502 Magnolia Way, Lot 31

Corolla, NC 27927

$889,000
Price
4
Beds
2,894 Sq. Ft.
$307 / Sq. Ft.
2,894
Sq. Ft.
$307
per Sq. Ft.
Virtual Tour
Virtual Tour

Description

Set on the soundfront in The Currituck Club’s Magnolia Bay community, this 4-bedroom (two en suite), 3.5-bath home offers approximately 2,895 square feet of living space with sweeping sound views and unforgettable sunsets. The floor plan is more open than most Magnolia Bay homes, allowing light and water views to carry naturally through the main living areas, kitchen, and dining spaces. Cathedral ceilings, generous room sizes, and multiple dining areas create a home that lives comfortably while staying...Set on the soundfront in The Currituck Club’s Magnolia Bay community, this 4-bedroom (two en suite), 3.5-bath home offers approximately 2,895 square feet of living space with sweeping sound views and unforgettable sunsets. The floor plan is more open than most Magnolia Bay homes, allowing light and water views to carry naturally through the main living areas, kitchen, and dining spaces. Cathedral ceilings, generous room sizes, and multiple dining areas create a home that lives comfortably while staying closely connected to the soundfront setting. The property has been rented only sparingly and is presented in pristine, turn-key condition. Recent improvements include a newer roof, HVAC systems, hot tub, and water heater. The ground level makes a strong first impression, with a large entryway and open sightlines that immediately draw the eye to the sound beyond. Heated ceramic tile flooring runs throughout this level, a rare and valuable feature that enhances year-round comfort and usability. The main level serves as the heart of the home, where openness and views take center stage. A spacious living area with cathedral ceilings and a gas fireplace is framed by expansive windows that capture broad sound views and vibrant sunsets. Deck access extends the living space outdoors and reinforces the home’s connection to its waterfront setting. The kitchen is both functional and inviting, featuring stainless-steel appliances, granite countertops, and ample cabinetry, all complemented by sound views. The breakfast nook and bar seating offer a relaxed, casual dining space overlooking the water, while the dedicated dining room provides a more formal setting for gatherings. Also on this level is a generously sized primary en suite with beautiful sound views. A custom-tiled gas fireplace adds warmth and architectural interest to the bedroom, while the private bath- finished with custom tile, a separate shower, and a jetted tub- along with a walk-in closet, completes a true retreat. A laundry/pantry room and conveniently located half bath complete this floor without interrupting the home’s open flow. The upper level offers three additional spacious bedrooms, including a second en suite with sound views and a distinctive double-sided fireplace shared between the bedroom and the private bath. Two additional guest rooms share a full hall bath, creating a comfortable and practical arrangement for family and guests. Outdoor living is a defining feature of the home. The soundfront sun deck offers panoramic water views, dramatic sunsets, and expansive night skies ideal for stargazing. A private hot tub invites evening relaxation, while the adjacent patio provides additional space for dining, gathering, or enjoying time outdoors. Summer days and evenings are especially well suited to this setting, whether entertaining, unwinding, or simply taking in the quiet beauty of the sound. Located near The Currituck Club’s southern gate, the home offers convenient entry and exit and is just moments from the TCC beach access/parking, Magnolia Bay pool, and trolley stop. Guests also enjoy access to golf, pools, tennis, fitness facilities, and concierge services while remaining close to the shops, dining, and attractions of Corolla. With its soundfront setting, open and well-designed floor plan, strong water views throughout the home, and exceptional condition, this property checks every box buyers seek in a primary residence or second home. While it has been rented only sparingly, opening the calendar could unlock meaningful vacation income potential. Combined with its location, views, features, and access to The Currituck Club’s amenities, this home offers long-term value and versatility in one of Corolla’s most desirable communities.
  1. Listed by The Myatt Group Team • Keller Williams - Outer Banks
    matt@mattmyatt.com
  2. Listed by Terry Blocher • Keller Williams - Outer Banks
    C: (252)-207-3677 terry@mattmyatt.com

Property Details for 502 Magnolia Way

Architectural Style
Coastal, Cottage
View
Sound
Waterfront Features
Soundfront
Zoning
SFO
LISTING UPDATED: 01/20/2026 10:04 AM

Property Details for 502 Magnolia Way

StatusActive
MLS #131429
Days on Market16
Taxes$3,928 / year
HOA Fees$6,500 / year
Condo/Co-op Fees-
Compass TypeSingle Family
MLS TypeResidential / Single Family Residence
Year Built1997
Lot Size-
CountyCurrituck County

Location

Listing Courtesy of Keller Williams - Outer Banks
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Building Information for 502 Magnolia Way

Stories-Year Built1997Building Size-Lot Size-

Payment Calculator

$5,202 per month

30 year fixed, 6.15% Interest

Principal and Interest

$4,333

Property Taxes

$327

HOA Dues

$542

The Payment Calculator is for illustrative purposes only.

