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Market Explosion
Since 2019, the Outer Banks market has exploded. There are numerous contributing factors that have spurred this remarkable rise. Certain Covid travel restrictions brought us many first time visitors. They, of course, loved it and found our property values very low compared to their customary vacation destinations. The return on investment was also high comparatively, leading to even more interest for those seeking a solid real estate investment. With so many people working remote, we also saw an increasing trend of buyers choosing to make the Outer Banks their primary residence. After all, if you have to work remotely, why not do it at the beach! Perhaps the greatest influencing factor has been the historically low interest rates. A sub 3% interest rate can not only increase buying power, it can substantially increase cash flow by lowering carrying costs. You might say the stars have aligned for the perfect opportunity to purchase beach property. The downside is that prices are rising and inventory is dwindling. It is a classic supply/demand scenario. Since 2019, the median residential sales price has risen 53%. In the same period, residential inventory has fallen 75%. What does all of this mean?...It means as soon as an attractive property hits the market, it is snatched up immediately.
Buyers have to be ready to pounce.
Interest rates are still historically low, so it is still a great time to invest.
If you currently own OBX property and are interested is selling, this is equally a great time to consider taking advantage of the low inventory. Less competition will make your home stand out and pop in my marketing, thus yielding numerous and stronger offers.
If you are considering a purchase, I highly suggest you use the search function above. After you have entered your personal search criteria (area, price range, # of bedrooms, etc), save the search. Then you will get an auto update as soon as something hits the market matching your criteria. It pays to be the first to know!
If you are entertaining the idea of selling you existing OBX property, you can use my Auto Valuation Module for a general idea of your home’s current value. However, I suggest you contact us for a detailed Market Analysis and a personal description of our 10 step marketing plan.
I have been helping buyers and sellers in this market for over 20 years and have over $100 million in sales volume. I look forward to helping to too.
Chandler Spawr
broker/owner
Interested in the value of your home?
Click HERE for our INSTANT VALUATION Module
(this can be used for any property in the US)
"We recently had our home sold in the OBX. We had it up for sale for over 3 years with a major realty firm on the beach. After 3 years, we finally decided to list it with Coastal Property Partners and it SOLD after only 45 days on the market! The efforts of Chandler Spawr & Coastal Property Partners was a MAJOR factor in our house selling. His professional approach coupled with his knowledge of how to reach out to the market area was impressive, to say the least! Chandler was the difference for us!"
- John & Debbie, Leesburg, VA Jan 2020
Featured Property Video
See what others have to say:
Find Your Inspiration
Mill Point is one of the finest primary residential properties on the Outer Banks. The home sits high on a ridge overlooking its own harbor and offering uninterrupted pan...
- 5 Beds
- 7 Baths
Listing courtesy of Scott Team Realty.
Heels in The Sand located in the most prestigious area of Corolla offers unsurpassed panaromic views of the Ocean and Sound. These mesmerizing views only enhance the arc...
- 9 Beds
- 13 Baths
Listing courtesy of Island Crest Obx Realty.
Unique Spectacular Waterfront Commercial Property, which comprises of buildings 1, 2 and 3 that equals 17 units (Owner will sell single units @$300,000, call for details)...
Listing courtesy of Great Escapes Realty.
Approximately five acres of commercial property adjacent and west of the new 7 Eleven at the corner of US 158 and Woods Road with access from US 158 already in place with...
Listing courtesy of Village Realty Holdings, Llc - Nh.
NEW WOOD FLOORS BEING INSTALLED IN BEDROOMS IN OCT 2021 AND ALL OTHER FLOORS ARE BEING REFINISHED. This luxurious oceanfront home was built by Mancuso Development in 2015...
- 9 Beds
- 11 Baths
Listing courtesy of Four Seasons Realty.
KDH Paradise is an amazing oceanfront 12 bed 13 bath estate with incredible rental income YTD $375k+. Spacious layout, beautiful furnishings, vivid ocean views and top o...
