$2,499,000 8023 S Old Oregon Inlet Road Nags Head, NC

MLS: 115106   Type: Single Family   County: Dare   City: Nags Head   Area: S. N.h. East-old Oregon R   Neighborhood: Bodie Isl Beach   Zip: 27959   Style: Reverse Floor Plan     Stories: 1   Taxes: $9,272

Mortgage $11,732 /mo



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Sparing no expense, this spectacularly renovated, professionally decorated, turnkey 8-bedroom oceanfront in South Nags Head has over $280k 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 $280K 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!

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Price History

7/7/2021 Listed $2,499,000

Appliances 2nd Refrigerator, Dishwasher, Dryer, Ice Machine, Microwave, Range/Oven, Refrigerator w/Ice Maker, Washer
Beds 8
Construction Frame
Cooling Heat Pump
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
Financing Options Cash, Conventional, Jumbo Loan
Flood Zone Zone AO
Full Baths 6
Garage None
Half Baths 1
Heating Heat Pump
Lease Terms Weekly
Listing Area S. N.H. East/Old Oregon R
Ownership Owned 12 Months or less
Parking Paved, Under, Unpaved
Potential Short Sale No
Roof Asphalt/Fiber Shingle
Section NA
Status Active
Status Active
Style Reverse Floor Plan
Subdivision NC
Subdivision Bodie Island Beach
Tax Year 2020
Taxes 9272.68
Type Single Family - Detached
View Ocean
Water Municipal
Waterfront 75
Waterfront Location Oceanfront
Year Built 1998
Zoning res

Interior Features

Floor Covering Tile, Vinyl Tile
Furnishings Available Y/n Yes
Heated Living Area Sq Footage 3840
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
Subdivision Bodie Isl Beach

Exterior Features

Approx.lot Sqft 19500
Exterior Vinyl
Foundation Piling
Lot Description Beach Frontage
Pool (Y/N) Yes
Pool Type Private
Pool Y/N Fiberglass, Heated, In Ground, Private Pool
Roads Paved, Public

Property Schools

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Gallery (36 photos)

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Property vs Zip Code Avg (27959)

Price 2.49M Avg 1.14M

Sqr Feet 3,840 Avg 2,608

Cost / Sqr Ft $651 Avg $440

Taxes $9,272 Avg $5,235

Acres 0.45 Avg 0.2

Visits 65 Avg 137

Days on Site 26 Avg 38

Walkscore® 34 Avg 27

Data Provided by Walkscore ® not using MLS data

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Listing Provided Courtesy Of: Ian M Lassiter @ Sun Realty - KDH

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Location & Address

Buy the Beach Realty, LLC
115 W. Oregon Avenue Unit 2
Kill Devil Hills, NC