8023 South Old Oregon Inlet Road

Sold Co Op By Member 11/15/21
Sold Co Op By Member 11/15/21
Gallery Image 1
Sold
Last Sold Price
$2,100,000
8 beds3,840 sqft
8023 S Old Oregon Inlet Rd, Lot PT13&14, Nags Head, NC 27959
Single FamilyProperty Type
0.45 acresLot Size
1998Year Built
$547/sq ftPrice per sq ft

Description

Sparing no expense, this spectacularly renovated, professionally decorated, turnkey 8-bedroom oceanfront in South Nags Head has over $292k in advertised rents already on the books for 2021 with room for growth! Tons of listings proclaim the magical 10:1 ratio that most savvy investors strive for when searching for their next money-making investment. With an attractive property management agreement locked in and transferring to the next lucky buyer, this investors dream has a chance to hit that benchmark...Sparing no expense, this spectacularly renovated, professionally decorated, turnkey 8-bedroom oceanfront in South Nags Head has over $292k in advertised rents already on the books for 2021 with room for growth! Tons of listings proclaim the magical 10:1 ratio that most savvy investors strive for when searching for their next money-making investment. With an attractive property management agreement locked in and transferring to the next lucky buyer, this investors dream has a chance to hit that benchmark using NET income, a claim very few can boast! Getting a late start to the rental season as every part of the renovation was meticulously completed, this rental monster was not available for rent until May 17th, missing out on popular and profitable weeks such as Easter. In addition to the incredible updates seen throughout the photos, one not seen is a new gas pool heather, ensuring a strong fall rental season and even more income. In fact, the expected income on this fabulous home is projected north of $295K for the OWNER GROSS. Did we mention this was all possible turnkey? We all know the three keys to real estate…location, location, location. Appropriately named “OBX Paradise,” this fantastic home is protected by a well-established dune, with 75' ocean frontage in the highly desirable South Nags Head. With both ocean & sound views, within walking distance of the also renovated Jennette’s Pier, one of the hottest wedding venues on the Outer Banks. Also, we’d be remiss to omit mention of the Nags Head Beach renourishment project, ensuring wide and less crowded beaches. Well protected from storms, room for income growth, investments do not get any sounder than this! Some of the more outstanding features and highlights of the renovation include. -Granite Countertops -All new furnishings chosen by a design professional -Luxury Vinyl Tile -New mattresses, bedding & electronics -New HVAC units -Gas Pool Heater -New Windows, Doors, Bathroom Fixtures, Light fixtures, Cabinets, Appliances and Blinds throughout. (See associated docs for full list of updates) No expense was spared in the rebirth of this money maker. Rental property investment is nothing more than a numbers game. Most purchases require buyers to keep playing that game, needing updates and upgrades just for the chance to hit the targeted ROI numbers. With $292K already on the books and nearly $300K projected with full open calendar, with an incredible rental package in place “OBX Paradise” is sure to be winning investment for you and your family!
  • Listed by: Ian M Lassiter ianlassiter@kw.com • Sun Realty - KDH
Listing closed: 11/14/2021 07:00 PM • Source: Outer Banks Association of REALTORS, MLS#: 115106

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Listing Courtesy of Sun Realty - KDH

Sold By Midgett Realty - Rodanthe

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$11,984 per month

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$11,211

Property Taxes

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Property Information for 8023 South Old Oregon Inlet Road

Property Details
  • Taxes: $9,273 / year
  • MLS Type: Residential / Single Family Residence
  • County: Dare County
  • Architectural Style: Reverse Floor Plan
  • View: Ocean
  • Waterfront Features: Ocean Front
  • Zoning: res
Building Information
  • Year Built: 1998
  • Lot Size: 0.45 AC / 19,500 SF
Summary
Location and General Information
  • Directions: South on NC-12, just past Jennettes Pier at Whalebone Junction. Home on left just past Dolphin Motel.
  • Latitude: 35.906908
  • Longitude: -75.594849
  • Subdivision Name: Bodie Isl Beach
  • Year Built: 1998
  • ZH Flood Zone: AO
  • Full Subdivision Name: Bodie Island Beach
  • Water Frontage: 75
  • Front Garage: None
  • Street Frontage: 21
Parking
  • Parking Features: Paved, Underground, Unpaved
Taxes and HOA
  • Tax Annual Amount: $9,272.68
  • Tax Block: 1
  • Tax Year: 2020
  • Assoc Fee Y Or N Or Voluntary: No - Restrictive Covenants May Apply
  • HOA Contact: NA
  • HOA Contact Info: NA
Property
Lot Information
  • Lot Features: Beach Frontage
  • Lot Size Acres: 0.45
  • Lot Size Dimensions: 19500
  • Lot Size Square Feet: 19500.0
  • Road Surface Type: Paved, Public
Property and Assessments
  • Ownership: Owned 12 Months or less
  • Property Sub Type: Single Family Residence
  • Property Type: Residential
  • Deed Book: 2519
  • Deed Book Pg Number: 0591
  • Section: NA
  • Bill of Sale In Amt Y Or N: Yes
  • Furnishings Available Y Or N: Yes
  • Bank Or Institution Owned: No
  • Pin Number: 08002082219
  • Headline: Oceanfront-$292K in Rents!
  • Primary Htd Lv Ar SF: 3840.0
Utilities
  • Sewer: Septic Tank
  • Water Source: Municipal
Interior and Exterior Features
Exterior Feature
  • Pool Type: Private
  • E Exterior: Vinyl
  • Pool: Yes
  • Construction Materials: Frame
  • Pool Features: In Ground, Fiberglass, Heated, Private
  • Roof: Asphalt
Interior Feature
  • Appliances: Dishwasher, Dryer, Ice Maker, Microwave, Range/Oven, Refrigerator w/Ice Maker, Washer, 2nd Refrigerator
  • Bathrooms Full: 6
  • Bathrooms Partial: 1
  • Bedrooms Total: 8
  • Cooling: Heat Pump
  • Flooring: Tile, Vinyl Tile
  • Foundation Details: Piling
  • Heating: Heat Pump
  • Interior Features: Pantry, Wet Bar
  • Room Type: Game Room, Pantry
  • ZF Counter Tops: Granite
Agent
Sale and Listing
  • Listing Id: 115106
Rental
Rent Information
  • X Lease Terms: Weekly
  • Sale Or Rent: S
  • Estimated Annual Fee Amt: 0

Property History for 8023 South Old Oregon Inlet Road

DateEvent & SourcePriceAppreciation
Nov 14, 2021

Sold

Outer Banks Association of REALTORS #115106

$2,100,000—
Jul 6, 2021

Listed (Active)

Outer Banks Association of REALTORS #115106

$2,499,000—
DateEvent & SourcePrice
11/14/2021

Sold

Outer Banks Association of REALTORS #115106

$2,100,000
07/06/2021

Listed (Active)

Outer Banks Association of REALTORS #115106

$2,499,000

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

Schools near 8023 South Old Oregon Inlet Road

This home is within Dare County School District.
Rating
School
Type
Grades
Distance
Nags Head Elementary School
Public - PK to 5
Manteo Middle School
Public - 6 to 8
Manteo High School
Public - 9 to 12
Dare Learning Academy
Public - 9 to 12
Rating
School
Distance
Nags Head Elementary School
PublicPK to 5

Manteo Middle School
Public6 to 8

Manteo High School
Public9 to 12

Dare Learning Academy
Public9 to 12

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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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim 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 seller's discretion. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties make no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Sun Realty - KDH

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