Wilmington, nc: anyone know anything about Camden Circle? (Forest Hills: for sale, rental market)

[Green zebra]

Hi there,

I'm looking at houses in Wilmington, NC, and have seen some in Devon Park. There's another area next to Devon Park, which on some maps is called Colonial Village. It's mainly just the street called Camden circle. There are a few sweet small houses for sale on this street, mostly built in the 40s. The prices are very reasonable, lower than many in town. Is there some reason for the lower prices? The street looks nice, though very close to Independence blvd. I feel like I may be missing something about crime, safety, noise...would really appreciate any info from locals.

Thanks so much!

[goldenage1]

Originally Posted by Green zebra

Is there some reason for the lower prices? The street looks nice, though very close to Independence blvd. I feel like I may be missing something about crime, safety, noise...would really appreciate any info from locals.

The schools have lower ratings: Forest Hills ES is a 3 of 10, Williston MS is a 4 of 10, and New Hanover HS is a 4 of 10. That's fine if you don't have kids.

Otherwise, the houses need a lot of work. The un-renovated ones may not have central A/C, for example. The one at $82K had very low ceilings upstairs, and might be usable only by a small child.

[Green zebra]

Thanks so much, Goldenage1. That's very helpful. So the schools would definitely impact resale value.

[le roi]

Originally Posted by Green zebra

Is there some reason for the lower prices? The street looks nice, though very close to Independence blvd. I feel like I may be missing something about crime, safety, noise...would really appreciate any info from locals.

Thanks so much!

to add to and/or reinforce what goldenage said:

in my experience, they are ancient, AND they were built with cheap materials to begin with-- so many of them need work

the neighborhood isn't bad, but it isn't the best. plus it ties in to New Hanover High, which makes it less desirable.

[Green zebra]

Thanks, le roi; the age of the house doesn't scare me off; I've looked at some bungalows that were built in the 20s, and understand some (not all, I'm sure) of the issues with older homes...but it has to be worth putting the work in.

If I understand what you're saying, it's the combination of the age of the house with the fact that, as modest little houses, they were built on the cheap during the 40s, correct?

And the links to schools may mean that I could end up not getting a return on renovation when I move. I'm not trying to flip a house, but still, you want to make sure you're making the right investment.

[le roi]

Originally Posted by Green zebra

Thanks, le roi; the age of the house doesn't scare me off; I've looked at some bungalows that were built in the 20s, and understand some (not all, I'm sure) of the issues with older homes...but it has to be worth putting the work in.

i put a lot of these homes in the category of : "too small for families and too expensive for single people"

i've done a lot of research about the devon park area., it has a ton of uh... "certain types" -- people with very low fixed incomes who bought their homes 40, 50 years ago, and/or their kids, who tend to either rent them out, or be lower/working class and struggle to pay the bills. Many of the current owners "bought in" back not only when land in general was much cheaper, but prior to the influx of $$$ in Wilmington.

So for young, yuppie-type families (the people who have $$ to spend) , it is kind of a ripoff to take out a 30-year mortgage paying 21st century prices on a renovated home, only to find your neighbors have rusty pickup trucks parked in the front yard, with a dilapidated roof, and are struggling to pay the bills.

in other words, it is a "cute" neighborhood in many ways, and in a pretty good location -- but that area is priced the way it is because of the people who live there.

If I understand what you're saying, it's the combination of the age of the house with the fact that, as modest little houses, they were built on the cheap during the 40s, correct?

correct

And the links to schools may mean that I could end up not getting a return on renovation when I move. I'm not trying to flip a house, but still, you want to make sure you're making the right investment.

i think that's a very risky way to make money

[Green zebra]

Thanks again, le roi; your info is great. As for trying to make money, that's not what I meant; what I mean is, if I put work into it to live, and then move in a few years, will I break even or get a little back, vs losing.

After investigating Devon park and seeing a few houses in that neighborhood, it does seem less and less attracted to me than it did at first.

Any neighborhoods you particularly recommend?

[HP91]

I really like the location...and really wish the whole Wilshire are would see more investment, but the reality is that it is more and more becoming a rental market because of the age of the dwellings and that they aren't "historic".

I prefer the Audobon area, which is off Park Ave and closer to the commercial stuff on Oleander Drive...because it is more of a mixed-use type area...offices next to single family homes....and the value of the land will see a rise. Personally, I think the Wrightsville Avenue corridor all the way to the beach has been undervalued by the City for years. If it was still 2 lane, widened with bike baths, sidewalks, etc...I think it could see much more investment in it. I honestly think it could qualify for NC Scenic Byway status if it was prioritized.

[le roi]

Originally Posted by Green zebra

Thanks again, le roi; your info is great. As for trying to make money, that's not what I meant; what I mean is, if I put work into it to live, and then move in a few years, will I break even or get a little back, vs losing.

After investigating Devon park and seeing a few houses in that neighborhood, it does seem less and less attracted to me than it did at first.

Any neighborhoods you particularly recommend?

depends on your price range / what amenities you prioritize / where you need to be close to.

[Green zebra]

HP 91, I agree with you, and if I could find the right place, would ideally like to be off that Wrightsville/oleander corridor on the other side of college, going toward Wrightsville beach, and including sea gate. So far, it's been slim pickings in terms of what's actually on the market in my price range. Thx!

So le roi, that partly answers your question, and I'm looking for something on a nice quiet street with a good backyard for gardening, the shorter the drive to Wrightsville beach the better, either 2/2 or 3/2, on the small side, ie, between say 1000-1500 SF, under 200,000. Without aluminum wiring, hopefully no buried oil tank, am willing to put some work into it but don't want to take on a full renovation. Not interested in granite countertops or stainless steel, would prefer to find something with good bones in need of some updating, rather than fully renovated interior to someone else's taste. For houses with updating I'm much more interested in things like roof, siding, sloping floors, HVAC, crawl space. Thx!