Closing Price:
$999,000
1123 Morris Drive, Corolla, NC 27927
5 bd
6 ba
2426 sq ft
MLS #: 121901
Status: Closed

Sold Details

Status: Closed
Sold Price: $1,034,000.00
Closing Date: 5/10/2023
Contract Date: 4/12/2023
Seller Concessions: Yes
Concession Comments: $19,000 concession for repair items
Total Days on Market:
Cumulative Days on Market: 6
Due Diligence Date: 4/26/2023

Listing Information

Area: Corolla Oceanside
Mls Status: Closed
Days On Market: 6
Cumulative Days On Market: 6
Listing Price: $999,000
Original Listing Price: $999,000
Possession: Close Of Escrow
Short Sale: No
Price Date: 5/15/2023
Furnishing Available: Yes
Ownership: Owned More than 12 Months
Listing Type: Exclusive Right To Sell

Building Details

Primary Heated Living Area Sq Ft: 2426
Asking Price Per SqFt: $412.00
Heated Living Area Sq Ft: 2426
BedroomsTotal: 5
Bathrooms Full: 6
Bathrooms Partial: 1
Year Built: 1987
Garage: Carport,None
Architectural Style: Reverse Floor Plan, Coastal
Sub Type: Single Family Residence
Appliances: 2nd Refrigerator, Dryer, Dishwasher, Microwave, Refrigerator w/Ice Maker, Range/Oven, Washer
Roof: Asphalt
Parking: Off Street, Paved, Underground
Foundation: Piling, Slab
Pool: Yes
Pool Type: Private and Association
Pool Features: Association, Fiberglass, Heated, In Ground, Outdoor Pool, Private
Counter Tops: Corian
Cooling: Central Air, Heat Pump, Zoned
Interior Features: Beamed Ceilings, Cathedral Ceiling(s)
Heating: Central, Heat Pump, Zoned
Room Type: Foyer
Flooring: Carpet, Tile
Construction Materials: Frame, Wood Siding

Legal Description

County: Currituck
Subdivision: Corolla Light
Subdivision Name: Corolla Light
Deed Book: 1621
Deed Book Page Number: 530
County Pin Number: 115B00007380000
Price Change: 5/14/2023
Road Surface: Paved, Private
Association Amenities: Clubhouse, Common Area, Gated, Fitness Center, Indoor-Comm. Pool, Indoor-Comm. Tennis, Ocean Access, Outdoor-Comm. Pool, Outdoor-Comm. Tennis, Playground, Park, Racquetball, Sound Access

Lot Details

Lot Features: Cul-De-Sac, Level
Lot Faces: S
Waterfront: None
View: Ocean
Property Type: Residential

Property Expenses & Utilities

Tax Year: 2022
Annual Property Taxes: $3,343.00
Flood Zone: X
Water Source: Municipal
Contract Status Change Date: 5/15/2023
Estimated Annual Fee Amt: $3,662.00
Sewer: Public Sewer
Association Fee Includes: Electricity, Common Insurance, Maintenance Grounds, Management, Pool, Road Maintenance, Security, Sewer/Septic, Tennis Courts, Walkways
Association Fee Yes or No: Yes

Financials

Bill Of Sale Amoung: 1
Electroni Locks: Leased
Bank/Institution Owned: No
Exterior: Cement Fiber Board,Lap Siding,Wood
Extras: Ceiling Fan(s),Covered Decks,Fenced Yard,Hot Tub,Landscaped,Outside Lighting,Outside Shower,Patio,Smoke Detector(s),Sun Deck,Dry Entry,Inside Laundry Room
Fuel Tanks: None
HOA Contact Name: Corolla Light HOA
Primary Residence: No
HOA Contact Info: 252-453-2455

Rental Income

Annual Rental Income: 120274
Rental Performance: 0.1163
Owner Renatl Income 2023 Amount: 65240
Avertised Income 2023 Amount: 71410
Owner Renatl Income 2022 Amount: 66910
Avertised Income 2021 Amount: 71386
Owner Rental Income 2021 Amount: 51117
Avertised Income 2021 Amount: 58831

Listing Agent Remarks

This Corolla Light gem has it all and is one of a kind! This is the outstanding location you have been waiting for! The large, open great room with high ceilings and lots of light is delightful. Enjoy the peaceful sounds of ocean waves from a spacious prow front design that will delight both young and old in this bright, well-equipped beach house that's comfortable and centrally located close to the beach and neighborhood amenities. It's easy beach living at its best. The oceanside location in the fantastic Corolla Light community can't be beat with just a short 5 minute walk to the stunning lifeguarded beach or oceanfront community amenities including 3 oceanfront pools with poolside dining, playgrounds, basketball courts, shuffleboard, planned activities and more! Bike or take the community trolley (seasonal) to the indoor sports center featuring indoor pool, hot tub, exercise room and indoor tennis. Or, walk 5 minutes in the other direction to the beautiful soundside trails for the very best sunsets and kayaking. Also, nearby is the Currituck Heritage park housing the historic Whalehead Club and Currituck Lighthouse. Corolla Village is just beyond and features a BBQ restaurant, smoothie window, well-stocked bookshop, artist cooperative with local art to find a keepsake from your trip and so much more! Don't miss the lighthouse views as it lights up the OBX night sky. Just a short walk to the beach or oceanfront community amenities or take the community trolley (seasonal) to the indoor pool. Or, enjoy the spectacular pool and game lounge area at home with bar, TV, fridge, ping pong, and new hot tub. The recreational area on the first level is exceptional! Each of the 5 bedrooms has their own bathroom and 4 are master suites. The kitchen was updated with new appliances in 2018/2019. This is a lovely home that has been carefully maintained. The current owners had all the plumbing redone in 2022. The hot water heater was new in 2021. New hot tub in 2021. The pool heater was installed in 2020, 2 bathrooms were added, 2 additional ground level storage rooms were built, new deck furniture, New flooring throughout, new ceiling fans installed, pool cabana area was added, outdoor bathroom and shower area was added, 8 TV's were replaced with flat screen TV's, bedroom furniture was replaced in 2016, 2nd level HVAC was replaced in 2018, Tile shower in master suite in 2018. The current owner has blocked all off season/shoulder rentals and uses the home during peak season so the rental potential is much greater than current numbers. Please ask to see the rental projections!

Directions

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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 1123 Morris Drive in Corolla is provided courtesy of Brindley Beach Vacations-Duck C: 252-202-6165. 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 1123 Morris Drive 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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