Nags Head — Live Deals
Nags Head is the busier, more commercial “value/yield” end of OBX (Dare County). Lower entry prices and stronger gross-yield-to-price — the mirror image of Duck. Effective tax burden is real and low: ~0.42–0.53% of price, derived from actual tax lines on the live listings below. HIGH This page contains the single best cost-neutral candidate in the whole report.
The star — 8BR oceanfront that nearly pencils at 20% down
Section titled “The star — 8BR oceanfront that nearly pencils at 20% down”6927 S Virginia Dare Trail — oceanfront VERIFIED
| Gross annual rent | $271,000 |
| − Management (18%) | ($48,780) |
| − Property tax (0.53%) | ($13,515) |
| − Insurance (3 policies) | ($13,000) |
| − Pool / utilities / maintenance / HOA | ($32,000) |
| = Net Operating Income | $163,705 |
Leverage test: unlevered yield 6.4% vs. mortgage constant8.0% @ 7.00% →negative leverage.
| Cash flow at 20% down | +$70/mo neutral+ |
| Cash flow at 30% down | +$1,766/mo neutral+ |
| Down payment to reach cost-neutral | ≈ 20% down |
$2,550,000 list; ~$271,000/yr agent projection (not booked actuals — haircut it in your own model). ERP ~10.6% is the highest in the report, and it drives the unlevered yield close enough to the mortgage constant that this comes near cost-neutral at ~20% down. This is the thesis realized on a real, currently-listed home.
Mid-tier oceanfront — 5BR, ~$100K already booked
Section titled “Mid-tier oceanfront — 5BR, ~$100K already booked”9309 S Old Oregon Inlet Rd — South Nags Head oceanfront VERIFIED
| Gross annual rent | $135,000 |
| − Management (18%) | ($24,300) |
| − Property tax (0.53%) | ($8,210) |
| − Insurance (3 policies) | ($11,000) |
| − Pool / utilities / maintenance / HOA | ($18,000) |
| = Net Operating Income | $73,490 |
Leverage test: unlevered yield 4.7% vs. mortgage constant8.0% @ 7.00% →negative leverage.
| Cash flow at 20% down | −$2,120/mo feeds it |
| Cash flow at 35% down | −$574/mo feeds it |
| Down payment to reach cost-neutral | ≈ 41% down |
$1,549,000 list; projected up to ~$135,000/yr with ~$100,000 already booked for 2026. ERP ~8.7%. A cleaner, lower-ticket entry than the 8BR — solid yield, more approachable price.
The value entry — soundside 4BR under $600K
Section titled “The value entry — soundside 4BR under $600K”109D Danube St W — Old Nags Head Cove VERIFIED
| Gross annual rent | $52,000 |
| − Management (18%) | ($9,360) |
| − Property tax (0.42%) | ($2,415) |
| − Insurance (3 policies) | ($4,500) |
| − Pool / utilities / maintenance / HOA | ($9,000) |
| = Net Operating Income | $26,725 |
Leverage test: unlevered yield 4.6% vs. mortgage constant8.0% @ 7.00% →negative leverage.
| Cash flow at 20% down | −$833/mo feeds it |
| Cash flow at 40% down | −$68/mo feeds it |
| Down payment to reach cost-neutral | ≈ 42% down |
$575,000 list, real 2025 tax $2,414 (0.42%). Gross rent is an ESTIMATE (~$52k) — no projection published; soundside 4BR value band. Low ticket and low absolute cost, but soundside/association-pool homes carry lower ERP and the small NOI still can't outrun the mortgage at 20% down. Cheap to own outright, hard to leverage to neutral.
Nags Head read-out
Section titled “Nags Head read-out”Nags Head validates the whole thesis with live data: the high-ERP 8BR oceanfront ($2.55M / $271K projection) is the only currently-listed home in the report that approaches cost-neutral at a normal ~20% down payment — because yield, not prestige, is what beats the mortgage constant. Meanwhile the sub-$600K soundside home is cheap to own but hard to leverage to neutral (low ERP, tiny NOI). Price and cost-neutrality are different questions. Pull it together in the head-to-head →.