I
Seller's Agent in 2021
Ian Lassiter
Keller Williams - Outer Banks
(252) 722-5860
14 in this area
37 Total Sales
8023 S Old Oregon Inlet Rd Nags Head, NC 27959
Estimated Value: $1,576,000 - $2,347,642
8
Beds
6.5
Baths
3,840
Sq Ft
$525/Sq Ft
Est. Value
Highlights
- Beach Front
- Cabana
- Second Refrigerator
- Ocean View
- 0.45 Acre Lot
- Hydromassage or Jetted Bathtub
About This Home
As of November 2021Sparing no expense, this spectacularly renovated, professionally decorated, turnkey 8-bedroom oceanfront in South Nags Head has over $292k in advertised rents already on the books for 2021 with room for growth!!! Tons of listings proclaim the magical 10:1 ratio that most savvy investors strive for when searching for their next money-making investment. With an attractive property management agreement locked in and transferring to the next lucky buyer, this investors dream has a chance to hit that benchmark using NET income, a claim very few can boast! Getting a late start to the rental season as every part of the renovation was meticulously completed, this rental monster was not available for rent until May 17th, missing out on popular and profitable weeks such as Easter. In addition to the incredible updates seen throughout the photos, one not seen is a new gas pool heather, ensuring a strong fall rental season and even more income. In fact, the expected income on this fabulous home is projected north of $295K for the OWNER GROSS. Did we mention this was all possible turnkey? We all know the three keys to real estate…location, location, location. Appropriately named “OBX Paradise,” this fantastic home is protected by a well-established dune, with 75' ocean frontage in the highly desirable South Nags Head. With both ocean & sound views, within walking distance of the also renovated Jennette’s Pier, one of the hottest wedding venues on the Outer Banks. Also, we’d be remiss to omit mention of the Nags Head Beach renourishment project, ensuring wide and less crowded beaches. Well protected from storms, room for income growth, investments do not get any sounder than this! Some of the more outstanding features and highlights of the renovation include. -Granite Countertops -All new furnishings chosen by a design professional -Luxury Vinyl Tile -New mattresses, bedding & electronics -New HVAC units -Gas Pool Heater -New Windows, Doors, Bathroom Fixtures, Light fixtures, Cabinets, Appliances and Blinds throughout. (See associated docs for full list of updates) No expense was spared in the rebirth of this money maker. Rental property investment is nothing more than a numbers game. Most purchases require buyers to keep playing that game, needing updates and upgrades just for the chance to hit the targeted ROI numbers. With $292K already on the books and nearly $300K projected with full open calendar, with an incredible rental package in place “OBX Paradise” is sure to be winning investment for you and your family!
Last Agent to Sell the Property
Keller Williams - Outer Banks License #273751 Listed on: 07/07/2021
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $9,273
Year Built
- Built in 1998
Lot Details
- 0.45 Acre Lot
- Beach Front
- 75 Feet of Waterfront
Home Design
- Reverse Style Home
- Frame Construction
- Asphalt Shingled Roof
- Piling Construction
- Vinyl Construction Material
Interior Spaces
- 3,840 Sq Ft Home
- Wet Bar
- Furnished
- Ceiling height of 9 feet or more
- Ceiling Fan
- Gas Fireplace
- Window Treatments
- Game Room
- Tile Flooring
- Ocean Views
- Fire and Smoke Detector
Kitchen
- Oven or Range
- Microwave
- Second Refrigerator
- Ice Maker
- Dishwasher
- Granite Countertops
Bedrooms and Bathrooms
- 8 Bedrooms
- En-Suite Primary Bedroom
- Hydromassage or Jetted Bathtub
Laundry
- Dryer
- Washer
Parking
- Tuck Under Parking
- Unpaved Parking
- Paved Parking
Pool
- Cabana
- Heated In Ground Pool
- Fiberglass Pool
- Outdoor Pool
- Spa
- Outdoor Shower
Outdoor Features
- Sun Deck
- Covered Deck
- Exterior Lighting
Utilities
- Heat Pump System
- Municipal Utilities District Water
- Private or Community Septic Tank
Listing and Financial Details
- Legal Lot and Block PT13&14 / 1
Community Details
Overview
- Bodie Isl Beach Subdivision
Recreation
- Community Boardwalk
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Jan 27, 2022
Sold by