Property Information for 502 Magnolia Way

Summary
Location and General Information
  • Latitude: 36.27922
  • Longitude: -75.802681
  • Subdivision Name: TCC-Magnolia Bay
  • Year Built: 1997
  • ZH Flood Zone: AE,X
  • Major Subdivision: The Currituck Club
  • Front Garage: 1 Car,Attached
Parking
  • Parking Features: Paved, Off Street
  • Garage Sq Ft: 354
Taxes and HOA
  • Association Amenities: Clubhouse, Gated, Golf Course, Fitness Center, Ocean Access, Outdoor-Comm. Pool, Outdoor-Comm. Tennis, Playground, Board Walk, Common Area
  • Association Fee Includes: Electricity, Common Insurance, Maintenance Grounds, Management, Pool, Road Maintenance, Security, Tennis Courts, Walkways
  • Tax Annual Amount: $3,928.00
  • Tax Year: 2025
  • Assoc Fee Y Or N Or Voluntary: Yes
  • HOA Contact: John Small- MBPOA Pres
  • HOA Contact Info: johnsmallmb66@gmail.com
Property
Lot Information
  • Lot Features: Cul-De-Sac, Waterfront
  • Road Surface Type: Paved, Private
Property and Assessments
  • Living Area: 2894.0
  • Ownership: Owned More than 12 Months
  • Property Sub Type: Single Family Residence
  • Property Type: Residential
  • Deed Book: 1761
  • Deed Book Pg Number: 28
  • Bill of Sale In Amt Y Or N: Yes
  • Furnishings Available Y Or N: Yes
  • Yearly Expense Act Or Est: Estimated
  • Bank Or Institution Owned: No
  • Pin Number: 127D00000310000
  • Headline: Gorgeous Soundfront!
  • Primary Htd Lv Ar SF: 2894.0
Utilities
  • Sewer: Shared Septic
  • Water Source: Municipal
  • Fuel Tanks: Leased
Interior and Exterior Features
Exterior Feature
  • Pool Type: Association
  • E Exterior: Cement Fiber Board
  • Pool: Yes
  • Construction Materials: Frame, Wood Siding
  • Pool Features: Outdoor Pool, In Ground, Association
  • Roof: Asphalt
Interior Feature
  • Appliances: Dishwasher, Dryer, Microwave, Range/Oven, Refrigerator w/Ice Maker, Washer
  • Bathrooms Full: 3
  • Bathrooms Partial: 1
  • Bedrooms Total: 4
  • Cooling: Heat Pump
  • Flooring: Carpet, Ceramic Tile
  • Foundation Details: Short Pilings
  • Heating: Electric, Heat Pump
  • Interior Features: Cathedral Ceiling(s), Pantry
  • Room Type: Breakfast Nook, Foyer
  • ZF Counter Tops: Granite
  • Electronic Locks: Leased
Multi Family
Income & Expenses
  • Flood Insurance: 1075
Agent
Sale and Listing
  • Listing Id: 131429
Rental
Rent Information
  • X Lease Terms: Weekly
  • Sale Or Rent: S
  • Est Annual Rental Income Amt: $86,000
  • Estimated Annual Fee Amt: 6500

Property History for 502 Magnolia Way

DateEvent & SourcePriceAppreciation
Jan 6, 2026

Listed (Active)

Outer Banks Association of REALTORS #131429

$889,000—
Feb 20, 2024

Sold

Outer Banks Association of REALTORS #123598

$770,000—
Oct 4, 2023

Listed (Active)

Outer Banks Association of REALTORS #123598

$799,000—
Aug 28, 2023

Withdrawn

Outer Banks Association of REALTORS #122489

$799,000—
Jun 11, 2023

Listed (Active)

Outer Banks Association of REALTORS #122489

$799,000—
Oct 29, 2018

Sold

Outer Banks Association of REALTORS #100915

$409,000—
Jun 14, 2018

Listed (Active)

Outer Banks Association of REALTORS #100915

$419,000—
DateEvent & SourcePrice
01/06/2026

Listed (Active)

Outer Banks Association of REALTORS #131429

$889,000
02/20/2024

Sold

Outer Banks Association of REALTORS #123598

$770,000
10/04/2023

Listed (Active)

Outer Banks Association of REALTORS #123598

$799,000
08/28/2023

Withdrawn

Outer Banks Association of REALTORS #122489

$799,000
06/11/2023

Listed (Active)

Outer Banks Association of REALTORS #122489

$799,000
10/29/2018

Sold

Outer Banks Association of REALTORS #100915

$409,000
06/14/2018

Listed (Active)

Outer Banks Association of REALTORS #100915

$419,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 502 Magnolia Way

This home is within Currituck County School District.
Rating
School
Type
Grades
Distance
Knotts Island Elementary
Public - K to 5
Currituck County Middle
Public - 6 to 8
Currituck County High
Public - 9 to 12
The JP Knapp ECH (I)school
Public - 9 to 13
Rating
School
Distance
Knotts Island Elementary
PublicK to 5

Currituck County Middle
Public6 to 8

Currituck County High
Public9 to 12

The JP Knapp ECH (I)school
Public9 to 13

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 502 Magnolia Way, Corolla, NC 27927

502 Magnolia Way is a single family home for sale in Corolla, NC 27927. This property was listed for sale on January 7, 2026 by Keller Williams - Outer Banks, it's currently listed at $889,000. It has been on the market for a total of 16 days and was last sold on February 21, 2024. This listing's school district is Currituck County School District. Nearby schools include Knotts Island Elementary, Currituck County Middle and Currituck County High. 502 Magnolia Way is a 4-bed, 4-bath, 2,894 sqft single family home built in 1997.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Keller Williams - Outer Banks

The data relating to real estate on this web site comes in part from the Internet Data Exchange program of Hive MLS, and is updated as of 01/20/2026 10:04 AM. All information is deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Compass shall be responsible for any typographical errors, misinformation, or misprints, and shall be held totally harmless from any damages arising from reliance upon these data. © 2026 Hive MLS