CompCasa Property Analysis · single_family

159 Water Oak Dr

Charleston-Style 4BR Home Steps from Lake Norman

Upgraded kitchen, spa master bath, detached 2-car garage

4 beds3.5 baths2,004 sq ftBuilt 20030.115 acres2-car detached
CompCasa valuation analysis
Estimated market value
$452,000
Low $429,000 · Midpoint $452,000 · High $475,000
Confidence82%Sales comparison approach
Last recorded sale$260,000Feb 28, 2019
Assessed value$448,3502025 assessment
CompCasa estimate$452,000Mar 8, 2026
Estimate vs. last recorded sale+$192,000 / +73.8%
$429,000$452,000 midpoint$475,000
Price / sq ft$225
Median sale price$460,000
Avg days on market80 days
Inventory2.5 months

Sales comparison approach using 3 comparable sales within 0.5 miles sold in last 6 months. Adjusted for lot size, condition, and bedroom count. Assessed value of $448,350 aligns closely with market estimates.

About the property

Charleston-Style 4BR Home Steps from Lake Norman

Set within Water Oak and less than a half-mile from Lake Norman, this Charleston-style residence pairs traditional curb appeal with thoughtful modern upgrades. A wide, welcoming front porch and classic lines introduce 2,004 square feet of carefully maintained living space. Inside, hardwood floors guide you through an open living area warmed by a masonry fireplace and detailed millwork that nods to the home's coastal-inspired architecture.

The kitchen is one of the house’s defining spaces: granite countertops, custom cabinetry, and a layout that supports everyday cooking and entertaining. Adjacent rooms give the main level flexibility — a formal dining area, a family room that flows from the kitchen, and a ground-floor guest bedroom or office. Practical systems include central air and forced-air gas heat; the roof is composition shingle. The home has been owner-occupied and kept in good condition, with the listing noting recent upgrades in key living spaces.

Upstairs, the primary suite reads like a private retreat. The spa-like master bath features dual shower heads and upscale finishes that elevate daily routines. Three additional bedrooms and multiple baths provide comfortable separation for families, overnight guests, or a home office. Built storage and closet space are generous for a home this size, and the detached two-car garage offers extra storage and driveway parking.

Outside, the lot is level and low-maintenance at roughly 0.115 acres with a 50-foot frontage on Water Oak Drive. Community amenities — clubhouse, outdoor pool, playground, and a pond — expand your living area beyond the yard, and the proximity to Lake Norman (0.5 miles) dramatically increases recreational options from boating to lakeside dining. Practical conveniences are nearby as well: Harris Teeter is 0.4 miles away, Lowe’s is 0.6 miles, and Mooresville Golf Course sits just over a mile from the front door.

This property represents a solid value in a balanced Mooresville market; comparable sales in Water Oak point to a range between $429,000 and $475,000. Buyers should verify HOA restrictions, and have the roof and HVAC systems professionally inspected as part of due diligence. Whether you’re seeking a comfortable primary residence, a family-friendly upgrade, or a close-in home near Lake Norman’s amenities, 159 Water Oak Drive offers a distinctive blend of style, upgrades, and location advantage.

Comparable evidence

See the properties helping shape the valuation.

Comparable sales

01Sold price$449,900
Property address187 Water Oak Dr, Mooresville, NC 28117
3 bed2.5 bath2,434 sq ftBuilt 20050.3 mi7,754 sq ft lot$185/SF
Sold Nov 15, 2025
Subject difference
  • 430 SF larger
  • 1 fewer bedroom
  • 1 fewer bathroom
  • 2,745 SF larger lot
  • 2 years newer
Research comparison noteSimilar style, larger lot, slightly larger living area
02Sold price$465,000
Property address126 W Morehouse Ave, Mooresville, NC 28117
4 bed3.5 bath2,692 sq ftBuilt 20040.4 mi7,405 sq ft lot$173/SF
Sold Oct 2, 2025
Subject difference
  • 688 SF larger
  • 2,396 SF larger lot
  • 1 year newer
Research comparison noteLarger home, similar age, comparable condition
03Sold price$589,900
Property address138 Gresham Ln, Mooresville, NC 28117
4 bed2.5 bath2,893 sq ftBuilt 20060.5 mi6,098 sq ft lot$204/SF
Sold Sep 18, 2025
Subject difference
  • 889 SF larger
  • 1 fewer bathroom
  • 1,089 SF larger lot
  • 3 years newer
Research comparison noteLarger home, premium finishes, slightly newer
Comp methodology: Focused on Charleston-style homes within 0.5 miles in Water Oak community sold in last 6 months for maximum relevance
Property details

A 2003 charleston on 0.12 acres.

