Two-Residence Multifamily
4408 Mcclelland Drive, Wilmington, NC 28405
For Sale
$745,000
Residential Income, Wilmington, NC
Property Size2,638 SF
Lot Size0.34 Acres
Price / SF$282.41
Days on Market94
Property Features for 4408 Mcclelland Drive
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Patio and Porch features
Interior features
Appliances
Subdivision
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Legal Description
Utilities
Utilities
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
eXp Realty
(888) 584-9431
Listed By:
Aspyre Collective
(910) 241-0404
Added: Aug 11
Changed: Nov 11
Last Checked: Nov 12 at 8:06AM
MLS# 100595408
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.
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Investment Insights
Based on property information with market context.
This multifamily property consists of two detached homes on a 0.344-acre parcel, with 2,638 square feet of combined building area. The front residence is single-story and has three bedrooms and two bathrooms; the rear home spans two stories and includes three bedrooms and three bathrooms. Built in 1996, the property is zoned R-10. Interior and exterior features include vaulted ceilings, patios, a porch, and a deck.
The property is in Wilmington, approximately 5–10 minutes from Downtown, UNCW, and I-40, and about a 15-minute drive from Wrightsville Beach. Water is available, and the water source is public.
The two-home layout allows for independent occupancy or for one residence to be used while the other is rented, as described in the property information.
The property is in Wilmington, approximately 5–10 minutes from Downtown, UNCW, and I-40, and about a 15-minute drive from Wrightsville Beach. Water is available, and the water source is public.
The two-home layout allows for independent occupancy or for one residence to be used while the other is rented, as described in the property information.
Key Highlights
- Two detached homes on a 0.344‑acre parcel
- 2,638 square feet of building area
- Front residence: 3 bedrooms, 2 bathrooms, single‑story
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,009
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$460,180
$460.2K
Cap Rate 7%
$328,700
$328.7K
Cap Rate 9%
$255,656
$255.7K
Market Conditions
NOI Build-Up for 2,638 SF
Gross rent
$46.5K $17.64/SF
− Vacancy
−$4.7K −$1.78/SF
EGI
$41.8K $15.86/SF
− OpEx
−$18.8K −$7.14/SF
NOI
$23.0K $8.72/SF
Area
New Hanover County, NC
Vacancy
10.10%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$460,180
Cap Rate 7%
$328,700
Cap Rate 9%
$255,656
Alternative Uses
Best Use
Apartment 5plus
$328.7K
$287.6K – $383.5K
NOI $23,009 @ 7.0% cap · market cap 3.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$660.2K
$577.6K – $770.2K
NOI $46,211 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
816
Businesses Nearby
Explore this area
Business Placement
Demographics for 28405, NC
31,775
Population
17,073
Households
1.9
Avg Household Size
41
Median Age
41%
College-Educated
91%
High-School Grad
23.5 sq mi
ZIP Area
1,352
Density / Sq Mi
$67,809
Median Household Income
$41,265
Median Earnings
$1,405
Median Rent
$337,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Multifamily properties in Wilmington, NC
Properties on Market for Multifamily properties in Wilmington
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two detached residences share one parcel, with potential for separate household occupancy or rental use.
Where is this multifamily property located?
The property is located at 4408 Mcclelland Drive Wilmington, NC.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: Two detached homes on a 0.344‑acre parcel; 2,638 square feet of building area; Front residence: 3 bedrooms, 2 bathrooms, single‑story
