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🔥 202 Steele Ave, Cleveland, NC 27013. Manufactured home WITH land — 3 bed / 2 bath, 1,120 sq ft on 2.06 acres. Sold comps averaging ~$219K — priced at $90K. That’s ~$129K below market. 🤝
Why Cleveland? Sitting right in the sweet spot between Statesville, Mooresville, and the Lake Norman corridor, Cleveland punches above its weight for investors who know where to look. Iredell County continues to attract manufacturing jobs and growing residential demand, and rural Iredell properties with land are becoming harder to find at any price — let alone this one. If you’re looking for value-add in a market with real appreciation tailwinds, this zip code is worth your attention.
💰 Asking: $90,000 | Comp Average: ~$219,000 | 🔥 Spread: ~$129,000
| Type | Manufactured Home WITH Land |
| Bedrooms / Baths | 3 bed / 2 bath |
| Living Area | 1,120 sq ft |
| Year Built | 1997 |
| Lot Size | 2.06 acres |
| Utilities | Well & Septic / Energy United (Electric) |
| Occupancy at Closing | ✅ Will be vacant at closing |
| Closing Date | May 29, 2026 |
| Closing Attorney | Atlas Orange |
⚠️ Roof is approximately 28 years old (1998) and will likely need replacement — factor into your budget. ⚠️ No traditional HVAC system — property is currently heated via electric fireplace and window AC units. It does have a wood-burning fireplace. Price reflects these deferred items.
| Address | Sq Ft | Sale Price | Price/Sq Ft | Notes |
|---|---|---|---|---|
| 121 Sonoma Dr | 1,350 | $225,000 | $167/sq ft | Sold comp |
| 1130 Ostwalt Amity Rd | 1,404 | $220,000 | $157/sq ft | Sold May 2024 |
| 125 Rocky Point | 1,398 | $215,000 | $154/sq ft | Sold comp |
| 208 James Dr | 1,152 | $214,000 | $186/sq ft | Sold comp |
| Comp Average (sold) | ~1,326 | ~$218,500 | ~$165/sq ft | |
| 🏷️ Our Price | 1,120 | $90,000 | $80/sq ft | |
| 💸 Your Spread | ~$128,500 |
💡 At $80/sq ft you’re buying into a market where sold comps are ranging from $154–$186/sq ft. Even after budgeting for a new roof and a proper HVAC system (factor $15K–$25K), the spread is still enormous. The 2+ acres is the real multiplier here — land like this in Iredell County is increasingly scarce and adds long-term hold value well beyond the structure. This is a value-add or fix-and-flip play with serious room to run.
⚠️ DISCLAIMER — Please Read Before Submitting an Offer
📋 Assignment of Contract
This is an assignment of contract. A legally binding purchase agreement with a memorandum has been executed with the Seller, granting this company exclusive rights to purchase the property. We are not brokers or realtors and do not represent the owner.
🚫 Do not contact the Seller directly. Any attempt to contact, interfere with, or circumvent our active contract will result in legal action. This property is not to be re-marketed without our explicit written consent and execution of a joint venture agreement.
🔍 Due Diligence
Buyers are responsible for their own due diligence. We are not licensed agents. Please consult appropriate legal or professional counsel before submitting an offer.
💰 Offer & Deposit Terms
- $5,000 non-refundable deposit due within 24 hours of signing
- Closing no longer than 30 calendar days
- Buyer pays all closing costs — not included in asking price
- Taxes prorated and split between parties
- $495 transaction fee payable to Bright Home Offer LLC
- Closing through our closing attorney
🏚️ As-Is Terms
Property is offered as-is, where-is, no warranties. By submitting an offer you accept these terms.
- ❌ No repairs or improvements prior to closing
- ❌ No clean-out or clean-up of any kind
- ❌ Property will not be broom clean at closing
🤝 Realtors & Wholesalers
The wholesale price does not include your commission or fee. You may either negotiate your fee directly with your client or adjust the wholesale price upward to account for it. If you’d like to be compensated by us, include those terms in your offer or reach out before submitting.