26397 Colony Drive, Salvo, NC 27972

$1,065,000
4
BD
2
BA
1,680
SqFt
Sold Price
$1,065,000
List Price
$1,090,000
Closing Date
Jun 06, 2023
MLS#
121693
Status
SOLD
Type
Single Family Residential
Property Type
Single Family - Detached
Bedrooms
4
Bathrooms
2
Full-baths
2
Living Area
1,680
Neighborhood
Hatteras Colony

Property Description

With $121K owner gross YTD for 2023, you'd be hard pressed to find another 4 bedroom home that produces like this. That's backed up with $116K in 2022 so consistent as well. Never satisfied Beach Gem has undergone further updates this past off season with a new bathroom, updated kitchen, paint, stairs and more all done with rental income in mind. This money maker or better said Beach GEM is an incredible chance for the right buyer to jump into the exploding Hatteras Island rental market. As the northern beaches become more and more crowded, many of the original visitors to the Outer Banks seek the pace and lifestyle that made our island the famous destination it became. Insert Hatteras Island, hidden from the 4 lane bypasses and still operating under the relaxing island lifestyle. Salvo sits on the northern tip of HI, with Beach Gem having 100+ yards of well established dune in front maintained by park service providing excellent protection from the storms that batter other oceanfront properties. In addition, the recently finished Jug Handle Bridge provides Hatteras residents a route around the famously fragile S-Turns in Rodanthe aiming to improve access to the island. Oceanfront with private pool, in a protected and blossoming area of our beach, with rental income both past and present justifying the reasonable price. Schedule your showing now, before it's packed with renters for the Summer. One final note, Beach Gem has turned to private management for 2023, giving buyers the flexibility to chose who they want for a property manager. An underappreciated perk to educated buyers. Closed for updates January-March, Beach Gem currently has $121K on the books through AirBnB with $135K projected.

Additional Information

Air Conditioning
Central
Appliances
Dishwasher, Dryer, Microwave, Range/Oven, Refrigerator, Washer
Construction
Frame, Wood
Countertops
Laminate
Siding
Shakes
Extras
Beach Access, Ceiling Fan(s), Covered Decks, Hot Tub, Outside Lighting, Outside Shower, Smoke Detector(s), Tiki Bar, Inside Laundry Room
Floor Coverings
Carpet, Ceramic Tile
Foundation
Piling
Garage
None
Heating
Electric
Interior Features
Dryer Connection, Some Windows Treated, Washer Connection
Lot Description
Water Frontage
Optional Rooms
Breakfast Nook, Game Room
Parking
Off Street, Unpaved
Pool
Yes
Possession
At Closing
Roads
Paved, Public
Roof
Asphalt/Fiber Shingle
Sewer
Private Septic
View
Ocean
Well
Municipal
Zip
27972
Neighborhood
Hatteras Colony
Year Built
1973
Directions
Turn onto Monitor Lane in Salvo and go 0.19miles. Turn LEFT onto Colony Dr and Beach Gem is on RIGHT
County
Dare
Rental Co
Vrbo
Rental Cottage Name
Beach Gem
Furnishings Available
Yes
Bill of Sale Amt
1
Yr Electric Expense
5736
Yr Water Expense
908
Yr Cable TV Expense
1107
Insurance Expenses
$2,998
Pool/Spa Expense
4187

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Landmark Sotheby's International Realty. Selling Office: Landmark Sotheby's International Realty.

Listed by Ian Lassiter

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The data relating to real estate for sale on this web site comes from the Broker Reciprocity Program of the Outer Banks Association of REALTORS®. Real estate listings include the name of the brokerage firms and listing agents. Information is believed to be accurate but is not warranted. Copyrighted by Outer Banks Association of REALTORS®. All rights reserved.

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