NOT LISTED FOR SALE

1175 Franklyn St Unit 215 Corolla, NC 27927

Estimated Value: $1,425,687 - $1,672,000

5 Beds
6.5 Baths
4,543 Sq Ft
$334/Sq Ft Est. Value

Last Sold October 26, 2020

Last sale price $940,000 $207 Per Sq Ft

Est. 61% increase in value since last sale

Current estimated payment $8,943/month

37 Days on Market

Highlights

  • Community Beach Access
  • Heated In Ground Pool
  • Clubhouse
  • Health Club
  • Gated Community
  • Coastal Architecture

About This Home

As of October 2020

This iconic home in Corolla Light is available now after years of private family enjoyment. It is in outstanding condition, always pampered and never rented. With 5 bedrooms, 6.5 bathrooms and luxury features throughout, this house will be a welcome find for a buyer looking for a premium beach home. Upon entering the front door, a dramatic foyer and staircase leads into a spacious interior of more than 4500 square feet on three floors. There are four bedrooms on the mid-level, most opening up to an outside deck. A study with built-in cherry cabinets and desk serves as a home office and could be converted to an additional sixth bedroom. On the covered deck is a hot-tub. Upstairs, the top floor living area is an open layout with cathedral ceilings and light filled windows. Oak hardwood floors and oversized ceramic tiles blend the kitchen and dining areas with the great room and loft. There is a gas fireplace with custom oak mantle and built-in cabinets. The upstairs living space is crowned with a shipswatch where guests can get a view of the ocean. Refreshments are nearby with a wet-bar, icemaker and fridge. The deluxe kitchen has custom cabinetry, granite countertops, and double sinks. The stainless-steel appliances are top of the line and include a gas range, double wall ovens, and oversize refrigerator. The master bedroom suite on this floor includes a large bathroom area with a beautiful tiled shower and designer sinks. On the ground level are two large tiled recreation rooms including a media room with wet-bar and a separate game room with full-size billiard table. A large garage provides a place for a vehicle, workshop and storage. On the first level is a full bathroom with shower to service this floor and connect to the outside swimming pool area. The backyard is a picture-perfect oasis where guests can swim, cook-out, and unwind. There is a built-in grill, and heated pool surrounded by a handsome paver deck. Colorful flowers from selected perennials and bushes are everywhere creating a lush outdoor space for relaxing and entertaining. The beach is a short walk away as are shops, restaurants and historic attractions. Located in the Corolla Light community, the home benefits from a long list of amenities offered. Residents and their guests can use the indoor sports center which is open year-round with its Olympic-sized pool, exercise rooms, and indoor tennis courts. The community’s Oceanfront Complex has a restaurant, two swimming pools, playground, beach access and more. Security and trolley service are provided. Make an appointment to see this very special home in Corolla.

Last Agent to Sell the Property

Scott Wheeler

Celebration Realty License #274905 Listed on: 07/20/2020

Last Buyer's Agent

Terry Cremia

Shore Realty License #204156

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $4,292

Year Built

  • Built in 1989

Lot Details

  • Property fronts a private road
  • Fenced Yard
  • Landscaped
  • Level Lot
  • Sprinkler System

HOA Fees

  • $277 Monthly HOA Fees

Home Design

  • Coastal Architecture
  • Contemporary Architecture
  • Slab Foundation
  • Frame Construction
  • Asphalt Shingled Roof
  • Wood Siding
  • Shake Siding
  • Piling Construction

Interior Spaces

  • 4,543 Sq Ft Home
  • Wet Bar
  • Furnished
  • Cathedral Ceiling
  • Ceiling Fan
  • Gas Fireplace
  • Window Treatments
  • Entrance Foyer
  • Library
  • Loft

Kitchen

  • Built-In Oven
  • Built-In Range
  • Microwave
  • Ice Maker
  • Dishwasher
  • Wine Cooler
  • Granite Countertops

Flooring

  • Wood
  • Carpet
  • Ceramic Tile

Bedrooms and Bathrooms

  • 5 Bedrooms
  • En-Suite Primary Bedroom
  • Cedar Closet

Laundry

  • Dryer
  • Washer

Home Security

  • Storm Doors
  • Fire and Smoke Detector

Parking

  • Garage
  • Carport
  • Garage Door Opener

Pool

  • Heated In Ground Pool
  • Outdoor Pool
  • Vinyl Pool
  • Outdoor Shower
  • Spa

Outdoor Features

  • Sun Deck
  • Covered Deck
  • Patio
  • Storage Shed

Utilities

  • Zoned Cooling
  • Heat Pump System
  • Fuel Tank
  • Municipal Utilities District for Water and Sewer

Community Details

Overview

  • Association fees include common insurance, management, pool, road maintenance, security, tennis courts, walkways
  • Don Cheek Association
  • Corolla Light Subdivision

Amenities

  • Common Area
  • Clubhouse

Recreation

  • Community Boardwalk
  • Community Beach Access
  • Health Club
  • Tennis Courts
  • Indoor Tennis Courts
  • Community Playground
  • Community Indoor Pool
  • Park

