8023 S Old Oregon Inlet Road #Lot PT13&14, Nags Head

$2,499,000

MLS#: 115106 Property Type: Residential Address: 8023 S Old Oregon Inlet Road #Lot PT13&14 City / Zip: Nags Head, NC 27959 Area: S. N.H. East/Old Oregon R County: Dare Neighborhood: Bodie Isl Beach Bedrooms: 8 Bathrooms: 6 1/2 Bathrooms: 1 Heated Sq Ft: 3,840 Acres: 0.45 Year Built: 1998 Zoning: res Date Listed: 07/08/2021 Status: Under Contract

Agent's Comments

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!

*Listing provided courtesy of the Sun Realty - KDH.
Interior Features
  • Air Conditioning: Heat Pump
  • Appliances: 2nd Refrigerator, Dishwasher, Dryer, Ice Machine, Microwave, Range/Oven, Refrigerator w/Ice Maker, Washer
  • Countertops: Granite
  • Extras: Beach Access, Boardwalk to Beach, Cabana, Ceiling Fan(s), Covered Decks, Hot Tub, Jet Tub, Outside Lighting, Outside Shower, Smoke Detector(s), Sun Deck, Dry Entry
  • Floor Covering: Tile, Vinyl Tile
  • Furnishings Available: Yes
  • Heating: Heat Pump
  • Interior Features: 9' Ceilings, Dryer Connection, Gas Connection, Gas Fireplace, Ice Maker Connection, Master Bath (Ensuite), Pantry, Some Windows Treated, Washer Connection, Wet Bar
  • Optional Rooms: Game Room, Pantry
  • Water: Municipal
External Features
  • Exterior: Vinyl
  • Foundation: Piling
  • Garage: None
  • Lot Description: Beach Frontage
  • Parking: Paved, Under, Unpaved
  • Pool: Yes
  • Pool: Fiberglass, Heated, In Ground, Private Pool
  • Rool Type: Private
  • Roads: Paved, Public
  • Roof: Asphalt/Fiber Shingle
  • Sewer/Septic: Private Septic
  • Style: Reverse Floor Plan
  • Waterfront Location: Oceanfront
Additional Features
  • Associated Document Count: 5
  • Contruction: Frame
  • County: Dare
  • Deed Book: 2519
  • Deed Book Pg: 0591
  • Ownership: Owned 12 Months or less
  • Rental Company: Sun Realty
  • Rental Cottage Number: SAILS-1
  • Status Date: 2021-09-19
  • Property Sub Type: Single Family Residence
  • View Description: Ocean
  • Year Built: 1998
  • Zoning: res
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Listings provided courtesy of Sun Realty - KDH and the MLS of the Outer Banks Association of Realtors®, Inc.

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Ken Baittinger
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Email: ken@outerbanksblue.com
Office Phone: (252) 255-0482 x310
Cell Phone: (252) 305-5255