NOT LISTED FOR SALE

26044 Colony Dr Salvo, NC 27972

Salvo Area

Estimated Value: $1,078,830 - $1,334,000

5 Beds
5.5 Baths
3,298 Sq Ft
$367/Sq Ft Est. Value

Sale Details

Date Sold: December 21, 2012

Last sale price $712,500 $216 Per Sq Ft

Est. 70% increase in value since last sale

Current estimated payment $7,060 / mo

174 Days on Market

Highlights

  • Community Beach Access
  • Concrete Pool
  • Coastal Architecture
  • Ocean Front
  • Second Refrigerator
  • Cathedral Ceiling

About This Home

As of December 2012

Outstanding Investment Opportunity! Premier oceanfront home assessed at $1,346,925.00 and currently being offered at less than 60% of the tax assessed value...even better this home has 10% Capitalization Rate with $79,855.00 in rental income for 2011...$78,785.00 already booked YTD for 2012 (including owners week July 28-Aug 4). This home was custom built for the owner in 2002...3,300 square foot and boasts outstanding views of both ocean and sound, 14 x 30 private pool (heated), a three-story elevator, handicap ramp into the home and a handicapped friendly bedroom and bathroom. The ground level features the game room with pool table and foosball, wet bar with mini fridge, laundry… room, bedroom with 2 sets of bunks and full bath. On the mid level, you'll find 3 master bedrooms each with full bath (one handicapped friendly with roll-in shower). Also on this level, find east-facing decking for some awesome ocean vistas. Once you've cooked up today's catch, you can dine indoors then treat yourself to a cocktail and a gorgeous sunset on the furnished screened porch. Definitely on of the best investments on the Outer Banks today...well appointed and a strong rental history with $79,855 for 2011 , $74,048 in 2010, $76,275 in 2009, and $77,680 in 2008.

Last Agent to Sell the Property

Rob Petty

Outer Banks Home Group License #224417 Listed on: 06/13/2012

Last Buyer's Agent

Trisha Midgett

Midgett Realty - Rodanthe License #162204

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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List Price
Sold Price
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Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $5,522

Year Built

  • Built in 2002

Lot Details

  • 10,150 Sq Ft Lot
  • Lot Dimensions are 145 x 70
  • Ocean Front

Parking

  • Paved Parking

Property Views

  • Ocean Views
  • Views of a Sound

Home Design

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

Interior Spaces

  • 3,298 Sq Ft Home
  • Elevator
  • Furnished
  • Cathedral Ceiling
  • Gas Fireplace
  • Window Treatments
  • Game Room

Kitchen

  • Oven or Range
  • Microwave
  • Second Refrigerator
  • Ice Maker
  • Dishwasher
  • Laminate Countertops

Flooring

  • Carpet
  • Ceramic Tile

Bedrooms and Bathrooms

  • 5 Bedrooms
  • En-Suite Primary Bedroom

Laundry

  • Dryer
  • Washer

Accessible Home Design

  • Handicap Accessible

Pool

  • Concrete Pool
  • In Ground Pool
  • Spa
  • Outdoor Shower
  • Gunite Pool

Outdoor Features

  • Sun Deck
  • Exterior Lighting

Utilities

  • Zoned Heating and Cooling
  • Heat Pump System
  • Municipal Utilities District Water
  • Private or Community Septic Tank

