Closing Price:
$720,000
$720,000
503 Magnolia Way,
Corolla, NC 27927
4 bd
3 ba
2274 sq ft
MLS #: 118933
Status: Closed
Sold Details
Status: Closed
Sold Price: $720,000.00
Closing Date: 6/16/2022
Contract Date: 5/20/2022
Seller Concessions: No
Total Days on Market:
Cumulative Days on Market: 1
Due Diligence Date: 5/22/2022
Listing Information
Area: Corolla Westside
Mls Status: Closed
Days On Market: 1
Cumulative Days On Market: 1
Listing Price: $720,000
Original Listing Price: $720,000
Possession: Close Of Escrow
Short Sale: No
Price Date: 5/19/2022
Furnishing Available: Yes
Ownership: Owned More than 12 Months
Listing Type: Exclusive Right To Sell
Building Details
Primary Heated Living Area Sq Ft: 2274
Asking Price Per SqFt: $317.00
Heated Living Area Sq Ft: 2274
BedroomsTotal: 4
Bathrooms Full: 3
Bathrooms Partial: 1
Year Built: 1997
Garage: 1 Car,Attached
Architectural Style: Reverse Floor Plan, Coastal
Sub Type: Single Family Residence
Appliances: Dryer, Dishwasher, Microwave, Refrigerator w/Ice Maker, Range/Oven, Washer
Roof: Asphalt
Parking: Paved
Foundation: Piling
Pool: Yes
Pool Type: Private and Association
Pool Features: Association, Fiberglass, In Ground, Private
Counter Tops: Granite,Other
Cooling: Central Air, Heat Pump
Interior Features: Pantry, Walk-In Closet(s)
Heating: Central, Heat Pump
Room Type: Foyer, Pantry
Flooring: Carpet, Ceramic Tile
Construction Materials: Frame
Legal Description
County: Currituck
Subdivision: TCC-Magnolia Bay
Subdivision Name: Magnolia Bay
Deed Book: 1335
Deed Book Page Number: 369
County Pin Number: 127D00000340000
Price Change: 6/17/2022
Road Surface: Paved
Association Amenities: Clubhouse, Gated, Golf Course, Fitness Center, Ocean Access, Outdoor-Comm. Pool, Outdoor-Comm. Tennis, Playground
Lot Details
Lot Size Acres: 0.05
Lot Features: Adj. To Common Area, Cul-De-Sac
Waterfront: Semi-Soundfront
View: Sound
Property Type: Residential
Property Expenses & Utilities
Tax Year: 2021
Annual Property Taxes: $2,528.00
Flood Zone: AE
Flood Insurance Expense: 943
Wind Insurance: 3550
Water Source: Municipal
Contract Status Change Date: 6/18/2022
Estimated Annual Fee Amt: $5,920.00
Sewer: Shared Septic
Association Fee Includes: Electricity, Common Insurance, Maintenance Grounds, Management, Pool, Road Maintenance, Security, Tennis Courts
Association Fee Yes or No: Yes
Financials
Bill Of Sale Amoung: 1
Electroni Locks: Leased
Bank/Institution Owned: No
Listing Restrictions: See Broker Notes
Exterior: Cement Fiber Board
Extras: Beach Access,Ceiling Fan(s),Garage Door Opener,Hot Tub,Landscaped,Lawn Sprinklers,Outside Shower,Sun Deck,Whirlpool/Spa
Fuel Tanks: Leased
HOA Contact Name: TCC-Magnolia Bay
Primary Residence: No
HOA Contact Info: Craig Atwater610.283.2518
Rental Income
Annual Rental Income: 78604
Rental Performance: 0.1092
Listing Agent Remarks
Beautiful well maintained spacious 4 bedroom 3.5 bath home located in cul de sac in the prestigious Magnolia Bay section of The Currituck Club. Estimated Rental Projection w/ 10.9% GRI. Some recent Improvements include: 2022 - New Heat Pump & Air handler. 2021- Painted oak DR table,New Grill. 2020- Interior painted. 2019 - Exterior Painted. 2017 - Installed new tile kitchen floor, granite counter tops, tile back splash, new SS sink & faucets, Replaced front treads & risers, installed new linear fireplace w/ new mantel and tile, New Dishwasher & Microwave. 