Corner Lot Duplex with Screened
For Sale
$549,000
319 W Ocean Acres Drive lot 19, Kill Devil Hills, NC 27948
MULTI_FAMILY - Kill Devil Hills, NC
Property Size2,155 SF
Price / SF$254.76
Days on Market104
Property Features for 319 W Ocean Acres Drive lot 19
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RL
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 2, Bathroom 4, Bathroom 3, Bedroom 1, Laundry Room, Bathroom 2, Bedroom 3, Utility Room, Bathroom 1
Parking features
Off Street
Interior features
Dryer Connection, Washer Connection
Appliances
Countertop Range, Range/Oven, Refrigerator, 2nd Refrigerator, Stackable Washer/Dryer
Subdivision
Ocean Acres Tract 3
Lot features
Corner, Level
Directions
Headed South from Kitty Hawk on HWY 158/Croatan Hwy, turn R on Ocean Acres Drive. House on left.
Standard status
Active
Size
2,155 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2391
Utilities
Heating system
Central, Heat Pump (Heating), Electric (Heating)
Cooling system
Central Air, Heat Pump
Building Details
Year built
1976
Flooring type
Carpet, Concrete, Vinyl
Building materials
Wood
Roof type
Shingle
Architectural style
Other
Listing Agency:
Howard Hanna Outer Banks Realty
(252) 679-3111
Listed By:
Lynn Bulman · License #201230
(252) 339-6517
Added: Apr 20
Changed: Jul 20
Last Checked: Aug 1 at 10:06AM
MLS# 132588
Copyright © 2026 Outer Banks Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex offers two separate 2-bedroom, 2-bath units, each with its own screened porch for outdoor living. The upper unit features an airy interior layout and an expansive screened porch, while the lower unit includes a smaller screened porch with direct access to outdoor space.
Set on a corner lot, the property includes a storage shed and provides room for additional parking potential. The home is connected to town sewer, and all windows were replaced in 2023.
The property currently generates $49K in steady annual income, with a projection of $54K.
Set on a corner lot, the property includes a storage shed and provides room for additional parking potential. The home is connected to town sewer, and all windows were replaced in 2023.
The property currently generates $49K in steady annual income, with a projection of $54K.
Key Highlights
- Duplex built in 1976 with two 2‑bedroom, 2‑bath units and separate living layouts
- No septic worries—connected to town sewer
- All windows replaced in 2023 for improved energy efficiency and storm resilience
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.8k | $22.20 |
| − Vacancy | −$2.4k | −$1.11 |
| EGI | $45.4k | $21.09 |
| − OpEx | −$13.6k | −$6.33 |
| NOI | $31.8k | $14.76 |
2,155 SF · lease $22.20/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$454.5K
$397.7K – $530.2K
NOI $31,814 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$421.1K
$368.4K – $491.3K
NOI $29,475 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$520.2K
$455.1K – $606.9K
NOI $36,411 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Explore this area
Business Placement
Demographics for 27948, NC
12,095
Population
10,143
Households
1.2
Avg Household Size
46
Median Age
43%
College-Educated
96%
High-School Grad
9.3 sq mi
ZIP Area
1,301
Density / Sq Mi
$85,319
Median Household Income
$41,433
Median Earnings
$1,539
Median Rent
$398,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex on a corner lot with two 2-bedroom, 2-bath units, each featuring screened porches.
Where is this duplex located?
The property is located at 319 W Ocean Acres Drive lot 19 Kill Devil Hills, NC.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Duplex built in 1976 with two 2‑bedroom, 2‑bath units and separate living layouts; No septic worries—connected to town sewer; All windows replaced in 2023 for improved energy efficiency and storm resilience