- 12 Beds
- 13 Baths
Listing courtesy of Clickit Realty.
Exceptional oceanfront estate situated on half an acre with over 100 feet of water frontage and unobstructed views. This home has absolutely everything you could want. ...
- 8 Beds
- 10 Baths
Listing courtesy of Brindley Beach Vacations-Duck.
RARE OPPORTUNITY FOR 4.7 ACS AT A STOPLIGHT ON THE BYPASS. A vacant commercial site of this size is very very unusual on the Outer Banks. Centrally located across from J...
Listing courtesy of Harrell & Associates.
Turtles Nest has it all—enjoy the big house size for large groups AND a very high level of quality and attention to detail! Offered by the original owners, this home has ...
- 12 Beds
- 12 Baths
Listing courtesy of Carolina Designs Realty.
Endless Summers....we all want them and now you can make it a reality. This Coastal Retreat is making over 314,000 in 2021 and guests rave about all it offers year after ...
- 9 Beds
- 10 Baths
Listing courtesy of Outer Banks Blue Realty Srvcs..
“TURN-KEY” RENTAL READY ELEGANT ESTATE TO BE BUILT NEW CONSTRUCTION 12 B/R, 12.2 BATH HOME TO BE BUILT AT 948 LIGHTHOUSE DR. ON A CORNER LOT OFFERING THE HIGHEST SEMI-OCE...
- 12 Beds
- 14 Baths
Listing courtesy of Clickit Realty.
Consistent Rental Machine - Over 222K booked for 2022 already. This home is a true and rare beauty, located in the quaint coastal community of Pine Island in Corolla. It ...
- 7 Beds
- 9 Baths
Listing courtesy of Outer Banks Realty Group.
Beautiful 9 Bedroom Corolla Oceanfront with Incredible Ocean Views with direct beach access Huge Pool! Elevator and Theater Room! Home Rents incredibly well...with over $...
- 9 Beds
- 9 Baths
Listing courtesy of Keller Williams - Outer Banks.
Spectacular Spectacular! This is what you will find at Cabana Beach! The best of the oceanfront in Pine Island ~ magnificent ocean to sound views protected by a robust an...
- 6 Beds
- 8 Baths
Listing courtesy of Brindley Beach Vacations-Main.
Great New Price, Great Location, and Investment Return! Incredible oceanfront setting and SOLID NUMBERS! Enjoy the casual coastal feel of this lovely nine bedroom home se...
- 9 Beds
- 10 Baths
Listing courtesy of Keller Williams - Outer Banks.
Looking for an investment property with all of the extras? This home is 12 bedrooms and 12.5 baths with enough room to feel spacious and remain stunningly beautiful! The ...
- 12 Beds
- 13 Baths
Listing courtesy of Village Realty Holdings, Llc - Nh.
Dressed in modern design and high-end finishes, Virginia Dare offers world-class amenities. This luxury estate provides stunning views of the Atlantic with unsurpassed en...
- 8 Beds
- 9 Baths
Listing courtesy of Saga Realty And Construction.
Sea Oats Cottage is a gorgeous 6BR/5.5BA Corolla Oceanfront home located on a premium homesite in the extremely desirable Whalehead subdivision. Quality built by Olin Fin...
- 6 Beds
- 6 Baths
Listing courtesy of Great Escapes Realty.
Welcome to Carolina Sunset! Many oceanfront homes have a wonderful view of the ocean and of the sun rising over it in the morning, but only a select few can say that they...
- 6 Beds
- 7 Baths
Listing courtesy of Beach Realty & Constr - Kh North.
OVER $272,000 BOOKED FOR 2021 IN 31 WEEKS AND $279,380 PRE-BOOKED FOR 2022 IN JUST 28 WEEKS! THIS HOUSE WILL DO OVER $280K. Oceanfront estate with ten bedrooms and amenit...
- 10 Beds
- 11 Baths
Listing courtesy of Carolina Designs Realty.
