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    Duplex Portfolio with Fenced Yards Title is generated by Realmo AI

    1411 Corbett Street, Wilmington, NC 28401

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    For Sale
    $649,900

    MULTI_FAMILY - Wilmington, NC

    Property size:
    3,096 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $209/SF
    Added:
    Jun 4, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 5 at 9:06 am

    Property Features for 1411 Corbett Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R-3
    Bedrooms
    8
    Bathrooms
    4
    Rooms
    Bedroom 6, Bedroom 8, Bathroom 1, Bedroom 5, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 1, Bathroom 4, Bathroom 2, Bedroom 7
    Parking features
    Off Street
    Patio and Porch features
    Patio, Porch
    Interior features
    High Ceilings, Kitchen Island, Ceiling Fan(s), Pantry, Walk-in Shower
    Appliances
    Electric Oven, Electric Cooktop, Built-In Microwave, Refrigerator, Disposal, Dishwasher
    Standard status
    Active
    APN
    R04806-006-171-000
    Size
    3,096 SF
    Lot size
    0.12 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Lot 4 Blk 10 Love Grove Child Of Split From R04806-006-012-000
    Tax Annual Amount
    3137

    Utilities

    Heating system
    Electric (Heating), Heat Pump (Heating)
    Cooling system
    Ceiling Fan(s), Attic Fan, Central Air
    Water source
    Public

    Building Details

    Year built
    2023
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Lvt/lvp
    Building materials
    Vinyl Siding, Wood Frame
    Roof type
    Shingle

    We can help!

    Listing Contact
    The Domenico Grillo Real Estate Team

    Listing agent The Domenico Grillo Real Estate Team

    Listing office Keller Williams Innovate-Wilmington 1001 Military Cutoff Suite 101, Wilmington, NC

    Listing date Jun 4, 2026

    MLS# 100578967 Listing URL

    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.

    HighLights

    • 8 duplexes (16 total units) side‑by‑side on the same street, with each duplex on its own parcel
    • Each duplex has 2 units, each unit features 4 bedrooms and 2 full bathrooms
    • Approx. 1,548 SF per unit; total across all 16 units is approx. 24,768 SF
    • Built in 2023, with each unit having a private driveway and a fenced‑in backyard
    • Each unit includes a storage unit in the back; floor plan has 1 bedroom downstairs and 3 upstairs
    • Rent totals listed at $5,300/month per duplex (or $43,200/month for all 8 duplexes); leases are government backed through Sec 8

    Overview

    This offering is a package of eight duplexes sold together or separately, with each duplex located on its own parcel. The property features side-by-side construction, with every unit having a private driveway and a fenced-in backyard. Floor plans are described as one bedroom downstairs and three bedrooms upstairs. Interiors include granite countertops, stainless steel appliances, and waterproof flooring. Each unit also has storage in the back of the property.

    The duplexes are located in downtown Wilmington, North Carolina, in New Hanover County, and are zoned R-3. Public remarks indicate some units are currently vacant and some are occupied, providing a mix of tenancy scenarios for different buyer preferences.

    Each duplex contains two units, with each side identified as a 4-bedroom, 2-bath layout. The remarks state that leases may be supported through the Sec8 program, and tenants are described as meeting specific screening criteria, with the option to rent outside Sec8 if desired. Current income is reported per duplex in the remarks, and the package includes the ability to acquire one duplex, multiple duplexes, or the full set for centralized ownership and operations.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.932007
    Latitude
    34.25328

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    FAQs

    What type of property is this?
    Duplex - Eight side-by-side duplexes offer two private driveways and fenced backyards per unit, with on-site storage.
    Where is this duplex located?
    The property is located at 1411 Corbett Street Wilmington, NC.
    What is the asking price?
    The asking price for this property is $649,900.
    What are key features of this property?
    This property features: 8 duplexes (16 total units) side‑by‑side on the same street, with each duplex on its own parcel; Each duplex has 2 units, each unit features 4 bedrooms and 2 full bathrooms; Approx. 1,548 SF per unit; total across all 16 units is approx. 24,768 SF
    (910) 508-7387
    We can help!
    Listing Contact
    The Domenico Grillo Real Estate Team
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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