NOT LISTED FOR SALE

472 Pipsis Point Rd Corolla, NC 27927

Estimated Value: $1,554,000 - $1,792,000

5 Beds
6.5 Baths
3,635 Sq Ft
$465/Sq Ft Est. Value

Last Sold June 12, 2023

Last sale price $1,775,000 $488 Per Sq Ft

Est. 5% decrease in value since last sale

Current estimated payment $9,744/month

13 Days on Market

Highlights

  • Community Beach Access
  • Home Theater
  • Second Refrigerator
  • Ocean Front
  • Cabana
  • Coastal Architecture

About This Home

As of June 2023

472 Pipsis Point Rd, "The Summerhouse"; a beautiful, classically styled Pine Island Semi-Oceanfront property, located in a quiet, private setting, one of the best semi-oceanfront positions on the Outer Banks, offering an opulent & open 3,635 sf design, multiple good caliber ocean views, large private pool area with cabana, garage, all well cared for and in good, clean condition...inside & out! The large lot sizes in this area, along with good property spacing, and natural vegetation, provides a tranquil feel and setting, with several wide 'view alleys', all just 300' from the community beach access. Well designed & comfortable floorplan, offering an open & bright great room, with 14' ceilings, extensive floor to ceiling window fenestration, great ocean views, reclaimed antique Heart Pine wood flooring (from original Sears Catalog Building in Chicago, IL), with East and Southern exposure, ample open decking and a great screened porch, with customized wood dining table & a cool serving window pass through to the kitchen. Enjoy breakfast, lunch, or pick some crabs for dinner! This is a clean and comfortable home, with ocean views, easy ocean access, great private pool area with cabana building, in a top notch community....everything guests desire! Along with large comfortable bedrooms, the home design offers multiple (4) common areas, including ground level game room with wet bar and foosball, mid level media room, top level library, and a loft. Conversion of the mid level media room to a 6th bedroom may be possible, subject to County and POA approval, see broker notes. This is an attractive and well maintained property, ready for immediate use and enjoyment, with many upgrades and updates over time; including updated 2023 great room & 3rd floor master bedroom quality Exotic Home furnishings & decor, updated fixtures / lighting, 2023 interior painting, a 2022 'Fortified' Certified Roof w/ certificate, (2) 2021 water heaters, and more. The home is clean, clean, clean, and will be a pleasure to show and own. The ground level provides expanded concrete driveway, mature and low maintenance coastal themed landscaping, full sized garage, carport with dry entry, 2 outside showers, large private pool area with afternoon sun and pool cabana building for shade, game room, twin bedroom, full bath, and laundry. Split level foyer entrance, with composite decking & vinyl railings, then the mid level provides 2 large master suites, bunk room serviced by full hall bath, media room with pull out couch, ample decking on front, side and rear of the home, & hot tub area. Top level offers open great room, 1/2 bath, loft, library room, granite kitchen w/ pantry, fireplace, large master suite w/ high ceilings & transom windows. Owner storage closets on all three levels. This home is fully booked for this summers rental season, providing a perfect time for a new owner to collect seasonal enjoyment & income w/o off season ownership. Owner limits rental availability, offered just from 5/28/23 to 10/1/23. With just 15 weeks of availability, if desired rental income could be increased significantly by providing more availability. Spanning over 3 miles of coastline, the Pine Island community provides one of the quietest sections of beach on the Outer Banks, with a good amenity package, including an outdoor pool, tennis, and basketball facility just a few homes away from this location, and a large oceanfront pool complex as well, security services, and trash bin roll out and in. This home is well positioned almost equal distances from the Town of Duck, accessible by 'off the road' biking paths, and from Tim Buck II and Monterey Plaza shopping and dining, and all Corolla has to offer. Take advantage of this excellent OBX opportunity today and capture summer use, enjoyment, and rental income. Additional photos at: https://www.mylisting.cloud/v2/DWVPOGM/unbra

