See Home Value
Salvo 27972
26397 Colony Drive #LOT11
$1,050,024*
House - Off Market

26397 Colony Drive #LOT11

Salvo, NC 27972
bedrooms
4 Beds
bathrooms
2 Baths
square feet
1680 Sqft
$896,000 - $1,094,000
Reference Base Price*
5.53%
Since Dec 1, 2022
National-US
Primary Model
Sold Jun 06, 2023
$6,390,000
$600,000 by Equity Prime Mortgage Llc
Mortgage Due Jul 01, 2053
Sold Jul 15, 2021
$652,000
$548,250 by Movement Mortgage
Mortgage Due Aug 01, 2051

About This Property

Over $113K in rents in 2022, not counting almost $10K in owner weeks taken during desirable periods and Thanksgiving and Christmas which, are yet to, but probably to book for another $5K. $125K possible? Hard to find another 4 bedroom home that produces like this.  Renovated last year, with rental income in mind, this money maker or better said Beach GEM is a fantastic investment for 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 we used to offer.  Insert Hatteras Island, hidden from the 4 lane bypasses and still operating under the relaxing island lifestyle.  Any concerns about beach erosion, Salvo sits on the northern tip of HI, with Beach Gem having 100+ yards of well established dune in front providing excellent protection from the storms that batter other oceanfront properties.  In addition, the soon to be open Jug Handle Bridge provides Hatteras residents a route around the famously fragile S-Turns in Rodanthe reducing the likelihood of island being cut off.  Big income, in a blossoming region of our beaches.  If investing is your game, Beach GEM is the name.

The manager has listed the unit size as 1680 square feet.
Unit Size
1,680Ft²
Days on Market
-
Land Size
-
Price per sqft
$592
Property Type
House
Property Taxes
$280
HOA Dues
-
Year Built
1973

Price History

Date / Event Date Event Price
Jun 6, 2023 Sold to Amanda Ajluni, Jordan Reid ... $6,390,000
Sold to Amanda Ajluni, Jordan Reid ...
Nov 6, 2022 No longer available -
No longer available
Sep 21, 2022 Price Decreased $995,000
↓ $105K (9.6%)
Price Decreased
Jul 21, 2022 Listed $1,100,000
Listed
Jul 15, 2021 Sold to Michael Bryant Malpezzi $652,000
Sold to Michael Bryant Malpezzi
Show More

Property Highlights

Air Conditioning
Parking Available

Building Info

Overview

    General

  • Year Built: 1973
  • Effective Year Built: 1973
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Exterior Walls Type: Other
  • Roof Shape Type: Gable
  • Floor Count: 2
  • Basement Area: 0
  • Parking Space Count: 0
  • Pool Type: Pool

    Dimensions

  • Lot Size Square Feet: 10,000
  • Total Building Area: 1,680
  • Building Area: 1,680
  • Building Area Measurement: Heated Area

    Heating and Cooling

  • Air Conditioning: Central air conditioning
  • Heating: Forced air unit
  • Heated Square Feet: 1,680
  • Heating Fuel Type: Electricity

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: Residential
  • Subdivision: HATTERAS COLONY AMENDED
  • Land Acres: 0.23
  • Standard Land Use Code: Single family residential
  • Legal Description 1: LOT: 11 BLK: SEC: C PL: 3 SL: 122

Ownership

  • Current Owner : AJLUNI JORDAN REID
  • Current Owner 2: AJLUNI AMANDA
  • Previous Owner : MALPEZZI MICHAEL BRYANT
  • Previous Owner 2: MALPEZZI KELLY
  • Owner Before Previous Owner: JENKINS CHRISTY C
  • Owner Before Previous Owner 2: JENKINS ROBERT H
  • Ownership Rights Codes: Husband and wife

Neighborhood

  • School District Name: Dare County Schools
  • Census Tract: 970502

Geography

  • Assessors Map Reference: MB: 3
  • Account Number: 065709151059
  • District: 18
  • Section: C
  • Parcel: 012976000
  • Lot: 11
  • Municipality: SALVO
  • Latitude: 35.5535
  • Longitude: -75.4653

    Address

  • Full Address: 26397 Colony Dr
  • Legal Unit: 1
  • Address - House Number: 26397
  • Address - Street Name: Colony
  • Address - Suffix Type: Dr
  • State: NC
  • City Name: Salvo
  • Zip Code: 27972

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $3,468

    Appraisal Valuation

  • Standard Deviation: 0.231
  • Valuation Date: Nov 22, 2023
  • Confidence Score: 67
  • Final Value: 6,506,298
  • High Value: 8,009,611
  • Low Value: 5,002,985

    Open Liens

  • Total Open Liens: 1
  • Total Open Liens Amount: $600,000
  • First Open Lien Mortgage Lender: EQUITY PRIME MORTGAGE LLC
  • First Open Lien Mortgage Recording Date: Jun 06, 2023
  • First Open Lien Mortgage Loan Amount: $600,000
  • First Open Lien Mortgage Term: 360
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: New Conventional
  • First Open Lien Mortgage Loan Due Date: Jul 01, 2053

    Market Valuation

  • Market Total Value: $564,928
  • Market Land Value: $325,000
  • Market Improvement Value: $239,928

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $564,928
  • Assessed Land Value: $325,000
  • Assessed Improvements Value: $239,928

    Sales

  • Current Sale Contract Date: Jun 05, 2023
  • Current Sale Recording Date: Jun 06, 2023
  • Current Sale Transaction ID: 11907618363
  • Current Sale Price: $6,390,000
  • Current Sale Document Type: Warranty Deed
  • Current Sale Input Document Number: 700130079
  • Previous Sale Recording Date: Jul 15, 2021
  • Previous Sale Contract Date: Jul 13, 2021
  • Previous Sale Amount: $652,000
  • Previous Sale Document Type: Warranty Deed

    Last Sale Mortgage

  • First Mortgage Lender: EQUITY PRIME MORTGAGE LLC
  • First Mortgage Transaction Date: Jun 06, 2023
  • First Mortgage Loan Amount: $600,000
  • First Mortgage Terms: 360
  • First Mortgage Loan Type: New Conventional
  • First Mortgage Loan Due Date: Jul 01, 2053

    Previous Mortgages

  • Previous Mortgage Lender: MOVEMENT MORTGAGE
  • Previous Mortgage Transaction Date: Jul 15, 2021
  • Previous Mortgage Loan Amount: $548,250
  • Previous Mortgage Term: 360
  • Previous Mortgage Loan Type: New Conventional
  • Previous Mortgage Loan Due Date: Aug 01, 2051



Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
House
4 Beds
3 Baths
1,880 ft²
$425/ft²
$799,000 Feb 22, 2024
-
$254/mo
House
3 Beds
2 Baths
1,422 ft²
$597/ft²
$849,000 Dec 5, 2023
-
$214/mo
Commercial
Loft
-
-
$899,000 Mar 8, 2024
-
$293/mo

About Salvo


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Nearby Rentals



Frequently Asked Questions

When was property at 26397 Colony Drive built and last sold?
The property at 26397 Colony Drive was built in 1973 and last sold on Jun 5, 2023 for $6,390,000.
How much is this home worth?
The estimated value of the home located at 26397 Colony Drive is $997,928.
What are some comparable homes to 26397 Colony Drive?
There are currently no comparable homes to 26397 Colony Drive.

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