362 Shepps Boat Dock Rd, Lexington, NC, 27292
About This Home
Welcome to High Rock Lake – Abbots Creek! A rare opportunity to own a fully renovated waterfront compound with multiple income-producing options. This unique property features a 3-bedroom waterfront main home plus a barndominium with two additional units — a large 1-bedroom apartment and a fully equipped studio — all with private entrances, decks, secured entry, and dedicated parking. Perfect for Airbnb, short-term or long-term rentals, multi-generational living, or a private lake retreat with built-in income. Located directly on the water with deep water year-round and unobstructed lake views, this property underwent a complete high-end renovation completed March 2026. Major Renovations & Features • New white board-and-batten insulated siding • New black metal roof • New gutters with gutter guards • New kitchens and bathrooms • Luxury vinyl plank flooring throughout • Fresh paint, new lighting, and plumbing fixtures • New tile bathrooms Main Waterfront Home • Solid concrete block construction only 15 feet from the water • Beautiful white shaker kitchen cabinets • Solid surface countertops • Massive 9-foot butcher block island with seating for 12 • New stainless steel appliances • Expansive multi-level Trex decking • Wraparound covered waterfront porch Dock & Outdoor Living Enjoy incredible lake living with: • Large functional dock • Space for 36 ft pontoon • 26 ft boat on 6000 lb lift • Two jet ski ports • Dock re-decked in 2023 and freshly painted • Paver walkway to waterfront firepit • Stone sitting wall with seating for 10 • Beach area for swimming • Waterside fishing deck with hammock Barndominium Features Two additional rental units including: • Large 1-bedroom apartment • Fully equipped studio • Separate entrances, decks, and parking • Two new mini-split HVAC systems • Two electrical panels • New plumbing • Separate septic system Property Highlights • Three total units with waterfront views • No HOA – short or long-term rentals allowed • RVs, campers, and storage buildings permitted • Large concrete driveway with parking for 15+ vehicles • Room for RV parking • Three matching storage buildings for lake toys and equipment Every detail has been completed and the property is fully turnkey and ready to enjoy. Furnishings may be included with an acceptable offer. Whether you’re looking for a primary residence, vacation home, or investment property with multiple income streams, this property delivers true waterfront living in the heart of High Rock Lake. Imagine fishing from your porch, feeding ducks from your dock, and enjoying the excitement of lake life right outside your door. Pricing $1,175,000 Waterfront homes in need of renovation are selling for $400–$450 per square foot. This property offers 2,700sq ft of fully renovated waterfront living with three income-producing units. Showings Final finishing touches underway this month. Showings begin May 2026 Shown by appointment Brokers welcome More new photos coming soon.
Getting Around
Car-Dependent
Very Limited Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 2013
Materials
- Foundation: Footing
- Roof: Metal
Type & Style
- Home type: MultiFamily
- Property subType: Stick/Site Built
Interior
Appliances
- Appliances included: Dishwasher,Dryer,Microwave,Range / Oven,Refrigerator,Washer
Basement
- Basement: None
Bedrooms & Bathrooms
- Bedrooms: 5
- Bathrooms: 5
- Full bathrooms: 5
Features
- Dryer Connection,Pantry,Solid Surface Counter,Washer Connection,Laundry Room - Main Level
- Flooring: Other,Carpet,Concrete,Laminate
Heating & Cooling
- Heating features: Heat pump,Electric
- Cooling features: Central
Interior Area
- Total interior livable area: 2,700 sqft
Property
Details
- Parcel number: 0603200000121
Features
- Exterior features: Vinyl,Cement / Concrete,Metal
- Has view: Yes
- View description: Water
- Has water view: Yes
- Water view: Water
- On waterfront: Yes
Lot
- Lot size: 0.52 Acres
Parking
- Total spaces: 15
- Parking features: Off-street,On-street
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
- Inland Flooding
- Ice Storm
- Cold Wave
- Lightning
- Strong Wind
- Tornado
- Winter Weather
How This Home’s Risks Compare
FEMA Declared Disasters in Davidson County and North Carolina
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
| Monthly | Annual | |
|---|---|---|
| Mortgage | $5,304 | $63,648 |
| Home Insurance * | $483 | $5,796 |
| Property Taxes | $589 | $7,068 |
| Electricity | $251 | $3,017 |
| Total | $6,627 | $79,524 |
Income You'd Need if You Spent...
North Carolina FAIR Plan Programs
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.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-03-16 | Price change | $1,175,000 |
| 2026-03-10 | Listed for sale | $1,150,000 |
| 2025-01-25 | Listing removed | -- |
| 2025-01-14 | Listed for sale | $849,000 |
| 2024-11-23 | Listing removed | -- |
| 2024-10-16 | Price change | $849,900 |
| 2024-10-08 | Price change | $799,000 |
| 2024-09-22 | Listed for sale | $845,000 |
| 2022-03-15 | Sold | $450,000 |
| 2018-10-23 | Listing removed | $375,000 |
| 2018-10-12 | Listed for sale | $375,000 |
| 2018-09-12 | Pending sale | $375,000 |
| 2018-08-10 | Price change | $375,000 |
| 2018-06-22 | Listed for sale | $399,000 |
| 2013-02-04 | Sold | $339,000 |
| 2012-12-20 | Pending sale | $345,000 |
| 2012-12-11 | Price change | $345,000 |
| 2012-10-25 | Price change | $349,900 |
| 2012-09-18 | Price change | $369,000 |
| 2012-08-22 | Listed for sale | $389,000 |
| 2012-02-03 | Sold | $138,500 |
| 2011-11-10 | Listed for sale | $160,000 |
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