Facts

• Address: 302 Semmes Drive, Wilmington, NC 28412
• List price: $485,000
• Beds / baths: 4 bed / 3 bath public-facing summary; agent remarks describe 4 bedrooms / 2.5 updated baths. Bath count should be verified.
• Size: 2,001 sq ft
• Lot size: 0.53 acres / 23,087 sq ft
• Year built: 1974
• Property type: Single-family residence
• Subdivision: Pine Valley Estates
• HOA: Public listing says no HOA
• Listed: March 2, 2026 on one brokerage feed; Zillow shows date on market February 28, 2026.

Analysis:

Why this listing matters

This is a useful “move-up but not luxury” listing for south Wilmington: a larger-than-entry-level lot, established housing stock, and no-HOA positioning in a zip code where active inventory carries a median listing price of about $457,900. At $485,000, the house is only modestly above that zip-code median, but the half-acre lot and Pine Valley Estates location push it into a more selective buyer segment than a typical 28412 resale.

What stands out

• Lot size is a real differentiator. At 0.53 acres, this is bigger land than many newer in-city resales offer.
• No HOA matters in a Wilmington market where many newer neighborhoods include monthly dues and architectural restrictions.
• Established-house economics. Built in 1974, this is not new construction, which usually means buyers are paying more for lot size and location than for “brand-new” finishes alone.
• Recent system/interior updates appear to be part of the pitch. Public remarks mention newer windows, newer flooring, and a new heat pump in 2024.
• Functional buyer fit. Listing remarks point to a one-story layout, screened porch, fenced backyard, walk-up attic, and room that can flex into office or hobby space.

Pricing lens

Using the public ask of $485,000 and 2,001 sq ft, the home is priced at roughly $242/sq ft, which matches Zillow’s published figure.

That puts it:

• Above the Pine Valley Estates area average of about $230/sq ft shown on the brokerage area snapshot.
• Slightly above the 28412 active-listing median price of $457,900 on Realtor.com.
• In a zip code where median sale price was $440,000 in February 2026, up 10.0% year over year, according to Redfin.

What that means: this listing is not a bargain-basement value play. It is asking for a premium over local averages, but the premium is not extreme if buyers place value on the lot size, no-HOA status, and south-Wilmington location.

Neighborhood + real-economy tie-in

The address sits in Pine Valley Estates in Wilmington’s 28412 zip, a south-Wilmington submarket that continues to benefit from its position between midtown job centers and the Carolina Beach corridor. Public market pages show 28412 as one of Wilmington’s more active residential zip codes, with hundreds of active listings and median pricing above some nearby lower-cost areas such as 28403 and 28401.

From a buyer-segment standpoint, this looks best suited for:

• households that want more yard and fewer HOA constraints than many newer subdivisions provide;
• buyers who need 4-bedroom flexibility without jumping into the $600,000-plus bracket common in some coastal-adjacent submarkets;
• remote or hybrid workers who value a potential office room and established residential setting over new-build amenities.

Risks / watch-outs

• Bath count inconsistency: one source shows 3 baths, while marketing copy says 2.5 updated baths. Needs verification.
• Garage inconsistency: remarks mention a side-entry two-car garage, while another structured field shows garage: 0. Needs verification.
• Age of structure: built in 1974, so buyers should expect more diligence on roof age, plumbing, electrical updates, and crawl-space condition. Year built is confirmed; the condition of those systems is not confirmed in public listing details.
• Limited public visual disclosure so far: one brokerage feed shows only 4 photos, which can make condition assessment harder before touring.
• Insurance and flood exposure: not confirmed in the public listing details reviewed here. Needs verification.