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$499,000
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Property Description
Discover Sleepy Meadows Mobile Home Park, a strategically located 10-unit mobile home park with an additional stick-built home, offering a unique investment opportunity in the heart of Lexington. This established community features many long-term tenants, ensuring steady cash flow and tenant stability. One tenant handles property upkeep in exchange for free rent, helping to keep operational costs down. For investors looking for value-add potential, the county has approved the addition of more mobile homes and the park is grandfathered in to replace mobile homes when needed. This creates an opportunity to increase revenue. Coin laundry on-site creating more revenue. While some of the existing units may require work, this presents a chance to enhance the property and boost long-term profitability. Whether you're a seasoned investor or new to the mobile home park asset class, Sleepy Meadows offers stability, expansion potential, and a prime location.
Full Property Details
Full Property Details for 308 Meadow Dr
General
- Sold For: $499,000
- Status: Closed
- Type: Single Family
- Source: Charlotte_Regional_Realtor_Association
- MLS ID: 4223423
Property History
- 308 Meadow Dr, Lexington, NC
- Sold $499,000 on 5/2/25
- Price Reduced $524,900 on 3/17/25
- Listed $549,900 on 2/17/25
Interior
- Appliances: Other
Rooms
Bathrooms
- Total Bathrooms: 13
- Full Bathrooms: 12
- Half Bathrooms: 1
Bedrooms
- Total Bedrooms: 20
Other Rooms
- Laundry: Common Area
Parking
- Parking Features: Driveway
Location
- County: Davidson
Community
- Pets Allowed: Yes
- Pets: Conditional
Heating & Cooling
- Cooling Type: Window Unit(s)
- Heating Type: Other - See Remarks
Utilities
- Sewer: Septic Installed
- Water: City
Structural Information
- Construction: Manufactured
- Exterior Const.: Vinyl
- Square Feet: 7,760
- Year Built: 1951
Lot Features
- Street/Road Desc.: Dirt, Gravel
- Rcmdd Zoning: RA3
Financial Considerations
- Terms: Cash, Other - See Remarks
- Tenant Pays: Electricity
Disclosures and Reports
- Special Conditions: Subject to Lease
- Property ID: 11-332-0-000-0020-0-0-0
- Lot Number: 2585-452
Listed by Guardian Real Estate Group LLC
Sold by Canopy Administration
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Schools
Schools serving 308 Meadow Dr
School District:Lexington City Schools
| Name | Grades | Distance |
|---|---|---|
South Lexington School 1000 Cotton Grove Road, Lexington, NC 27292 | PK-K | 3.7 mi |
Lexington Middle School 100 West Hemstead Street, Lexington, NC 27292 | 6-8 | 1.2 mi |
Lexington Senior High School 26 Penry Street, Lexington, NC 27292 | 9-12 | 1.2 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
308 Meadow Drive, Lexington, NC 27295 (MLS# 4223423) is a Single Family property that was sold at $499,000 on May 02, 2025. Want to learn more about 308 Meadow Drive? Do you have questions about finding other Single Family real estate for sale in Lexington? You can browse all Lexington real estate or contact a Coldwell Banker agent to request more information.