Owner income of $260k provides an estimated $65k annual POSITIVE cash flow with 25% down! The ultimate Nags Head beach experience awaits you in this beautiful 12-bedroom...
- 12 Beds
- 13 Baths
Listing courtesy of Outer Banks Blue Realty Srvcs..
Fabulous Oceanfront Home in the Heart of Duck ... walk to Downtown Duck! Home is situated on large nearly 80 feet wide and very deep lot with solid dune system ... locate...
- 8 Beds
- 9 Baths
Listing courtesy of Coldwell Banker Seaside Realty Kh.
Classic Nags Head home any way you like; two homes or one! The two units sit on a 70 foot wide parcel - larger than the average. Currently the townhomes are rented as t...
- 8 Beds
- 7 Baths
Listing courtesy of Keller Williams - Outer Banks.
Pine Island. Oceanfront. Phenomenal Rental History. That's probably all we need to say about this 6-bedroom 4 and 1/2-bath home, but we'll give you a little more. Propert...
- 6 Beds
- 5 Baths
Listing courtesy of Keller Williams - Outer Banks.
Here is your opportunity to own a piece of pristine shoreline in Whalehead Beach. If you have ever visited Corolla, you know that Whalehead is famous for its wide, sandy ...
- 7 Beds
- 8 Baths
Listing courtesy of Brindley Beach Vacations & Sales - Kh.
HURRICANE MO'S!!! One of the Most Popular Restaurants on the Outer Banks is available to make Your Dream of Living on the OBX, In Style, a Reality! Centrally located bet...
Listing courtesy of Keller Williams - Outer Banks.
Rare opportunity in Duck! 36 seat indoor dining with open kitchen. Outdoors includes 80 person capacity with seating, bar area with ability to cook and serve food. Turn...
Listing courtesy of Century 21 Nachman Realty.
STUNNING OCEAN VIEWS in this big and beautiful house SIMPLY PARADISE was constructed in 2007 and has all the upscale materials and amenities that today's discriminating b...
- 8 Beds
- 10 Baths
Listing courtesy of Village Realty Holdings, Llc - Nh.
An unbelievable Oceanfront opportunity for the fishing enthusiast, right up the road from Jennette's Pier. How often does that come along? A rare opportunity to own a cas...
- 8 Beds
- 7 Baths
Listing courtesy of Re/Max Surfside.
The only oceanfront residence in The Currituck Club, this home has it all! Amazing ocean views, refined decor, elevator, a HUGE POOL, hot tub, six oversized bedrooms (fiv...
- 6 Beds
- 8 Baths
Listing courtesy of Village Realty Holdings, Llc - Corolla.
Rare opportunity for ownership in the Historic Corolla Village on a spacious semi-oceanfront parcel just steps to the beach, Currituck Beach Lighthouse, Whalehead Club & ...
- 7 Beds
- 9 Baths
Listing courtesy of Twiddy & Company - Corolla.
Outer Banks Living at it’s best! Luxury waterfront home in the gated community of Martins Point. Situated on an expansive, yet private, 1.4 acres. This estate offers a ...
- 6 Beds
- 8 Baths
Listing courtesy of Re/Max Coastal Associates.
Put this OCEANFRONT, Vacation Rental 8 Bedroom home across from Wright Memorial Museum ON YOUR RADAR. This home is located on a deep road to ocean lot providing fantastic...
- 8 Beds
- 6 Baths
Listing courtesy of Sun Realty - Kdh.
Remarkable soundfront retreat in Duck Village! Now is the time to grab this premiere waterfront location in the highly desirable Four Seasons community just steps to the ...
- 5 Beds
- 7 Baths
Listing courtesy of Keller Williams - Outer Banks.
Premier Oceanfront lot in Corolla! There only a few oceanfront lots left in all of Corolla. This is your opportunity to own an incredible piece of waterfront in the su...
Listing courtesy of Coldwell Banker Seaside Realty Kh.
This landmark property has a successfully served one meal a day for over over 30 years and provided a good living for the owner. Near one of the busiest intersections on ...
