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$2,499,000
8023 S Old Oregon Inlet Road, Nags Head, NC 27959
8 Beds
7 Baths
3,840 sqft

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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 estatelocation, 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 Jennettes Pier, one of the hottest wedding venues on the Outer Banks. Also, wed 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!
  • Price:
  • $2,499,000
  • Bedrooms:
  • 8
  • Full Baths:
  • 6
  • Half Baths:
  • 1
  • Square Footage:
  • 3,840
  • Acreage:
  • 0.45
  • Year Built:
  • 1998
  • Listing ID #:
  • 115106
  • Street Address:
  • 8023 S Old Oregon Inlet Road
  • City:
  • Nags Head
  • State:
  • North Carolina
  • Postal Code:
  • 27959
  • County:
  • Dare
  • Community:
  • S. N.H. East/Old Oregon R
  • Subdivision:
  • Bodie Isl Beach
  • Listing Status:
  • Under Contract
  • Listing Type:
  • Single Family - Detached
  • Construction Description:
  • Frame
  • Exterior Features:
  • Vinyl
  • Flooring:
  • Tile, Vinyl Tile
  • Foundation:
  • Piling
  • Interior Features:
  • 9' Ceilings, Dryer Connection, Gas Connection, Gas Fireplace, Ice Maker Connection, Master Bath (ensuite), Pantry, Some Windows Treated, Washer Connection, Wet Bar
  • Style:
  • Reverse Floor Plan
  • Total Building Square Footage:
  • 3840
  • Type Of Roof:
  • Asphalt/Fiber Shingle
  • View:
  • Ocean
  • Year Built:
  • 1998
  • Conforms To Zoning:
  • Res
  • Federal Flood Zone:
  • Ao
  • Lot Description:
  • Beach Frontage
  • Lot Square Footage:
  • 19500
  • Road Type:
  • Paved, Public
  • Section:
  • Na
  • Days On Market:
  • 78
  • Financing Options:
  • Cash, Conventional, Jumbo Loan
  • For Sale Or Lease?:
  • For Sale
  • Lease Terms:
  • Weekly
  • Hoa Y/N:
  • No - Restrictive Covenants May Apply
  • Ownership:
  • Owned 12 Months Or Less
  • Property Taxes:
  • $9,272
  • Tax Year:
  • 2020
  • Parking Description:
  • Paved, Under, Unpaved
  • Pool:
  • Yes
  • Pool Description:
  • In Ground, Fiberglass, Heated, Private Pool
  • Pool Type:
  • Private
  • Appliances:
  • Dishwasher, Dryer, Ice Machine, Microwave, Range/Oven, Refrigerator W/Ice Maker, Washer, 2nd Refrigerator
  • Cooling System:
  • Heat Pump
  • Existing Water:
  • Municipal
  • Heating:
  • Heat Pump
  • Sewage Type:
  • Private Septic
  • Waterfront Description:
  • Oceanfront
  • Waterfront Footage:
  • 75
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo

Source: CINC

  • Listing Provided By Ian Lassiter of Sun Realty - Kdh
  • OUTERBANKS

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