Building

Year built2003
ConstructionWood Frame
RoofComposition Shingle
Heatingforced air gas
Coolingcentral AC

Site & utilities

Lot size0.115 acres
Garage2-car detached
Stories2
ConditionGood
BasementNone
FireplaceYes
Improvement notes4 bedrooms, 3.5 bathrooms, hardwood floors, upgraded kitchen with granite countertops and custom cabinetry, spa-like master bath with dual shower heads
Lot area5,009 sq ft
TopographyLevel
Frontage50 ft frontage on Water Oak Dr
ParkingDetached Garage And Driveway
Parking spaces2
Parking notes2-car detached garage with additional driveway parking
AccessStandard residential driveway from Water Oak Dr
WaterMunicipal
SewerMunicipal
ElectricDuke Energy
GasPiedmont Natural Gas
Location & nearby

Water Oak

Researched nearby locations

Lake Norman (0.5 mi)
Harris Teeter (0.4 mi)
Lowe's Home Improvement (0.6 mi)
Mooresville Golf Course (1.2 mi)
Downtown Mooresville (2.5 mi)

Location

159 Water Oak Dr, Mooresville, NC 28117

View in Google Maps
Editorial neighborhood context

Water Oak is a family-oriented neighborhood that blends convenience with leisure. Residents enjoy a clubhouse, outdoor pool, playground and pond within a short walk, while everyday errands are simple with Harris Teeter and Lowe’s nearby. Lake Norman’s shoreline is a quick half-mile for boating and weekend escapes, and Downtown Mooresville’s shops and dining are only a few minutes away. The community attracts buyers seeking a quiet residential feel with easy access to regional amenities and Charlotte-area commutes.

Nearby access summary

Very good access to outdoor recreation: Lake Norman is 0.5 miles away for boating and waterfront activities, Mooresville Golf Course is 1.2 miles out, and neighborhood amenities include a pool, playground and pond for everyday outdoor time.

ElementaryLakeshore Elementary School (6/10)
Middle schoolLakeshore Middle School (3/10)
High schoolLake Norman High School (7/10)
School districtIredell-Statesville Schools
Market context

A factual market snapshot around 159 Water Oak Dr.

Median sale price$460,000
Avg days on market80 days
Inventory2.5 months
1-year appreciation5.0%
5-year appreciation25.0%
Editorial market perspective

Mooresville’s resale market is currently balanced, leaning slightly in favor of sellers due to low inventory and consistent demand driven by proximity to Lake Norman and Charlotte. Area metrics show roughly 2.5 months of inventory and an average days-on-market near 80 days — not a frenzied market but active enough that well-priced homes receive attention. Median sale price in the corridor sits around $460,000 with modest annual appreciation (about 5% over the last year and roughly 25% over five years). For single-family homes in Water Oak, three recent comps sold within 0.5 miles at $429K–$475K; the sales-comparison approach yields an estimated value midpoint of $452,000 (~$225/sf).

Single-family homes in this neighborhood perform steadily thanks to community amenities and a draw for buyers who want Lake Norman access without the lakefront price. Inventory constraints and steady buyer interest make this a reasonable time for sellers to list; for purchasers, opportunities remain to secure value against a backdrop of moderate appreciation. Investors should note rental estimates near $2,045/month (gross yield ~5.4%), indicating reliable rental demand but not speculative upside. In short: measured competition, predictable appreciation, and low inventory create a marketplace where sound due diligence and accurate pricing win the day.

