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Listing Details

8023 S Old Oregon Inlet Road, Nags Head

$2,499,000
  • Agent Remarks: Sparing no expense, this spectacularly renovated, professionally decorated, turnkey 8-bedroom oceanfront in South Nags Head has over $280k 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. 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) Did we mention 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 $280K already on the books and $295K 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!

Property Details

  • MLS #: 115106
  • Area: S. N.H. East/Old Oregon R
  • Year Built: 1998
  • Listing Date: 2021-07-07
  • Waterfront Location: Oceanfront
  • Subdivision: Bodie Isl Beach
  • Full Subdivision Name: Bodie Island Beach
  • PropertyType: Single Family – Detached

Interior Features

  • Bedrooms: 8
  • Bathrooms: 6
  • Partial Baths: 1
  • Heated Square Footage: 3840
  • Interior Features: 9′ Ceilings,Dryer Connection,Gas Connection,Gas Fireplace,Ice Maker Connection,Master Bath (Ensuite),Pantry,Some Windows Treated,Washer Connection,Wet Bar
  • Countertops: Granite
  • Air Conditioning: Heat Pump
  • Heating: Heat Pump
  • Appliances: 2nd Refrigerator,Dishwasher,Dryer,Ice Machine,Microwave,Range/Oven,Refrigerator w/Ice Maker,Washer
  • Floor Coverings: Tile,Vinyl Tile
  • View Description: Ocean
  • Optional Rooms: Game Room,Pantry
  • Furnishings Available YN: Yes

Exterior Features

  • Extra Features: Beach Access, Boardwalk to Beach, Cabana, Ceiling Fan(s), Covered Decks, Hot Tub, Jet Tub, Outside Lighting, Outside Shower, Smoke Detector(s), Sun Deck, Dry Entry
  • Lot Size Dimensions: 19500
  • Lot Square Footage: 19500
  • Directions: South on NC-12, just past Jennettes Pier at Whalebone Junction. Home on left just past Dolphin Motel.
  • Taxes: 9273
  • Tax Year: 2020
  • Water: Municipal
  • Roads: Paved,Public
  • Parking: Paved,Under,Unpaved
  • Garage: None
  • Pool: Fiberglass,Heated,In Ground,Private Pool
  • Roof: Asphalt/Fiber Shingle
  • Style: Reverse Floor Plan
  • Construction: Frame
  • Exterior: Vinyl
  • Sewer Septic: Private Septic
  • Lot Description: Beach Frontage
  • Foundation: Piling
  • AddressDirection: S
  • County: Dare

Financial Information

  • Price: $2,499,000
  • Listing Office 1 Name: Sun Realty – KDH
  • Listing Agent 1: Ian Lassiter

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Ariel photograph of Nags Head looking south along Highway 12 on the Outer Banks.

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