Investor Opportunity in the Heart of Drexel! This 2-bedroom, 1-bath home offers over 1,000 square feet of living space. It is centrally located within the town of Drexel, just minutes from local shops, restaurants, and convenient access to I-40 for an easy commute to Morganton, Hickory, and surrounding areas. This property has significant potential and would be an excellent opportunity for investors, flippers, or buyers looking to renovate and add value. Inside, you'll find original hardwood floors throughout most of the home and a functional layout that makes great use of the space. The home features two fireplaces—one in the living room and another in the kitchen—both believed to be wood-burning if uncovered, offering character and charm that could really shine with the right updates. Situated on approximately 0.77 acres, the lot is mostly cleared and relatively flat, providing plenty of room for outdoor enjoyment, gardening, or future improvements. With its convenient location, spacious lot, and solid bones, this property is ready for someone with vision to bring it back to life. Don't miss the opportunity to unlock the potential this Drexel property has to offer!
Closed
$85,000
505 Mimosa Ave, Morganton, NC 28655
2beds
1,004sqft
Single Family Residence
Built in 1935
0.77 Acres Lot
$83,700 Zestimate®
$85/sqft
$1,231 Estimated rent
Home value
$83,700
$69,000 - $102,000
$1,231/mo
Zestimate® history
Owner options
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$1,231/mo
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$1,231/mo
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$405/mo
Est. payment
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$405/mo
Est. payment
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List your homeWhat's special
Two fireplacesSpacious lotFunctional layout
Zillow last checked:
Listing updated:
Listed by:
Madeline Pollard madelinepollardrealestate@gmail.com,
Chase Gray Realty LLC
Bought with:
Joel Vasquez Arias
Western Piedmont Real Estate, LLC
Source: Canopy MLS as distributed by MLS GRID,MLS#: 4357887
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 1
- Full bathrooms: 1
- Main level bedrooms: 2
Primary bedroom
- Level: Main
Bedroom s
- Level: Main
Bathroom full
- Level: Main
Basement
- Level: Basement
Dining area
- Level: Main
Kitchen
- Level: Main
Laundry
- Level: Main
Living room
- Level: Main
Sunroom
- Level: Main
Heating
- Floor Furnace, Other
Cooling
- Window Unit(s)
Appliances
- Included: Dryer, Electric Range, Refrigerator, Washer
- Laundry: Laundry Room
Features
- Flooring: Carpet, Tile, Wood
- Basement: Dirt Floor,Interior Entry,Unfinished
- Fireplace features: Living Room, Wood Burning
Interior area
- Total structure area: 1,004
- Total interior livable area: 1,004 sqft
- Finished area above ground: 1,004
- Finished area below ground: 0
Property
Parking
- Parking features: Driveway
- Has uncovered spaces: Yes
Features
- Levels: One
- Stories: 1
- Patio & porch: Front Porch
Lot
- Size: 0.77 Acres
- Features: Cleared
Details
- Parcel number: 2723785679
- Zoning: R-8
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Vinyl
Condition
- New construction: No
- Year built: 1935
Utilities & green energy
- Sewer: Public Sewer
- Water: City
Community & HOA
Community
- Subdivision: none
Location
- Region: Morganton
Financial & listing details
- Price per square foot: $85/sqft
- Tax assessed value: $70,506
- Annual tax amount: $735
- Date on market: 3/16/2026
- Cumulative days on market: 2 days
- Listing terms: Cash
- Road surface type: Gravel, Paved
Price history
| Date | Event | Price |
|---|---|---|
| 4/1/2026 | Sold | $85,000$85/sqft |
Source:  Canopy MLS as distributed by MLS GRID #4357887 Report a problem | ||
| 3/16/2026 | Listed for sale | $85,000$85/sqft |
Source: Canopy MLS as distributed by MLS GRID #4357887 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $735 +50.7% | $70,506 |
| 2024 | $488 +1% | $70,506 |
| 2023 | $483 +12% | $70,506 +40.4% |
| 2022 | $431 +1.4% | $50,231 |
| 2021 | $425 +0.9% | $50,231 |
| 2020 | $421 +29.1% | $50,231 |
| 2019 | $326 -16.4% | $50,231 +9.7% |
| 2018 | $390 +3.7% | $45,780 |
| 2017 | $376 | $45,780 |
| 2016 | $376 +0.8% | $45,780 |
| 2015 | $373 | $45,780 |
Find assessor info on the county website
Neighborhood: 28655
Nearby homes
- $179,7002 bd1 ba1.2k sqft102 Reece Rd, Morganton, NC 28655Off Market
- $5,5000.5 Acres102 Reece Rd, Morganton, NC 28655Off Market
- $54,1403 bd1 ba1.2k sqft104 Reese Rd, Morganton, NC 28655Off Market
- $175,0002 bd2 ba1.2k sqft104 Reece Rd, Morganton, NC 28655Sold
- $255,0004 bd2 ba1.5k sqft501 Mimosa Ave, Morganton, NC 28655Off Market
- $17,3510.9 Acres501 Mimosa Ave, Morganton, NC 28655Off Market
- $188,3003 bd1 ba864 sqft515 Mimosa Ave, Morganton, NC 28655Off Market
- $37,905-- bd-- ba-- sqft508 A/b S Mimosa Ave, Morganton, NC 28655Off Market
Nearby schools
GreatSchools rating
- 7/10Drexel PrimaryGrades: PK-5Distance: 0.3 mi
- 5/10Heritage MiddleGrades: 6-8Distance: 1.5 mi
- 8/10Jimmy C. Draughn High SchoolGrades: 9-12Distance: 3.5 mi
Schools provided by the listing agent
- Elementary: Drexel
- Middle: Heritage
- High: Jimmy C Draughn
Source: Canopy MLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$83,700
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$83,700
- North Carolina
- Burke County
- Morganton
- 28655
- 505 Mimosa Ave
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