8023 S Old Oregon Inlet Road, Nags Head, NC 27959

$2,499,000
8
BD
7
BA
3,840
SqFt
List Price
$2,499,000
MLS#
115106
Status
ACTIVE
Type
Single Family Residential
Property Type
Single Family - Detached
Bedrooms
8
Bathrooms
7
Full-baths
6
Half-baths
1
Living Area
3,840
Neighborhood
Bodie Isl Beach

Property Description

Sparing no expense, this spectacularly renovated, professionally decorated, turnkey 8-bedroom oceanfront in South Nags Head has over $276k 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. 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) Did we mention 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 $276K already on the books and $295K 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!

Additional Information

Air Conditioning
Heat Pump
Appliances
Dishwasher, Dryer, Ice Machine, Microwave, Range/Oven, Refrigerator w/Ice Maker, Washer, 2nd Refrigerator
Construction
Frame
Countertops
Granite
Siding
Vinyl
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 Coverings
Tile, Vinyl Tile
Foundation
Piling
Garage
None
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
Lot Description
Beach Frontage
Optional Rooms
Game Room, Pantry
Parking
Paved, Under, Unpaved
Pool
Yes
Possession
Subject to Tenancy
Roads
Paved, Public
Roof
Asphalt/Fiber Shingle
Sewer
Private Septic
Style
Reverse Floor Plan
View
Ocean
Well
Municipal
Zip
27959
Neighborhood
Bodie Isl Beach
Lot Dimension
19500
Year Built
1998
Directions
South on NC-12, just past Jennettes Pier at Whalebone Junction. Home on left just past Dolphin Motel.
County
Dare
Rental Co
Sun Realty
Rental Cottage #
SAILS-1
Rental Cottage Name
Obx Paradise
Furnishings Available
Yes
Bill of Sale in $
Yes
Bill of Sale Amt
1

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Calculator source: Real Geeks

Listing courtesy of Sun Realty - Kdh.

Listed by Ian Lassiter

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