NOT LISTED FOR SALE

5502 E Beach Dr Oak Island, NC 28465

Estimated Value: $1,010,000 - $1,037,029

3 Beds
2 Baths
1,200 Sq Ft
$854/Sq Ft Est. Value

Last Sold March 06, 2023

Last sale price $909,000 $758 Per Sq Ft

Est. 13% increase in value since last sale

Current estimated payment $5,648/month

17 Days on Market

Highlights

  • Ocean View
  • Vaulted Ceiling
  • No HOA
  • Southport Elementary School Rated 9+
  • Furnished
  • Covered Patio or Porch

About This Home

As of March 2023

BEACH LIVING at its FINEST! This gorgeous 2nd row beach house offers 3 nice-sized bedrooms, 2 full bathrooms and your own private elevator! Smell the ocean air, listen to the waves crash and watch the pelicans streamline over top the sea oats bending in the wind from your covered porch with breathtaking views of the Atlantic blue water! Constructed in 2021 by a premier island home builder, this home is totally turnkey with literally nothing left for a Buyer to do except relax and enjoy the ocean views from the living room or while you prepare your next meal in a fully equipped kitchen boasting a suite of brand-new stainless Whirlpool appliances. After all, the benefit of having ocean views while you hang out with family & friends is what it is all about when it comes to true beach living! The kitchen offers a coveted pantry, ample cabinet space, and a gorgeous island countertop to prepare your family favorites while serving as additional seating at mealtime. After a long day of fun in the sun, you can retreat to your private master suite with king size bed, walk-in closet & bath with walk in shower. Two more sizable bedrooms offer comfort with turnkey furnishings including a bedroom with double bunks to accommodate the rest of the family when it's time to retire for the night. Luxury vinyl plank throughout provides comfort for the feet but also easy maintenance. Dine outside on your covered porch or just relax while enjoying the beach traffic go by, grill or hang out underneath with your friends while listening to music, or take a stroll on the beach with direct access just across the street because this home and location provide it all! Everything is new as of 2021, so save your money on maintenance and upkeep for now & no HOA dues to boot! A top performing vacation rental in its very first year while offering the same luxuries as a true second home or even primary residence for those who are looking to make it their future island residence. Located just...

Last Agent to Sell the Property

Brendan Gordon

Coastal Development & Realty Oak Island License #264772 Listed on: 01/07/2023

Last Buyer's Agent

Patricia Earp

Coastal Development & Realty Oak Island License #136954

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $2,702

Year Built

  • Built in 2021

Lot Details

  • 4,704 Sq Ft Lot
  • Lot Dimensions are 50 x 94 x 50 x 92
  • Property is zoned R7

Home Design

  • Wood Frame Construction
  • Shingle Roof
  • Vinyl Siding
  • Piling Construction
  • Stick Built Home

Interior Spaces

  • 1,200 Sq Ft Home
  • 1-Story Property
  • Furnished
  • Vaulted Ceiling
  • Ceiling Fan
  • Combination Dining and Living Room
  • Luxury Vinyl Plank Tile Flooring
  • Ocean Views
  • Attic Access Panel
  • Fire and Smoke Detector

Kitchen

  • Electric Cooktop
  • Stove
  • Built-In Microwave
  • Dishwasher
  • Kitchen Island

Bedrooms and Bathrooms

  • 3 Bedrooms
  • Walk-In Closet
  • 2 Full Bathrooms
  • Walk-in Shower

Laundry

  • Laundry closet
  • Dryer
  • Washer

Parking

  • 4 Parking Spaces
  • Covered Parking
  • Lighted Parking
  • Driveway
  • Paved Parking
  • Off-Street Parking

Accessible Home Design

  • Accessible Elevator Installed

Outdoor Features

  • Outdoor Shower
  • Covered Patio or Porch

Schools

  • Southport Elementary School
  • South Brunswick Middle School
  • South Brunswick High School

Utilities

  • Heat Pump System
  • Electric Water Heater

Community Details

  • No Home Owners Association
  • Long Beach Subdivision

Listing and Financial Details

  • Assessor Parcel Number 250ae019

Home Details

Home Type

Single Family

Est. Annual Taxes

$2,702

Year Built

Built in 2021

Lot Details

0

Listing Details

  • Property Type: Residential
  • Sub Type: Single Family Residence
  • Cobra Zone: No
  • Construction: Wood Frame
  • Construction Type: Stick Built
  • Handicap Accessible: Elevator
  • New Construction: No
  • Stories: 1.0
  • Stories Levels: One
  • Year Built: 2021
  • Horses Y N: No
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Attic: Access Only
  • Basement: None
  • Dining Room Type: Combination
  • Fireplace: None
  • Flooring: LVT/LVP
  • Heated Sq Ft: 1200 - 1399
  • Interior Amenities: 1st Floor Master, Ceiling - Vaulted, Ceiling Fan(s), Elevator, Furnished, Kitchen Island, Pantry, Smoke Detectors, Walk-in Shower, Walk-In Closet
  • Laundry Location: Closet
  • List Price per Sq Ft: 765.83
  • Master Bedroom Level: Primary Living Area
  • Full Bathrooms: 2
  • Total Bathrooms: 2.00
  • Bedrooms: 3
  • Sq Ft Heated: 1200.00
  • Total Heated Primary Separate Sq Ft: 1200.00