Last Agent to Sell the Property

Mark Massey

Outer Banks Realty Group License #188389 Listed on: 04/08/2023

Last Buyer's Agent

Beth Urch

Beach Realty & Construction License #218895

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $5,544

Year Built

  • Built in 1995

Lot Details

  • 0.42 Acre Lot
  • Ocean Front
  • Property fronts a private road
  • Cul-De-Sac
  • Landscaped
  • Level Lot
  • Property is zoned SFO

HOA Fees

  • $257 Monthly HOA Fees

Home Design

  • Coastal Architecture
  • Cottage
  • Reverse Style Home
  • Slab Foundation
  • Frame Construction
  • Asphalt Shingled Roof
  • Wood Siding
  • Shake Siding
  • Piling Construction

Interior Spaces

  • 3,635 Sq Ft Home
  • Furnished
  • Cathedral Ceiling
  • Ceiling Fan
  • Gas Fireplace
  • Window Treatments
  • Entrance Foyer
  • Home Theater
  • Library
  • Loft
  • Game Room
  • Workshop
  • Screened Porch
  • Ocean Views

Kitchen

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

Flooring

  • Wood
  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 5 Bedrooms
  • En-Suite Primary Bedroom
  • Cedar Closet
  • Hydromassage or Jetted Bathtub

Laundry

  • Laundry Room
  • Dryer
  • Washer

Home Security

  • Home Security System
  • Storm Windows
  • Fire and Smoke Detector

Parking

  • Tuck Under Parking
  • Paved Parking
  • Off-Street Parking

Pool

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

Outdoor Features

  • Sun Deck
  • Covered Deck
  • Exterior Lighting
  • Storage Shed

Utilities

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

Listing and Financial Details

  • Tax Lot 15

Community Details

Overview

  • Association fees include common electric, common insurance, management, pool, road maintenance, security, tennis courts, walkways
  • Seaside Management Association, Phone Number (252) 261-1200
  • Pine Island Pud Subdivision

Amenities

  • Common Area

Recreation

  • Community Boardwalk
  • Community Beach Access
  • Tennis Courts
  • Community Playground
  • Community Pool
  • Park

Home Details

Home Type

Single Family

Est. Annual Taxes

$5,544

Year Built

Built in 1995

Lot Details

0

HOA Fees

$257 per month

Listing Details

  • Class: RESIDENTIAL
  • Style: Reverse Floor Plan, Coastal, Cottage
  • Directions: Into Northern Pine Island Entrance, left / North of North Cove Rd, Left / North on Pipsis Point, in Cul de Sac.
  • Extras: Beach Access, Boardwalk to Beach, Cabana, Ceiling Fan(s), Covered Decks, Hot Tub, Jet Tub, Landscaped, Outside Lighting, Outside Shower, Screened Porch, Security System, Smoke Detector(s), Storage Shed, Storm Windows, Sun Deck, Dry Entry, Inside Laundry Room
  • Flood Zone: X
  • Subdivision Name: Pine Island
  • Headline: Great Semi-Oceanfront location
  • Heated Sq Ft: 3635
  • L V T Date: 04/08/2023
  • Roads: Paved, Private
  • Sale/Rent: For Sale
  • Waterfront Location: Semi-Oceanfront (2nd row)
  • Zoning: SFO
  • Deed Book Pg Number: 407
  • Destination Commerce Corp: Yes
  • Lone Wolf Real Estate Technologies: Yes
  • Newpoint Media: Yes
  • Office License Number: C25379
  • Outer Banks Software: Yes
  • Terradatum Inc: Yes
  • W And R Studios: Yes
  • 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: Granite
  • Electronic Locks: Owned
  • Floor Coverings: Carpet, Tile, Hardwood, Vinyl Tile
  • Foundation: Piling, Slab
  • Full Bathrooms: 6
  • Furnishings Available: Yes
  • Interior Amenities: All Window Treatments, Cathedral Ceiling(s), Cedar Closet(s), Dryer Connection, Gas Connection, Gas Fireplace, Ice Maker Connection, Ensuite, Pantry, Washer Connection
  • Optional Rooms: Foyer, Game Room, Library/Study, Loft, Office, Pantry, Workshop, Shipswatch, Media Room
  • Partial Bathrooms: 1

