Incredible opportunity to own your own beach cottage with sweeping ocean views in the 4×4 area of Corolla in North Swan Beach. This spacious 5 bedroom, 4.5 bath cottage sits just one row back from the ocean and has very easy and direct beach access. This custom cedar shake home sits well elevated on the lot and features a reverse floorplan to maximize the ocean views, a gas fireplace, screen porch, gameroom with pool table and foosball, updated surround sound systems and flatscreens throughout the house, outdoor pool and hot tub (new 2009), outside shower and full bathroom, separate owners storage area, and tons of decking. This home has been a favorite among renters returning year after year and has gross rental income in the mid $60K’s. Without owner usage, the home could have rentals near $70K annually offering almost 13% GRI/PP!!! Come see one of the Outer Banks best investment opportunities. This Home is currently priced $300K BELOW its tax assessed price! Both HVAC systems recently replaced (2010 and 2011) with high quality Trane systems under full 10-year extended warranties.