  We present a comprehensive X-ray point source catalog of NGC 404 obtained as
part of the Chandra Local Volume Survey. A new, 97 ks Chandra ACIS-S
observation of NGC 404 was combined with archival observations for a total
exposure of ~123 ks. Our survey yields 74 highly significant X-ray point
sources and is sensitive to a limiting unabsorbed luminosity of ~6x10^35 erg
s^-1 in the 0.35-8 keV band. To constrain the nature of each X-ray source,
cross-correlations with multi-wavelength data were generated. We searched
overlapping HST observations for optical counterparts to our X-ray detections,
but find only two X-ray sources with candidate optical counterparts. We find 21
likely low mass X-ray binaries (LMXBs), although this number is a lower limit
due to the difficulties in separating LMXBs from background AGN. The X-ray
luminosity functions (XLFs) in both the soft and hard energy bands are
presented. The XLFs in the soft band (0.5-2 keV) and the hard band (2-8 keV)
have a limiting luminosity at the 90% completeness limit of 10^35 erg s^-1 and
10^36 erg s^-1, respectively, significantly lower than previous X-ray studies
of NGC 404. We find the XLFs to be consistent with those of other X-ray
populations dominated by LMXBs. However, the number of luminous (>10^37 erg
s^-1) X-ray sources per unit stellar mass in NGC 404 is lower than is observed
for other galaxies. The relative lack of luminous XRBs may be due to a
population of LMXBs with main sequence companions formed during an epoch of
elevated star formation ~0.5 Gyr ago.
