$699,900
About this home
This 5.9-acre investment opportunity checks every box for investors seeking immediate cash flow and long-term upside. Located just 1 mile from I-77 and under 15 minutes to Lake Norman State Park, this property sits in a high-demand rental corridor with strong tenant appeal and future commercial growth potential. Two income-producing homes—116 & 128 Lipe Rd—convey at closing, providing day-one rental income and reducing your holding costs from the start. Both homes do need some TLC, presenting a value-add opportunity for investors to renovate, increase rents, and build additional equity. Existing well and septic systems are already in place, and the mostly cleared acreage creates a streamlined path for expansion. Whether your goal is to increase doors, add additional rental units, or maximize density over time, this property is primed for scalability. The Neighborhood Business (NB) zoning adds significant value for investors. Continue operating as residential rentals while holding for appreciation, or position the property for future commercial or mixed-use development without the typical rezoning delays. This flexibility allows you to execute multiple exit strategies—cash flow, redevelopment, or resale—on your timeline. With convenient highway access and proximity to major employment areas and recreational destinations, the location supports consistent rental demand today while strengthening its appeal for future commercial tenants. For investors looking to build wealth through a combination of immediate income and long-term appreciation, this property offers a rare blend of stability, flexibility, and growth potential. Opportunities with existing cash flow, infrastructure in place, and favorable zoning are limited—this is one worth adding to your portfolio.
Property details
- MLS #
- CAR4376614
- Property type
- Acreage
- Subdivision
- None
- Status
- Active
- Days on market
- N/A
- On market date
- April 30, 2026
- Stories
- N/A
- Total bathrooms
- N/A
- Garage spaces
- N/A
- Parking spaces
- N/A
- Lot size
- N/A
Location
Get directions →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 (e.g. NC Dept. of Public Instruction, SC Report Card).
- Enrollment
- 666
- Student:teacher ratio
- 15.9:1
- District
- Iredell-Statesville Schools
- Enrollment
- 449
- Student:teacher ratio
- 15.5:1
- District
- Iredell-Statesville Schools
- Enrollment
- 149
- Student:teacher ratio
- 9.3:1
- District
- Iredell-Statesville Schools
Walkability
Blended score for Troutman'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). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).
Market position
How this listing compares to current activity in Troutman, from live MLS data.
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Data source: Listing information provided by Canopy MLS (carolina) via Trestle/CoreLogic. Last updated April 30, 2026.
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.