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Listing 12 out of 2,132
$3,495,000 - Single Family Home, 10 beds, 10 baths, 3 baths, 6,973 sq ft,
197 Hicks Bay Lane, Corolla, NC 27927
MLS No. 106869

Listing Description

RARE OPPORTUNITY! $349,000 RENTAL INCOME - 4 YEAR AVERAGE!! 2017 Advertised Income of $387,235 or an 11.08% ROI. A stellar investment property, custom-designed by FLOREZ Design Studios, Sea Pearl exudes quality the moment you step over the threshold of its beautiful mahogany front entry. Stunning views of the Atlantic and Currituck Sound provide the perfect backdrop for the home's exquisite interior. Replete with first-rate finishes and furnishings including gorgeous Santos Mahogany flooring throughout, understated elegance and an upscale coastal theme provides the perfect setting for memorable experiences for guests. The whole-house SONOS system sets the mood both inside and out. In addition to the extraordinary sound system are 13 SMART-TVs throughout the house. Every bedroom offers completely unobstructed views of either the Atlantic Ocean or the Currituck Sound. Expansive IPE decks embrace the home's exterior and a spacious screened porch all beckon you outside to experience this remarkable and unique setting nestled between the Audubon Nature Preserve and the Atlantic Ocean. Level 3 offers a large open floor-plan that includes an oceanfront dining room resplendent with a custom chandelier mirroring treasures of the sea; a well-appointed kitchen complete with 2 refrigerator/freezers, 2 dishwashers, a wine chiller, and a gourmet chef stove; a lovely vaulted breakfast room overlooking the sound and the Preserve. A special feature is the westward loft and intimate deck from which to enjoy marvelous sunsets over the Nature Preserve. Three en suite masters complete this level. Level 2 is anchored by an expansive oceanfront game room with a wet bar, beverage center, surround sound, and fireplace. There are seven en suite masters on this floor. Level 1 is where the fun truly begins. The main event is a 15-seat state of the art home theater complete with a Kaleidescape streaming movie library. Air hockey, ping pong, game table for 6, wet bar with seating for 5, refrigerator, commercial ice-maker provide all you need for game nights with family and friends. Additional features include a second laundry area, a two-car garage, and two massive storage areas. Once outside, beautiful landscaping, a sparkling saltwater pool, and an over-sized hot tub welcome you to the ultimate playground. The poolside deck also includes an exterior half-bath and two outdoor showers. Built by Wickre Construction for its inaugural season in 2015, Sea Pearl has been immaculately maintained and managed as a luxury home in the Twiddy and Company Premier Home program. With $200,888 already on the books for 2020, this property is already well on its way to another banner year. See the associated documents for updated revenues.

Property Features

  • Property Type: Single Family Home
  • Sub Type: Single Family - Detached
  • Listing Status: Active
  • County/Area: Currituck County
  • Zip Code: 27927
  • Year Built: 2014
  • Subdivision/Neighborhood: Pine Island Pud
  • Sq.Ft.: 6,973 sq ft
  • Style: Coastal
  • Bedrooms: 10
  • Full Baths: 10
  • Half Baths: 3
  • Garage: Attached, 2 Car
  • Baths: 13
  • Pool or Spa: See Pool Details
  • View: Ocean,Sound
  • Waterfront: Oceanfront
  • Zoning: Res
  • Area: Corolla Oceanside
  • Advertised Income 2016: 378398
  • Advertised Income 2017: 387235
  • Advertised Income 2018: 320180
  • Air Conditioning: Central
  • Appliances: Dishwasher, Dryer, Ice Machine, Microwave, Range/Oven, Refrigerator W/Ice Maker, Washer, 2nd Dishwasher, 2nd Refrigerator, Wine Cooler
  • Approx. Lot Sqft: 27443
  • Association Amenities: Clubhouse, Health Club, Ocean Access, Outdoor-Comm. Pool, Outdoor-Off Site Tennis
  • Association Fee Includes: Management, Pool, Road Maintenance, Security, Tennis Courts, Walkways
  • Bedroom 1 Level: 3
  • Bedroom 2 Level: 3
  • Bedroom 3 Level: 3
  • Bedroom 4 Level: 2
  • Bedroom 5 Level: 2
  • Bedroom 6 Level: 2
  • Bedroom 7 Level: 2
  • Bedroom 8 Level: 3
  • Builder: Wickre Construction Company
  • Construction: Frame
  • Counter Tops: Granite
  • Dining Room Level: 3
  • Est Annual Rental Income: 349100
  • Estimated Annual Fee: 4000
  • Exterior: Shakes, Wood
  • Extras: Beach Access, Boardwalk To Beach, Ceiling Fan(S), Common Laundry Area, Covered Decks, Elevator, Fenced Yard, Garage Door Opener, Hot Tub, Landscaped, Lawn Sprinklers, Outside Lighting, Outside Shower, Patio, Screened Porch, Security System, Smoke Detector(S), Sun Deck, Inside Laundry Room
  • Foundation: Piling
  • Game Room Level: 1
  • Heating: Central, Forced Air, Geo-Thermal, Hot Water
  • Interior Features: 9' Ceilings, Cathedral Ceiling(S), Dryer Connection, Gas Connection, Gas Fireplace, Master Bath, Pantry, Washer Connection, Wet Bar
  • Kitchen Level: 3
  • Living Room Level: 3
  • Lot Description: Beach Frontage, Cul-De-Sac, Level
  • Optional Rooms: Breakfast Nook, Foyer, Game Room, Loft, Pantry, Utility Room, Home Theater
  • Owner Rental Income 2016: 353234
  • Owner Rental Income 2017: 364235
  • Owner Rental Income 2018: 300701
  • Parking: Paved
  • Pool Details: Yes, See Association Amenities, In Ground,Concrete,Custom,Heated Salt,Private Pool, Private, Yes
  • Pool/Spa Expense: 5000
  • Rental Cottage Name: Sea Pearl
  • Roads: Paved, Private
  • Roof: Asphalt/Fiber Shingle
  • Sale/Rent: For Sale
  • Sewer/Septic: Community Septic
  • Unit/Lot #: Lot 222
  • Water: Municipal
  • Waterfront Location: Oceanfront
  • Yr Cable TV Expense: 3000
  • Yr Electric Expense: 6000
  • Yr Telephone Expense: 300
  • Yr Water Expense: 2000
Courtesy of Twiddy & Company - Corolla, Ray Meiggs

Contact Shore Realty to schedule an appointment or call 800-647-1868

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