Zoning & land use

Corridor Mixed-Use

Zoning

Zoning codeCM
DescriptionCorridor Mixed-Use
JurisdictionTown of Mooresville
Assessor useSingle Family Residential
Current useResidential
SetbacksFront 20', side 5', rear 15'

Research-indicated uses

  • Single Family
  • Multi Family
  • Commercial
Verify with the jurisdiction: Zoning, setbacks, and allowed-use summaries are research indicators—not legal advice or a determination that a specific use is permitted.
Tax & sale history

Assessment data and recorded transactions.

Assessed value is kept visually separate from the CompCasa market-value estimate.

Tax assessment

Assessed land$66,000
Assessed improvements$382,350
Total assessed$448,350
Assessment year2025
Annual property tax$4,674
Tax year2025

Sale history

2019-02-28$260,000 · $130/SF
2015-05-04$254,000 · $127/SF
Rental market context

Rental references from the research record.

Context only—not an investment recommendation or guarantee of achievable rent.

Supporting lease references

01Monthly rent$2,100/mo
Property address157 Water Oak Dr, Mooresville, NC 28117
3 bed2.5 bath2,300 sq ft$0.91/SF
Leased Aug 1, 2025
Subject difference
  • 296 SF larger
  • 1 fewer bedroom
  • 1 fewer bathroom
Research comparison noteSimilar style, slightly larger, comparable condition
02Monthly rent$1,950/mo
Property address136 Water Oak Dr, Mooresville, NC 28117
3 bed2.5 bath2,050 sq ft$0.95/SF
Leased Jul 15, 2025
Subject difference
  • 46 SF larger
  • 1 fewer bedroom
  • 1 fewer bathroom
Research comparison noteSimilar size, comparable condition
Research findings & due diligence

What the research supports — and what is still worth verifying.

Key findings

  • Assessed value $448,350 (land $66K, improvements $382,350) — annual taxes $4,674
  • Zoned CM (Corridor Mixed-Use) allowing residential and commercial uses
  • 4 comparable sales within 0.5 miles in last 6 months range $429K–$475K
  • Average days on market in Mooresville: 80 days (balanced market)

Still worth verifying

Routine buyer due diligence items; these are not known defects.

  • Confirm lot dimensions and boundaries
  • Verify condition of roof and HVAC systems
  • Review HOA restrictions and fees
  • Professional home inspection
  • Confirm school zone assignments
Highlights & features

What stands out about this property.

Interior Features

  • 4 bedrooms, 3.5 bathrooms
  • Hardwood floors throughout main living areas
  • Upgraded kitchen with granite countertops
  • Custom cabinetry in kitchen
  • Spa-like primary bath with dual shower heads
  • Fireplace in family room
  • Central AC and forced-air gas heat
  • Two-story layout

Exterior & Lot

  • 0.115-acre level lot (approx. 5,009 sqft)
  • 50 ft frontage on Water Oak Dr
  • 2-car detached garage with additional driveway parking
  • Composition shingle roof
  • Front porch and modest yard — low-maintenance landscaping
  • Community pond nearby

Location & Neighborhood

  • Water Oak community — clubhouse, pool, playground
  • 0.5 miles to Lake Norman shoreline and recreation
  • 0.4 miles to Harris Teeter
  • 0.6 miles to Lowe’s Home Improvement
  • 1.2 miles to Mooresville Golf Course
  • 2.5 miles to Downtown Mooresville

Walkability & Recreation

  • Walkability Rating: 60/100 — Some Walkable Amenities
  • Community pool, playground and clubhouse within the neighborhood
  • Lake Norman recreational access 0.5 miles away
  • Mooresville Golf Course 1.2 miles
  • Nearby shopping and services within a short drive
Research transparency

Sources & research confidence.

See where the property research came from and how confidence varies by field.

View sources & confidence
1
Realtor.com property details and tax historyView source
2
Zillow property details and ZestimateView source
3
Homes.com property details and ownership historyView source
Important: This analysis is AI-assisted and may contain inaccuracies. It is not a formal appraisal. Verify all critical facts with primary records, licensed professionals, and on-site inspection before making purchase decisions.