Listing courtesy of Scott Team Realty.
Rare Oceanfront home in the Classic Cedar Shake Nags Head Style that is just moments away from shoppes, restaurants, and local attractions. Open concept floor plan offers...
- 7 Beds
- 7 Baths
Listing courtesy of Iron Valley Real Estate Hampton Roads.
***$199K + for GRI for 2021 (not including pool heat fees). DUCK OCEAN FRONT RENTAL MACHINE*** This home checks all the boxes! Elevator (goes from ground level outside...
- 6 Beds
- 6 Baths
Listing courtesy of Coldwell Banker Seaside Realty Kh.
PROJECTED TO DO OVER $186K IN ANNUAL INCOME! OWNERS JUST HAD THE INTERIOR PAINTED IN FALL 2021 AND REPLACED 10 WINDOWS THROUGHOUT. Stunning ocean views abound from this c...
- 7 Beds
- 7 Baths
Listing courtesy of Four Seasons Realty.
Unbelievable Ocean Views from this beautiful Corolla OceanFront 7 bedroom home! Spectacular Ocean Views can be enjoyed from the top level and also from the midlevel and P...
- 7 Beds
- 7 Baths
Listing courtesy of Corolla Beach Realty.
GORGEOUS OCEANFRONT CUSTOM BUILT IN 2014 BY TODD COYLE! SWEEPING OCEAN VIEWS AND STUNNING SUNRISES! ATTENTION TO EVERY DETAIL WITH UPSCALE FINISHES THROUGHOUT!! STRONG ...
- 5 Beds
- 6 Baths
Listing courtesy of Keller Williams - Outer Banks.
“La Vita Bella” means “The Beautiful Life”, which is what you’ll experience owning this luxurious home. You will be captivated with Italian marble, bamboo floors and beau...
- 6 Beds
- 9 Baths
Listing courtesy of Century 21 Nachman Realty.
Don't miss out on this newest addition to Passage Way in the heart of Nags Head! Semi-oceanfront, situated on the 2nd row! Designed with an open contemporary floor plan w...
- 7 Beds
- 9 Baths
Listing courtesy of Colony Realty Corp - Frisco.
This popular rental machine can hold a large crowd inside or outside with plenty of room. Outdoor space includes pool, deck, hot tub and tiki bar. Large great room with...
- 9 Beds
- 10 Baths
Listing courtesy of Twiddy & Co. - Duck.
Approximately 2.28 acres, recorded as Pheasant Avenue this parcel surrounds the corner gas station from US 158 to Lakeside Drive in Nags Head.
Listing courtesy of Stan White Realty And Const-Duck.
Awesome ocean to sound views from this road to ocean home. Windows galore for all views. Owners have made improvements each year of ownership including new sliding doors...
- 5 Beds
- 4 Baths
Listing courtesy of Atlantic Realty.
A RARE FIND - 5 BEDROOM SEMI-OCEANFRONT (2ND TIER OCEANFRONT) IN SANDERLING!! NO STREETS TO CROSS TO GET TO THE BEACH! Enjoy stunning ocean views and direct beach access...
- 5 Beds
- 4 Baths
Listing courtesy of Keller Williams - Outer Banks.
Enjoy the gorgeous panoramic ocean views from the loft. Professionally decorated and lovingly maintained by the seller. Siren Song a charming 6BR/4BA Oceanfront home that...
- 6 Beds
- 4 Baths
Listing courtesy of Great Escapes Realty.
A ONE OF A KIND property on the CANAL-FRONT and SEMI-SOUNDFRONT! Located on the highly coveted North Dogwood Trail with no through traffic. Built in 1979 with of effectiv...
- 5 Beds
- 6 Baths
Listing courtesy of Coldwell Banker Seaside Realty Kh.
Stunning sunrise views over the Atlantic from this beautiful Sanderling oceanfront home! Beautifully decorated with bright, coastal décor and theme, this home is sure to ...
- 4 Beds
- 5 Baths
Listing courtesy of Twiddy & Co. - Duck.