Listing and Financial Details

  • Tax Lot 20

Community Details

Overview

  • Built by Sanderling Construction
  • Hatteras Colony Subdivision

Recreation

  • Community Beach Access

Home Details

Home Type

Single Family

Est. Annual Taxes

$5,522

Year Built

Built in 2002

Lot Details

10,150 Sq Ft Lot

Listing Details

  • Class: RESIDENTIAL
  • Style: Reverse Floor Plan, Coastal
  • Directions: Hwy 12 to Salvo, turn onto Rampart St (Surf or Sound Realty), second right on Colony Drive, on left.
  • Extras: Beach Access, Elevator, Handicap Friendly, Hot Tub, Outside Lighting, Outside Shower, Sun Deck
  • Flood Zone: AE
  • Subdivision Name: Hatteras Colony Subdivsion
  • Headline: "10% Cap Rate"
  • Heated Sq Ft: 3298
  • Roads: Paved
  • Sale/Rent: For Sale
  • Section: E
  • Waterfront Location: Oceanfront
  • Zoning: Res
  • Deed Book Pg Number: 0351
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Appliances: Dishwasher, Dryer, Ice Machine, Microwave, Range/Oven, Refrigerator w/Ice Maker, Washer, 2nd Refrigerator
  • Bedrooms: 5
  • Countertops: Laminate
  • Floor Coverings: Carpet, Ceramic Tile
  • Foundation: Piling
  • Full Bathrooms: 5
  • Furnishings Available: Yes
  • Interior Amenities: All Window Treatments, Cathedral Ceiling(s), Dryer Connection, Gas Connection, Gas Fireplace, Ice Maker Connection, Ensuite, Washer Connection
  • Optional Rooms: Game Room
  • Partial Bathrooms: 1

Exterior Features

  • Homebuilder: Sanderling Construction
  • Construction: Frame, Wood
  • Exterior: Cement Fiber Board
  • Pool: Yes
  • Pool Type: Outdoor, In Ground, Gunite, Concrete
  • Roof: Asphalt/Fiber Shingle
  • Street Frontage: 70
  • View: Ocean, Sound

Garage/Parking

  • Parking: Paved

Utilities

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

Condo/Co-op/Association

  • Association Amenities: Ocean Access, Sound Access
  • Home Owner Dwelling Insurance: 3803

Lot Info

  • Estimated Lot Sq Ft: 10150
  • Lot Faces: E
  • Lot Size: 145 x 70
  • Lot Number: Lot 20
  • Deed Book: 1385

Rental Info

  • Est Annual Rental Income: 79855
  • Estimated Rental Performance: 0.1121
  • Lease Terms: Weekly
  • Maintenance Expenses: 3165
  • Other Expenses: 932
  • Other Expenses2: 415
  • Poolspa Expense: 4243
  • Rental Co: Surf or Sound Realty
  • Rental Cottage Name: A Beach Dream
  • Rental Cottage Number: 323
  • Rental Phone Number: 987-1444
  • Rental Turnover Day: Saturday
  • Yearly Expense Actual Estimate: Actual
  • Annual Cable TV Expense: 746
  • Annual Electric: 4371
  • Annual Telephone Expense: 449
  • Annual Water Expense: 685

Building Info

  • Year Built: 2002

Multi Family

  • No. of Units: 1

Tax Info

  • Year: 2011
  • Taxes: 5522.39

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 13, 2012
Closed on
Dec 18, 2012
Sold by
Bought by
Seller's Agent
Rob Petty
Outer Banks Home Group
Buyer's Agent
Trisha Midgett
Midgett Realty - Rodanthe
List Price
$795,000
Sold Price
$712,500
Premium/Discount to List
-$82,500
-10.38%
Current Estimated Value
$1,209,958

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$497,458
Avg. Annual Appreciation
3.95%
Original Mortgage
$417,000
Interest Rate
3.35%
Mortgage Type
New Conventional
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in Salvo, NC

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$712,500 None Available
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Closed $417,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
12/21/2012 12/21/12 Sold $712,500 -10.4% $216 / Sq Ft
12/04/2012 12/04/12 Pending -- -- --
06/13/2012 06/13/12 For Sale $795,000 -- $241 / Sq Ft
Source: Outer Banks Association of REALTORS®

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $5,075 $1,151,000 $535,000 $616,000
2024 $2,558 $788,000 $325,000 $463,000
2023 $4,942 $806,520 $325,000 $481,520
2022 $4,862 $806,520 $325,000 $481,520
2021 $4,792 $806,520 $325,000 $481,520
2020 $4,770 $806,520 $325,000 $481,520
2019 $5,197 $731,100 $283,800 $447,300
2018 $5,212 $731,100 $283,800 $447,300
2017 $5,212 $731,100 $283,800 $447,300
2016 $4,849 $731,100 $283,800 $447,300
2014 $4,841 $729,800 $283,800 $446,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Outer Banks Association of REALTORS®

MLS Number: 75205

Outer Banks Association of REALTORS®

APN: 012852000

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