116 Lipe Rd

Troutman, NC 28166

$750,000
Price
3
Beds
1,025 Sq. Ft.
$732 / Sq. Ft.
1,025
Sq. Ft.
$732
per Sq. Ft.

Description

This rare 5.9-acre property is the kind of opportunity that smart investors look for but seldom find. Perfectly positioned just 1 mile from I-77 and less than 15 minutes from Lake Norman State Park, this location combines strong rental demand with long-term development flexibility. Two existing income-producing homes—116 & 128 Lipe Rd—will convey at closing, allowing the next owner to begin collecting rental income immediately. With well and septic already in place and the majority of the acreage...This rare 5.9-acre property is the kind of opportunity that smart investors look for but seldom find. Perfectly positioned just 1 mile from I-77 and less than 15 minutes from Lake Norman State Park, this location combines strong rental demand with long-term development flexibility. Two existing income-producing homes—116 & 128 Lipe Rd—will convey at closing, allowing the next owner to begin collecting rental income immediately. With well and septic already in place and the majority of the acreage cleared, the site offers the ideal foundation for expanding with additional units or holding for future commercial use. The property’s Neighborhood Business (NB) zoning is a key advantage, providing a rare level of flexibility. The county allows the current residential use to continue, enabling investors to build their portfolio without rezoning hurdles. Over time, the property can be repositioned for commercial or mixed-use development, offering multiple paths for future appreciation and increased cash flow. This combination of immediate income and long-term upside makes the property uniquely positioned for both buy-and-hold investors and strategic developers. Its location further amplifies its value. With quick highway access, the property is within easy reach of local employers, recreation, and major commuter routes—an attractive setup for both long-term tenants and future commercial tenants. Whether your strategy is to add additional rental units, hold the land as values rise, or transition to a larger-scale development project, this acreage gives you the flexibility to move at your own pace and on your own timeline. Opportunities like this don’t come around often: income on day one, infrastructure already in place, and zoning that works with your vision, not against it. Investors searching for a property that checks both the “cash flow” and “growth potential” boxes won’t want to miss this. Schedule a private tour and imagine the possibilities this 5.9-acre investment can bring to your portfolio.
  1. Listed by Kristin Hildebrand • RE/MAX Properties Plus, Inc. • kristin@cflandandhomes.com

Property Details for 116 Lipe Road

Parking Features
Driveway
Subdivision Name
None
LISTING UPDATED: 10/16/2025 01:50 PM

Property Details for 116 Lipe Road

StatusActive
MLS #4296395
Days on Market165
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeSingle Family
MLS TypeResidential / Single Family Residence
Year Built1924
Lot Size5.90 AC / 257,004 SF
CountyIredell County

Location

Listing Courtesy of RE/MAX Properties Plus, Inc.
Add your commute

Building Information for 116 Lipe Road

Stories-Year Built1924Building Size-Lot Size5.90 AC / 257,004 SF

Payment Calculator

$3,785 per month

30 year fixed, 6.15% Interest

Principal and Interest

$3,655

Property Taxes

$130

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 116 Lipe Road

Summary
Location and General Information
  • Longitude: -80.861455
  • Zoning: NB
  • Latitude: 35.673407
Taxes and HOA Information
  • HOA YN: No
  • HOA Subject To: None
  • Tax Assessed Value: $220,770.00
  • Parcel Number: 4740-75-1250.000
  • City Taxes Paid To: No City Taxes Paid
School Information
  • Middle Or Junior School: Unspecified
  • High School: Unspecified
  • Elementary School: Unspecified
Parking
  • Parking: Open Parking YN: No
  • Parking: Carport YN: No
  • Garage YN: No
  • Garage Main Level YN: No
Property
Lot Information
  • Above Grade Finished Area: 1025.0
  • Below Grade Finished Area: 0.0
  • Sq Ft Lower: 0
  • Sq Ft Main: 1025
  • Sq Ft Third: 0
  • Sq Ft Unheated Basement: 0
  • Sq Ft Unheated Lower: 0
  • Sq Ft Unheated Main: 0
  • Sq Ft Unheated Third: 0
  • Sq Ft Unheated Total: 0
  • Sq Ft Unheated Upper: 0
  • Sq Ft Upper: 0
  • Sq Ft Second Living Quarters: 0.0
  • Sq Ft Second Living Quarters HLA: 0.0
  • Sq Ft Total Property HLA: 1025.0
  • Lot Features: Cleared, Corner Lot, Open Lot, Wooded
  • Lot Size Units: Acres
  • Property Type: Residential
  • Property Sub Type Additional: Manufactured Doublewide
Property and Assessments
  • Geocode Confidence: High
  • Down Payment Resource YN: Yes
  • New Construction YN: No
  • Photos Count: 1
  • Road Responsibility: Publicly Maintained Road
  • Construction Type: Manufactured, Site Built
  • Assumable: No
  • Senior Community YN: No
  • Restrictions: Other - See Remarks
  • Restrictions Description: Property is now zoned NB within Iredell County. List of Permitted Uses are in the attachments.
Green Features
  • Green Verification Count: 0
Utilities
  • Sewer: Septic Installed
  • Water Source: Well
Interior and Exterior Features
Exterior Features
  • Construction Materials: Other - See Remarks
  • Road Surface Type: Dirt, Gravel, Paved
  • Roof: Metal
  • Other Structures: Shed(s)
Interior Features
  • Appliances: Other
  • Levels: One
  • Cooling: Other - See Remarks
  • Heating: Other - See Remarks
  • Laundry Features: Other - See Remarks
  • Fireplace YN: No
  • Foundation Details: Permanent
  • Basement YN: No
  • Bedroom Basement: 0
  • Bedroom Lower: 0
  • Bedroom Main: 3
  • Bedroom Second LQ: 0
  • Bedroom Third: 0
  • Bedroom Upper: 0
  • Full Bath Basement: 0
  • Full Bath Lower: 0
  • Full Bath Main: 1
  • Full Bath Second LQ: 0
  • Full Bath Third: 0
  • Full Bath Upper: 0
  • Half Bath Basement: 0
  • Half Bath Lower: 0
  • Half Bath Main: 0
  • Half Bath Second LQ: 0
  • Half Bath Third: 0
  • Half Bath Upper: 0
Room Information
Room Information
  • Room Count: 1.0
Room 1
  • Room Types: Primary Bedroom
  • Room Level: Main

