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Listing Details For 502 Magnolia Way in Corolla

Asking Price:
$889,000
502 Magnolia Way, Corolla, NC 27927
4 bd
3 ba
0 sq ft
MLS #: 131429
Status: Active

Listing Information

Area: Corolla Westside
Mls Status: Active
Days On Market: 1
Cumulative Days On Market: 109
Listing Price: $889,000
Original Listing Price: $889,000
Possession: Close Of Escrow
Short Sale: No
Price Date: 1/7/2026
Furnishing Available: Yes
Bill Of Sale Amount: Yes
Ownership: Owned More than 12 Months
Listing Type: Exclusive Right To Sell

Building Details

Primary Heated Living Area Sq Ft: 2894
Total Living Area Sq Ft: 2894
Asking Price Per SqFt: $307.00
BedroomsTotal: 4
Bathrooms Full: 3
Bathrooms Partial: 1
Year Built: 1997
Garage: 1 Car,Attached
Garage Sq Ft: 354
Architectural Style: Coastal, Cottage
Sub Type: Single Family Residence
Appliances: Dishwasher, Dryer, Microwave, Range/Oven, Refrigerator w/Ice Maker, Washer
Roof: Asphalt
Parking: Off Street, Paved
Foundation: Short Pilings
Pool: Yes
Pool Type: Association
Pool Features: Outdoor Pool, In Ground, Association
Counter Tops: Granite
Cooling: Heat Pump
Interior Features: Cathedral Ceiling(s), Pantry
Heating: Electric, Heat Pump
Room Type: Breakfast Nook, Foyer
Flooring: Carpet, Ceramic Tile
Construction Materials: Frame, Wood Siding

Legal Description

County: Currituck
Subdivision: TCC-Magnolia Bay
Deed Book: 1761
Deed Book Page Number: 28
County Pin Number: 127D00000310000
Price Change: 1/6/2026
Road Surface: Paved, Private
Association Amenities: Clubhouse, Gated, Golf Course, Fitness Center, Ocean Access, Outdoor-Comm. Pool, Outdoor-Comm. Tennis, Playground, Board Walk, Common Area

Lot Details

Land Tax Value: $NaN
Total Assessed Value: $NaN
Lot Features: Cul-De-Sac, Waterfront
Waterfront: Soundfront
View: Sound
Property Type: Residential

Property Expenses & Utilities

Tax Year: 2025
Annual Property Taxes: $3,928.00
Insurance Expenses: $NaN
Home Owner Insurance Expense: $NaN
Flood Zone: AE,X
Flood Insurance Expense: $1,075.00
Water Source: Municipal
Yearly Water Expense: $NaN
Yearly Expense: Estimated
Contract Status Change Date: 1/7/2026
Estimated Annual Fee Amt: $6,500.00
Sewer: Shared Septic
Association Fee Includes: Electricity, Common Insurance, Maintenance Grounds, Management, Pool, Road Maintenance, Security, Tennis Courts, Walkways
Association Fee Yes or No: Yes

Financials

Bill Of Sale Amoung: 1
Electroni Locks: Leased
Bank/Institution Owned: No
Exterior: Cement Fiber Board
Extras: Ceiling Fan(s),Covered Decks,Garage Door Opener,Hot Tub,Jet Tub,Landscaped,Lawn Sprinklers,Outside Lighting,Patio,Smoke Detector(s),Sun Deck,Dry Entry,Inside Laundry Room
Fuel Tanks: Leased
HOA Contact Name: John Small- MBPOA Pres
Primary Residence: No
HOA Contact Info: johnsmallmb66@gmail.com

Rental Income

Estimated Annual Rental Income: $86,000.00
Rental Performance: 0.0967
Gross Income YTD Amt: $NaN
Owner Rental Income 2026 Amount: $NaN
Avertised Income 2026 Amount: $NaN
Owner Rental Income 2025 Amount: $NaN
Avertised Income 2025 Amount: $37,381.00
Owner Rental Income 2024 Amount: $NaN
Avertised Income 2024 Amount: $22,601.00
Owner Rental Income 2023 Amount: $NaN
Avertised Income 2023 Amount: $NaN
Owner Rental Income 2022 Amount: $NaN
Avertised Income 2021 Amount: $NaN
Owner Rental Income 2021 Amount: $NaN
Avertised Income 2021 Amount: $NaN

Listing Agent Remarks

Set on the soundfront in The Currituck Club’s Magnolia Bay community, this 4-bedroom (two en suite), 3.5-bath home offers approximately 2,895 square feet of living space with sweeping sound views and unforgettable sunsets. The floor plan is more open than most Magnolia Bay homes, allowing light and water views to carry naturally through the main living areas, kitchen, and dining spaces. Cathedral ceilings, generous room sizes, and multiple dining areas create a home that lives comfortably while staying closely connected to the soundfront setting. The property has been rented only sparingly and is presented in pristine, turn-key condition. Recent improvements include a newer roof, HVAC systems, hot tub, and water heater. The ground level makes a strong first impression, with a large entryway and open sightlines that immediately draw the eye to the sound beyond. Heated ceramic tile flooring runs throughout this level, a rare and valuable feature that enhances year-round comfort and usability. The main level serves as the heart of the home, where openness and views take center stage. A spacious living area with cathedral ceilings and a gas fireplace is framed by expansive windows that capture broad sound views and vibrant sunsets. Deck access extends the living space outdoors and reinforces the home’s connection to its waterfront setting. The kitchen is both functional and inviting, featuring stainless-steel appliances, granite countertops, and ample cabinetry, all complemented by sound views. The breakfast nook and bar seating offer a relaxed, casual dining space overlooking the water, while the dedicated dining room provides a more formal setting for gatherings. Also on this level is a generously sized primary en suite with beautiful sound views. A custom-tiled gas fireplace adds warmth and architectural interest to the bedroom, while the private bath- finished with custom tile, a separate shower, and a jetted tub- along with a walk-in closet, completes a true retreat. A laundry/pantry room and conveniently located half bath complete this floor without interrupting the home’s open flow. The upper level offers three additional spacious bedrooms, including a second en suite with sound views and a distinctive double-sided fireplace shared between the bedroom and the private bath. Two additional guest rooms share a full hall bath, creating a comfortable and practical arrangement for family and guests. Outdoor living is a defining feature of the home. The soundfront sun deck offers panoramic water views, dramatic sunsets, and expansive night skies ideal for stargazing. A private hot tub invites evening relaxation, while the adjacent patio provides additional space for dining, gathering, or enjoying time outdoors. Summer days and evenings are especially well suited to this setting, whether entertaining, unwinding, or simply taking in the quiet beauty of the sound. The home’s location within The Currituck Club further enhances its appeal. Positioned near the southern gate, it offers convenient access in and out of the community and is just moments from the Magnolia Bay pool and trolley stop. Owners and guests enjoy access to golf, pools, tennis, fitness facilities, beach access, and seasonal trolley service, all while remaining close to the shops, dining, and attractions of Corolla. With its soundfront setting, open and well-designed floor plan, strong water views throughout the home, and exceptional condition, this property checks every box buyers seek in a primary residence or second home. While it has been rented only sparingly, opening the calendar could unlock meaningful vacation income potential. Combined with its location, views, features, and access to The Currituck Club’s amenities, this home offers long-term value and versatility in one of Corolla’s most desirable communities.

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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 502 Magnolia Way in Corolla is provided courtesy of Keller Williams - Outer Banks Team: 252-207-6588. 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 502 Magnolia Way in Corolla is no longer available for sale.

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