Listing Details For 1487 Ocean Pearl Road in Corolla
Closing Price:
$2,795,000
$2,795,000
1487 Ocean Pearl Road,
Corolla, NC 27927
18 bd
12 ba
10200 sq ft
MLS #: 113672
Status: Closed
Sold Details
Status: Closed
Sold Price: $2,550,000.00
Closing Date: 4/29/2021
Contract Date: 4/17/2021
Seller Concessions: No
Total Days on Market:
Cumulative Days on Market: 297
Listing Information
Area: 4-Wheel Drive Area
Mls Status: Closed
Days On Market: 297
Cumulative Days On Market: 297
Listing Price: $2,795,000
Original Listing Price: $2,795,000
Possession: Close Of Escrow, Subject To Tenant Rights
Short Sale: No
Price Date: 4/29/2021
Furnishing Available: Yes
Ownership: Owned More than 12 Months
Listing Type: Exclusive Right To Sell
Building Details
Primary Heated Living Area Sq Ft: 10200
Asking Price Per SqFt: $274.00
Heated Living Area Sq Ft: 10200
BedroomsTotal: 18
Bathrooms Full: 12
Bathrooms Partial: 3
Year Built: 1996
Garage: 3 + Car
Architectural Style: Contemporary, Coastal
Sub Type: Single Family Residence
Appliances: 2nd Dishwasher, 2nd Refrigerator, Countertop Range, Dryer, Dishwasher, Freezer, Ice Maker, Microwave, Refrigerator w/Ice Maker, Range/Oven, Washer, Wine Cooler, Wall Oven
Roof: Asphalt
Parking: Off Street, Paved
Foundation: Piling, Slab
Pool: Yes
Pool Type: Private
Pool Features: In Ground, Outdoor Pool, Private
Counter Tops: Granite
Cooling: Central Air, Heat Pump, Zoned
Interior Features: Cathedral Ceiling(s), Pantry, Wet Bar, Walk-In Closet(s)
Heating: Central, Electric, Geothermal, Zoned
Room Type: Foyer, Game Room, Home Theater, Pantry
Flooring: Carpet, Ceramic Tile, Plank
Construction Materials: Frame, Wood Siding
Legal Description
Section: NA
County: Currituck
Subdivision: O'Neal Minor
Deed Book: 1402
Deed Book Page Number: 1332
County Pin Number: 010200000050000
Price Change: 4/28/2021
Block: NA
Road Surface: Unpaved
Lot Details
Lot Size Acres: 1.96
Lot Size Dimensions: 90x950
Lot Size Square Feet: 85500
Lot Features: Adj to Park Serv./Preserv, Beach Frontage, Corner Lot, Irregular Terrain, Waterfront
Lot Faces: E
Waterfront: Ocean Front
View: Ocean, Park/Greenbelt, Sound
Property Type: Residential
Property Expenses & Utilities
Tax Year: 2019
Annual Property Taxes: $6,192.00
Home Oner Insurance Expense: 5872
Flood Zone: Cobra,X
Water Source: Private, Well
Yearly Elecric Expense: 9829
Yearly Cable Tv Expense: 3336
Contract Status Change Date: 4/29/2021
Estimated Annual Fee Amt: $0.00
Sewer: Septic Tank
Association Fee Yes or No: No - Restrictive Covenants May Apply
Financials
Bank/Institution Owned: No
Exterior: Vinyl
Extras: Beach Access,Ceiling Fan(s),Covered Decks,Hot Tub,Intercom,Jet Tub,Outside Lighting,Outside Shower,Patio,Smoke Detector(s),Sun Deck,Water Filter,Water Softener,Whirlpool/Spa,Tiki Bar,Inside Laundry Room
HOA Contact Name: None
Primary Residence: No
HOA Contact Info: None
Rental Income
Annual Rental Income: 375355
Rental Performance: 0.1472
Owner Rental Income 2021 Amount: 368267
Avertised Income 2021 Amount: 375305
Listing Agent Remarks
You can live the dream in this oceanfront estate. Views of the Atlantic Ocean and the Currituck Sound where the wild horses roam. Perched on a highly elevated corner of Penny's Hill-the second largest sand dune in North Carolina. It is only accessible by four wheel drive vehicles. Penny’s Hill is the ideal destination for those looking to escape. There are no paved roads, no restaurants, gas stations or stores so come prepared! Currently used as an investment by seller, it is primarily rented as an event home(weddings/corporate outings) and rents $367,305/season. Sold fully furnished, its a turnkey investment. Prepared to sleep 36 people, it contains everything needed to host an event. Inside is a large gourmet kitchen, with a huge pantry that has 2 additional refrigerators, 4 ovens, wine cooler, commercial icemaker and steamer, 18 bedrooms, movie theatre, billiard/rec room/bar, laundry room, utility room with water conditioning systems, lots of entertaining spaces, player piano, and 1000sf wedding suite with private deck overlooking the ocean, oversized shower with 9 shower-heads. Outside is a private pool with wet bar, hot tub and poolside cabana, two outside showers, two outside toilets, and a huge 1800 sun deck/dance floor/outside dining area. This area has permanent stakes installed for a 30'x50' tent(not supplied). Well maintained, with recent maintenance to include new fortified roof in May 2020, new HVAC systems and duct work, new hot tub, new pool heater, new decks, new flooring. This property is set up for the new owner to operate for years with little to no maintenance expense.
Directions
from the end of the paved road the house is 2.3 miles north. turn West on Munson Lane and home is first 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 1487 Ocean Pearl Road in Corolla is provided
courtesy of Outer Banks Realty Group . Information is believed to be accurate but is not
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means the property at 1487 Ocean Pearl Road 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
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