Property History for 116 Lipe Road

DateEvent & SourcePriceAppreciation
Aug 27, 2025

Listed (Active)

CANOPY #4296395

$750,000—
Jul 22, 2025

Price Change

TRIAD #1172646

$750,000—
Jul 19, 2025

Price Change

CANOPY #4231119

$750,000—
May 22, 2025

Price Change

TRIAD #1172646

$799,999—
May 22, 2025

Price Change

CANOPY #4231119

$799,999—
Mar 6, 2025

Listed (Active)

CANOPY #4231119

$850,000—
Mar 6, 2025

Listed (Active)

TRIAD #1172646

$850,000—
Dec 31, 2024

Expired

CANOPY #4051007

$650,000—
Dec 31, 2024

Expired

CANOPY #4049791

$650,000—
Jul 20, 2023

Listed (Active)

CANOPY #4051007

$650,000—
Jul 16, 2023

Listed (Active)

CANOPY #4049791

$650,000—
DateEvent & SourcePrice
08/27/2025

Listed (Active)

CANOPY #4296395

$750,000
07/22/2025

Price Change

TRIAD #1172646

$750,000
07/19/2025

Price Change

CANOPY #4231119

$750,000
05/22/2025

Price Change

TRIAD #1172646

$799,999
05/22/2025

Price Change

CANOPY #4231119

$799,999
03/06/2025

Listed (Active)

CANOPY #4231119

$850,000
03/06/2025

Listed (Active)

TRIAD #1172646

$850,000
12/31/2024

Expired

CANOPY #4051007

$650,000
12/31/2024

Expired

CANOPY #4049791

$650,000
07/20/2023

Listed (Active)

CANOPY #4051007

$650,000
07/16/2023

Listed (Active)

CANOPY #4049791

$650,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 116 Lipe Road

Taxable ValueLand$154,990Additions$65,780Total$220,770
Tax Record2025$1,565 ($130 / month)
Home Facts
Beds3Baths1Total Finished SqFt1,025 SqFtAbove Grade Finished SqFt1,025 SqFtStories1Lot Size257,004 SqFtStyleSingle Family ResidenceYear Built1924Year Renovated1939ZoningRACountyIREDELLAPN4740-75-1250.000Fireplace TypeHas Fireplace

Schools near 116 Lipe Road

This home is within Iredell-Statesville School District.
Rating
School
Type
Grades
Distance
Troutman Elementary School
Public - PK to 5
Troutman Middle School
Public - 6 to 8
South Iredell High School
Public - 9 to 12
Career Academy And Technical School
Public - 6 to 12
Rating
School
Distance
Troutman Elementary School
PublicPK to 5

Troutman Middle School
Public6 to 8

South Iredell High School
Public9 to 12

Career Academy And Technical School
Public6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 116 Lipe Road, Troutman, NC 28166

116 Lipe Road is a single family home for sale in Troutman, NC 28166. This property was listed for sale on August 27, 2025 by RE/MAX Properties Plus, Inc., it's currently listed at $750,000. This listing's school district is Iredell-Statesville School District. Nearby schools include Troutman Elementary School, Troutman Middle School and South Iredell High School. 116 Lipe Road is a 3-bed, 1-bath, 1,025 sqft single family home built in 1924.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX Properties Plus, Inc.

Based on information submitted to the MLS GRID as of 10/16/2025 01:50 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.