Four-Unit Apartment
For Sale
Contact for pricing
112 E Calhoun St, Whiteville, NC 28472
Four recently remodeled two-bedroom units, furnished and ready to rent, with hardwood floors and plaster walls.
Property Size4,914 SF
Price / SF$106.84
Days on Market59
Property Features for 112 E Calhoun St
General Information
Standard status
Active
Size
4,914 SF
Property subtype
Multifamily
Building Details
Year Built
1952
Listing Agency:
Berkshire Hathaway Home Services
Listed By:
Lisa Bass · License #NC
Source:
Crexi
Added: Jun 10
Changed: Jul 10
Last Checked: Aug 7 at 5:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Berkshire Hathaway Home Services
Investment Insights
Based on property information with market context.
This four-unit apartment complex includes four recently remodeled apartments, each configured as two bedrooms and one bathroom with a spacious living room and a separate kitchen. Interiors feature hardwood floors and plaster walls. The units are fully furnished and presented as move-in ready for rental occupancy.
The property is located at 112 E Calhoun St in Whiteville, NC, with driving access described via Hwy 74/76 to Whiteville, then Hwy 701 into Whiteville, followed by turns onto Washington St, Madison St, and Calhoun St. The address directions indicate the building is on the right on Calhoun St.
For buyers seeking a small, turn-key multifamily asset, the building’s four consistent two-bedroom layouts and furnished condition can help streamline leasing and reduce initial setup time. Financing may be available through owner financing, subject to a substantial down payment and approved credit check, and the broker is a member-manager of the LLC that owns the property.
The property is located at 112 E Calhoun St in Whiteville, NC, with driving access described via Hwy 74/76 to Whiteville, then Hwy 701 into Whiteville, followed by turns onto Washington St, Madison St, and Calhoun St. The address directions indicate the building is on the right on Calhoun St.
For buyers seeking a small, turn-key multifamily asset, the building’s four consistent two-bedroom layouts and furnished condition can help streamline leasing and reduce initial setup time. Financing may be available through owner financing, subject to a substantial down payment and approved credit check, and the broker is a member-manager of the LLC that owns the property.
Key Highlights
- Four recently remodeled 2‑bedroom, 1‑bath apartments, each with a spacious living room and separate kitchen
- Each unit is approximately 1,228 SF and is fully furnished and ready to rent
- Southern traditional style interiors with hardwood floors and plaster walls throughout the units
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
$43,808
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
8.34%
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%
$876,160
$876.2K
Cap Rate 7%
$625,829
$625.8K
Cap Rate 9%
$486,756
$486.8K
Market Conditions
NOI Build-Up for 4,914 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
$66.6K $13.56/SF
− Vacancy
−$4.1K −$0.82/SF
EGI
$62.6K $12.74/SF
− OpEx
−$18.8K −$3.82/SF
NOI
$43.8K $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%
$876,160
Cap Rate 7%
$625,829
Cap Rate 9%
$486,756
Alternative Uses
Best Use
Multifamily LT 5
$625.8K
$547.6K – $730.1K
NOI $43,808 @ 7.0% cap · market cap 8.34%
Second Best
Apartment 5plus
$555.1K
$485.7K – $647.6K
NOI $38,857 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,442 @ 7.0% cap · market cap 15.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
636
Businesses Nearby
Explore this area
Business Placement
Demographics for 28472, NC
17,308
Population
8,073
Households
2.1
Avg Household Size
44
Median Age
18%
College-Educated
91%
High-School Grad
197.9 sq mi
ZIP Area
87
Density / Sq Mi
$48,963
Median Household Income
$36,535
Median Earnings
$788
Median Rent
$141,000
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 recently remodeled two-bedroom units, furnished and ready to rent, with hardwood floors and plaster walls.
Where is this quadplex located?
The property is located at 112 E Calhoun St Whiteville, NC.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Four recently remodeled 2‑bedroom, 1‑bath apartments, each with a spacious living room and separate kitchen; Each unit is approximately 1,228 SF and is fully furnished and ready to rent; Southern traditional style interiors with hardwood floors and plaster walls throughout the units
