Attention investors and handy people! Solid brick ranch outside city limits with no HOA, ready for your vision. This property needs primarily cosmetic updates, making it a great candidate for a quick flip or a value-add project with strong sweat equity potential. This charming 3-bedroom, 1.5-bath home sits on a spacious 0.30-acre lot and is just a short drive to Carolina Beach, giving you the perfect blend of everyday comfort and coastal convenience. Major updates include a roof approximately 5-6 years old and an HVAC system replaced in 2019. Enjoy outdoor living with a screened-in patio, storage shed, and a well-maintained yard featuring mature azalea bushes. The property also includes two koi ponds (fish removed), offering a unique landscaping feature or a great opportunity to customize the space to your vision. Additional highlights include a brand-new well pump connected to the sprinkler system. Being sold as-is, this home is full of potential and ready for its next owner to make it their own.
Single-familyProperty Type
1977Year Built
0.3 acresLot Size
$192Price/Sq.Ft.
Listed by The Summers Real Estate Team• Keller Williams Innovate-Wilmington
Listed by Syd Stich• Keller Williams Innovate-Wilmington
Est. $2,300 per month, based on comparable rentals
Sale and tax history for 514 Cathay Rd
Sale History
Tax History
Date
Event
Price
Hive MLS #100569025
May 26, 2026
Sold
$270,500
$192/sq ft
Apr 26, 2026
Contingent
—
Apr 23, 2026
Listed
$265,000
$188/sq ft
Public Records
Apr 1, 1989
Sold
$47,000
$33/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$354 (−34.7%)
$126,900 + $188,800
$315,700
2024
$542 (+1.1%)
$126,900 + $188,800
$315,700
2023
$536 (−0.8%)
$67,100 + $112,100
$179,200
2022
$540 (+7.5%)
$67,100 + $112,100
$179,200
2021
$503 (+15.2%)
$67,100 + $112,100
$179,200
2020
$436
$67,100 + $112,100
$179,200
2019
$436
$31,000 + $107,000
$138,000
2018
$436 (−2.3%)
$31,000 + $107,000
$138,000
2017
$447 (+17.6%)
$31,000 + $107,000
$138,000
2016
$380 (+7.6%)
$31,000 + $107,000
$138,000
2015
$353 (+1.7%)
$31,000 + $78,900
$109,900
2014
$347
$31,000 + $78,900
$109,900
Public record
Public record
Zoning
Beds
3
Baths
1.5
Stories
1
Lot width
—
Lot depth
—
Lot size
0.3 Acres
Year renovated
—
Sq. Ft.
1,386
Year built
1977
Style
Single Family Residential
County
New Hanover County
APN
R07816-003-024-000
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 17, 2026.
R-10
Residential-10 District
The purpose of the Residential-10 (R-10) District is to provide lands that accommodate new residential neighborhoods and encourage the conservation of existing residential lots and neighborhoods. Neighborhoods in the R-10 District are relatively low density in character and include a limited mix of single family and duplex housing types. If public water is not available, the water system infrastructure must be installed in accordance with County standards and connected when a public supply becomes available. R-10 district lands may be established in proximity to neighborhood or community commercial districts to encourage the establishment of walkable development patterns.
Property details
Parking
Parking/Garage Information
Parking Features: On Site, Paved
Interior
Bathroom Information
# of Full Bathrooms: 1
# of Half Bathrooms: 1
Heating & Cooling
Has Cooling
Cooling: Central Air
Has Heating
Heating: Electric, Heat Pump
Interior Features
Interior Features: Entrance Foyer, Ceiling Fan(s), See Remarks
Room Information
# of Rooms Total: 9
Exterior
Exterior Features
Patio And Porch Features: None
Fencing: None
Roof: Shingle
Building Information
Entry Level: 1
Sq. Ft.: 1408.0
Levels: One
# of Stories Total: 1
Construction Materials: Brick Veneer, Frame
Foundation Details: Slab
Property Information
Property Type: Residential
Property Sub Type: Single Family Residence
Raw Mls Property Sub Type: Single Family Residence
Lot Information
Frontage Type: See Remarks
Road Surface Type: Paved
Road Frontage Type: City Street, State Road
Lot Size : 0.3
Lot Size Dimensions: Irregular
Lot Size Area: 0.3
Lot Size Units: Acres
Lot Size Acres: 0.3
Zoning: R-10
Financial
Tax Information
Tax Annual Amount: $1,194.93
Utilities
Utility Information
Water Source: Public
Utilities: Water Available
Location
Schools Information
Elementary School: Bellamy
Middle Or Junior School: Murray
High School District: New Hanover
High School: Ashley
Location Information
Directions: From South College Road (NC-132), head toward the Monkey Junction area. Turn onto Carolina Beach Road (US-421 South). Continue for approximately 1 mile, then turn right onto Cathay Road. Follow Cathay Road into Monterey Heights subdivision. Continue straight and 514 Cathay Rd will be on the right.
Subdivision Name: Monterey Heights
Public facts
Beds: 3
Baths: 1.5
Sq. Ft.: 1,386
Stories: 1.0
Lot Size: 0.3 acres
Style: Single Family Residential
Year Built: 1977
Year Renovated: —
County: New Hanover County
APN: R07816-003-024-000
Home facts updated by county records on Jul 17, 2026
Other
Listing Information
List AOR: Cape Fear Realtors MLS, Inc.
Around this home
Schools
Heyward C Bellamy Elementary
Public K-5 • Assigned • 0.9mi
10/10
Charles P Murray Middle
Public 6-8 • Assigned • 0.7mi
7/10
Eugene Ashley High
Public 9-12 • Assigned • 0.7mi
5/10
Provided by GreatSchools
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
9/10 Heat Factor
7 days above 106° expected this year, 19 days in 30 years
9/10 Wind Factor
99% chance of strong winds in next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 1 days in 30 years
Provided by First Street
Historical weather
Wilmington, NC • 28412
Average low and high temperatures (°F)
53
34
58
39
71
50
77
58
81
65
89
73
91
76
85
72
82
68
75
57
69
50
59
40
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
95/ 100
Exceptional sunlight
Sunscore
This home receives average direct sun exposure in Wilmington. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.5 hrs
6.5 hrs
JuneDecember
Provided by Shadowmap
Estimated sale price
$303,000 – $367,000
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