Four-Unit Quadplex with
New
For Sale
$1,100,000
1032 Xian Way, Northwest, NC 28451
Residential Income, Northwest, NC
Property Size5,996 SF
Lot Size0.03 Acres
Price / SF$183.46
Days on Market2
Property Features for 1032 Xian Way
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Property condition
Under Construction
Zoning
NW-RR
Bedrooms
12
Bathrooms
12
Full bathrooms
8
Half bathrooms
4
Rooms
Bathroom 12, Bathroom 1, Bathroom 8, Bathroom 4, Bathroom 10, Bedroom 1, Bedroom 9, Bathroom 9, Bedroom 7, Bedroom 4, Bedroom 12, Bathroom 7, Bedroom 10, Bedroom 3, Bedroom 2, Bathroom 11, Bedroom 8, Bathroom 5, Bathroom 3, Bedroom 11, Bedroom 5, Bathroom 2, Bathroom 6, Bedroom 6
Parking
1
Parking features
Off Street, Garage
Patio and Porch features
Patio, Porch
Interior features
Mud Room
Elementary school
Lincoln
Middle school
Leland
High school
North Brunswick
High school district
Brunswick County Schools
Directions
From the BP Station on Northwest Rd NE, take a left onto Northwest Rd NE. After 0.3 miles, take a left onto Xian Way; the townhomes will be on your right.
Standard status
Active
APN
015pa008
Size
5,996 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
L-TH8 SKIPPER HEIGHTS PL-164/23
Legal Description
L-TH8 SKIPPER HEIGHTS PL-164/23
Utilities
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Central Air
Building Details
Year built
2025
Floors in Building
2
Number of units
4
Building materials
Vinyl Siding, Wood Frame
Roof type
Shingle
Listing Agency:
Prosper Real Estate
(910) 352-7957
Listed By:
Tyler N Broughton · License #301320
(910) 352-7957
Added: Aug 20
Last Checked: Aug 21 at 2:06PM
MLS# 100597748
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This quadplex offering comprises four residential units totaling 5,996 square feet, with approximately 1,499 heated square feet per unit. Each townhome-style residence includes three bedrooms, 2.5 bathrooms, an open living and kitchen arrangement, a primary suite with walk-in closet, a mud room, and a one-car garage. Patios and porches provide private outdoor space, while central air and electric heat pump systems serve the interiors. Vinyl siding, wood-frame construction, and shingle roofing are specified, with the property condition listed as under construction and a 2025 year built.
Two four-unit groups are available for selection. One group has three units rented and one vacant, while the other has all four units vacant. The property is in Northwest, Brunswick County, North Carolina, and carries NW-RR zoning.
Two four-unit groups are available for selection. One group has three units rented and one vacant, while the other has all four units vacant. The property is in Northwest, Brunswick County, North Carolina, and carries NW-RR zoning.
Key Highlights
- Four units totaling 5,996 square feet
- Approximately 1,499 heated square feet per unit
- Each residence has 3 bedrooms, 2.5 baths, and a one‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$53,454
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,069,080
$1.1M
Cap Rate 7%
$763,629
$763.6K
Cap Rate 9%
$593,933
$593.9K
Market Conditions
NOI Build-Up for 5,996 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$81.3K $13.56/SF
− Vacancy
−$4.9K −$0.82/SF
EGI
$76.4K $12.74/SF
− OpEx
−$22.9K −$3.82/SF
NOI
$53.5K $8.91/SF
Area
Columbus County, NC
Vacancy
6.08%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,069,080
Cap Rate 7%
$763,629
Cap Rate 9%
$593,933
Alternative Uses
Best Use
Multifamily LT 5
$763.6K
$668.2K – $890.9K
NOI $53,454 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$677.3K
$592.7K – $790.2K
NOI $47,412 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$1.45M
$1.27M – $1.70M
NOI $101,815 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
35
Businesses Nearby
Explore this area
Business Placement
Demographics for 28451, NC
39,025
Population
19,672
Households
2
Avg Household Size
48
Median Age
34%
College-Educated
92%
High-School Grad
172.2 sq mi
ZIP Area
227
Density / Sq Mi
$77,380
Median Household Income
$41,164
Median Earnings
$1,465
Median Rent
$315,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units provide three-bedroom layouts, private outdoor areas, and flexible occupancy options.
Where is this quadplex located?
The property is located at 1032 Xian Way Northwest, NC.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four units totaling 5,996 square feet; Approximately 1,499 heated square feet per unit; Each residence has 3 bedrooms, 2.5 baths, and a one‑car garage
