Remodeled Four-Unit
For Sale
$497,500
112 E Calhoun Street, Whiteville, NC 28472
Residential Income, Whiteville, NC
Property Size5,162 SF
Lot Size0.26 Acres
Price / SF$96.38
Days on Market117
Property Features for 112 E Calhoun Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
R12
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 2, Bedroom 8, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 3, Bedroom 5, Bathroom 3, Bedroom 7, Bedroom 6
Parking features
Parking Lot, Driveway, Paved or Surfaced, Off Street
Security features
Security Lighting
Patio and Porch features
Porch, Patio, Deck
Interior features
High Ceilings, Wash/Dry Connect, Furnished, Pantry, Blinds/Shades
Exterior features
Mail on Site, Trash on Site
Appliances
Electric Oven, Washer, Refrigerator, Dryer
Subdivision
Not In Subdivision
Elementary school
Whiteville
Middle school
Central
High school
Whiteville
Directions
Hwy 74/76 to Whiteville. Turn onto Hwy 701 into Whiteville. Turn left on Washington St. At the round a bout turn right onto Madison St. Turn left onto Calhoun St. 112 E Calhoun is on the right.
Standard status
Active
APN
000152
Size
5,162 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PIN 0281.04.91.8450.000
Tax Annual Amount
1418
Legal Description
PIN 0281.04.91.8450.000
Utilities
Heating system
Heat Pump (Heating), Electric (Heating), Forced Air
Cooling system
Central Air, Heat Pump
Water source
Public
Building Details
Year built
1952
Floors in Building
2
Number of units
4
Flooring type
Wood
Building materials
Brick, Brick Veneer, Wood Frame
Roof type
Shingle, Flat
Listing Agency:
Berkshire Hathaway HomeServices Carolina Premier Properties
(910) 222-4060
Listed By:
Lisa A Bass · License #185361
(910) 620-7478
Added: Jun 1
Changed: Sep 18
Last Checked: Sep 25 at 1:06AM
MLS# 100578261
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 four-unit residential income property contains approximately 5,162 square feet on 0.26 acres. Each residence measures approximately 1,228 square feet and includes two bedrooms, one bathroom, a separate kitchen, and a spacious living room. Recent remodeling incorporates hardwood flooring, plaster walls, high ceilings, blinds or shades, and furnished interiors. Units also include washer and dryer connections, pantries, electric ovens, and refrigerators.
The property is located at 112 E Calhoun Street in Whiteville, NC, within R12 zoning. On-site features include a paved parking lot, driveway and additional off-street parking, along with mail and trash facilities. Porches, patios, and decks provide outdoor areas, while public water, central air, heat pumps, and forced-air heating serve the building. Constructed in 1952, the property has brick, brick veneer, and wood-frame construction with flat and shingle roofing.
The property is located at 112 E Calhoun Street in Whiteville, NC, within R12 zoning. On-site features include a paved parking lot, driveway and additional off-street parking, along with mail and trash facilities. Porches, patios, and decks provide outdoor areas, while public water, central air, heat pumps, and forced-air heating serve the building. Constructed in 1952, the property has brick, brick veneer, and wood-frame construction with flat and shingle roofing.
Key Highlights
- Four‑unit property with approximately 5,162 square feet
- Each unit is approximately 1,228 square feet with 2 bedrooms and 1 bathroom
- 0.26‑acre site at 112 E Calhoun Street, Whiteville, NC 28472
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
$40,818
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
8.20%
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%
$816,360
$816.4K
Cap Rate 7%
$583,114
$583.1K
Cap Rate 9%
$453,533
$453.5K
Market Conditions
NOI Build-Up for 5,162 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
$79.3K $15.36/SF
− Vacancy
−$5.1K −$0.98/SF
EGI
$74.2K $14.38/SF
− OpEx
−$33.4K −$6.47/SF
NOI
$40.8K $7.91/SF
Area
Columbus County, NC
Vacancy
6.40%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
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%
$816,360
Cap Rate 7%
$583,114
Cap Rate 9%
$453,533
Alternative Uses
Best Use
Multifamily LT 5
$657.4K
$575.2K – $767.0K
NOI $46,019 @ 7.0% cap · market cap 9.25%
Second Best
Apartment 5plus
$583.1K
$510.2K – $680.3K
NOI $40,818 @ 7.0% cap · market cap 8.20%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,653 @ 7.0% cap · market cap 17.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
599
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four furnished residences feature two bedrooms, one bath, separate kitchens, and dedicated living areas.
Where is this quadplex located?
The property is located at 112 E Calhoun Street Whiteville, NC.
What is the asking price?
The asking price for this property is $497,500.
What are key features of this property?
This property features: Four‑unit property with approximately 5,162 square feet; Each unit is approximately 1,228 square feet with 2 bedrooms and 1 bathroom; 0.26‑acre site at 112 E Calhoun Street, Whiteville, NC 28472
