47649 Buxton Back Rd

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47649 Buxton Back Rd

Buxton, NC 27920
Asking Price
$15.00M
Asset Type
Multifamily
Class
Class B

What's Special

47649 Buxton Back Rd is situated in the seaside village of Buxton, located on Hatteras Island within the North Carolina Outer Banks. The property is positioned in a central residential corridor, bordered by the Piney Ridge woodland and the Cape Hatteras National Seashore. Local amenities including the Cape Hatteras Lighthouse, the Cape Point surf break, and various locally-owned dining options are within a three-mile radius. Accessibility is provided via Highway 12, the primary north-south artery connecting the island to the northern Outer Banks and the mainland via the Bonner Bridge. This multifamily asset is positioned to serve as a primary residence for the local workforce or as long-term rental housing for permanent residents. The location is well-suited for professionals employed in the regional maritime, tourism, and federal park service sectors who require proximity to Hatteras Island’s commercial hubs. The serene coastal setting and proximity to recreational shorelines also make the property an option for individuals seeking a year-round residence within a coastal community characterized by a slower pace of life and seasonal economic cycles.

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NOI
$80,000
Cap Rate
0.53%
DSCR
0.09
Underwater
Cash-on-Cash
-18.01%
Monthly Payment
$74,211.816
Annual Cash Flow
$-810,541.789

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