Security

  • Gated Community

Home Details

Home Type

Single Family

Est. Annual Taxes

$4,292

Year Built

Built in 1989

Lot Details

0

HOA Fees

$277 per month

Listing Details

  • Class: RESIDENTIAL
  • Style: Contemporary, Coastal
  • Directions: Off Rt 12 turn East on Austin Street into Main Entrance of Corolla Light. Turn right on Franklyn Street. House is second house on the left.
  • Extras: Beach Access, Boardwalk to Beach, Ceiling Fan(s), Covered Decks, Fenced Yard, Garage Door Opener, Hot Tub, Landscaped, Lawn Sprinklers, Outside Shower, Patio, Smoke Detector(s), Storage Shed, Storm Doors, Sun Deck, Dry Entry
  • Flood Zone: X
  • Subdivision Name: Corolla Light Resort
  • Headline: Showcase Home in Corolla Light
  • Heated Sq Ft: 4543
  • L V T Date: 07/21/2020
  • Roads: Paved, Private
  • Sale/Rent: For Sale
  • Waterfront Location: 3 - lots from oceanfront (4th row)
  • Zoning: RES
  • Deed Book Pg Number: 896
  • Destination Commerce Corp: Yes
  • Lone Wolf Real Estate Technologies: Yes
  • Major Subdivision: Corolla Light
  • Newpoint Media: Yes
  • Office License Number: C31179
  • Outer Banks Software: Yes
  • Terradatum Inc: Yes
  • W And R Studios: Yes
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Appliances: Countertop Range, Dishwasher, Dryer, Ice Machine, Microwave, Refrigerator w/Ice Maker, Wall Oven, Washer, Wine Cooler
  • Bedrooms: 5
  • Countertops: Granite
  • Floor Coverings: Carpet, Ceramic Tile, Hardwood
  • Foundation: Piling, Slab
  • Full Bathrooms: 6
  • Furnishings Available: Yes
  • Interior Amenities: All Window Treatments, Cathedral Ceiling(s), Cedar Closet(s), Dryer Connection, Gas Fireplace, Ice Maker Connection, Ensuite, Pantry, Washer Connection, Wet Bar
  • Optional Rooms: Foyer, Library/Study, Loft, Office, Shipswatch
  • Partial Bathrooms: 1

Exterior Features

  • Construction: Frame, Wood
  • Exterior: Shakes, Wood
  • Pool: Yes
  • Pool: Private and Association
  • Pool Type: Outdoor, In Ground, Vinyl, Heated, Private Pool, Association Pool
  • Roof: Asphalt/Fiber Shingle

Garage/Parking

  • Garage: 1 Car, Attached
  • Parking: Paved

Utilities

  • Cooling: Heat Pump, Zoned
  • Heating: Electric, Heat Pump
  • Fuel Tanks: Leased
  • Sewer/Septic System: Municipal Sewer
  • Water: Municipal

Condo/Co-op/Association

  • HOA Fee Includes: Common Insurance, Management, Pool, Road Maintenance, Security, Tennis Courts, Walkways
  • Association Amenities: Clubhouse, Gated Community, Health Club, Indoor-Comm. Pool, Indoor-Comm. Tennis, Ocean Access, Outdoor-Comm. Pool, Outdoor-Comm. Tennis, Park, Playground, Sound Access, Board Walk, Common Area
  • Association Fee: Yes
  • Estimated Annual Fee: 3329
  • Hoa Contact: Don Cheek
  • HOA Contact: Corolla Light Comm Assoc

Lot Info

  • Lot Description: Level
  • Deed Book: 1138

Building Info

  • Year Built: 1989

Tax Info

  • Year: 2019
  • Taxes: 4292

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 20, 2020
Closed on
Oct 26, 2020
Sold by
Hotchkiss Carter W and Hotchkiss Elizabeth Chandler
Bought by
Hager Mary K
Seller's Agent
Scott Wheeler
Celebration Realty
Buyer's Agent
Terry Cremia
Shore Realty
List Price
$939,000
Sold Price
$940,000
Premium/Discount to List
$1,000
0.11%
Current Estimated Value
$1,517,672

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$577,672
Avg. Annual Appreciation
10.23%
Original Mortgage
$705,000
Outstanding Balance
$627,350
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$890,322

Purchase Details

Closed on
Aug 31, 2010
Sold by
Hotchkiss Carter W and Williams Fielding L
Bought by
Hotchkiss Carter W and Williams Fielding L

Purchase Details

Closed on
Jun 30, 2010
Sold by
Hotchkiss Carter W and Hotchkiss Elizabeth A
Bought by
Hotchkiss Carter W and Hotchkiss Elizabeth A
Source: Public Records

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Hager Mary K $940,000 None Available
Hotchkiss Carter W -- None Available
Hotchkiss Carter W -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Hager Mary K $705,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/26/2020 10/26/20 Sold $940,000 +0.1% $207 / Sq Ft
08/26/2020 08/26/20 Pending -- -- --
08/24/2020 08/24/20 For Sale $939,000 0.0% $207 / Sq Ft
08/24/2020 08/24/20 Price Changed $939,000 -1.1% $207 / Sq Ft
07/24/2020 07/24/20 Pending -- -- --
07/20/2020 07/20/20 For Sale $949,000 -- $209 / Sq Ft
Source: Outer Banks Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $7,058 $920,200 $330,000 $590,200
2023 $7,058 $920,200 $330,000 $590,200
2022 $5,237 $920,200 $330,000 $590,200
2021 $5,221 $758,900 $300,000 $458,900
2020 $4,292 $758,900 $300,000 $458,900
2019 $4,292 $758,900 $300,000 $458,900
2018 $0 $758,900 $300,000 $458,900
2017 $3,893 $758,900 $300,000 $458,900
2016 $3,893 $758,900 $300,000 $458,900
2015 $3,893 $758,900 $300,000 $458,900
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Outer Banks Association of REALTORS®

MLS Number: 110203

Outer Banks Association of REALTORS®

APN: 115B-000-0215-0000