178 Penicillin Point
About This Property
Inside, you'll find a spacious great room with vaulted wood ceilings, walls of windows overlooking the water, and an open layout designed for gathering with family and friends. The home's original character has been preserved, giving it the nostalgic charm of a classic lake cottage.
Step outside and enjoy the gently sloping yard, covered 24' x 24' dock, sandy shoreline, and large deep-water cove with beautiful open water views. Spend the afternoon on the deck, swim or fish from the dock, head out for a day on the lake, or simply relax and watch the sunset.
The finished lower level provides additional living space for guests, hobbies, or game nights after a day on the water. A new roof was installed in 2023, and the 28' x 18' boathouse provides plenty of additional storage.
Opportunities to own waterfront property with this combination of location, views, and potential don't come along often. Conveniently located to I-77, Troutman, and Mooresville.
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Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 22, 2026 | Sold | ||
| Sold | |||
| Sep 5, 2026 | In contract | - | |
| In contract | |||
| Aug 21, 2026 | Price Decreased |
$975,000
↓ $25K
(2.5%) | |
| Price Decreased | |||
| Jul 23, 2026 | Listed by Howard Hanna Allen Tate Statesville | $1,000,000 | |
| Listed by Howard Hanna Allen Tate Statesville | |||
| Dec 16, 2019 | Sold | ||
| Sold | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017