Do you actually plan to go offroad? Serious offroading? Or light offroading?
For light offroading the newer Sport Tracs 07+ would probably be ok. The newer ones are hard to lift and don't have a solid rear axle.
For serious offroading you would want the older ones 01-05 because they have a solid rear axle.
But yes, your 02 has all the mount holes for the 4x4 hardware. Here's a quick and dirty list of things you need to buy/replace and may not be complete...
- 2 4x4 Spindles
- 2 Wheel Bearing/Hub Assembly-Front
- 2 CV Halfshafts
- 1 Front Dana35 IFS Axle
- 1 4x4 Transmission(auto or manual) **note - you could have your tranny modified with the rear 4x4 output but a transmission shop would have to do the work and it might cost you just as much as finding a used 4x4 transmission.
- 1 Front Driveshaft
- 1 Rear Driveshaft
- 1 BW1354 Manual Transfer Case(easiest to install) or BW1354 Electric Transfer Case and 4x4 module and switch.
Optional hardware...
- 1 transfer case skidplate
- 1 gas tank skidplate
As for engine performance for the 4.0L SOHC engine...
- Chip and tuner
- Exhaust headers
- Exhaust Y-pipe
- Performance muffler
- Performance intake system/filter(K&N??)
- Supercharger - they cost about $4000+
You could possible swap in an Explorer 5.0L engine. But you would need to look into if that would pass Emission testing in your area.