$1,665,000
SOLD MAY 28, 2021

8229 S Old Oregon Inlet Rd Nags Head, NC 27959

10 Beds
9 Baths
4,430 Sq Ft
0.44 Acres

Recently Sold

$376 Per Sq Ft

1% Below List Price

43 Days on Market

Highlights

  • Beach Front
  • Heated In Ground Pool
  • Second Refrigerator
  • Ocean View
  • 0.44 Acre Lot
  • Traditional Architecture

About This Home

As of December 2023

Turnkey moneymaker with 11% ROI and room for growth!!! As of March 7th, this fantastic investment property has nearly $200K Advertised Gross on the books ready to be turned over to the next lucky owner. Tons of listings proclaim the magical 10:1 ratio that most savvy investors live by when searching for their next income producing asset. With a 9% property management commission locked in and transferring to the new owner/buyer, the home has chance to hit that benchmark based on NET income, a claim very few can boast! In addition, with tons of updates recently completed including a new electric pool heater specifically added to entice even more off-season weeks, expectations are as much as 30 weeks and close to $200K are attainable. Did I mention this was all possible turnkey? With a starting point so strong, for the homeowner willing to take the next step, the earning potential for this cash cow is only limited to what you as the new owner can imagine. The three features recognized as being most important in establishing real estate value are location, location and location. Appropriately named “Serenity,” at approx. 4,400 sq. ft., protected by a firmly established, well vegetated dune line, in the highly desirable, less commercialized area of South Nags Head, with both views of the Ocean and Pea Island National Wildlife refuge, this vacation home reminds of the vacations that made our beaches so famous. Secluded and private with smaller public accesses few and far between. Also, we would be remiss to leave out the Nags Head Beach renourishment project when combined with the aforementioned strong dune line, makes this investment as safe as Oceanfront properties get. Safe from storms, monster income on the books and room for growth, investments do not get any sounder than this! Some of the more outstanding features and updates include: -Renovated and Refurnished “Coastal Modern” Great Room with Electric Fireplace -Renovated Kitchen with Granite Countertops & New Appliances -Brand new carpet, mattresses and electronics (FSTV’s) throughout -Large Game room with pool table and cabana bath -Two new hot water heaters -Two Laundry Stations and 2 Full Sized Refrigerators and Wet bars. -Electric Pool Heater -Dining table and breakfast bar both with ocean views seating as many as 20 guests Rental Property Investment is nothing but, a numbers game. Most purchases require buyers to keep playing that game, striving for numbers to get to the desired ratios. Booked solid, with an incredible rental package in place and ready to be turned over to you, “Serenity” is sure to be a winning investment for you and your family.

Last Agent to Sell the Property

Al Friedman

Sun Realty - KDH License #294685 Listed on: 02/26/2021

Last Buyer's Agent

Ashley Massey

Landmark Sotheby's International Realty License #204018

Landmark Sotheby's International Realty

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $4,981

Year Built

  • Built in 1999

Lot Details

  • 0.44 Acre Lot
  • Beach Front
  • Level Lot
  • Irregular Lot

Parking

  • Off-Street Parking

Home Design

  • Traditional Architecture
  • Reverse Style Home
  • Slab Foundation
  • Frame Construction
  • Asphalt Shingled Roof
  • Vinyl Construction Material

Interior Spaces

  • 4,430 Sq Ft Home
  • Wet Bar
  • Central Vacuum
  • Furnished
  • Cathedral Ceiling
  • Ceiling Fan
  • Window Treatments
  • Entrance Foyer
  • Game Room
  • Utility Room
  • Ocean Views
  • Fire and Smoke Detector

Kitchen

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

Flooring

  • Carpet
  • Ceramic Tile

Bedrooms and Bathrooms

  • 10 Bedrooms
  • En-Suite Primary Bedroom
  • Walk-In Closet
  • Hydromassage or Jetted Bathtub

Laundry

  • Laundry Room
  • Dryer
  • Washer

Pool

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

Outdoor Features

  • Sun Deck
  • Patio
  • Exterior Lighting

Utilities

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

Listing and Financial Details

  • Legal Lot and Block 54 / 3

Community Details

Overview

  • Bodie Isl Beach Subdivision

Recreation

  • Community Boardwalk

Home Details

Home Type

Single Family

Est. Annual Taxes

$4,981

Year Built

Built in 1999

Lot Details

0

Listing Details

  • Class: RESIDENTIAL
  • Style: Reverse Floor Plan, Traditional
  • Directions: Bypass. Left at Whalebone Junction and right onto Old Oregon Inlet Rd. House is 0.6 miles on LEFT.
  • Extras: Beach Access, Boardwalk to Beach, Ceiling Fan(s), Central Vacuum, Hot Tub, Jet Tub, Outside Lighting, Outside Shower, Patio, Smoke Detector(s), Sun Deck, Inside Laundry Room
  • Subdivision Name: Bodie Island Beach
  • Headline: Income Machine!
  • Heated Sq Ft: 4430
  • L V T Date: 02/26/2021
  • Roads: Public
  • Sale/Rent: For Sale
  • Section: 3
  • Waterfront Location: Oceanfront
  • Zoning: RES
  • Advertised Income 2020: 162516
  • Advertised Income 2021: 174400
  • Deed Book Pg Number: 0287
  • Destination Commerce Corp: Yes
  • Lone Wolf Real Estate Technologies: Yes
  • Newpoint Media: Yes
  • Office License Number: C3211
  • 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 w/Ice Maker, Washer, 2nd Dishwasher, 2nd Refrigerator
  • Bedrooms: 10
  • Countertops: Granite
  • Floor Coverings: Carpet, Ceramic Tile, Vinyl Tile
  • Foundation: Slab
  • Full Bathrooms: 7
  • Furnishings Available: Yes
  • Interior Amenities: 9' Ceilings, All Window Treatments, Cathedral Ceiling(s), Ensuite, Pantry, Walk in Closet, Wet Bar
  • Optional Rooms: Foyer, Game Room, Utility Room
  • Partial Bathrooms: 2

