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505 S Lafayette St, Shelby, NC, 28150

0beds
2baths
1,780sqft
$279,000
$157price/sqft
$1,955/moest. monthly cost
$78,200/yrincome needed

About This Home

Welcome to downtown Shelby, where historic charm and modern updates come together in this beautifully renovated brick property. Filled with character and timeless appeal, this unique space offers endless possibilities — whether you are seeking office space, an investment opportunity, or the chance to create something entirely your own. Currently zoned General Business (GB), the city zoning also permits residential use, offering exceptional flexibility for future owners. The building is presently configured as two office suites, with one side occupied on a short-term lease, but it could easily be converted back into a single residential space. Rich in history and architectural character, the property is included on the National Register of Historic Places Continuation Sheet, further enhancing its distinctive appeal and connection to the heritage of downtown Shelby. Conveniently located approximately 0.5 miles from US-74 and just outside the Central Shelby Historic District, the property provides easy access to local dining, shopping, and the vibrant energy of downtown living. Whether you envision a professional office, boutique business, income-producing investment, live/work concept, or charming downtown residence, this versatile property presents a rare opportunity to own a piece of Shelby’s history while enjoying the convenience and growth of one of the area’s most desirable downtown locations.

Getting Around

73
WalkingVery Walkable
0
TransitVery Limited Transit
50
BikeBikeable

Schools

6/10
Elizabeth ElementaryGrades PK-52.6 mi
4/10
Shelby MiddleGrades 6-81.6 mi
3/10
Shelby HighGrades 9-120.8 mi

Construction

Condition

  • Year built: 1930

Materials

  • Foundation: Crawl Space
  • Construction materials: Brick Full

Type & Style

  • Home type: SingleFamily
  • Property subType: Single Family Residence

Interior

Appliances

  • Appliances included: Refrigerator
  • Laundry features: None

Bathroom Full

  • Level: Main

Bathroom Full

  • Level: Main

Bedrooms & Bathrooms

  • Bathrooms: 2
  • 1/2 bathrooms: 2

Features

  • Fireplace features: Other - See Remarks
  • Finished area below ground: 0
  • Finished area above ground: 1,780

Heating & Cooling

  • Heating features: Central
  • Cooling features: Central Air

Interior Area

  • Total structure area: 1,780
  • Total interior livable area: 1,780 sqft

Kitchen

  • Level: Main

Kitchen

  • Level: Main

Office

  • Level: Main

Office

  • Level: Main

Property

Accessibility

  • Accessibility features: Handicap Parking,Ramp(s)-Main Level

Details

  • Parcel number: 72354
  • Zoning: GB (General Business)
  • Special condition: Standard

Features

  • Levels: One
  • Stories: 1

Lot

  • Lot size: 0.18 Acres

Parking

  • Parking features: Parking Space(s)

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Ice Storm
    Ice StormRelatively High
  • Inland Flooding
    Inland FloodingModerate
  • Lightning
    LightningModerate
  • Strong Wind
    Strong WindModerate
  • Tornado
    TornadoModerate

How This Home’s Risks Compare

Ice Storm
Inland Flooding
Lightning
Strong Wind
Tornado

FEMA Declared Disasters in Cleveland County and North Carolina

Flood
Hurricane
Mud Landslide
Severe Storm
Tropical Depression
Tropical Storm
Winter Storm

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $1,410$16,920
Home Insurance *$124$1,488
Property Taxes $221$2,652
Electricity $200$2,405
Total$1,955$23,460
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$67,028/yr
40% on housing$58,650/yr
45% on housing$52,133/yr

North Carolina FAIR Plan Programs

North Carolina Joint Underwriting Association - FAIR Plan

Covered
WildfireWildfire
HailHail
WindWind
Visit Website →

NCIUA - Coastal Property Insurance Pool (CPIP)

Covered
WildfireWildfire
HailHail
WindWind
Visit Website →
Current Policies
Residential: 235,990Commercial: 10,165
Total Premiums$278.20M
Total Exposure$57.33B

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 9.0%
9.0%
0%30.0%
Electricity Growth Rate10-year average: 4.0%
4.0%
0%15.0%
Property Taxes Growth Rate2-year average: 0.6%
0.6%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$157This listing

vs Other Active Listings

Avg $/sqft

ZIP 28150$125
Cleveland County$145

vs Homes Sold Last Month

Median $/sqft

ZIP 28150$161
Cleveland County$162

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

No zestimate history available

Price History

DateEventPrice
2026-05-28Listed for sale$279,000
2011-12-16Sold$100,000

For Sale by Agent

AgentCindy Hogston
BrokerageEXP Realty LLC

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