140 Library Ln Banner Elk, NC 28604
Estimated payment $10,979/month
Highlights
- Guest House
- Views of Trees
- Wood Burning Stove
- Banner Elk Elementary School Rated A-
- 2.7 Acre Lot
- Radiant Floor
About This Home
Now offered at $1,999,000, 140 Library Lane delivers flexible living in the heart of Banner Elk. The 4BR/3BA main residence is complemented by a separate 1BR/1BA fully furnished apartment over the garage—ideal for multi-generational living, guest space, or rental income.
Set on 2.97 private acres in town, this property offers the rare combination of privacy, convenience, and versatility—just minutes to restaurants, shopping, festivals, and Lees-McRae College. Historic details include original wood floors, solid wood doors, wide baseboards, and wormy chestnut trim, anchored by three grand stone fireplaces (converted to natural gas) and a wood-burning stove.
Modern upgrades enhance the character: new appliances, updated siding and windows, a spacious new deck, two storage sheds, and a two-car garage wired for an EV. A large workshop/studio with 220v/45 amp service is perfect for creative or professional projects.
The grounds invite exploration with stone porches and patios, a swing by the pond, blooming gardens, and rhododendron groves. Zoned R-2, the property allows for accessory dwellings, home occupations, and more, with potential for commercial or institutional rezoning (subject to approval).
A rare opportunity to own nearly 3 acres of history, character, and versatility in the heart of Banner Elk.
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $4,564
Year Built
- Built in 1897
Lot Details
- 2.7 Acre Lot
- Property fronts a private road
- Zoning described as R2
Parking
- 2 Car Attached Garage
- Oversized Parking
- Gravel Driveway
Home Design
- Traditional Architecture
- Wood Frame Construction
- Shingle Roof
- Architectural Shingle Roof
- Vinyl Siding
Interior Spaces
- 2-Story Property
- Living Quarters
- 3 Fireplaces
- Wood Burning Stove
- Stone Fireplace
- Gas Fireplace
- Double Pane Windows
- Wood Frame Window
- Radiant Floor
- Views of Trees
- Attic
Kitchen
- Electric Range
- Recirculated Exhaust Fan
- Microwave
- Dishwasher
Bedrooms and Bathrooms
- 4 Bedrooms
- 3 Full Bathrooms
Laundry
- Laundry on main level
- Dryer
- Washer
Unfinished Basement
- Partial Basement
- Interior Basement Entry
Outdoor Features
- Covered Patio or Porch
- Shed
Additional Homes
- Guest House
Schools
- Banner Elk Elementary School
- Avery County High School
Utilities
- Forced Air Zoned Cooling and Heating System
- Heating System Uses Gas
- Hot Water Heating System
- Electric Water Heater
- High Speed Internet
- Cable TV Available
Community Details
- No Home Owners Association
Listing and Financial Details
- Long Term Rental Allowed
- Assessor Parcel Number 1859-17-00-9120-00000
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $2,118 | $446,700 | $123,600 | $323,100 |
| 2023 | $2,119 | $527,500 | $123,600 | $403,900 |
| 2022 | $2,119 | $527,500 | $123,600 | $403,900 |
| 2021 | $2,295 | $414,700 | $123,600 | $291,100 |
| 2020 | $4,618 | $414,700 | $123,600 | $291,100 |
| 2019 | $4,618 | $414,700 | $123,600 | $291,100 |
| 2018 | $2,121 | $385,700 | $123,600 | $262,100 |
| 2017 | $4,329 | $380,900 | $0 | $0 |
| 2016 | $1,713 | $383,100 | $0 | $0 |
| 2015 | $1,713 | $383,100 | $125,800 | $257,300 |
| 2012 | -- | $364,600 | $150,900 | $213,700 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/25/2025 09/25/25 | Price Changed | $1,999,000 | -9.1% | $537 / Sq Ft |
| 06/30/2025 06/30/25 | For Sale | $2,200,000 | -- | $591 / Sq Ft |
Source: High Country Association of REALTORS®
MLS Number: 256603
APN: 1859-17-00-9120-00000
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