Location! Location! Location! This popular vacation rental home is in an oceanside neighborhood, has beautiful views of the Currituck Sound and is walking distance to all...
- 7 Beds
- 7 Baths
Listing courtesy of Outer Banks Realty Group.
CHECK OUT THIS FANTASTIC DUCK COTTAGE WITH THE BEAUTIFUL OCEANVIEWS ON OLDE DUCK ROAD! JUST 4 LOTS OFF THE OCEAN! WALKING DISTANCE TO DOWNTOWN DUCK! ELEVATOR! Sittin...
- 6 Beds
- 7 Baths
Listing courtesy of Keller Williams - Outer Banks.
OCEANFRONT GEM!! THE QUINTESSENTIAL BEACH COTTAGE! SO CHARMING! SWEEPING OCEAN VIEWS! LOVINGLY MAINTAINED!! PHENOMENAL LOCATION...JUST STEPS TO THE BEACH! You will feel...
- 5 Beds
- 3 Baths
Listing courtesy of Keller Williams - Outer Banks.
Location, Location, Location!!! Longview Cottage, appropriately named with it's breathtaking views of the Atlantic Ocean, wide sandy beaches and inviting dune top deck. O...
- 5 Beds
- 4 Baths
Listing courtesy of Coldwell Banker Seaside Realty Kh.
As you drive through the stone entrance, experience the lovely wooded lot and gardens before you see this stunning custom built home with beautiful architectural details...
- 4 Beds
- 5 Baths
Listing courtesy of Keller Williams - Outer Banks.
Old Nags Head Style Oceanfront cottage on a premier oceanfront lot! Location, location location! This vintage cottage is located just south of the Nags Head Fishing Pi...
- 3 Beds
- 2 Baths
Listing courtesy of Coldwell Banker Seaside Realty Kh.
IF YOU LIKED IT FROM THE AIR...YOU'LL LOVE IT EVEN BETTER IN PERSON! THE home has spectacular sometimes breathtaking sunset views. (Seller has extra sunset photos availab...
- 4 Beds
- 5 Baths
Listing courtesy of Outer Banks Beach Rentals & Sa.
Your Luxury Waterfront Dream Home in Corolla! One of a kind opportunity to own Outer Banks Real Estate property on the water -- and there is nowhere else like this iconic...
- 3 Beds
- 5 Baths
Listing courtesy of Twiddy & Company - Corolla.
Rare opportunity to find a 50' Ocean Front lot with a high dune for protection. Parcel consists of two lots 50 and 150. Currently having Seaboard Survey to combine the ...
Listing courtesy of Judy Burnette Realty, Llc.
This custom built home sits on a lot that is 28 feet above sea level, resulting in stunning views of the ocean, the sound, and the village of Duck. The first floor featu...
- 6 Beds
- 6 Baths
Listing courtesy of Southern Shores Realty.
There are TWO lots. 101 Scarborough Lane PIN (985916838382) is .52 acres and 103 Scarborough Lane PIN (9859168338281) is .60 acres. This listing is for BOTH Village Comme...
Listing courtesy of Keller Williams - Outer Banks.
Wanting to build your oceanfront dream home. Here is your chance! Corolla Oceanfront Lot! Ocean Views! Unique Opportunity to build your dream oceanfront home in Ocean San...
Listing courtesy of Saga Realty And Construction.
This property flows. Warm and inviting as soon as you walk through the door. Extensive woodwork, custom trim, ornate tilework-Biltmore marble and ceramic tile. Kitchen...
- 4 Beds
- 4 Baths
Listing courtesy of Outer Banks Realty Group.
Fabulous Location! Value in the Land only - but with that you get a home with a pool! *** Natural expectation is that someone will purchase this property for the Land and...
- 4 Beds
- 2 Baths
Listing courtesy of Coldwell Banker Seaside Realty Kh.
Amazing opportunity to own a designer curated property. Fully furnished & outfitted property with top of the line appliances, unique artwork, designer furnishings, bikes...
