Home for Sale at 46002 Ocean Drive, Buxton, NC 27920

46002 Ocean Drive
Buxton, NC 27920

« Prev

Property Details

List Price:	$599,000
Beds:	3
Baths:	3
Status:	Active
SqFt:	2058
Agency:	Midgett Realty

Map Details Show Map | Show StreetView

Description/Comments

Lot Size:	6,500 sqft
Property Type:	Residential
Year Built:	--
Notes:	Experience the ultimate in oceanfront living with this exquisite property in Buxton with unparalleled ocean views from every level. Upon entering, you'll find three tastefully decorated bedrooms on the first level. The king en suite bedroom opens to a deck with a relaxing swing, perfect for soaking in the ocean vistas. A queen bedroom and a bedroom with two single beds share a full bathroom. This level provides the comfort and privacy needed for restful nights. Upstairs, the open living, dining, and kitchen area is bathed in natural light from the surrounding windows, framing the stunning ocean views. Step out onto the sundeck to enjoy the sea breeze and watch your loved ones on the beach. This level also includes a half bathroom for added convenience. A few steps up from the living area, the cozy loft provides extra space to unwind, with a queen sleep sofa, and more incredible views of the ocean. This property has seen significant upgrades, including a fortified roof installed in 2023, a new HVAC system in 2019, refreshed decks in 2016, and updated windows, siding, and doors in 2020. These updates ensure the home is well-maintained, energy-efficient, and built to last. Mermaid's Rest isn't just a beautiful home; it's also a proven income generator, producing over $73,000 in rental income in 2023 and already securing $63,000 for 2024. This makes it an excellent investment opportunity, with a history of steady rental income. Beyond the property, Buxton offers a range of local attractions. You can enjoy delicious ice cream, dine at nearby restaurants, visit the historic lighthouse, and have fun at the arcade. With shops and other amenities within walking or biking distance, you'll always find something to do in the area. Don't miss your chance to own a piece of paradise in Buxton. Schedule a visit today and experience Mermaid's Rest for yourself. This oceanfront gem awaits you with breathtaking views, modern upgrades, and consistent rental income.
MlsNumber:	125452

Listing Provided By:	Midgett Realty, original listing
Name:	Midgett Realty
Phone:	(252) 986-6321
Office Name:	Midgett Realty - Rodanthe
Office Phone:	(252) 986-6321
Agent Name:	Trisha Midgett
Disclaimer:	Copyright Â© 2024 Outer Banks Association of Realtors Â®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

Free Foreclosure Listings

USHUD.com is a website that simplifies the process of finding foreclosures and HUD properties. Everyone thinks they are a real estate web surfing pro until they search for foreclosure homes and stumble upon a numerous sites that want to charge a fee to see their listings. With USHUD.com that’s not the case. When searching for HUD properties or a home finding website for foreclosure it is important to know what you are looking for. It is important to use a niche company that specializes in foreclosures like USHUD.com. We have put together 2 tools that have made the real estate search process of our website much easier to navigate. The Homesearch online tool is filled with foreclosure lists and free listings of hud homes for sale. Most of our users start with a broad search with the homesearch online tool to see the most HUD properties and foreclosure lists in your area and narrow their search down with the Homefinder online tool. The homefinder online tool is a custom filter system that we breakdown the area based upon filters such as convention and foreclosure listings. This give you the option to filter out conventional listings and focus on just the foreclosures in the market. We thank you for making us Americas top home finding website for foreclosure and Hud properties. Free listings of hud homes for sale are hard to come by but should always be free and that’s the way things are going to stay on our website.

Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments.

Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.

USHUD.com is a private company not affiliated or associated with or endorsed, authorized, approved, sponsored
or licensed by the US Department of Housing and Urban Development

USHUD.com is an Equal Housing Opportunity

- Pat. 7,813,958 - Pat. 7,958,007 - Pat. 8,046,258 - Pat. 8,073,737 - Pat. 8,190,476 - Pat. 8,195,514
- Pat. 8,306,856 - Pat. 8,412,576 - Pat. 8,510,165 - Pat. 8,825,527 -