Closing Price:
$715,000
507 Magnolia Way, Corolla, NC 27927
4 bd
3 ba
2354 sq ft
MLS #: 120538
Status: Closed

Sold Details

Status: Closed
Sold Price: $740,000.00
Closing Date: 11/30/2022
Contract Date: 10/12/2022
Seller Concessions: No
Total Days on Market:
Cumulative Days on Market: 3
Due Diligence Date: 11/18/2022

Listing Information

Area: Corolla Westside
Mls Status: Closed
Days On Market: 3
Cumulative Days On Market: 3
Listing Price: $715,000
Original Listing Price: $715,000
Possession: Close Of Escrow
Short Sale: No
Price Date: 12/1/2022
Furnishing Available: Yes
Ownership: Owned More than 12 Months
Listing Type: Exclusive Right To Sell

Building Details

Primary Heated Living Area Sq Ft: 2354
Asking Price Per SqFt: $304.00
Heated Living Area Sq Ft: 2354
BedroomsTotal: 4
Bathrooms Full: 3
Bathrooms Partial: 1
Year Built: 2000
Garage: 1 Car,Attached
Architectural Style: Reverse Floor Plan, Coastal
Sub Type: Single Family Residence
Appliances: Dryer, Dishwasher, Microwave, Refrigerator, Range/Oven, Washer
Roof: Asphalt
Parking: Off Street, Paved
Foundation: Piling
Pool: Yes
Pool Type: Private and Association
Pool Features: Association, In Ground, Outdoor Pool, Private
Counter Tops: Laminate
Cooling: Central Air, Heat Pump
Interior Features: Cathedral Ceiling(s), Pantry, Walk-In Closet(s)
Heating: Central, Heat Pump
Flooring: Carpet, Ceramic Tile, Tile, Wood
Construction Materials: Frame, Wood Siding

Legal Description

County: Currituck
Subdivision: TCC-Magnolia Bay
Subdivision Name: Magnolia Bay/127D
Deed Book: 1331
Deed Book Page Number: 750
County Pin Number: 127D00000360000
Price Change: 11/30/2022
Block: 1
Road Surface: Paved, Private
Association Amenities: Clubhouse, Gated, Golf Course, Fitness Center, Ocean Access, Outdoor-Comm. Pool, Outdoor-Comm. Tennis, Playground

Lot Details

Lot Size Acres: 0.12
Lot Features: Level
Waterfront: Semi-Soundfront
View: Sound
Property Type: Residential

Property Expenses & Utilities

Tax Year: 2022
Annual Property Taxes: $2,619.00
Flood Zone: X
Water Source: Municipal
Contract Status Change Date: 12/1/2022
Estimated Annual Fee Amt: $5,950.00
Sewer: Shared Septic
Association Fee Includes: Electricity, Common Insurance, Maintenance Grounds, Management, Pool, Road Maintenance, Security, Tennis Courts, Walkways
Association Fee Yes or No: Yes

Financials

Bill Of Sale Amoung: 1
Bank/Institution Owned: No
Listing Restrictions: See Broker Notes
Exterior: Cement Fiber Board
Extras: Ceiling Fan(s),Covered Decks,Garage Door Opener,Hot Tub,Jet Tub,Landscaped,Lawn Sprinklers,Outside Lighting,Outside Shower,Patio,Screened Porch,Sun Deck
HOA Contact Name: TCC- Heidi Corsello
Primary Residence: Yes
HOA Contact Info: (252) 453-4011

Rental Income

Annual Rental Income: 81384
Rental Performance: 0.11

Listing Agent Remarks

Sound Views! Gorgeous Sunsets! Beautiful well maintained and updated spacious 4 bedroom 3.5 bath home located by a cul de sac in the prestigious Magnolia Bay section of The Currituck Club. Top level is bright & open w/ beautifully updated Kitchen, Dining Room, Great Room, Powder Room & a private huge Ensuite Bedroom/Bath w/Jacuzzi & Walk In Closet. First Level features 3 bedrooms of which one is an Ensuite Queen Bedroom w/private bath. The third bedroom is currently being used as an office & shares a bath w/ the 4 th bedroom that is currently being used as a Den. 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. Large Deck on top level faces the pool and can be accessed from the pool area or the upper level. Over looking the pool on 1 st level is one of three porches to enjoy the shade & outdoor living at it's finest. 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 where you can experience Sunsets and Sound views & also to the top level screened in front porch w/ Sound Views which leads to the Great Room. This home is situated in a very Peaceful Private setting. ESTIMATED ADVERTISED RENTAL PROJECTION is $81,384 which is an 11.3% GRI. Landscapping and yard maintenance are included in the Association Dues. So just sit back & enjoy your family & friends, the beach and/or golf. New Fortified Roof scheduled to be installed before the end of October 2022 which will reduce insurance costs. Some Recent Improvements include: 2017 to 2022 - Screened in Front Porch, Vanity w/double sinks, Kohler faucets & engineered marble top in Main Ensuite Bedroom, Exterior Paint and decks stained, New Deck Flooring on rear upper deck, staircase to lower rear level, and front steps, New Washer. 2015 to 2016 -Hand scraped Maple Floors installed in upper level Living area, Ensuite Bedroom and lower level bedrooms, Quality new appliances- Dishwasher, Induction Range,Microwave, Refrigerator, Dryer, Closet organizers, Upper Level Heat Pump replaced, Pool Safety Cover. Just to name a few improvements. 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, 6 Tennis Courts, Basketball courts, VolleyBall, Pickleball, Shuffleboard, Playground, Gated Community, Lighted Pedestrian walkways & Bike Paths, plus In SeasonShuttle 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, Sunsets & 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, Turn west to main gate next to Harris Teeter. Stop at Main gate . Left on Hunt Club Drive. Drive almost 2 miles, then turn Right on Magnolia Way. House is on the Left just before the Cul de Sac.

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 507 Magnolia Way in Corolla is provided courtesy of Corolla Beach Realty . 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 507 Magnolia Way 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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