NOT LISTED FOR SALE

308 Meadow Dr Lexington, NC 27295

Estimated Value: $366,000 - $518,000

20 Beds
12.5 Baths
7,760 Sq Ft
$55/Sq Ft Est. Value

Sale Details

Date Sold: May 2, 2025

Last sale price $499,000 $64 Per Sq Ft

Est. 14% decrease in value since last sale

Current estimated payment $2,440 / mo

30 Days on Market

About This Home

As of May 2025

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.

Last Agent to Sell the Property

Josh Wilson

Guardian Real Estate Group LLC Brokerage Email: josh@guardianrealestategrp.com License #289067 Listed on: 02/17/2025

Last Buyer's Agent

Non Member

Canopy Administration

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1951

Lot Details

  • 3.87

Parking

  • Driveway

Home Design

  • 7,760 Sq Ft Home
  • Vinyl Siding

Bedrooms and Bathrooms

  • 20 Bedrooms

Utilities

  • Window Unit Cooling System
  • Septic Tank

Listing and Financial Details

  • Tenant pays for electricity
  • The owner pays for trash collection, water
  • Assessor Parcel Number 11-332-0-000-0020-0-0-0

Property Details

Home Type

Multi-Family

Year Built

Built in 1951

Lot Details

3.87 Acres

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Portfolio
  • Year Built: 1951
  • Road Surface Type: Dirt, Gravel
  • ResoPropertyType: ResidentialIncome
  • Property Sub Type Additional: Other
  • Geocode Confidence: High
  • Attribution Contact: josh@guardianrealestategrp.com
  • Special Features: None

Interior Features

  • Foundation Details: Other - See Remarks
  • Room Other: Bedroom(s),Bathroom(s)
  • Appliances: Other
  • Owner Pays: Trash Collection, Water
  • Above Grade Finished Sq Ft: 7760
  • Basement YN: No
  • Full Bathrooms: 12
  • Half Bathrooms: 1
  • Total Bedrooms: 20
  • Living Area: 7760

Exterior Features

  • New Construction: No
  • Construction Type: Manufactured
  • Construction Type: Vinyl

Garage/Parking

  • Main Level Garage YN: 0
  • Carport Y N: No
  • Garage Yn: No
  • Open Parking: No
  • Parking Features: Driveway

Utilities

  • Heating: Other - See Remarks
  • Sewer: Septic Installed
  • Laundry Features: Common Area
  • Cooling: Window Unit(s)
  • Water Source: City

Condo/Co-op/Association

  • Senior Community: No

Schools

  • Middle Or Junior School: Unspecified
  • HOA Subject To: None

Lot Info

  • Lot Size Units: Acres
  • Parcel Number: 11-332-0-000-0020-0-0-0
  • Zoning: RA3
  • ResoLotSizeUnits: Acres
  • Zoning Specification: RA3

Rental Info

  • Tenant Pays: Electricity
  • Pets Allowed: Conditional

Multi Family

  • Number Of Units Total: 11

MLS Schools

  • Elementary School: Unspecified
  • High School: Unspecified

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 17, 2025
Closed on
Apr 30, 2025
Sold by
Eaton Rentals Llc
Bought by
Bogey Properties Llc
Seller's Agent
Josh Wilson
Guardian Real Estate Group LLC
Buyer's Agent
Non Member
Canopy Administration
List Price
$549,900
Sold Price
$499,000
Premium/Discount to List
-$50,900
-9.26%
Views
31
Current Estimated Value
$427,416

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$71,584
Avg. Annual Appreciation
-14.35%
Original Mortgage
$374,250
Outstanding Balance
$371,580
Interest Rate
6.67%
Mortgage Type
Credit Line Revolving
Estimated Equity
$55,836

Purchase Details

Closed on
Jan 26, 2023
Sold by
Gkd Properties Llc
Bought by
Eaton Rentals Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$126,000
Interest Rate
6.31%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Aug 3, 2012
Sold by
J&J March Llc
Bought by
Gkd Properties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$179,200
Interest Rate
3.68%
Mortgage Type
Future Advance Clause Open End Mortgage

Purchase Details

Closed on
Jun 20, 2006
Sold by
Binkley Robert A and Williams Binkley Kimberly
Bought by
J & J March Llc

Purchase Details

Closed on
Feb 26, 2003
Sold by
Williams Jr Berry S and Williams Annie P
Bought by
Williams Berry S and Williams Annie P

Purchase Details

Closed on
Jun 1, 1990
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Bogey Properties Llc $499,000 None Listed On Document
Bogey Properties Llc $499,000 None Listed On Document
Eaton Rentals Llc $315,000 --
Gkd Properties Llc $224,000 None Available
J & J March Llc $135,000 None Available
Williams Berry S -- --
Binkley Robert A $110,000 --
-- $38,500 --
-- $35,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Bogey Properties Llc $374,250
Closed Bogey Properties Llc $374,250
Previous Owner Eaton Rentals Llc $126,000
Previous Owner Gkd Properties Llc $179,200
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/02/2025 05/02/25 Sold $499,000 -4.9% $64 / Sq Ft
03/19/2025 03/19/25 Pending -- -- --
03/17/2025 03/17/25 Price Changed $524,900 -4.5% $68 / Sq Ft
02/17/2025 02/17/25 For Sale $549,900 -- $71 / Sq Ft
Source: Canopy MLS

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $1,898 $246,980 $0 $0
2024 $1,898 $246,980 $0 $0
2023 $1,895 $246,980 $0 $0
2022 $1,898 $246,980 $0 $0
2021 $1,849 $246,980 $0 $0
2020 $1,489 $198,960 $0 $0
2019 $1,512 $198,960 $0 $0
2018 $1,510 $198,630 $0 $0
2017 $1,510 $198,630 $0 $0
2016 $1,510 $198,630 $0 $0
2015 $1,643 $216,170 $0 $0
2014 $1,177 $154,910 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Josh Wilson

    Seller's Agent in 2025

    Josh Wilson

    Guardian Real Estate Group LLC

    (704) 880-4426

    1 in this area

    127 Total Sales

    Josh Wilson
    Section Image

  • N

    Buyer's Agent in 2025

    Non Member

    NC_CanopyMLS

See All Agents

Map

Source: Canopy MLS

MLS Number: 4223423

Canopy MLS

APN: 11-332-0-000-0020-0-0-0

North Carolina Davidson County Lexington 27295

308 Meadow Dr, Lexington, NC

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Canopy MLS 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. Some IDX listings have been excluded from this website.
Based on information submitted to the MLS GRID
Listings courtesy of Canopy MLS as distributed by MLS GRID

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