NOT LISTED FOR SALE

26397 Colony Dr Salvo, NC 27972

Salvo Area

Estimated Value: $692,000 - $4,492,000

4 Beds
2 Baths
1,680 Sq Ft
$1,105/Sq Ft Est. Value

Sale Details

Date Sold: June 6, 2023

Last sale price $1,065,000 $634 Per Sq Ft

Est. 74% increase in value since last sale

Current estimated payment $10,578 / mo

42 Days on Market

Highlights

  • Ocean Front
  • In Ground Pool
  • Game Room
  • Beach Access
  • Furnished
  • Breakfast Area or Nook

About This Home

As of June 2023

With $121K owner gross YTD for 2023, you'd be hard pressed to find another 4 bedroom home that produces like this. That's backed up with $116K in 2022 so consistent as well. Never satisfied Beach Gem has undergone further updates this past off season with a new bathroom, updated kitchen, paint, stairs and more all done with rental income in mind. This money maker or better said Beach GEM is an incredible chance for the right buyer to jump into the exploding Hatteras Island rental market. As the northern beaches become more and more crowded, many of the original visitors to the Outer Banks seek the pace and lifestyle that made our island the famous destination it became. Insert Hatteras Island, hidden from the 4 lane bypasses and still operating under the relaxing island lifestyle. Salvo sits on the northern tip of HI, with Beach Gem having 100+ yards of well established dune in front maintained by park service providing excellent protection from the storms that batter other oceanfront properties. In addition, the recently finished Jug Handle Bridge provides Hatteras residents a route around the famously fragile S-Turns in Rodanthe aiming to improve access to the island. Oceanfront with private pool, in a protected and blossoming area of our beach, with rental income both past and present justifying the reasonable price. Schedule your showing now, before it's packed with renters for the Summer. One final note, Beach Gem has turned to private management for 2023, giving buyers the flexibility to chose who they want for a property manager. An underappreciated perk to educated buyers. Closed for updates January-March, Beach Gem currently has $121K on the books through AirBnB with $135K projected.

Last Agent to Sell the Property

Ian Lassiter

Keller Williams Outer Banks KDH License #273751 Listed on: 03/15/2023

Keller Williams Outer Banks KDH

Last Buyer's Agent

Stacey Baittinger

Carolina Designs Realty License #204729

Range of Values:

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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 Details

Home Type

  • Single Family

Est. Annual Taxes

  • $3,350

Year Built

  • Built in 1973

Lot Details

  • Ocean Front
  • Property is zoned S1

Home Design

  • Frame Construction
  • Asphalt Shingled Roof
  • Shake Siding
  • Piling Construction

Interior Spaces

  • 1,680 Sq Ft Home
  • Furnished
  • Ceiling Fan
  • Window Treatments
  • Game Room
  • Ocean Views
  • Fire and Smoke Detector

Kitchen

  • Breakfast Area or Nook
  • Oven or Range
  • Microwave
  • Dishwasher
  • Laminate Countertops

Flooring

  • Carpet
  • Ceramic Tile

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Full Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Parking

  • Unpaved Parking
  • Off-Street Parking

Pool

  • In Ground Pool
  • Fiberglass Pool
  • Spa
  • Outdoor Shower

Outdoor Features

  • Beach Access
  • Covered Deck
  • Exterior Lighting
  • Tiki or Chickee Hut

Utilities

  • Central Air
  • Heating Available
  • Municipal Utilities District Water
  • Private or Community Septic Tank

Community Details

  • Hatteras Colony Subdivision

Listing and Financial Details

  • Tax Lot 11

Home Details

Home Type

Single Family

Est. Annual Taxes

$3,350

Year Built

Built in 1973

Lot Details

10,019 Sq Ft Lot

Listing Details

  • Class: RESIDENTIAL
  • Directions: Turn onto Monitor Lane in Salvo and go 0.19miles. Turn LEFT onto Colony Dr and Beach Gem is on RIGHT
  • Extras: Beach Access, Ceiling Fan(s), Covered Decks, Hot Tub, Outside Lighting, Outside Shower, Smoke Detector(s), Tiki Bar, Inside Laundry Room
  • Flood Zone: Shaded X
  • Headline: 11% ROI with updates!
  • Heated Sq Ft: 1680
  • L V T Date: 03/15/2023
  • Roads: Paved, Public
  • Sale/Rent: For Sale
  • Section: C
  • Waterfront Location: Oceanfront
  • Zoning: S1
  • Advertised Income 2022: 125000
  • Deed Book Pg Number: 0562
  • Destination Commerce Corp: Yes
  • Lone Wolf Real Estate Technologies: Yes
  • Newpoint Media: Yes
  • Office License Number: C20671
  • 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, Washer
  • Bedrooms: 4
  • Countertops: Laminate
  • Floor Coverings: Carpet, Ceramic Tile
  • Foundation: Piling
  • Full Bathrooms: 2
  • Furnishings Available: Yes
  • Interior Amenities: Dryer Connection, Some Windows Treated, Washer Connection
  • Optional Rooms: Breakfast Nook, Game Room