- 4 Beds
- 5 Baths
Listing courtesy of Atkinson Realty.
This is arguably the most beautiful homesite in all of Dare County. A double lot containing 1.36 total acres offers the opportunity to construct an estate style homeplac...
Listing courtesy of Sea Haven Realty.
This home SPARKLES and is ready for you to make it a RENTAL MACHINE with its 10% projected ROI! Steps to the ocean, you'll stroll past an OBX favorite on every visit to a...
- 5 Beds
- 6 Baths
Listing courtesy of Twiddy & Company - Corolla.
Don't miss this unique opportunity for ownership on a quiet cul-de-sac & elevated parcel situated east of the NC Estuarine Sanctuary and boasting views of the ocean & Cur...
- 6 Beds
- 6 Baths
Listing courtesy of Twiddy & Company - Corolla.
This beautiful and spacious home is situated in the highly sought-after Town of Duck and is a rental money maker. Just a short walk to Duck's boardwalk, shops and restaur...
- 7 Beds
- 6 Baths
Listing courtesy of Bhhs Towne Realty.
Take a look at this Ocean side Corolla stunner featuring 7 Bedrooms, 6 and 1/2 Baths, with private swimming pool, game room and Ocean views! All of this only 3 lots from ...
- 7 Beds
- 7 Baths
Listing courtesy of Surf Or Sound Realty - Rodanthe.
Why not live at OBX in the Currituck Club/VIP style? The best the beach has to offer! A Gated Community w/ beach valet and trolley service. A summer full of fun activitie...
- 5 Beds
- 6 Baths
Listing courtesy of Howard Hanna Outer Banks Realty.
SEMI-OCEANFRONT opportunity in Ocean Sands, Section Q!! Charming SEMI-OF beach home just steps from the Atlantic ocean!! Well maintained two-story home with multi level ...
- 4 Beds
- 3 Baths
Listing courtesy of Sun Realty - Kdh.
*** Fabulous Home just “2” Lots from the Oceanfront (or, 3rd Row) … and is just about 3 Homes south of the Old Nags Head Place community paved walkway to the Beach at Cur...
- 5 Beds
- 5 Baths
Listing courtesy of Coldwell Banker Seaside Realty Kh.
Great Nags Head Commercial location with 300 feet of Hwy frontage at the corner of S. Croatan Hwy and Barnes St. Current tenant lease in effect until November 1, 2023 and...
Listing courtesy of Colony Realty Corp - Frisco.
This property is in a prime location for traffic views. Across from the Food Lion/grocery store in one of Corolla's largest shopping centers. The property and business ...
Listing courtesy of The Real Estate Group Carolina Properties.
With an extremely thought out custom build, this secluded 3 story coastal vacation home is a rental powerhouse! Located on the ocean side of Route 12, you are only 6 mins...
- 7 Beds
- 7 Baths
Listing courtesy of Rose & Womble - Corporate.
AMAZING INVESTMENT OPPORTUNITY IN A RARE LOCATION! Don't miss this unique opportunity for ownership three lots from the oceanfront & directly east of the NC Estuarine San...
- 7 Beds
- 6 Baths
Listing courtesy of Twiddy & Company - Corolla.
Luxurious condo living with stunning ocean views offered at the amenity packed Croatan Surf Club. Spacious and well-appointed, this two-level townhouse style unit will im...
- 3 Beds
- 3 Baths
Listing courtesy of Keller Williams - Outer Banks.
"Jennette's Cottages" Was fully approved in 2018 as a Cottage Court consisting of 6 houses, 24 bedrooms with pool at Whalebone Junction, located directly across the stree...
Listing courtesy of Village Realty Holdings, Llc - Nh.
This corner unit is a thriving turnkey business with the prime location for traffic views. Food Lion/grocery store across the parking lot, in one of Corolla's largest sho...
Listing courtesy of The Real Estate Group Carolina Properties.
