116 Lipe RD Active Save Request In-Person Tour Request Virtual Tour
Troutman,NC 28166
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 1,025 sqft
Price per Sqft $731
MLS Listing ID 4296395
Bedrooms 3
Full Baths 1
Year Built 1924
Lot Size 5.900 Acres
Property Sub-Type Single Family Residence
Property Description
This 5.9-acre property is an incredible opportunity for real estate investors looking to grow their rental portfolio in a prime location. Situated just 1 mile from I-77 and less than 15 minutes from Lake Norman State Park, the property offers both convenience and strong demand for rental housing. Two existing homes, located at 116 & 128 Lipe Rd, will remain with the property at closing, allowing investors to begin generating rental income right away. With well and septic already in place and most of the acreage cleared, there is plenty of room to add additional homes, creating the potential for a steady stream of income-producing properties all on one site.
While the property has been rezoned Neighborhood Business (NB), the county permits continued residential use, making it especially attractive for investors who want to focus on rental income while holding land that has strong future development potential. The existing zoning also provides long-term flexibility should an investor choose to transition the property into commercial or mixed-use purposes down the road.
Opportunities like this—where you can start earning rental income immediately while also securing acreage with future upside—are rare in today's market. Whether you're looking to hold and rent, expand with additional homes, or strategically plan for future development, this property provides a unique investment with multiple pathways to long-term growth and cash flow.
Location
State NC
County Iredell
Zoning NB
Interior
Heating Other - See Remarks
Cooling Other - See Remarks
Laundry Other - See Remarks
Exterior
Roof Type Metal
Building
Lot Description Cleared,Corner Lot,Open Lot,Wooded
Dwelling Type Manufactured,Site Built
Foundation Permanent
Sewer Septic Installed
Water Well
Structure Type Other - See Remarks
New Construction false
Schools
Elementary Schools Unspecified
Middle Schools Unspecified
High Schools Unspecified
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition None