About This Home

This 5-bedroom, 6-bathroom single family at 1131 Gray Court in Corolla, NC is listed for $899,999 ($335 per sqft). Built in 2004, the home offers 2,686 sqft of living space on a 0.14 acres lot.

Key Features

  • Built in 2004
  • 0.14 acre lot
  • Private pool
  • Fireplace

Property Details

5 full, 1 half
2004

Amenities

PoolFireplaceA/C
Listing Description

Just a five-minute walk to the beach. No need to cross a busy highway or take the trolley-you'll enjoy effortless access to the sand and surf, while also being a short stroll to shops, dining, and the iconic Currituck Beach Lighthouse, visible from the decks, living room, and primary bedroom.

This property is located in an X flood zone and does not require flood insurance. The ability to walk to a different restaurant each night, including some of the freshest seafood and finest dining on the Outer Banks, makes this property even more marketable for rentals.

Generating nearly $60,000 in rental income for 2025, plus additional revenue from pool heat fees, this home is a consistent performer. While the current owners use the property for personal use-meaning a buyer could unlock even higher annual income by opening the full calendar.

With consistent bookings, excellent guest reviews, and true turnkey condition, this is an outstanding opportunity for buyers focused on ROI. Recent upgrades include: Fortified roof (2024), composite pool decking (2023), hot tub (2022), pool heater (2021), new flooring (2025), dual water heaters (2024), and a mid-level workspace addition (2025).

Painted front porch (2026). The private backyard is a standout feature, complete with pool, expansive composite decking, generous seating, hot tub, and outdoor shower-perfect for hosting gatherings or unwinding after the beach. The lower level is built for entertainment, with a game room, wet bar with second fridge, bunk room, full bath, and laundry.

The mid-level offers three well-appointed bedrooms, flexible sleeping arrangements, and a private workspace-plus access to decks and screened porches with partial lighthouse views. Upstairs, the light-filled great room showcases cherry hardwood floors and an open-concept layout ideal for gathering.

The kitchen features a large island, modern appliances, and ample seating, while the en suite bedroom provides a private retreat. Whether you're seeking a high-performing rental, a second home, or both, this property stands out with its proven income, upside potential, loving long-term care, and unbeatable location in Corolla Light. Why pay rent?

Monthly Cost Estimate

$9,163/mo

20% down · 6.5% · 30 years

Principal$651
Interest$3,900
Insurance$262
HOA$4,350

Estimates only. Actual payments may vary.

Location

1131 Gray Court

Corolla, NC 27927

Corolla Light

Features & Amenities

Interior Features

Cathedral Ceiling(s)Gas ConnectionGas FireplaceIce Maker ConnectionEnsuitePantrySome Windows TreatedWasher Connection

Property Details

Construction

Frame Wood

Pool Features

Pool

Heating

CentralHeat Pump (Heating)Electric (Heating)Zoned

Cooling

Central AirHeat PumpZoned

Appliances

DisposalDishwasherDryerRange/OvenRefrigerator w/Ice MakerWasher

Questions & Answers

This 5-bedroom, 6-bathroom single family at 1131 Gray Court is listed at $899,999 ($335/sqft). The estimated monthly payment is $9,163 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance, HOA fees.

HOA fees are $4350/month.

Key features include: Built in 2004, 0.14 acre lot, Private pool, Fireplace. Interior Features: Cathedral Ceiling(s), Gas Connection, Gas Fireplace.

This property is listed by Brook Sparks.

BS

Brook Sparks

Agent at Coldwell Banker Seaside Realty

Listed by Coldwell Banker Seaside Realty · Broker phone: (252) 261-3800 · View on Broker Site · Broker website

MLS# 133650· Source: Outer Banks Association of Realtors®· 86 days on PropertySimple

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.

1131 Gray Court, Corolla, NC 27927

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