1131 Gray Ct, Corolla, NC

Name: 1131 Gray Ct, For Sale in Corolla - eXp Realty
Brand: Coldwell Banker Seaside Realty KH
SKU: 132207
Price: 949999 USD

House

For Sale

Listed price in listed location currency (USD).

$949,999

560

MLS® 132207

Key Facts
Description
Map

Key Facts

Type Single Family Residence

Levels Residential

Size 2686 sqft

Garage No

Taxes $4,892

Days Active 7

Lot Size 0.14 acres

Approx. Age 2004

Avg. Price Per Sqft $353

MLS® Number 132207

Property Address: 1131 Gray Ct, Corolla, NC, 27927-9676

Average square foot calculated using Size range provided by listing agent.

Description

Located in the highly sought-after Corolla Light community—renowned for its modern amenities and prime location—this beautifully updated home blends lifestyle and exceptional income potential. 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 proven performer. The current owners reserve several high-demand weeks 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). 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 seeking a high-performing rental, a second home, or both, this property stands out with its proven income, upside potential, and unbeatable location.

MLS® Number132207

Laundry Level

Central VacNo

FireplaceNo

Acreage0.14

Exterior

GarageNo

Approx. Age2004

Basement

DrivewayPaved, Carport

Garage Spaces

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Mar 19, 2026List Date

$949,999List Price

Commute

Commute

Starting Address

Destination Address

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