Exterior Features

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

Garage/Parking

  • Garage: Attached, 1 Car, Carport
  • Parking: Paved, Off Street, Under

Utilities

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

Condo/Co-op/Association

  • HOA Fee Includes: Common Electric, Common Insurance, Management, Pool, Road Maintenance, Security, Tennis Courts, Walkways
  • Association Amenities: Ocean Access, Outdoor-Comm. Pool, Outdoor-Comm. Tennis, Park, Playground, Common Area
  • Association Fee: Yes
  • Estimated Annual Fee: 3087
  • Hoa Contact: Seaside Management
  • HOA Contact: 252-261-1200
  • Home Owner Dwelling Insurance: 3081

Lot Info

  • Estimated Lot Sq Ft: 18086
  • Lot Description: Cul-de-sac, Level
  • Lot Faces: E
  • Lot Number: Lot 15
  • Estimated Lot Size: 0.42
  • Deed Book: 1684

Rental Info

  • Flood Expenses: 1141
  • Lease Terms: Weekly
  • Rental Co: Twiddy and Company
  • Rental Cottage Name: The Summerhouse
  • Rental Cottage Number: E015
  • Rental Contact Email: owner@twiddy.com
  • Rental Contact Name: Mary Mason
  • Rental Contact Phone: 252-457-0489

Building Info

  • Year Built: 1995

Tax Info

  • Year: 2022
  • Taxes: 5544.03

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 8, 2023
Closed on
May 16, 2023
Sold by
Matyas Philip George and Matyas Joan B
Bought by
Pitcavage Real Estate Holdings Llc
Seller's Agent
Mark Massey
Outer Banks Realty Group
Buyer's Agent
Beth Urch
Beach Realty & Construction
List Price
$1,825,000
Sold Price
$1,775,000
Premium/Discount to List
-$50,000
-2.74%
Views
57
Current Estimated Value
$1,691,159

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$83,841
Avg. Annual Appreciation
-1.88%
Original Mortgage
$915,800
Outstanding Balance
$888,566
Interest Rate
6.43%
Mortgage Type
New Conventional
Estimated Equity
$802,593

Purchase Details

Closed on
Oct 6, 2008
Sold by
Dreo Gerhard and Dreo Diana
Bought by
Dreo Gerhard and Dreo Diana D
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Pitcavage Real Estate Holdings Llc $10,650,000 None Listed On Document
Dreo Gerhard -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Pitcavage Real Estate Holdings Llc $915,800
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/12/2023 06/12/23 Sold $1,775,000 -2.7% $488 / Sq Ft
04/21/2023 04/21/23 Pending -- -- --
04/08/2023 04/08/23 For Sale $1,825,000 -- $502 / 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
2025 $7,507 $983,600 $530,000 $453,600
2024 $7,507 $983,600 $530,000 $453,600
2023 $7,478 $983,600 $530,000 $453,600
2022 $5,544 $983,600 $530,000 $453,600
2021 $5,496 $930,300 $500,000 $430,300
2020 $5,321 $930,300 $500,000 $430,300
2019 $5,261 $930,300 $500,000 $430,300
2018 $5,261 $930,300 $500,000 $430,300
2017 $4,770 $930,300 $500,000 $430,300
2016 $4,776 $930,300 $500,000 $430,300
2015 $4,783 $930,300 $500,000 $430,300
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Outer Banks Association of REALTORS®

MLS Number: 121920

Outer Banks Association of REALTORS®

APN: 127C-000-0015-0000