2405 Ocean Drive
Emerald Isle, NC 28594

Description

Stunning views from this multifunctional property. Over $75k in rental revenue for 2017 and growing. Five star reviews. Perfect for families or investors. See ''More''. This property is a multi-function residence usable as a whole single family home, or two separate 2 bedroom, 2 bath units. Each side has 2 bedrooms, 2 bathrooms, open concept living room, dining area, and full kitchens. Each side also has floor to ceiling rear windows and glass doors giving the house an awesome view of the ocean. The high dunes protect the house from storm surge. The house sits up very high so you see right over the dunes, straight into the emerald waters of the Atlantic. We have been renting the house through VRBO since January 2017. We lived in the right side of the property until the end of May when we made the whole house available for renting. With 10 months of almost solid bookings on the left side, and 4 months of solid bookings on the right side, we have on the books $75,000 gross rental income for 2017. If we had rented out the right side as well in the spring, we project another $20,000 in rental income. We expect both sides to be fully booked through the end of October, and at minimum the weeks of Thanksgiving and Christmas. Those weeks will increase the rental income by at least $10,000. All together, we project a gross rental income of $105,000 per year. What makes this property so special is the size and multiple listing potential. Large families can rent the entire house as one unit, or smaller groups can rent just one side by locking the interior connecting door. Left side details: Master with new king bed, shelving, TV, and glass-paned exterior door. The master en suite bathroom has a shower and updated vanity top. Guest bedroom has a queen bed, new shelving, and lockable connecting door to the other side. The living room has a new TV, DVD player, new shelving, new area rug, new art, and a new exterior door. The dining area has new chairs for 4 guests. The kitchen has all new kitchenware and zero clutter. Reverse osmosis filter under the sink in the kitchen. Washer and brand new dryer. The right side has been more completely remodeled. All new interior paint, furniture, TVs, vinyl-plank flooring (looks like hardwood but is waterproof, perfect for the beach!), new stainless appliances, a reverse osmosis filter in kitchen, a fully remodeled guest bathroom with shower/tub combo, a remodeled master bathroom with mirrored cabinet, glass tile backsplash, new glass-paned rear exterior doors in living/bedroom, new area rugs, and new art. King bed in the master and two twins in guest bedroom. Washer and dryer. A new roof was installed in 2017 and new exterior

Details

MLS#100073935
StyleHouse
Sub-TypeResale
StatusActive
Year1984
Days On Site273

Features

Bed(s)4
Bath(s) 4 Full
SQ Feet1,998
Story(s)1.0
Acreage0.26
Water FrontYes

Additional Information

Ocean FrontYes
Ocean ViewYes
Water AccessNo
Bonus RoomNo
Boat SlipNo
Master DownNo
Finished Room Over GarageNo
HOANo
FireplaceNo
Great RoomNo
Construction TypeStick Built
FencingNo
PorchYes
SunroomNo
DeckYes

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Area Information

StateNC
CountyCarteret
CityEmerald Isle
Zip Code28594
AreaCarteret
Community NameNot In Subdivision
Elementary SchoolWhite Oak
Middle SchoolBroad Creek
High SchoolCroatan
Listing VS Median (in Not In Subdivision)
Price:
$809,000
low | high
Med:
$125,000
100% of Average
SqFt:
1,998
low | high
Med:
0
100% of Average
$ / SqFt:
$405
low | high
Med:
$0
100% of Average
On Site:
273
low | high
Med:
821
100% of Average
Listing Updated: 04/12/2018