Exterior Features

  • Exterior Features: Outdoor Shower
  • Exterior Finish: Vinyl Siding
  • Exterior Structures: Shower
  • Fencing: None
  • Foundation: Pilings
  • Porch Balcony Deck: Covered, Porch
  • Road Type Frontage: Paved, Public (City/Cty/St)
  • Roof: Shingle
  • Waterfront: No
  • Waterview: Yes

Garage/Parking

  • Garage And Parking Driveway Spaces: 4.00
  • Parking Driveway: Concrete, Covered, Lighted, Off Street, Paved

Utilities

  • Appliances Equipment: Cooktop - Electric, Dishwasher, Dryer, Microwave - Built-In, Refrigerator, Stove/Oven - Electric, Washer
  • Cooling System: Heat Pump
  • Federal Flood Ins Avlbl: Yes
  • Fuel Tank: None
  • Heating System: Heat Pump
  • Service Providers Electric Provider: Brunswick Electric
  • Service Providers Sewer Provider: City/Town
  • Service Providers Water Provider: City/Town
  • Utilities: Municipal Sewer, Municipal Water, Sewer Connected, Water Connected
  • Water Heater: Electric
  • HeatingSystemFuelSource: Electric

Association/Amenities

  • HOA: No
  • HOA and Neighborhood Amenities: See Remarks

Lot Info

  • Deed Page: 476.00
  • Lot Acres: 0.11
  • Lot Dimensions: 50 x 94 x 50 x 92
  • Lot Sq Ft: 4704.00
  • Lot Water Features: Second Row
  • Special Assessments: Proposed beach nourishment
  • Zoning: R7
  • Lot View Type: Ocean View, Water View

Tax Info

  • Tax Identifier: 250ae019
  • Tax Year: 2022
  • Total Real Estate Property Taxes: 2701.62

MLS Schools

  • Elementary School: Southport
  • High School: South Brunswick
  • Middle School: South Brunswick

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 7, 2023
Closed on
Feb 23, 2023
Sold by
Schultz Robert E and Schultz Talmsi
Bought by
Rulli Nicholas and Rulli Aimee
Seller's Agent
Brendan Gordon
Coastal Development & Realty Oak Island
Buyer's Agent
Patricia Earp
Coastal Development & Realty Oak Island
List Price
$919,000
Sold Price
$909,000
Premium/Discount to List
-$10,000
-1.09%
Views
35
Current Estimated Value
$1,024,257

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$115,257
Avg. Annual Appreciation
4.61%
Original Mortgage
$727,000
Outstanding Balance
$703,438
Interest Rate
6.15%
Mortgage Type
New Conventional
Estimated Equity
$320,819

Purchase Details

Listed on
Jan 7, 2023
Closed on
Jan 6, 2023
Sold by
Schultz Robert E
Bought by
Schultz Robert E and Hagewood Sharon
Seller's Agent
Brendan Gordon
Coastal Development & Realty Oak Island
Buyer's Agent
Patricia Earp
Coastal Development & Realty Oak Island
List Price
$919,000
Sold Price
$909,000
Premium/Discount to List
-$10,000
-1.09%
Views
35

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$727,000
Outstanding Balance
$703,438
Interest Rate
6.15%
Mortgage Type
New Conventional
Estimated Equity
$320,819

Purchase Details

Closed on
Sep 18, 2020
Sold by
Sandy Ila Mae and Schultz Robert E
Bought by
Schultz Robert E

Purchase Details

Closed on
Mar 14, 2009
Sold by
Sandy Ila
Bought by
Schultz Robert E and Roeder Teena M

Purchase Details

Closed on
Mar 13, 2009
Sold by
Sandy Ila
Bought by
Schultz Robert E and Roeder Teena M
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
Rulli Nicholas $909,000 --
Schultz Robert E -- --
Schultz Robert E -- None Available
Schultz Robert E -- None Available
Schultz Robert E $500 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Rulli Nicholas $727,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/06/2023 03/06/23 Sold $909,000 -1.1% $758 / Sq Ft
01/24/2023 01/24/23 Pending -- -- --
01/07/2023 01/07/23 For Sale $919,000 -- $766 / Sq Ft
Source: Hive MLS

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 $3,447 $849,900 $445,000 $404,900
2024 $3,447 $849,900 $445,000 $404,900
2023 $2,702 $849,900 $445,000 $404,900
2022 $2,702 $480,310 $225,000 $255,310
2021 $0 $288,480 $225,000 $63,480
2020 $1,594 $288,480 $225,000 $63,480
2019 $1,594 $225,000 $225,000 $0
2018 $1,064 $187,930 $136,000 $51,930
2017 $1,063 $136,000 $136,000 $0
2016 $1,050 $136,000 $136,000 $0
2015 $1,037 $187,930 $136,000 $51,930
2014 $926 $179,290 $136,000 $43,290
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Hive MLS

MLS Number: 100364238

Hive MLS

APN: 250AE019