5613 Garrett Lea Park, Wilmington, NC 28412
Estimated Market Value
AI Property Analysis
Discover modern comfort and style at 5613 Garrett Lea Parke, a stunning patio home built in 2022, located in the charming Glenn Ellen section of Wilmington, NC. This exquisite single-story residence boasts 3 bedrooms, 2.5 bathrooms, and a generous 3,255 square feet of meticulously designed living space, perfect for both relaxing and entertaining.
Step inside to find a welcoming atmosphere, featuring sought-after amenities like central air conditioning, a cozy fireplace, and an expansive sunroom – ideal for enjoying the Carolina sunshine year-round. The home's brick veneer exterior, slab foundation, and shingle roof combine durability with classic appeal. Outside, an open porch provides a lovely spot for morning coffee, and the 758 square foot garage offers ample space for parking and storage.
As a local real estate expert, Buddy Blake understands the nuances of the Wilmington NC real estate market. This property represents a fantastic opportunity for those seeking a modern, low-maintenance lifestyle in a prime location. The home is nestled within The Village at Motts Landing, a community known for its inviting atmosphere and convenient access to local attractions. For more insights into the current market, check out the Wilmington NC Real Estate Market Update. Contact Buddy Blake Real Estate today to learn more about this exceptional offering!
Capital Gains Tax Analysis
Section 121 Primary Residence Exemption Analysis
Single Filer
Up to $250K Exclusion
Remaining taxable gain: $315,500
Married Filing Jointly
Up to $500K Exclusion
Remaining taxable gain: $65,500
Tax Liability Comparison
* This analysis is a simplified illustration based on an assumed 20% federal capital gains tax rate. It does not account for state taxes, depreciation recapture, the Net Investment Income Tax (3.8%), AMT, or individual circumstances. The Section 121 exclusion has specific IRS requirements regarding ownership, use, and timing that cannot be determined from public property records alone. This platform is not acting as a tax adviser, accountant, or attorney. Consult a licensed CPA or tax attorney to evaluate your specific situation. Calculation date: August 2026.
Financial Projections
Estimated Net Proceeds
These projections assume a 5.5% total sales commission, approximately 6% in closing costs and concessions, and mortgage payoff estimated from public purchase records (30-year fixed, 20% down payment, 5% assumed interest rate). Actual proceeds will vary based on negotiated terms, local costs, and current mortgage balance. This is not an appraisal or guaranteed estimate of net proceeds.
Equity Breakdown
Your Appreciation Story
Your home has appreciated at 32.9% per year — well above the historical average of 3.5%. This extraordinary growth was driven by recent market conditions that are unlikely to repeat. Understanding this context is key to making smart decisions about your equity. Past performance does not guarantee future results.
What Could Your Equity Do?
If you sold today and invested your $529,251 equity in the S&P 500, in 10 years it could grow to $1,372,741 — compared to an estimated $931,334 in total equity by staying in the home. These projections are hypothetical. Investment returns are not guaranteed and involve risk of loss.
The Hidden Cost of Holding
* Estimates do not include property taxes (county, city, school, or special district). Actual costs vary significantly by location and individual circumstances. This platform is not acting as a financial or investment adviser.
The estimated monthly cost of holding this property is approximately $3,098/month. This includes an estimated $2,205/month in opportunity cost — the hypothetical return that equity could earn if invested elsewhere. These figures are estimates and actual costs will vary.
Market Pulse
Strong property appreciation and high buyer demand indicate a seller-friendly market with competitive offers.
Your Neighborhood
<p>Nestled in the desirable Wilmington, NC area, 5613 Garrett Lea Parke is situated within the inviting community of Glenn Ellen, part of the larger <a href="https://www.buddyblake.com/homes-for-sale-wilmington-nc/village-at-motts-landing-wilmington-nc-homes-for-sale-expert-real-estate-guide/">The Village at Motts Landing</a>. This area falls under the highly-regarded New Hanover County Schools district, offering residents a convenient location with access to local amenities and the vibrant Wilmington lifestyle.</p>
Market Trend Projections
Based on moderate market appreciation projections, this property's estimated equity may increase by approximately this amount each month. Actual appreciation varies and is not guaranteed.
Strong seller's market — favorable conditions to sell now
* These projections are hypothetical illustrations based on historical trends and local market data. Conservative: 2.0%, Moderate: 3.5%, Aggressive: 8.0%. Actual results will vary. Past performance does not guarantee future results. This platform is not acting as an appraiser or investment adviser. Projection date: August 2026.
