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    1079 Tulls Creek Rd Moyock, NC 27958

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    For Sale
    $999,000

    Private 10-acre farm with new barn and upgraded home.

    Property size:
    3,395 SF
    Lot size:
    10.01 Acres

    Property Features for 1079 Tulls Creek Rd

    General Information

    Standard status
    Active
    Size
    3,395 SF
    Lot size
    10.01 Acres
    Exterior features
    Composition Shingle, Wood, Electric, Porch, Screened-in, SFM, Attached Parking. Outbuildings. Horse Facilities. Fenced Yard., 2 Parking Spaces. Gravel., Vinyl, Pasture, -, Barn. Farm, Gravel Road, Pasture.
    Interior features
    Central Air, Electric, A/C - Zone, No Basement, 3, Tile, Carpet, Wood, Dishwasher, Microwave, Electric Oven, Exhaust Fan/Hood, Electric Range/Cooktop, Refrigerator

    Building Details

    Year built
    2005

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    Listing Contact
    Lauren Lambert
    Source: Xome

    Listing Agency: Kingdom Real Estate Services Inc. Listing Agent: Lauren Lambert

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Equine Dream Property in Moyock

    Located in Moyock, North Carolina, this equine property features 10 private acres. The land includes a quarter-mile driveway leading to the property, with the front 5 acres currently used as a hay field with pasture potential. A new 42 ft wide x 50 ft long metal barn features freshly graded sand footing, an 18-foot center aisle, and eight 12x12 steel stall frame-outs. The open layout allows for flexible design options, such as building out 4 stalls and a workshop or a full 8-stall setup. There is also a large fenced riding area and a side paddock. The 3,395 sq ft home includes 3 bedrooms, an office, a second living room over the garage with a bathroom, and a bonus room. Upgrades include a new air handler, a new tankless water heater, a new whole-house water filtration and softener, a new triple-stage kitchen water filtration system, fresh paint, and new flooring. The septic system was pumped in 2024. A Carrier Mini Split system was installed in 2024 to heat and cool the garage/gym. The property is located 15 minutes from Chesapeake, VA, 30 minutes from Elizabeth City, and 40 minutes from the Outer Banks.
    Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Suggested Use

    HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Moyock
    County
    Currituck
    State
    North Carolina
    Longitude
    -76.1113957
    Latitude
    36.5110295

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    FAQs

    What type of property is this?
    Horse & equestrian property - Private 10-acre farm with new barn and upgraded home.
    Where is this horse & equestrian property located?
    The property is located at 1079 Tulls Creek Rd Moyock, NC.
    What is the asking price?
    The asking price for this property is $999,000.
    What are key features of this property?
    This property features: - 10 private acres ideal for equine use, featuring a new metal barn with 18-foot center aisle and eight 12x12 steel stall frame-outs, a fenced riding area, and a side paddock.; - Completely private location surrounded by trees with no visible neighbors, offering quiet country living.; - Meticulously maintained and upgraded home with 3 bedrooms, an office, a second living room over the garage with a bathroom, and a bonus room.
    (252) 619-7678
    Request Owner's contact information
    1079 Tulls Creek Rd Moyock, NC 27958
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    Moyock, NC 27958
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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
    1079 Tulls Creek Rd Moyock, NC 27958
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    Listing Contact
    Lauren Lambert
    Real Estate License ID: 305954
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