Renovated Duplex for Live-Work
For Sale
$895,000
8 S 7th Street, Wilmington, NC 28401
MULTI_FAMILY - Wilmington, NC
Property Size3,166 SF
Lot Size0.06 Acres
Price / SF$282.69
Days on Market349
Property Features for 8 S 7th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
HD
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 2, Bedroom 6, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 3, Bathroom 1
Parking features
On Street
Patio and Porch features
Porch
Interior features
High Ceilings, Ceiling Fan(s)
Appliances
Electric Oven, Washer, Refrigerator, Dryer, Dishwasher
Subdivision
Historic District
Elementary school
Snipes
Middle school
Williston
High school
New Hanover
Directions
from Downtown take Market Street east, turn right on S 7th Street and building in on the right.
Standard status
Active
APN
R04817-038-012-000
Size
3,166 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Pt Lts 2/3 Blk 157
Tax Annual Amount
2711
Legal Description
Pt Lts 2/3 Blk 157
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1918
Floors in Building
2
Number of units
2
Flooring type
Tile, Wood
Building materials
Wood Siding, Wood Frame
Roof type
Metal
Listing Agency:
Intracoastal Realty Corporation
(910) 256-4503
Listed By:
Jeffrey G Hovis · License #234605
(910) 512-2205
Added: Aug 19, 2025
Changed: Jul 31
Last Checked: Aug 2 at 4:06AM
MLS# 100525838
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.
Renovated duplex offering flexible live-work use, with interior features including high ceilings and ceiling fans, plus a porch and on-street parking. The residential layout is described as featuring three bedrooms and two updated bathrooms, supported by modern finishes. For commercial use, the flexible floor plan is described as accommodating private offices, meeting rooms, a break area, and two restrooms, which may support a range of office-oriented or gallery-style uses.
The property is located in Historic Downtown Wilmington, with zoning listed as HD. Utilities include natural gas available, and the home is served by public water. Heating is forced air with electric heating, and cooling is central air. Construction materials include wood siding and wood frame, and the roof is metal.
Built in 1918, this duplex totals 3,166 square feet on a 0.056-acre lot, and includes interior flooring of tile and wood, along with an electric oven, dishwasher, washer, dryer, and refrigerator.
The property is located in Historic Downtown Wilmington, with zoning listed as HD. Utilities include natural gas available, and the home is served by public water. Heating is forced air with electric heating, and cooling is central air. Construction materials include wood siding and wood frame, and the roof is metal.
Built in 1918, this duplex totals 3,166 square feet on a 0.056-acre lot, and includes interior flooring of tile and wood, along with an electric oven, dishwasher, washer, dryer, and refrigerator.
Key Highlights
- Zoned HD for both residential and commercial use
- Renovated duplex with flexible residential and commercial floor plan
- 3,166 SF on a 0.056‑acre lot
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.1k | $20.88 |
| − Vacancy | −$12.5k | −$3.95 |
| EGI | $53.6k | $16.93 |
| − OpEx | −$13.4k | −$4.23 |
| NOI | $40.2k | $12.70 |
3,166 SF · lease $20.88/SF/yr · vacancy 18.90% · expense 25.00%
Alternative Uses
Best Use
Multifamily LT 5
$38.77M
$33.92M – $45.23M
NOI $2,713,607 @ 7.0% cap · market cap 303.20%
Second Best
Mixed Use
$38.18M
$33.41M – $44.54M
NOI $2,672,432 @ 7.0% cap · market cap 298.60%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,297
Businesses Nearby
Explore this area
Business Placement
Demographics for 28401, NC
22,204
Population
13,017
Households
1.7
Avg Household Size
41
Median Age
34%
College-Educated
88%
High-School Grad
31.0 sq mi
ZIP Area
716
Density / Sq Mi
$52,159
Median Household Income
$35,739
Median Earnings
$1,183
Median Rent
$263,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Renovated duplex in Historic Downtown Wilmington zoned HD, with flexible residential and commercial space configurations.
Where is this duplex located?
The property is located at 8 S 7th Street Wilmington, NC.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Zoned HD for both residential and commercial use; Renovated duplex with flexible residential and commercial floor plan; 3,166 SF on a 0.056‑acre lot
