NOT LISTED FOR SALE

1897 Ocean Pearl Rd Corolla, NC 27927

Estimated Value: $2,671,620 - $3,517,000

17 Beds
17.5 Baths
8,820 Sq Ft
$354/Sq Ft Est. Value

Last Sold July 27, 2021

Last sale price $2,430,000 $276 Per Sq Ft

Est. 29% increase in value since last sale

Current estimated payment $17,546/month

84 Days on Market

Highlights

  • Beach Front
  • Home Theater
  • Second Refrigerator
  • Ocean View
  • Cabana
  • Craftsman Architecture

About This Home

As of July 2021

You will not want to miss this incredible opportunity for this spectacular oceanfront investment property! This ten acre estate with a gorgeous seventeen bedroom home is the ideal getaway on the beautiful northern beaches of the Outer Banks. You can watch the dolphins go by in the ocean and the wild horses stroll through your backyard, all while enjoying the luxury this beautiful home has to offer. Perfect for large family gatherings, the property has so much space and privacy, everyone can spread out in the various living and entertaining areas, all while enjoying the peace and tranquility in this amazing, serene setting. Stunning ocean views from everywhere you look! Tastefully decorated with bright, beachy décor, hardwood and tile floors, this home will be sure to please. Every one of the spacious seventeen bedrooms is en suite, so no sharing bathrooms! The first floor offers seven bedrooms and a large game room with a pool table, full fridge, microwave, wet bar, and a game table area. Rec room opens out to the large private pool with hot tub and even a cabana bar so you can enjoy a beverage or snack while relaxing by the pool or after taking a dip in the ocean using the private walkway to the beach. Mid level has seven more bedrooms, all with deck access so everyone can enjoy the ocean breezes and relax in the shade. There's a large theater room with tiered seating, perfect for some rainy day entertainment, all without having to leave the property! There is another living space to spread out in the mid level den with a wet bar, microwave and full fridge. Laundry room located on mid level too. The top floor is where you can gather the whole group in the very spacious great room with a cozy gas fireplace and plenty of seating. Living area flows into dining and kitchen spaces so entertaining while preparing meals is a breeze. Huge kitchen with two refrigerators, two dishwashers and a wine cooler. There are three more master bedrooms on this level (one with another gas fireplace), powder room, and a loft area, ideal for reading or just relaxing while taking in the spectacular views. Plenty of decks (new in Feb 2021) for soaking up the sun and enjoying your morning coffee as the sun comes up over the ocean! Consistently strong rental history. New decking, some new windows and slider, and new exterior trim going in Feb/Mar, so this beauty will be all ready for the 2021 rental season with a full calendar of bookings! Virtual tour coming soon.

Last Agent to Sell the Property

Heather McLay

OBX Homes License #188982 Listed on: 02/11/2021

OBX Homes

Last Buyer's Agent

Sarah Pritchard

SAGA Realty and Construction License #310311

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $6,941

Year Built

  • Built in 2005

Lot Details

  • Beach Front
  • Unpaved Streets

Home Design

  • Craftsman Architecture
  • Coastal Architecture
  • Reverse Style Home
  • Frame Construction
  • Asphalt Shingled Roof
  • Piling Construction
  • Cement Board or Planked

Interior Spaces

  • 8,820 Sq Ft Home
  • Elevator
  • Wet Bar
  • Furnished
  • Ceiling Fan
  • Gas Fireplace
  • Home Theater
  • Loft
  • Game Room
  • Ocean Views
  • Fire and Smoke Detector

Kitchen

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

Flooring

  • Wood
  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 17 Bedrooms
  • En-Suite Primary Bedroom
  • Hydromassage or Jetted Bathtub

Laundry

  • Dryer
  • Washer

Pool

  • Cabana
  • In Ground Pool
  • Outdoor Pool
  • Outdoor Shower
  • Spa

Utilities

  • Forced Air Zoned Heating and Cooling System
  • Heat Pump System
  • Private Water Source
  • Well
  • Private or Community Septic Tank

