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    5213 Ocean Drive unit E&W Emerald Isle, NC 28594

    View on Map
    For Sale
    $2,225,000

    MULTI_FAMILY - Emerald Isle, NC

    Property size:
    2,406 SF
    Lot size:
    0.34 Acres
    Added:
    Jan 17, 2026
    Days on Market:
    75
    Last Refresh:
    Apr 2 at 3:06 am

    Property Features for 5213 Ocean Drive unit E&W

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RMF
    Bedrooms
    8
    Bathrooms
    4
    Rooms
    Bathroom 4, Bedroom 6, Bathroom 1, Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 8, Bedroom 7, Bedroom 5
    Parking features
    Off Street, Paved or Surfaced
    Security features
    Security Lighting
    Window features
    Storm Window(s)
    Patio and Porch features
    Deck, Porch
    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
    Standard status
    Active
    APN
    630419611339000,630419611369000,630419611441000
    Size
    2,406 SF
    Lot size
    0.34 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxDescription
    Lot5 Block21 Summerplace
    TaxAnnualAmount
    7140

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank
    Heating system
    Forced Air, Heat Pump (Heating), Electric (Heating)
    Cooling system
    Central Air, Heat Pump
    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
    Carpet, Lvt/lvp
    Building materials
    Wood Siding, Fiber Cement, Wood Frame
    Roof type
    Shingle

    We can help!

    Listing Contact
    Marge "Meg" Russell

    Listing agent Marge "Meg" Russell License #200031

    Listing office Russell Homes and Land 216 Waters Edge Drive, Newport, NC

    Listing date Jan 17, 2026

    MLS# 100549892

    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.

    Overview

    Oceanfront Duplex on Crystal Coast

    This is a fully furnished oceanfront duplex located on the Crystal Coast's beaches of Emerald Isle. The property features eight bedrooms and has been newly updated and meticulously maintained as a turnkey rental. It offers generous setback from the ocean and a new wide gravel driveway with solar lighted border. Six of the eight bedrooms offer ocean views. Private beach access is available via a newer solar-lighted deck that terminates in a 16'x16' dune deck. Each side of the duplex has four bedrooms and two bathrooms, with five beds on each side, accommodating up to 18 guests. Upgrades from 2022 to 2026 include stainless steel appliances, granite countertops, smooth ceilings, recessed lighting, new sinks, new hardware, and new main floor baths with custom tiled showers and floors with epoxy grout. The main floor bedrooms feature newer drywall, wainscoting, carpeting, and wall lamps, with new fans on the first floor and new beadboard wainscoting on the second floor bedrooms. Newer high-impact windows have been reset with new flashing, and the rear and sides have newer siding. The roof was replaced in 2018, and the interior and exterior have been painted. Hot water and new plumbing have been installed in all three newer outdoor showers, and there is a newer second-floor deck with ocean views accessible to all four second-floor bedrooms. The HVAC system was replaced in the winter of 2022-2023, and there are newer hot water heaters and electric panels. Buried lines and water lines have been upgraded to facilitate the sale of one side if the buyer chooses. The property sits on a 0.34-acre oceanfront lot with a separate four-bedroom septic permitted on each side, both pumped in Q4 2024. The property is located near the Aquarium in Pine Knoll Shores and the Bogue Island Fishing Pier. The property is currently used as a short term rental. The property size is 2406 square feet.
    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

    • $869,900
      1,340 SF

      Emerald Isle Duplex For Sale

      Second-row duplex in Emerald Isle, North Carolina.
      101 24th Street, 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 #7, Emerald Isle, NC 28594
      View Details

    FAQs

    What type of property is this?
    Duplex - Turnkey, fully furnished rental duplex on Emerald Isle's prized beaches.
    Where is this duplex located?
    The property is located at 5213 Ocean Drive unit E&W Emerald Isle, NC.
    What is the asking price?
    The asking price for this property is $2,225,000.
    What are key features of this property?
    This property features: Oceanfront duplex with strong rental income history: $128K in '22, $135K in '23, $135K in '24, with potential for year‑round rentals and increased income with a pool.; Turnkey and fully furnished 8‑bedroom rental property with recent (2022‑2026) upgrades including stainless steel appliances, granite countertops, updated bathrooms, and newer HVAC, roof (2018), and windows.; Private beach access with a solar‑lighted deck leading to a 16'x16' dune deck with rocking chairs.
    (919) 795-5973
    We can help!
    Listing Contact
    Marge "Meg" Russell
    Real Estate License ID: 200031
    Learn More
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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
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