Amazing and rare 11.5 acre ocean to sound tract in the 4x4 area! Enjoy all the privacy of the northern beaches in this awesome location. With over 200 feet on the ocean a...
Listing courtesy of Twiddy & Co. - Duck.
From two dishwashers to two refrigerators to wrap-around decking to the outstanding rental projection and potential, THIS HOME IS A WINNER IN ALL CATEGORIES! It is a hom...
- 8 Beds
- 9 Baths
Listing courtesy of Outer Banks Realty Group.
Fantastic home in one of Nags Head's most popular communities between the roads and a short, easy walk to the beach with your choice of 2 beach accesses. The owners have ...
- 5 Beds
- 6 Baths
Listing courtesy of Outer Banks Blue Realty Srvcs..
ONE OF A KIND - Rental Machine! Positive Cash Flow! Seeing is believing..... this is one of those homes that you have to get inside to fully appreciate it - the charm - ...
- 4 Beds
- 3 Baths
Listing courtesy of Outer Banks Blue Realty Srvcs..
Incredible New Construction - Waterfront Home that is ready to move in Now! This large Kitty Hawk Landing Canalfront home is a stunner! Sound Views! Room for a Pool! ...
- 3 Beds
- 5 Baths
Listing courtesy of Coldwell Banker Seaside Realty Kh.
Rental Gem! Well maintained 7 Bedrooms/7 Full Baths/ 2 Half Baths. Ocean side corner lot with private pool. Minutes to the beach. Large open floor plan.
- 7 Beds
- 9 Baths
Listing courtesy of Corolla Beach Realty.
The Sands is a spacious home on a large, fenced corner lot conveniently located close to the shops and restaurants of Duck Village. Good rental performance and $17200 alr...
- 6 Beds
- 7 Baths
Listing courtesy of Howard Hanna Outer Banks Realty.
THIS HOME IS A MUST SEE!! Sitting on one of the larger lots in the gated community of First Flight Ridge, it is a custom built 4 bedroom, 3 bath, 1 half bath home. The Li...
- 4 Beds
- 4 Baths
Listing courtesy of Outer Banks Realty Group.
Premier Soundfront Location with a unique custom design. This property was well constructed with a timeless and generous floor plan. Sweeping cathedral ceilings on the up...
- 4 Beds
- 4 Baths
Listing courtesy of Keller Williams - Outer Banks.
Turn-key Ocean Lakes (section O) of Ocean Sands vacation home now available! Fresh and well-maintained, this property features 7 bedrooms (2 en suite), 4 bathrooms, reve...
- 7 Beds
- 4 Baths
Listing courtesy of Keller Williams - Outer Banks.
Prime location in a busy shopping plaza in Corolla. High visibility from the main road. This turn key restaurant is very profitable and ready to be turned over. Very busy...
Listing courtesy of Keller Williams - Outer Banks.
Exquisite semi-ocean front home with wonderful ocean views, with game room, and backyard private hot tub and pool. The property features an open, reverse floor plan, 4 b...
- 4 Beds
- 4 Baths
Listing courtesy of Outer Banks Realty Group.
Don't miss the opportunity for ownership in the sought after Whalehead community of Corolla. With 4 bedrooms, 3 baths, a private pool, hot tub, and spacious decks surroun...
- 4 Beds
- 3 Baths
Listing courtesy of Twiddy & Company - Corolla.
Great opportunity to own an outstanding rental home in the Village at Nags Head. Located in one of the most popular communities in the Village with its own community pool...
- 5 Beds
- 6 Baths
Listing courtesy of Village Realty Holdings, Llc - Nh.
STUNNING NEW CONSTRUCTION 4 bedroom home just steps from the beach! This custom home is being built by two OBX favorites, Eric Maurer & David Brickle, owners of 2 Guys S...
- 4 Beds
- 6 Baths
Listing courtesy of Four Seasons Realty.
Lowest priced Corolla 7 bedroom 5th row home in popular Whalehead Club! Bright and airy great room with vaulted ceilings and newer LTV flooring!...multi level sun decks ...
