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The OBX Cost-Neutral Play

Nags Head

Positioning

Section titled “Positioning”

Nags Head is the busier, more commercial “value/yield” end of the Outer Banks (Dare County) — the mirror image of Duck. Lower entry prices and stronger gross-yield-to-price, at the cost of the premium ADR and quiet that Duck sells. This is where the highest ERPs in the report live. HIGH

Pricing (2025–2026)

Section titled “Pricing (2025–2026)”
  • Single-family median: ~$736k (Jun 2026); trailing-12-month ~$700k, down ~2% YoY after 2024–25 highs. Monthly prints are volatile on thin volume. MED
  • Oceanfront (verified live): 8BR pool+elevator $2.55M · 8BR $2.30M (tax $12,227) · 5BR $1.55M.
  • Semi-oceanfront / 2nd row: ~$980k for a 5BR (tax $4,884).
  • Soundside value entry: ~$575k for a 4BR (tax $2,414).

Rental economics

Section titled “Rental economics”
  • Verified for-sale projections: 8BR oceanfront ~$271k/yr projection; 5BR oceanfront $135k/yr ($100k booked 2026). HIGH
  • Peak July weekly (ranges): 4BR OF ~$5k–$9k · 6BR OF (pool) ~$10k–$16k · 8BR+ OF $16k–$26k — anchored by an 8BR oceanfront posting up to $3,653/night ($25k/week). A pro-managed 5BR oceanfront ≈ $120k–$150k/yr. MED

Taxes — the lowest effective burden

Section titled “Taxes — the lowest effective burden”
  • Dare County base: 26.32¢/$100 (2025 revenue-neutral rate, down from 40.05¢ after revaluation).
  • Town of Nags Head: small town-wide nourishment component + beach-nourishment MSD add-ons by district (Districts 1–2 = 9¢, District 3 ≈ 5¢, District 4 = 1¢, Districts 5–6 = 0¢).
  • Effective all-in (derived from live tax lines): ~0.42–0.53% of price — the lowest of the three markets. HIGH

The Nags Head takeaway

Section titled “The Nags Head takeaway”

Nags Head proves the thesis with live data: its high-ERP oceanfront is the only currently-listed home in the report that approaches cost-neutral at a normal ~20% down payment. But note the flip side — the cheap sub-$600k soundside home is easy to own yet hard to leverage to neutral (low ERP, tiny NOI). Price and cost-neutrality are different questions. Modeled here: Nags Head live deals →.