140 Library Ln Banner Elk, NC 28604
Estimated payment $12,367/month
Total Views
2,188
4
Beds
3
Baths
3,723
Sq Ft
$591
Price per Sq Ft
Highlights
- Guest House
- Views of Trees
- Wood Burning Stove
- Banner Elk Elementary School Rated A-
- 2.7 Acre Lot
- Radiant Floor
About This Home
A Historic Lees-McRae Legacy with Timeless Character, Modern Comforts, and Unmatched Location!
Rich in history and full of enduring charm, 140 Library Lane was the home of Reverend Edgar Tufts, founder of Lees-McRae College. Perfectly positioned in the heart of Banner Elk and adjacent to the vibrant downtown scene—town park, restaurants, boutique shops, theaters, galleries, and a yoga studio—plus seasonal attractions like the Farmer’s Market, concerts, festivals, and parades.
Yet, despite its incredible convenience, the property offers 2.7 acres of privacy with sweeping mountain vistas, creating a peaceful retreat just steps from it all. This stately 5-bedroom, 4-bath home (including a separate 1-bedroom, 1-bath fully furnished guest apartment over the garage) showcases old-world craftsmanship with original wood floors, solid wood doors, wide baseboards, and beautiful wormy chestnut trim. Three grand stone fireplaces—now converted to natural gas—anchor the living spaces, complemented by a wood-burning stove for rustic charm and warmth.
Modern upgrades blend seamlessly into the home’s character: new appliances, updated siding and windows (post-hurricane), a large new deck tucked among the trees, and two spacious storage sheds for added convenience. The two-car garage is wired for an electric vehicle, and a large workshop/studio with a 220v/45 amp outlet is ideal for creative or professional projects.
The grounds are equally enchanting, offering peaceful vignettes: a welcoming stone front porch, multiple stone patios, a swing beside a quiet pond, blooming flower gardens, rhododendron groves and stone walkways that invite you to explore.
Currently zoned R-2, the property allows accessory buildings, accessory dwellings, home occupations, and other special uses. With direct frontage on Highway 194 and surrounded by campus, rezoning for commercial or institutional use is also viable, subject to town approval.
Lovingly stewarded by the Tufts family for over 125 years, 140 Library Lane is more than a home—it is a landmark, a story, and a rare opportunity to own a piece of Banner Elk’s soul.
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
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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 |
|---|---|---|---|---|
| 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 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/30/2025 06/30/25 | For Sale | $2,200,000 | -- | $591 / Sq Ft |
Source: High Country Association of REALTORS®
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Closed | $237,000 | New Conventional | |
| Closed | $242,000 | Credit Line Revolving |
Source: Public Records
Similar Homes in Banner Elk, NC
-
$2,300,000
- 3 Beds
- 3.5 Baths
- 3,128 Sq Ft
- 324 Sugar View Trail
- Banner Elk, NC
Tucked into the mountains just minutes from Banner Elk, this exceptional custom log home offers the ultimate blend of rustic luxury, privacy, & sweeping long-range views. Offered fully furnished, the home welcomes you with wide plank heart of pine floors, soaring cathedral ceilings, & a dramatic stone fireplace framed by floor-to-ceiling windows to take in the breathtaking views! The kitchen is a
Margaret Holder Keller Williams High County
Source: High Country Association of REALTORS®
MLS Number: 256603
APN: 1859-17-00-9120-00000
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IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.
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