Exterior Features

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

Garage/Parking

  • Parking: Off Street

Utilities

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

Lot Info

  • Estimated Lot Sq Ft: 19000
  • Lot Description: Beach Frontage, Irregular Terrain, Level
  • Lot Number: Lot 54
  • Estimated Lot Size: 0.44
  • Deed Book: 2278

Rental Info

  • Rental Co: Sun Realty
  • Rental Cottage Name: Serenity
  • Rental Cottage Number: 526
  • Rental Phone Number: 252-441-7033
  • Rental Turnover Day: Saturday
  • Rental Contact Email: katiegilreath@sunrealtync.com
  • Rental Contact Name: Katie Gilreath-Lisa Nicholson
  • Rental Contact Phone: 252-441-7033

Building Info

  • Year Built: 1999

Tax Info

  • Year: 2020
  • Taxes: 4980.6

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
May 30, 2025
Sold by
Peel Jason and Peel Mary Helen
Bought by
Coastal Blue Dare Ii Llc
Current Estimated Value
$2,518,160

Purchase Details

Listed on
Nov 4, 2023
Closed on
Dec 15, 2023
Sold by
Weinberg Edward J and Weinberg Melissa A
Bought by
Narragon Daniel A and Narragon Melissa T
Seller's Agent
Heather VanderMyde
Coldwell Banker Seaside Realty - KDH
Buyer's Agent
Hunter Davis
Twiddy and Company - Corolla
List Price
$2,595,000
Sold Price
$2,515,000
Premium/Discount to List
-$80,000
-3.08%
Views
22

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
0.07%
Original Mortgage
$1,509,000
Interest Rate
7.29%
Mortgage Type
New Conventional

Purchase Details

Listed on
Feb 26, 2021
Closed on
May 20, 2021
Sold by
Heou Thomas K and Kim Yong Ja
Bought by
Weinberg Edward J and Weinberg Melissa A
Seller's Agent
Al Friedman
Sun Realty - KDH
Buyer's Agent
Ashley Massey
Landmark Sotheby's International Realty
List Price
$1,674,900
Sold Price
$1,665,000
Premium/Discount to List
-$9,900
-0.59%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
17.41%
Original Mortgage
$1,332,000
Interest Rate
3%
Mortgage Type
New Conventional

Purchase Details

Listed on
Nov 9, 2018
Closed on
Jan 4, 2019
Sold by
Renee Fromberh Edward P and Renee Fromberh
Bought by
Heuu Thomas K and Kim Young J
Seller's Agent
Heather VanderMyde
Coldwell Banker Seaside Realty - KDH
Buyer's Agent
Daphne Degabrielle
Outer Banks Realty Group
List Price
$1,199,000
Sold Price
$1,155,000
Premium/Discount to List
-$44,000
-3.67%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
16.54%
Original Mortgage
$924,000
Interest Rate
4.7%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

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Average Value
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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 Type Sale Price Title Company
Warranty Deed $2,800,000 None Listed On Document
Warranty Deed $2,800,000 None Listed On Document
Warranty Deed $2,515,000 None Listed On Document
Warranty Deed $1,665,000 None Listed On Document
Warranty Deed $1,665,000 None Available
Warranty Deed $1,155,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $1,509,000 New Conventional
Previous Owner $1,332,000 New Conventional
Previous Owner $921,000 Stand Alone Refi Refinance Of Original Loan
Previous Owner $924,000 New Conventional
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/22/2023 12/22/23 Sold $2,515,000 -3.1% $557 / Sq Ft
11/22/2023 11/22/23 Pending -- -- --
11/04/2023 11/04/23 For Sale $2,595,000 +55.9% $575 / Sq Ft
05/28/2021 05/28/21 Sold $1,665,000 -0.6% $376 / Sq Ft
04/10/2021 04/10/21 Pending -- -- --
03/29/2021 03/29/21 For Sale $1,674,900 0.0% $378 / Sq Ft
03/22/2021 03/22/21 Pending -- -- --
03/08/2021 03/08/21 Price Changed $1,674,900 -4.3% $378 / Sq Ft
02/26/2021 02/26/21 For Sale $1,750,000 +51.5% $395 / Sq Ft
01/07/2019 01/07/19 Sold $1,155,000 -3.7% $261 / Sq Ft
11/16/2018 11/16/18 Pending -- -- --
11/09/2018 11/09/18 For Sale $1,199,000 -- $271 / 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
2024 $11,441 $1,222,800 $622,300 $600,500
2023 $4,981 $1,243,596 $622,300 $621,296
2022 $4,981 $1,243,596 $622,300 $621,296
2021 $4,981 $1,243,596 $622,300 $621,296
2020 $4,981 $1,243,596 $622,300 $621,296
2019 $4,806 $996,900 $484,900 $512,000
2018 $4,806 $996,900 $484,900 $512,000
2017 $4,806 $996,900 $484,900 $512,000
2016 $4,397 $996,900 $484,900 $512,000
2014 $9,514 $996,900 $484,900 $512,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Outer Banks Association of REALTORS®

MLS Number: 113070

Outer Banks Association of REALTORS®

APN: 006988000