- 7 Beds
- 6 Baths
Listing courtesy of Outer Banks Blue Realty Srvcs..
Adorable & well maintained coastal retreat boasting horizon views, updated interior, and desired amenities throughout! With a screened porch, two master suites, both sun ...
- 5 Beds
- 4 Baths
Listing courtesy of Twiddy & Company - Corolla.
TAKE A LOOK AT THIS PROPERTY....Immaculate and Well Maintained Condition!!! Ocean and Sound are just steps away from this Oceanside Home in Duck...Your rental guest and f...
- 4 Beds
- 4 Baths
Listing courtesy of Village Realty Holdings, Llc - Nh.
Rare opportunity!...Act quickly on this brand new construction 2022 custom home built by Lenz Homes! Located in a prime location just two blocks to the Avalon Pier and A...
- 4 Beds
- 5 Baths
Listing courtesy of Outer Banks Blue Realty Srvcs..
Lighthouse Jewel has been a consistent rental investment. The location on the north end on Dunton Street puts you close to the dining and activities at the shopping cente...
- 6 Beds
- 6 Baths
Listing courtesy of Brindley Beach Vacations-Main.
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Investment Home Primer
For those new to the OBX market, here is a quick overview:
Rental income is largely determined by your distance to the ocean. An oceanfront property will always rent better than one that is 3-4 rows back. They get a higher rental rate and typically rent for more weeks out of the year. A newer oceanfront home can rent for 24 weeks of the year, whereas a house that is 3-4 rows back may only rent for 16-18 weeks. With most investment properties, the strength of the investment is based on the cash flow (money in vs. money out). The way to analyze this is GRY (Gross Rental Yield). This is calculated by dividing the gross income by the purchase price. An example would be: If a home has a gross income of $85,000 and cost $1,000,000 the GRY = 8.5%. A general rule of thumb in our market is if the home produces a GRY of 8% or above, it should cover most all of the expenses, including mortgage.
Expenses can range from utilities, taxes, mortgage, property management, insurance, HOA fees & maintenance. These will vary depending on many things: An oceanfront home will have higher insurance rates. Some homes have very low HOA fees and others are quite high. A newer home will have fewer maintenance issues vs. an older home, etc
HOA fees will largely be determined by the services and amenities provided. Some subdivisions will offer swimming pools & tennis courts but the HOA fee will be higher to pay for these things. Other subdivisions may not offer an expansive list of amenities, thus the HOA fee is low.
Most of the OBX is on private septic systems, however there are subdivisions with sewer systems. Areas with septic will usually be platted on larger lots since the septic area takes up space. If a subdivision is set up on a sewer system, the lots may be very small. That means the houses could be much closer to each other. The HOA would also have to charge a fee for the sewer system usage.
Property management is big business here. There are many rental companies on the beach. The owner chooses who they want to use based on performance, rates, and services provided. The rate can range from 14% to 20% of gross rents depending on the services you want them to provide. You can either have them take care of everything (bookings, pool service, weekly cleanings, linens, landscaping, filter changes, etc) and that rate may be 18-20%. However, if you hire your own pool company and you do the landscaping yourself, that rate would be reduced. In NC, if the home is in a rental program, the new owner has to honor all weeks booked for at least 180 days from closing. That way a new owner can't simply cancel everyone's reservation.
All rental money is prorated to the day of closing. That means if you bought a house and closed on May 1st, you would own all the money from any week booked after May 1st. The seller would keep any money from the weeks occurring prior to May 1st.
This is an amenity driven market. The more amenities a house can offer will make it more attractive to potential renters. Swimming pools, hot tubs, gamerooms, views, theater rooms, etc are what renters desire and these amenities will increase your bottom line. Most of these homes are sold fully furnished, so you get most everything in the home included in the purchase price.
Chandler Spawr
obxhomes@gmail.com
(252)202-9880
For Marketing Examples visit our VIDEO PAGE to see how we can help you sell your property.