Listing and Financial Details

  • Tax Lot 14

Community Details

Overview

  • Swan Island Estates Subdivision

Recreation

  • Community Boardwalk

Home Details

Home Type

Single Family

Est. Annual Taxes

$6,941

Year Built

Built in 2005

Lot Details

10.61 Acres

Listing Details

  • Class: RESIDENTIAL
  • Style: Reverse Floor Plan, Craftsman, Coastal
  • Directions: Once driving on 4x4 access go north about 6 miles. There will be a ramp just before the 6th mile and take that ramp. House will be on the right side.
  • Extras: Beach Access, Boardwalk to Beach, Cabana, Ceiling Fan(s), Elevator, Hot Tub, Jet Tub, Outside Shower, Smoke Detector(s)
  • Headline: $286K already booked! WOW!
  • Heated Sq Ft: 8820
  • L V T Date: 02/11/2021
  • Roads: Unpaved
  • Sale/Rent: For Sale
  • Waterfront Location: Oceanfront
  • Zoning: res
  • Advertised Income 2020: 255455
  • Advertised Income 2021: 286098
  • Deed Book Pg Number: 881
  • Destination Commerce Corp: Yes
  • Lone Wolf Real Estate Technologies: Yes
  • Newpoint Media: Yes
  • Office License Number: C4556
  • Outer Banks Software: Yes
  • Terradatum Inc: Yes
  • W And R Studios: Yes
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Appliances: Dishwasher, Dryer, Microwave, Range/Oven, Refrigerator w/Ice Maker, Wall Oven, Washer, 2nd Dishwasher, 2nd Refrigerator, Wine Cooler
  • Bedrooms: 17
  • Countertops: Granite
  • Floor Coverings: Carpet, Tile, Wood
  • Foundation: Piling
  • Full Bathrooms: 17
  • Furnishings Available: Yes
  • Interior Amenities: Dryer Connection, Gas Connection, Gas Fireplace, Ice Maker Connection, Ensuite, Washer Connection, Wet Bar, 1st Flr Ensuite
  • Optional Rooms: Game Room, Loft, Home Theater, Media Room
  • Partial Bathrooms: 1

Exterior Features

  • Construction: Frame, Wood
  • Exterior: Cement Fiber Board
  • Pool: Yes
  • Pool: Private
  • Pool Type: Outdoor, In Ground, Private Pool
  • Roof: Asphalt/Fiber Shingle
  • View: Ocean

Utilities

  • Cooling: Central, Heat Pump, Zoned
  • Heating: Central, Electric, Heat Pump, Zoned
  • Sewer/Septic System: Private Septic
  • Water: Private, Well

Lot Info

  • Lot Description: Beach Frontage, Water Frontage
  • Lot Number: Lot 14
  • Deed Book: 1485

Rental Info

  • Lease Terms: Weekly
  • Rental Co: Twiddy and Company
  • Rental Cottage Name: Sand Break
  • Rental Cottage Number: T11896
  • Rental Phone Number: 252-457-1100
  • Rental Turnover Day: Saturday
  • Rental Contact Email: jkavanaugh@twiddy.com
  • Rental Contact Name: Jenn Kavanaugh
  • Rental Contact Phone: 252-457-1100

Building Info

  • Year Built: 2005

Tax Info

  • Year: 2020
  • Taxes: 6941.18

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 11, 2021
Closed on
Jul 19, 2021
Sold by
Julian Jr Llyod V
Bought by
Schafer Jason Stephen and Schafer Jennifer Lynn
Seller's Agent
Heather McLay
OBX Homes
Buyer's Agent
Sarah Pritchard
SAGA Realty and Construction
List Price
$2,695,000
Sold Price
$2,430,000
Premium/Discount to List
-$265,000
-9.83%
Current Estimated Value
$3,124,873

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$694,873
Avg. Annual Appreciation
5.56%
Original Mortgage
$1,701,000
Outstanding Balance
$1,538,149
Interest Rate
2.96%
Mortgage Type
New Conventional
Estimated Equity
$1,586,724

Purchase Details

Closed on
Jun 4, 2019
Sold by
Julian Lloyd
Bought by
Lloyd V Julian Jr Revocable Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,320,050
Interest Rate
4.2%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 3, 2008
Sold by
Julian Lloyd V and Julian Anne E
Bought by
Julian Lloyd and Lloyd V Julian Jr Revocable Trust

Purchase Details

Closed on
Jan 17, 2005
Sold by
Jones Randall L and Jones Stacey C
Bought by
Julian Lloyd and Julian Anne E
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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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
Schafer Jason Stephen $4,860 Mccown Linda H
Schafer Jason Stephen $4,860 Mccown Linda H
Lloyd V Julian Jr Revocable Trust -- Title Closing & Escrow Llc
Julian Lloyd -- None Available
Julian Lloyd -- None Available
Julian Lloyd $1,550,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Schafer Jason Stephen $1,701,000
Closed Schafer Jason Stephen $1,701,000
Previous Owner Julian Lloyd $1,320,050
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/27/2021 07/27/21 Sold $2,430,000 -8.1% $276 / Sq Ft
05/06/2021 05/06/21 Pending -- -- --
04/21/2021 04/21/21 Price Changed $2,645,000 -1.9% $300 / Sq Ft
02/11/2021 02/11/21 For Sale $2,695,000 -- $306 / Sq Ft
Source: Outer Banks Association of REALTORS®

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
2025 $10,172 $1,535,500 $400,000 $1,135,500
2024 $10,172 $1,535,500 $400,000 $1,135,500
2023 $10,163 $1,535,500 $400,000 $1,135,500
2022 $7,549 $1,535,500 $400,000 $1,135,500
2021 $7,582 $1,360,100 $365,000 $995,100
2020 $6,941 $1,360,100 $365,000 $995,100
2019 $6,678 $1,360,100 $365,000 $995,100
2018 $6,678 $1,348,200 $365,000 $983,200
2017 $6,585 $1,348,200 $365,000 $983,200
2016 $6,585 $1,348,200 $365,000 $983,200
2015 $6,585 $1,348,200 $365,000 $983,200
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Outer Banks Association of REALTORS®

MLS Number: 112884

Outer Banks Association of REALTORS®

APN: 100A-000-0014-0000

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