Multi Family at 500 Arendell Street, Morehead City, NC 28557

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81 photos

$1,895,000

500 Arendell Street, Morehead City, NC 28557

Morehead City, NC 28557

Listed by Meredith & Matt Team Johnson · RE/MAX Ocean Properties

Bedrooms

N/A

Bathrooms

N/A

Living area

N/A

Year built

1920

About this home

The Historic City House was originally constructed as the Tidewater Power Company in 1920 and was often referred to as the Old Well House. So much charm and beauty through this beautifully renovated building, yet still maintaining so much of the original vintage charm. Downtown Morehead City's newest Airbnb just launched this summer is established and ready for investor to step in at any time with this prime location right by the Waterfront. With 4 beautifully furnished units, there are so many possibilities! THE FLAT is the first level and front entry unit and offers 2 bedrooms, 1.5 baths, full kitchen, and a spacious living area. THE RESIDENCE is the largest unit with 2 large bedrooms, 2 full bathrooms, tons of living space, 12'+ ceilings, laundry room, oversized gourmet Kitchen, and rooftop access. The rooftop has a hot tub, and large space for entertaining with views galore of downtown Morehead City Waterfront, Bogue Sound, Sugarloaf Island, Calico Creek, ICW, and more. THE LOFT offers one spacious bedroom suite with full size kitchen and large living room that has 9'+ ceilings. THE CHAMBER offers a more cozy setting with one bedroom suite and more compact kitchen. Be sure to see photos to appreciate the attention to detail throughout. All units can be connected to create one large residence if desired, units are currently closed off for privacy. Ask agent for current website to see current marketing for existing bed and breakfast. This location is tough to beat and truly is a "turn key investment"!!!

Property details

MLS: Hive MLS
MLS #: 100612016
Property type: Multi Family
Subdivision: Not In Subdivision
Status: Active
Days on market: 6
On market date: October 22, 2026
Stories: N/A
Total bathrooms: N/A
Garage spaces: N/A
Parking spaces: 2
Lot size: 0.08 acres

Location

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Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.

Elementary

Morehead City Primary

4.03 mi away · Grades -1-3

Zoned school (attendance boundary, 2015-16 data)

3.6

Local Score (state rating (2025) blended 70/30 with student-teacher ratio) -- not an official state rating

State rating: C (2025)

Enrollment: 526
Student:teacher ratio: 10.7:1
District: Carteret County Public Schools

Middle

Morehead City Middle

2.02 mi away · Grades 6-8

Zoned school (attendance boundary, 2015-16 data)

3.3

Local Score (state rating (2025) blended 70/30 with student-teacher ratio) -- not an official state rating

State rating: C (2025)

Enrollment: 448
Student:teacher ratio: 13.6:1
District: Carteret County Public Schools

High

West Carteret High

4.54 mi away · Grades 9-12

Zoned school (attendance boundary, 2015-16 data)

3.7

Local Score (state rating (2025) blended 70/30 with student-teacher ratio) -- not an official state rating

State rating: B (2025)

Enrollment: 1,134
Student:teacher ratio: 15.8:1
District: Carteret County Public Schools

Walkability

Blended score for Morehead City's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). EPA National Walkability Index only -- nearby-amenity data not cached yet for this area.

Walkable

out of 100

EPA National Walkability Index

12.0 / 20 -- Above average walkable

Market position

How this listing compares to current activity in Morehead City, from live MLS data.

On the market 6 days -- 127 fewer days than Morehead City's current average of 133 days.

For reference, the median list price across 160 active listings in Morehead City right now is $411,995.

Mortgage calculator

Estimate only - actual rate and payment depend on your lender, credit, and loan program.

Home price

Down payment

Interest rate

Loan term

Adjust tax / insurance estimates

Property tax

% / yr

Home insurance

/mo

Est. monthly payment

$11,562/mo

$379,000 down

$1,516,000 loan

Principal & interest$9,833

Property tax (est.)$1,579

Home insurance (est.)$150

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Data source: Listing information provided by Hive MLS via Trestle/CoreLogic. Last updated 3 days ago.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.