$85,000
UNDER CONTRACT

505 Mimosa Ave Morganton, NC 28655

Total Views 666
2 Beds
1 Bath
1,004 Sq Ft
$85 Price per Sq Ft

Highlights

  • Wood Flooring
  • No HOA
  • Laundry Room
  • Heritage Middle School Rated A-
  • Front Porch
  • 1-Story Property

About This Home

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!

Listing Agent

Madeline Pollard

Chase Gray Realty LLC Brokerage Email: madelinepollardrealestate@gmail.com License #354995 Listed on: 03/16/2026

Home Details

Home Type

  • Single Family

Year Built

  • Built in 1935

Lot Details

  • 0.77 Acre Lot
  • Cleared Lot
  • Property is zoned R-8

Parking

  • Driveway

Home Design

  • Architectural Shingle Roof
  • Vinyl Siding

Interior Spaces

  • 1-Story Property
  • Wood Burning Fireplace
  • Living Room with Fireplace
  • Electric Range

Flooring

  • Wood
  • Carpet
  • Tile

Bedrooms and Bathrooms

  • 2 Main Level Bedrooms
  • 1 Full Bathroom

Laundry

  • Laundry Room
  • Dryer
  • Washer

Unfinished Basement

  • Interior Basement Entry
  • Dirt Floor

Outdoor Features

  • Front Porch

Schools

  • Drexel Elementary School
  • Heritage Middle School
  • Jimmy C Draughn High School

Utilities

  • Window Unit Cooling System
  • Floor Furnace

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Assessor Parcel Number 2723785679

Home Details

Home Type

Single Family

Year Built

Built in 1935

Lot Details

0.77 Acres

Listing Details

  • Property Type: Residential
  • Property Sub Type: Single Family Residence
  • Year Built: 1935
  • Restrictions: N/A
  • Road Surface Type: Gravel, Paved
  • Unit Levels: One
  • Ratio CurrentPrice/TotalPropertyHLA: 84.66
  • Property Sub Type Additional: None
  • Geocode Confidence: High
  • Attribution Contact: madelinepollardrealestate@gmail.com
  • Special Features: UnderContract

Interior Features

  • Foundation Details: Basement
  • Fireplace: Yes
  • Flooring: Carpet, Tile, Wood
  • Lower Level Sq Ft: 0
  • Main Level Sq Ft: 1004
  • Third Level Sq Ft: 0
  • Sq Ft Unheated Basement: 391
  • Sq Ft Unheated Total: 391
  • Sq Ft Upper: 0
  • Appliances: Dryer, Electric Range, Refrigerator, Washer
  • Above Grade Finished Sq Ft: 1004
  • Has Basement: Dirt Floor, Interior Entry, Unfinished
  • Basement YN: Yes
  • Full Bathrooms: 1
  • Total Bedrooms: 2
  • Fireplace Features: Living Room, Wood Burning
  • Living Area: 1004
  • Bedroom Main: 2

Exterior Features

  • New Construction: No
  • Roof: Architectural Shingle
  • Construction Type: Site Built
  • Pool Private: No
  • Construction Type: Vinyl
  • Patio And Porch Features: Front Porch

Garage/Parking

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

Utilities

  • Heating: Floor Furnace, Other - See Remarks
  • Sewer: Public Sewer
  • Laundry Features: Laundry Room
  • Cooling: Window Unit(s)
  • Water Source: City

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

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

Lot Info

  • Lot Features: Cleared
  • Lot Size Units: Acres
  • Parcel Number: 2723785679
  • Lot Size Acres: 0.77
  • Additional Parcels: No
  • Zoning Specification: R-8

MLS Schools

  • Elementary School: Drexel
  • High School: Jimmy C Draughn

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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 $735 $70,506 $24,479 $46,027
2024 $488 $70,506 $24,479 $46,027
2023 $483 $70,506 $24,479 $46,027
2022 $431 $50,231 $19,698 $30,533
2021 $425 $50,231 $19,698 $30,533
2020 $421 $50,231 $19,698 $30,533
2019 $421 $50,231 $19,698 $30,533
2018 $390 $45,780 $19,698 $26,082
2017 $388 $45,780 $19,698 $26,082
2016 $376 $45,780 $19,698 $26,082
2015 $373 $45,780 $19,698 $26,082
2014 $372 $45,780 $19,698 $26,082
2013 $372 $45,780 $19,698 $26,082
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/16/2026 03/16/26 For Sale $85,000 -- $85 / Sq Ft
Source: Canopy MLS (Canopy Realtor® Association)

Source: Canopy MLS (Canopy Realtor® Association)

MLS Number: 4357887

Canopy MLS (Canopy Realtor® Association)

APN: 10659

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