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The smoothest real estate transactions are financed by Local OBX Lenders. They offer competitive mortgage rates and can compete with any other lender. They, and more importantly their underwriters, understand the complexity of buying an income producing vacation rental house being sold fully furnished, as compared to the typical residential home purchase. This saves you last minute complications and costs!

Listing Details For 547 Magnolia Court in Corolla


MLS #: 80667
547 Magnolia Court
Corolla, NC 27927
Asking Price: $299,000
Status: Active
Status Date: 11/21/2014



Listing Information

AreaCorolla Westside
Beds3
Full Baths3
Partial Baths0
Asking Price$299,000
Price Date10/28/2014
Original Asking Price$369,000
Price Per Square Foot$172
Days On Market428
Cumulative Days On Market428
Listing Date9/20/2013
Listing TypeExclusive Right Sell
Input Date Date9/23/2013
Update Date11/21/2014 6:18:00 PM
Sale Or RentFor Sale
OwnershipO
Primary Residence Y/NN

Building Details

TypeSingle Family - Detached
ClassRESIDENTIAL
StyleTraditional,Coastal,Cottage
Year Built1998
Heated Living Area1740
Air ConditoningHeat Pump
HeatingHeat Pump
AppliancesDishwasher,Dryer,Microwave,Range/Oven,Refrigerator w/Ice Maker,Washer
Garage1 Car
Interior FeaturesCathedral Ceiling(s),Gas Fireplace
CountertopsLaminate
ExtrasCeiling Fan(s),Covered Decks,Hot Tub,Landscaped,Outside Shower,Screened Porch
Floor CoveringsCarpet,Ceramic Tile
AppliancesDishwasher,Dryer,Microwave,Range/Oven,Refrigerator w/Ice Maker,Washer
BuilderMancuso
ConstructionFrame
RoofAsphalt/Fiber Shingle
Pool Y/NYes
Pool TypeFiberglass
ExteriorLap Siding,Cement Fiber Board
FoundationPiling,Slab

Lot Details & Legal Description

Address547 Magnolia Court
SubdivisionTCC-Magnolia Bay
CountyCurrituck
CityCorolla
StateNC
Zip27927-
Deed Page246
Deed Book803
Doc Timestamp9/17/2014 4:41:00 PM
Pin Number127D00000040000
Tax Database ID3
Tax Property ID127D00000040000
Lot Square Feet127
Lot FacesW
Lot DescritionCul-de-sac
Distance To WaterNone
ZoningR
RoadsPaved,Private
Association AmenitiesGated Community,Ocean Access,Outdoor-Comm. Pool,Outdoor-Comm. Tennis

Property Expenses & Utilities

If the seller of this property located at 547 Magnolia Court in Corolla has provided the expenses, you will see them below, as provided by the listing agent. If there are no expenses listed, give Shore Realty of the OBX a call and let us do the research for you. It helps to know! Local 252-441-3416 or 800-647-1868. OBX Local experts here to help you!

Association Fee Y/NYes
Annual Association Fee$5,481
Association Fee IncludesCommon Electric,Common Insurance,Grounds Maintenance,Management,Pool,Road Maintenance,Security,Tennis Courts
Tax Year2013
Property Taxes$1,816
Yearly Expenses Actual/Estimated$1,816
Yearly Cable Expense$2,340
Yearly Electrical Expense$1,716
Yearly Telephone Expense$384
Water SourceMunicipal
Yearly Water Expense$1,320
Other Expenses$400
Other Expenses 2$100
Septic Disposal SystemCommunity Septic
Pool/Spa Expense$3,000

Financial's

Rental Cottage #MB04
Rental Turnover DaySaturday
Finance OptionsCash,Conventional
Furniture Available ?Yes
Bill Of Sale?Yes
Furniture Price/Bill Of Sale Amount$1
PossessionAt Closing
Potential Short Sale Y/NYes
Bank Owned Y/NNo
Associated Document Count7

Rental Income

This section will only apply to homes already in a some type of rental program. If the property located at 547 Magnolia Court is used as a vacation rental home or as a year round rental, you will see the income listed below if provided by the seller's agent. A lack of rental numbers does not necessarily mean the property is not rented out. For more call 800-647-1868 and we can get you the actual rental numbers.

Yearly Income Actual/EstimatedActual
Gross Annual Rental Income$28,975
Current Rental Income Amount$29,050
Current Rental Year2011
Gross Income 2013 $$28,710
Gross Income Year To Date$28,960

Listing Agent Remarks

From the moment you step inside the foyer, you will feel the love and care the owners have put into this beautiful home. Cheerful colors, upgraded decor and bright accents set this Magnolia Bay home apart from others. Secluded yet close to Corolla attractions ... places to go, things to eat! Kick back at the pool or relax in the hot tub. The screened porch is the perfect place to read a good book.

Directions

Turn left after the security gate. Follow Hunt Club into Magnolia Bay. Left onto Magnolia Court.

Official MLS Disclaimer

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. This property located at 547 Magnolia Court in Corolla is provided courtesy of Sarah Spencer of Village Realty - NH. Information is believed to be accurate but is not warranted. Copyrighted by Outer Banks Association of REALTORS. All Rights Reserved. IDX information is provided by Shore Realty of the OBX exclusively for consumers, personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. If this page disappears from this site it means the property at 547 Magnolia Court in Corolla is no longer available for sale. If you are interested in this property or have any questions about buying or selling real estate on the Outer Banks call Shore Realty. Local 252-441-3416 or 800-647-1868.

Schools

The school systems on the Outer Banks are never lacking for money. With most of the property owners living out of town, there is a disproportionate amount of tax money available to the schools, the result is lots of money spent per pupil.

We have 2 county school systems on the OBX, the Currituck County School System for residents of Corolla and the Currituck Mainland AND the Dare County School System for residents of the beach's from Duck south through Nags Head to Hatteras Island, Manteo and the Dare County Mainland.

Looking for more info about this property or another OBX properties? We can answer all your questions. Call DIRECT 800-647-1868 or fill out this form and let us know what you need, so we can start to help. It is easier than you think.




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