Closing Price:
$1,674,900
$1,674,900
8229 S Old Oregon Inlet Road,
Nags Head, NC 27959
10 bd
7 ba
4430 sq ft
MLS #: 113070
Status: Closed
Sold Details
Status: Closed
Sold Price: $1,665,000.00
Closing Date: 5/28/2021
Off Market Date: 3/29/2021
Contract Date: 4/10/2021
Seller Concessions: Yes
Concession Comments: $7500 closing costs
Total Days on Market:
Cumulative Days on Market: 36
Due Diligence Date: 5/15/2021
Listing Information
Area: S. N.H. East/Old Oregon R
Mls Status: Closed
Days On Market: 36
Cumulative Days On Market: 36
Listing Price: $1,674,900
Original Listing Price: $1,750,000
Possession: Close Of Escrow
Short Sale: No
Price Date: 5/29/2021
Furnishing Available: Yes
Ownership: Owned More than 12 Months
Listing Type: Exclusive Right To Sell
Building Details
Primary Heated Living Area Sq Ft: 4430
Asking Price Per SqFt: $378.00
Heated Living Area Sq Ft: 4430
BedroomsTotal: 10
Bathrooms Full: 7
Bathrooms Partial: 2
Year Built: 1999
Architectural Style: Reverse Floor Plan, Traditional
Sub Type: Single Family Residence
Appliances: 2nd Dishwasher, 2nd Refrigerator, Dryer, Dishwasher, Microwave, Refrigerator w/Ice Maker, Range/Oven, Washer
Roof: Asphalt
Parking: Off Street
Foundation: Slab
Pool: Yes
Pool Type: Private
Pool Features: Fiberglass, Heated, In Ground, Private
Counter Tops: Granite
Cooling: Central Air, Heat Pump
Interior Features: Cathedral Ceiling(s), Pantry, Wet Bar, Walk-In Closet(s)
Heating: Central, Heat Pump
Room Type: Foyer, Game Room, Utility Room
Flooring: Carpet, Ceramic Tile, Vinyl Tile
Construction Materials: Frame
Legal Description
Section: 3
County: Dare
Subdivision: Bodie Isl Beach
Subdivision Name: Bodie Island Beach
Deed Book: 2278
Deed Book Page Number: 0287
County Pin Number: 080020900398
Price Change: 5/28/2021
Block: 3
Road Surface: Public
Lot Details
Lot Size Acres: 0.44
Lot Size Square Feet: 19000
Lot Features: Beach Frontage, Irregular Terrain, Level
Waterfront: Ocean Front
View: Ocean
Property Type: Residential
Property Expenses & Utilities
Tax Year: 2020
Annual Property Taxes: $4,981.00
Water Source: Municipal
Contract Status Change Date: 5/29/2021
Estimated Annual Fee Amt: $0.00
Sewer: Septic Tank
Association Fee Yes or No: No - Restrictive Covenants May Apply
Financials
Bill Of Sale Amoung: 1
Bank/Institution Owned: No
Exterior: Vinyl
Extras: Beach Access,Boardwalk to Beach,Ceiling Fan(s),Central Vacuum,Hot Tub,Jet Tub,Outside Lighting,Outside Shower,Patio,Smoke Detector(s),Sun Deck,Inside Laundry Room
HOA Contact Name: N/A
Primary Residence: No
HOA Contact Info: N/A
Rental Income
There is no rental income information availableListing Agent Remarks
Turnkey moneymaker with 11% ROI and room for growth!!! As of March 7th, this fantastic investment property has nearly $200K Advertised Gross on the books ready to be turned over to the next lucky owner. Tons of listings proclaim the magical 10:1 ratio that most savvy investors live by when searching for their next income producing asset. With a 9% property management commission locked in and transferring to the new owner/buyer, the home has chance to hit that benchmark based on NET income, a claim very few can boast! In addition, with tons of updates recently completed including a new electric pool heater specifically added to entice even more off-season weeks, expectations are as much as 30 weeks and close to $200K are attainable. Did I mention this was all possible turnkey? With a starting point so strong, for the homeowner willing to take the next step, the earning potential for this cash cow is only limited to what you as the new owner can imagine. The three features recognized as being most important in establishing real estate value are location, location and location. Appropriately named “Serenity,” at approx. 4,400 sq. ft., protected by a firmly established, well vegetated dune line, in the highly desirable, less commercialized area of South Nags Head, with both views of the Ocean and Pea Island National Wildlife refuge, this vacation home reminds of the vacations that made our beaches so famous. Secluded and private with smaller public accesses few and far between. Also, we would be remiss to leave out the Nags Head Beach renourishment project when combined with the aforementioned strong dune line, makes this investment as safe as Oceanfront properties get. Safe from storms, monster income on the books and room for growth, investments do not get any sounder than this! Some of the more outstanding features and updates include: -Renovated and Refurnished “Coastal Modern” Great Room with Electric Fireplace -Renovated Kitchen with Granite Countertops & New Appliances -Brand new carpet, mattresses and electronics (FSTV’s) throughout -Large Game room with pool table and cabana bath -Two new hot water heaters -Two Laundry Stations and 2 Full Sized Refrigerators and Wet bars. -Electric Pool Heater -Dining table and breakfast bar both with ocean views seating as many as 20 guests Rental Property Investment is nothing but, a numbers game. Most purchases require buyers to keep playing that game, striving for numbers to get to the desired ratios. Booked solid, with an incredible rental package in place and ready to be turned over to you, “Serenity” is sure to be a winning investment for you and your family.
Directions
Bypass. Left at Whalebone Junction and right onto Old Oregon Inlet Rd. House is 0.6 miles on 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 8229 S Old Oregon Inlet Road in Nags Head is provided
courtesy of Sun Realty - KDH C: 252-441-8011. Information is believed to be accurate but is not
warranted. Copyrighted by Outer Banks Association of REALTORS. All Rights Reserved. IDX
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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 8229 S Old Oregon Inlet Road in Nags Head 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
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