319 W Ocean Acres Drive lot 19 Kill Devil Hills, NC 27948
MULTI_FAMILY - Kill Devil Hills, NC
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
- Rooms
- Laundry Room, Bedroom 1, Bathroom 2, Utility Room, Bedroom 2, Bathroom 3, Bathroom 4, Bedroom 4, Bathroom 1, Bedroom 3
- Parking features
- Off Street
- Interior features
- Dryer Connection, Washer Connection
- Appliances
- Countertop Range, Range/Oven, Refrigerator, 2nd Refrigerator, Stackable Washer/Dryer
- Standard status
- Active
- Size
- 2,155 SF
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 2391
Utilities
- Heating system
- Electric (Heating), Heat Pump (Heating), Central
- Cooling system
- Heat Pump, Central Air
Building Details
- Year built
- 1976
- Flooring type
- Vinyl, Concrete, Carpet
- Building materials
- Wood
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Lynn Bulman License #201230 (252) 339-6517
Listing office Howard Hanna Outer Banks Realty 114 W Oregon Ave., Kitty Hawk, NC (252) 679-3111
Listing date Apr 20, 2026
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.
The property sits on a corner lot. A storage shed is located on-site for practical use.
With a dual-unit setup and screened outdoor space for both units, this duplex offers straightforward residential income appeal while also supporting owner-occupant flexibility.
Key Highlights
- Duplex built in 1976 with 2‑bedroom, 2‑bath layout in each unit
- Screened porch space: expansive screened porch on the upper unit and a smaller screened porch for the lower unit
- Corner lot with off‑street parking and outdoor access from the lower unit
Local 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 |