2016 - New Seamless gutters and downspouts for entire house, new 50 AMP sub panel in garage & 2 new 20 amp receptacles, power washed, cleared coated decks, installed epoxy coat floor in garage, added privacy lattice around hot tub. 2015 - New Slider in Living Room, Replaced some siding & exterior walls of outdoor shower, Replaced Handrails by hot tub, above hot tub, built 2 new pool gates to code & installed at both stairs down from hot tub deck. - Just to name a few improvements. Decks have top quality outdoor furniture as Lower Front Deck & Top Level rear Deck have Everlasting Composite white furniture. Additionally sellers continually replaced/ upgraded kitchen items. Check out the kitchen items in the cabinets & drawers. Top level is bright & open w/ beautifully updated Kitchen, Dining Room, Family Room, Powder Room & a private huge King MasterBedroom/Bath wi/Jacuzzi & Walk In Closet. First Level features 3 bedrooms of which one is a Master Queen Bedroom w/private bath. The third bedroom has Twin Beds & shares a bath w/ the 4 th bedroom that has a Queen Bed. This home offers a lot of sun and shaded areas to relax with everyone or quiet time for yourself. Pool area is very Private & Spacious with enclosed outdoor shower and Hot Tub located above the pool in a very private location on the midlevel deck. Over looking the pool on 1 st level is one of three porches to enjoy the shade & outdoor living at it's finest. Large Deck on top level faces the pool and can be accessed from the pool area or the Dining Room. It is the perfect area to take in some sun while watching all the fun at the pool. The peaceful outdoor living continues to the front porch & also to the top level 2nd front porch w/Sound Views which leads to the Family Room. Garage is used as a Rec Room that is not air conditioned /not heated & has a mini pool table & foosball table. Estimated Rental Income is Strong w/ $78,604 Projected Estimated Advertised Gross Rental Income w/ 10.9 GRI. This home is situated in a very Peaceful Private setting on a cul de sac. Landscapping and yard maintenance are included in the Association Dues. So just sit back and enjoy your family, the beach and/or golf. The best, is that this home is located in Magnolia Bay at the south end of The Currituck Club & is just a short walk to the beach (or 5 minute golf cart ride to the beach) & less than 10 minute walk to the Magnolia Bay community pool and tennis courts. Just steps to the Trolley stop that will take you and your family to the beach during in season at no charge. The Currituck Club is one of the few gated communities in Corolla, & offers exclusivity & an extra element of safety & security. Additionally, the Currituck Club is a prestigious neighborhood in Corolla & is the home to the Premier Reese Jones 18 hole Championship Golf Course w/ gorgeous landscaping & lots of amenities such as: Fitness Center, Pro Shop, full service Grill, several community Pools, 7 Tennis Courts, Basketball courts, VolleyBall, Shuffleboard, Playground, Gated Community, Lighted Pedestrian walkways & Bike Paths, plus In Season Shuttle to the Beach. This is a beautiful well maintained home & just a short walk to the beach. If you are looking for an updated well maintained beach home w/a pool, garage, Sound Views & located in a quiet gorgeous neighborhood w/short walk to the beach, then this is the home for you! Call now to schedule your appointment.
Directions
Rt 12 North. Enter at the Main Entrance next to Harris Teeter.Go through the Guard Gate, Turn Left on Hunt Club Drive .Drive about 2 miles to the 2nd to last street Take a Right on Magnolia Way. Drive straight to the end of the Cul De Sac and home is on the left.Official MLS Disclaimer
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