Baker Benjamin S and Baker Erika M
Bought by
Avs Ocean Realty Llc
Current Estimated Value
Purchase Details
Listed on
Jul 7, 2021
Closed on
Nov 12, 2021
Sold by
Sv Umamaheswari and Kp Sivakumar
Bought by
Baker Benjamin S and Baker Erika M
Seller's Agent
Ian Lassiter
Keller Williams - Outer Banks
Buyer's Agent
Trisha Midgett
Midgett Realty - Rodanthe
List Price
$2,499,000
Sold Price
$2,100,000
Premium/Discount to List
-$399,000
-15.97%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-1.10%
Original Mortgage
$1,300,000
Interest Rate
3.05%
Mortgage Type
New Conventional
Purchase Details
Listed on
Jul 7, 2021
Closed on
Oct 8, 2021
Sold by
Outerbanks Paradise Llc
Bought by
Sv Umamaheswari
Seller's Agent
Ian Lassiter
Keller Williams - Outer Banks
Buyer's Agent
Trisha Midgett
Midgett Realty - Rodanthe
List Price
$2,499,000
Sold Price
$2,100,000
Premium/Discount to List
-$399,000
-15.97%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,300,000
Interest Rate
3.05%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jun 16, 2021
Sold by
Sv Umamaheswari and Kp Sivakumar
Bought by
Outerbanks Paradise Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$548,000
Interest Rate
2.12%
Mortgage Type
New Conventional
Purchase Details
Listed on
Nov 3, 2020
Closed on
Jan 22, 2021
Sold by
The Bank Of New York Mellon
Bought by
Sv Umamaheswari
Seller's Agent
Richard Hess
Sun Realty - KDH
Buyer's Agent
* **Not a Member
**Not a Member
List Price
$994,900
Sold Price
$945,000
Premium/Discount to List
-$49,900
-5.02%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
18.24%
Original Mortgage
$1,000
Interest Rate
2.6%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jul 2, 2020
Sold by
Harkrader Paul D
Bought by
The Bank Of New York Mellon and Cwalt Inc
Purchase Details
Closed on
May 20, 2019
Sold by
Harkrader Dorothy K
Bought by
Harkrader Paul D
Purchase Details
Closed on
May 28, 2015
Sold by
Sails One Llc
Bought by
Harkrader Paul D and Harkrader Margo
Purchase Details
Closed on
Jun 27, 2014
Sold by
Harkrader Paul D and Harkrader Margo
Bought by
Sails One Llc
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Avs Ocean Realty Llc | -- | Evans & Meads Pllc | |
| Baker Benjamin S | $2,100,000 | None Available | |
| Sv Umamaheswari | -- | Chicago Title Insurance Co | |
| Outerbanks Paradise Llc | -- | Chicago Title Insurance Co | |
| Sv Umamaheswari | $945,000 | None Available | |
| The Bank Of New York Mellon | $1,496,500 | None Available | |
| Harkrader Paul D | -- | -- | |
| Harkrader Paul D | -- | Attorney | |
| Sails One Llc | -- | None Available |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Baker Benjamin S | $1,300,000 | |
| Previous Owner | Sv Umamaheswari | $548,000 | |
| Previous Owner | Sv Umamaheswari | $1,000 | |
| Previous Owner | Harkrader Paul D | $1,387,500 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 11/15/2021 11/15/21 | Sold | $2,100,000 | -16.0% | $547 / Sq Ft |
| 09/19/2021 09/19/21 | Pending | -- | -- | -- |
| 07/07/2021 07/07/21 | For Sale | $2,499,000 | +164.4% | $651 / Sq Ft |
| 02/03/2021 02/03/21 | Sold | $945,000 | -5.0% | $250 / Sq Ft |
| 01/04/2021 01/04/21 | Pending | -- | -- | -- |
| 11/03/2020 11/03/20 | For Sale | $994,900 | -- | $263 / Sq Ft |
Source: Outer Banks Association of REALTORS®
Tax History Compared to Growth
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 |
|---|---|---|---|---|
| 2024 | $10,742 | $1,146,900 | $627,000 | $519,900 |
| 2023 | $4,677 | $1,167,696 | $627,000 | $540,696 |
| 2022 | $4,677 | $1,167,696 | $627,000 | $540,696 |
| 2021 | $9,838 | $1,167,696 | $627,000 | $540,696 |
| 2020 | $4,677 | $1,167,696 | $627,000 | $540,696 |
| 2014 | $8,804 | $920,400 | $454,800 | $465,600 |
Source: Public Records
Agents Affiliated with this Home
-
-
Seller's Agent in 2021
Richard Hess
Sun Realty - KDH
(252) 256-2112
14 in this area
88 Total Sales
-
Buyer's Agent in 2021
Trisha Midgett
Midgett Realty - Rodanthe
(252) 996-0124
51 in this area
1,273 Total Sales
-
*
Buyer's Agent in 2021
* **Not a Member
**Not a Member
-
M
Buyer Co-Listing Agent in 2021
Michael Milteer
Midgett Realty - Rodanthe
(757) 653-4878
20 in this area
192 Total Sales
Map
Source: Outer Banks Association of REALTORS®
MLS Number: 115106
APN: 012217003
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
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