Closing Price:
$2,450,000
511 Breakers Arch, Corolla, NC 27927
11 bd
11 ba
6222 sq ft
MLS #: 118828
Status: Closed

Sold Details

Status: Closed
Sold Price: $2,320,000.00
Closing Date: 12/20/2022
Contract Date: 11/2/2022
Seller Concessions: No
Total Days on Market:
Cumulative Days on Market: 175
Due Diligence Date: 11/30/2022

Listing Information

Area: Corolla Oceanside
Mls Status: Closed
Days On Market: 175
Cumulative Days On Market: 175
Listing Price: $2,450,000
Original Listing Price: $2,790,000
Possession: Subject To Tenant Rights
Short Sale: No
Price Date: 12/20/2022
Furnishing Available: Yes
Bill Of Sale Amount: Yes
Ownership: Owned More than 12 Months
Listing Type: Exclusive Right To Sell

Building Details

Primary Heated Living Area Sq Ft: 6222
Asking Price Per SqFt: $394.00
Heated Living Area Sq Ft: 6222
BedroomsTotal: 11
Bathrooms Full: 11
Bathrooms Partial: 2
Year Built: 2005
Garage: None
Architectural Style: Reverse Floor Plan, Coastal
Sub Type: Single Family Residence
Appliances: 2nd Dishwasher, 2nd Refrigerator, Countertop Range, Dryer, Dishwasher, Ice Maker, Microwave, Refrigerator, Washer, Wall Oven
Roof: Asphalt
Parking: Off Street, Paved
Foundation: Piling, Slab
Pool: Yes
Pool Type: Private
Pool Features: Concrete, Custom, Heated Salt, In Ground, Outdoor Pool, Private
Builder Name: Olin Finch
Counter Tops: Quartz
Cooling: Central Air, Heat Pump
Heating: Central, Forced Air
Room Type: Foyer, Game Room, Home Theater
Flooring: Carpet, Ceramic Tile, Vinyl Tile, Wood
Construction Materials: Frame, Wood Siding

Legal Description

Section: A
County: Currituck
Subdivision: Ocean Sands
Deed Book: 1503
Deed Book Page Number: 391
County Pin Number: 126A0000022000A
Price Change: 12/19/2022
Block: -
Road Surface: Paved
Association Amenities: Ocean Access

Lot Details

Lot Size Acres: 0.52
Lot Size Square Feet: 22610
Lot Features: Corner Lot
Waterfront: 4 - lots from oceanfront (5th row)
View: Ocean
Property Type: Residential

Property Expenses & Utilities

Tax Year: 2021
Annual Property Taxes: $6,237.00
Home Oner Insurance Expense: 12587
Flood Zone: X
Flood Insurance Expense: 707
Other Expenses 3: 300
Water Source: Municipal
Yearly Water Expense: 4214
Other Yearly Expense: 3800
Pool Or Spa Expense: 4265
Yearly Elecric Expense: 6870
Yearly Cable Tv Expense: 2515
Contract Status Change Date: 12/20/2022
Estimated Annual Fee Amt: $125.00
Sewer: Septic Tank
Other Expenses 2: 500
Association Fee Yes or No: Voluntary - Restrictive Covenants May Apply

Financials

Bill Of Sale Amoung: 1
Electroni Locks: Leased
Bank/Institution Owned: No
Exterior: Lap Siding
Extras: Beach Access,Boardwalk to Beach,Ceiling Fan(s),Covered Decks,Elevator,Hot Tub,Landscaped,Lawn Sprinklers,Outside Lighting,Outside Shower,Screened Porch,Smoke Detector(s),Sun Deck,Tiki Bar,Roof Top Deck,Inside Laundry Room
Fuel Tanks: Leased
HOA Contact Name: Margie Gaitens
Primary Residence: No
HOA Contact Info: osspoa.org

Rental Income

Annual Rental Income: 286000
Rental Performance: 0.1233
Owner Renatl Income 2022 Amount: 204590
Avertised Income 2021 Amount: 221308
Owner Rental Income 2021 Amount: 165820
Avertised Income 2021 Amount: 176889

Listing Agent Remarks

Updated, remodeled, renovated and ready to go. Tremendous rental income on the books this year, again! $260,000 on the books with adding back in an owners' prime week at the end of June. Oh, let's not forget, a nice bonus is on the way for 2023! Quality construction by reputable contractor Olin Finch. This home is perched atop a dune providing views of the ocean and protection from stormwaters. Located just before the oceanfront cul-de-sac, ocean access is easier and faster than 3rd and 4th row homes in most Corolla neighborhoods. Actually, ocean access is closer than some semi-oceanfront homes in Whalehead! Not only is access easier, you have a pristine, uncrowded beach just south of the access. Adjacent to this section of Ocean Sands is undeveloped Open Space. Not only is the location great, the condition is fantastic. Many updates to share: *2020 replaced 2 washers and dryers, installed new septic field, expanded pool area, added 2 HE hot water heaters, re-sided and painted the entire house, replaced 10 windows *2021 one new HVAC system, new pool heater and salt system, new outdoor furniture and swing *2022 brand new kitchen!, new carpet and LVP flooring, new living/dining furniture, some new bedroom furniture, smart TV's throughout the home and another new HVAC system. Let's top it off with that bonus...2023 rental rates are set $1,000 higher for each week, and yes, weeks are booking already with over $180,000 worth of reserved weeks!

Directions

Turn into section A, take a right on Breakers Arch, house at the curve on the left.

Official MLS Disclaimer

The data relating to real estate for sale on this web site comes from the Broker Reciprocity Program of the Outer Banks Association of REALTORS. This property located at 511 Breakers Arch in Corolla is provided courtesy of Brindley Beach Vacations & Sales - KH C: 252-261-2186. Information is believed to be accurate but is not warranted. Copyrighted by Outer Banks Association of REALTORS. All Rights Reserved. IDX information is provided by Shore Realty of the OBX exclusively for consumers, personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. If this page disappears from this site it means the property at 511 Breakers Arch in Corolla is no longer available for sale. If you are interested in this property or have any questions about buying or selling real estate on the Outer Banks call Shore Realty. Local 252-441-3416 OR 800-647-1868.
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