Exterior Features

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

Garage/Parking

  • Parking: Off Street, Unpaved

Utilities

  • Cooling: Central
  • Heating: Electric
  • Sewer/Septic System: Private Septic
  • Water: Municipal

Condo/Co-op/Association

  • Home Owner Dwelling Insurance: 2998

Lot Info

  • Lot Description: Water Frontage
  • Lot Number: Lot 11
  • Deed Book: 2526

Rental Info

  • Lease Terms: Weekly
  • Maintenance Expenses: 672
  • Poolspa Expense: 4187
  • Rental Co: VRBO
  • Rental Cottage Name: Beach Gem
  • Rental Turnover Day: Saturday
  • Annual Cable TV Expense: 1107
  • Annual Electric: 5736
  • Annual Water Expense: 908
  • Rental Contact Name: Home is managed by seller w/ local HSKP/MAINT

Building Info

  • Year Built: 1973

Tax Info

  • Year: 2022
  • Taxes: 3349.76

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
Mar 15, 2023
Closed on
Jun 5, 2023
Sold by
Malpezzi Michael Bryant and Malpezzi Kelly
Bought by
Seller's Agent
Ian Lassiter
Keller Williams Outer Banks KDH
Buyer's Agent
Stacey Baittinger
Carolina Designs Realty
List Price
$1,090,000
Sold Price
$1,065,000
Premium/Discount to List
-$25,000
-2.29%
Views
28
Current Estimated Value
$1,856,686

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$791,686
Avg. Annual Appreciation
18.65%
Original Mortgage
$600,000
Outstanding Balance
$577,405
Interest Rate
6.39%
Mortgage Type
New Conventional
Estimated Equity
$1,279,281

Purchase Details

Listed on
Apr 12, 2021
Closed on
Jul 13, 2021
Sold by
Jenkins Christy C and Jenkins Robert H
Bought by
Malpezzi Michael Bryant
Seller's Agent
Four Seasons Realty
Four Seasons Realty
Buyer's Agent
Al Friedman
Sun Realty - KDH
List Price
$650,000
Sold Price
$652,000
Premium/Discount to List
$2,000
0.31%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
29.64%
Original Mortgage
$548,250
Interest Rate
2.9%
Mortgage Type
New Conventional

Purchase Details

Listed on
Nov 27, 2013
Closed on
Feb 12, 2015
Sold by
Zimmerman Albert V and Zimmerman Elizabeth
Bought by
Jenkins Robert H and Jenkins Christy C
Seller's Agent
Deanna B. Dorman
Surf or Sound Realty - Rodanthe
Buyer's Agent
Rick Drumm
Beach Realty & Construction-KH
List Price
$442,500
Sold Price
$350,000
Premium/Discount to List
-$92,500
-20.9%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.23%
Original Mortgage
$280,000
Interest Rate
3.77%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 30, 2012
Sold by
Zimmerman Albert V and Zimmerman V A
Bought by
Zimmerman Albert V and Greenbacker Sarah Helen
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
$6,390,000 None Listed On Document
Malpezzi Michael Bryant $652,000 None Available
Jenkins Robert H -- Attorney
Zimmerman Albert V -- 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
Open $600,000
Previous Owner Malpezzi Michael Bryant $548,250
Previous Owner Jenkins Robert H $280,000
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 Prior Sale
06/06/2023 06/06/23 Sold $1,065,000 -2.3% $634 / Sq Ft
04/26/2023 04/26/23 Pending -- -- --
03/15/2023 03/15/23 For Sale $1,090,000 +67.2% $649 / Sq Ft
07/15/2021 07/15/21 Sold $652,000 +0.3% $388 / Sq Ft View Prior Sale
05/26/2021 05/26/21 Pending -- -- --
05/18/2021 05/18/21 For Sale $650,000 0.0% $387 / Sq Ft
04/29/2021 04/29/21 Pending -- -- --
04/19/2021 04/19/21 For Sale $650,000 0.0% $387 / Sq Ft
04/13/2021 04/13/21 Pending -- -- --
04/12/2021 04/12/21 For Sale $650,000 +85.7% $387 / Sq Ft
02/25/2015 02/25/15 Sold $350,000 -20.9% $208 / Sq Ft View Prior Sale
01/09/2015 01/09/15 Pending -- -- --
11/27/2013 11/27/13 For Sale $442,500 -- $263 / 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 $4,598 $1,044,900 $535,000 $509,900
2024 $3,581 $555,700 $325,000 $230,700
2023 $3,462 $564,928 $325,000 $239,928
2022 $3,405 $564,928 $325,000 $239,928
2021 $3,354 $564,928 $325,000 $239,928
2020 $3,341 $564,928 $325,000 $239,928
2019 $2,852 $407,300 $283,800 $123,500
2018 $2,698 $386,100 $283,800 $102,300
2017 $2,698 $386,100 $283,800 $102,300
2016 $2,518 $386,100 $283,800 $102,300
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Outer Banks Association of REALTORS®

MLS Number: 121693

Outer Banks Association of REALTORS®

APN: 012976000

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