1131 Gray Court, Corolla, NC 27927
Local realty services provided by:CENTURY 21 Nachman Realty
Listed by: brook sparks
Office: coldwell banker seaside realty kh
MLS#:132207
Source:NC_OBAR
Price summary
- Price:$949,999
- Price per sq. ft.:$353.69
About this home
Located in the highly sought-after Corolla Light community—renowned for its modern amenities and prime location—this beautifully updated home blends lifestyle and exceptional income potential. Just a five-minute walk to the beach—no need to cross a busy highway or take the trolley—you’ll enjoy effortless access to the sand and surf, while also being a short stroll to shops, dining, and the iconic Currituck Beach Lighthouse, visible from the decks, living room, and primary bedroom. This property is located in an X flood zone and does not require flood insurance. The ability to walk to a different restaurant each night, including some of the freshest seafood and finest dining on the Outer Banks, makes this property even more marketable for rentals. Generating nearly $60,000 in rental income for 2025, plus additional revenue from pool heat fees, this home is a proven performer. The current owners reserve several high-demand weeks for personal use—meaning a buyer could unlock even higher annual income by opening the full calendar. With consistent bookings, excellent guest reviews, and true turnkey condition, this is an outstanding opportunity for buyers focused on ROI. Recent upgrades include: Fortified roof (2024), composite pool decking (2023), hot tub (2022), pool heater (2021), new flooring (2025), dual water heaters (2024), and a mid-level workspace addition (2025). The private backyard is a standout feature, complete with pool, expansive composite decking, generous seating, hot tub, and outdoor shower—perfect for hosting gatherings or unwinding after the beach. The lower level is built for entertainment, with a game room, wet bar with second fridge, bunk room, full bath, and laundry. The mid-level offers three well-appointed bedrooms, flexible sleeping arrangements, and a private workspace—plus access to decks and screened porches with partial lighthouse views. Upstairs, the light-filled great room showcases cherry hardwood floors and an open-concept layout ideal for gathering. The kitchen features a large island, modern appliances, and ample seating, while the en suite bedroom provides a private retreat. Whether seeking a high-performing rental, a second home, or both, this property stands out with its proven income, upside potential, and unbeatable location....
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Home facts
- Year built:2004
- Listing ID #:132207
- Added:61 day(s) ago
- Updated:May 01, 2026 at 03:13 PM
Rooms and interior
- Bedrooms:5
- Total bathrooms:6
- Full bathrooms:5
- Kitchen Description:Dishwasher, Disposal, Range/Oven, Refrigerator w/Ice Maker
- Living area:2,686 sq. ft.
Heating and cooling
- Cooling:Central, Heat Pump, Zoned
- Heating:Central, Electric, Heat Pump, Zoned
Structure and exterior
- Roof:Asphalt/Fiber Shingle
- Year built:2004
- Building area:2,686 sq. ft.
- Lot area:0.14 Acres
- Lot Features:Level
- Architectural Style:Reverse Floor Plan
- Construction Materials:Cement Fiber Board, Lap Siding
- Exterior Features:Landscaped, Outside Lighting, Outside Shower
- Foundation Description:Frame, Piling, Slab, Wood
Utilities
- Water:Municipal
- Sewer:Community Septic
Finances and disclosures
- Price:$949,999
- Price per sq. ft.:$353.69
- Tax amount:$4,892
Features and amenities
- Appliances:Range/Oven, Refrigerator w/Ice Maker, Washer
- Laundry features:Washer
- Amenities:Cathedral Ceiling(s), Ceiling Fan(s), Clubhouse, Covered Decks, Gas Connection, Gated Community, Health Club, Hot Tub, Ice Maker Connection, Indoor-Comm. Pool, Jet Tub, Ocean Access, Outdoor-Comm. Pool, Pantry, Screened Porch, Smoke Detector(s), Some Windows Treated, Sun Deck, Washer Connection
- Pool features:Association Pool, In Ground, Private Pool, Private and Association, Vinyl
Parking
- Parking description:Carport, Paved
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