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    5213 Ocean Dr Emerald Isle, NC 28594

    Sponsored
    For Sale
    $2,325,000

    MULTI_FAMILY - Emerald Isle, NC

    Property size:
    2,406 SF
    Lot size:
    0.34 Acres
    Days on Market:
    10
    Last Refresh:
    Feb 5 at 7:06 am

    Property Features for 5213 Ocean Dr

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Security features
    Security Lighting
    Window features
    Storm Window(s)
    Zoning
    RMF
    Rooms
    Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 3, Bedroom 6, Bathroom 2, Bedroom 7, Bathroom 4, Bathroom 1, Bathroom 3, Bedroom 8
    Bedrooms
    8
    Bathrooms
    4
    APN
    630419611339000,630419611369000,630419611441000
    Parking features
    Paved or Surfaced, Off Street
    Patio and Porch features
    Porch, Deck
    Interior features
    Master Downstairs, 2nd Kitchen, Ceiling Fan(s), Furnished, Pantry, Blinds/Shades, Eat-in Kitchen
    Exterior features
    Balcony, Storm Doors
    Appliances
    Vented Exhaust Fan, Washer, Refrigerator, Range, Dryer, Dishwasher
    Size
    2,406 SF
    Lot size
    0.34 Acres

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank
    Heating system
    Electric (Heating), Heat Pump (Heating), Forced Air
    Cooling system
    Heat Pump, Central Air
    Water source
    Public
    Water front features
    Beach Access
    Water front
    1

    Building Details

    Year built
    1980
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Lvt/lvp, Carpet
    Building materials
    Wood Siding, Fiber Cement
    Roof type
    Shingle

    We can help!

    Listing Contact
    Marge "Meg" Russell

    Russell Homes and Land (919) 795-5973

    Listing agent Marge "Meg" Russell (919) 795-5973 License #200031

    Listing date Jan 27, 2026

    MLS# 100549892 Listing URL

    Copyright © 2026 HIVE MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Oceanfront Duplex in Emerald Isle

    This furnished duplex is located in Emerald Isle, NC, on a 0.34-acre oceanfront lot. The property features 8 bedrooms and is meticulously maintained. Private beach access is available via a solar-lighted deck that leads to a dune deck. Each side of the duplex has 4 bedrooms and 2 bathrooms, accommodating up to 18 guests with five beds per side. Upgrades from 2022 to 2026 include stainless steel appliances, granite countertops, smooth ceilings, recessed lighting, new sinks and hardware, updated bathrooms with custom tiled showers and epoxy grout, newer drywall, wainscoting, carpeting, and wall lamps in the main floor bedrooms, new fans on the first floor, beadboard wainscoting on the second floor bedrooms, newer high-impact windows with new flashing, new siding on the rear and sides, and a newer roof installed in 2018. The interior and exterior have been painted, and hot water and plumbing have been updated in all three outdoor showers. A newer second-floor deck with ocean views is accessible from all four second-floor bedrooms. The HVAC system was replaced in the winter of 2022-2023, and newer hot water heaters, electric panels, and buried water lines have been upgraded. The property has separate 4-bedroom septic systems for each side, both pumped in Q4 2024. The property has potential for even higher rents with the addition of a pool. The property is suitable for short term rentals.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Summerplace Vacation Rental

    Suggested Use

    Real Estate Agency Hotel & Motel Bed & Breakfast

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Emerald Isle
    County
    Carteret
    State
    North Carolina
    Longitude
    -76.983628
    Latitude
    34.671295

    Nearby Similar for Sale

    • $385,000
      768 SF

      Ocean View Condo For Sale

      Updated 1 bed, 1.5 bath condo with ocean views.
      8801 Reed Dr, Emerald Isle, NC 28594
      View Details
    • Contact for pricing

      Emerald Isle Commercial Space Available

      Commercial office/retail/studio space in prime Emerald Isle location.
      8752 Reed Dr, Emerald Isle, NC 28594
      View Details

    FAQs

    What type of property is this?
    Duplex - Furnished, updated duplex with ocean views and rental income potential.
    Where is this duplex located?
    The property is located at 5213 Ocean Dr Emerald Isle, NC.
    What is the asking price?
    The asking price for this property is $2,325,000.
    What are key features of this property?
    This property features: - Oceanfront duplex with separate deeds, offering rental income potential and personal use; - Proven rental income history: Earned $128K in '22, $135K in '23, and $135K in '24; - Turnkey and furnished with recent upgrades (2022-2026) including stainless steel appliances, granite countertops, updated bathrooms, and newer HVAC
    (919) 795-5973
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    5213 Ocean Dr Emerald Isle, NC 28594
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5213 Ocean Dr Emerald Isle, NC 28594
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    We can help!
    Listing Contact
    Marge "Meg" Russell
    Real Estate License ID: 200031
    (919) 795-5973
    Learn more
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