NOT LISTED FOR SALE

340 Farm Loop Rd Banner Elk, NC 28604

Estimated Value: $1,061,000 - $1,138,000

3 Beds
3.5 Baths
2,821 Sq Ft
$391/Sq Ft Est. Value

Last Sold November 15, 2024

Last sale price $1,075,000 $381 Per Sq Ft

Est. 3% increase in value since last sale

Current estimated payment $6,249/month

253 Days on Market

Highlights

  • Home fronts a pond
  • Gated Community
  • Mountain Architecture
  • Banner Elk Elementary School Rated A-
  • Vaulted Ceiling
  • Covered Patio or Porch

About This Home

As of November 2024

Welcome to 340 Farm Loop Road, a stunning mountain retreat located within the gated community of The Farm at Banner Elk. This charming mountain cottage offers the perfect blend of privacy and convenience, perched among the picturesque landscapes of the Blue Ridge Mountains. Situated on a spacious lot, this custom-built home features high-end finishes and modern amenities throughout. The open concept living area boasts vaulted ceilings, hardwood floors, and a stone fireplace, creating a warm and inviting atmosphere for entertaining guests or simply relaxing. The gourmet kitchen is a chef's dream, with top-of-the-line appliances, granite countertops, and a large island for meal prep and casual dining. The primary suite is a true retreat with its spa-like bath, oversized closet and private access to the open and covered deck overlooking the lush surroundings. Two additional bedrooms provide plenty of space for family and guests, while a bonus room offers versatile options for a home office, gym, or media room. There is approximately 1,602 square feet of unfinished space at the basement level with endless opportunities for additional space. The expansive decking on both the front and back of the home, overlooking the well-maintained grounds and yard space, offers additional outdoor living space. The Farm at Banner Elk offers residents access to a wealth of park-like amenities, such as streams, stocked trout ponds, trails and an outdoor pavilion with a fireplace. Just minutes from downtown Banner Elk, you'll have easy access to shopping, dining, and outdoor recreation opportunities throughout the year. Don't miss your opportunity to own a piece of mountain paradise at 340 Farm Loop Road. Schedule a showing today and discover the luxury and lifestyle this exceptional property has to offer. Note: There is a discrepancy between tax square footage and actual measurements. Home inspection and repair list is available with disclosures.

Last Agent to Sell the Property

Sarah Whitfield

Premier Sotheby's International Realty- Banner Elk Brokerage Phone: (828) 260-2929 Listed on: 03/06/2024

Premier Sotheby's International Realty- Banner Elk

Last Buyer's Agent

Sarah Whitfield

Premier Sotheby's International Realty- Banner Elk Brokerage Phone: (828) 260-2929 Listed on: 03/06/2024

Premier Sotheby's International Realty- Banner Elk

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $6,202

Year Built

  • Built in 2003

Lot Details

  • 0.86 Acre Lot
  • Home fronts a pond
  • Property fronts a private road

HOA Fees

  • $148 Monthly HOA Fees

Home Design

  • Mountain Architecture
  • Wood Frame Construction
  • Shingle Roof
  • Asphalt Roof
  • Wood Siding
  • Stone

Interior Spaces

  • 3-Story Property
  • Vaulted Ceiling
  • Propane Fireplace
  • Window Treatments
  • Home Security System

Kitchen

  • Gas Range
  • Recirculated Exhaust Fan
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 3 Bedrooms

Laundry

  • Laundry on main level
  • Dryer
  • Washer

Unfinished Basement

  • Walk-Out Basement
  • Crawl Space

Parking

  • Attached Garage
  • Driveway

Outdoor Features

  • Covered Patio or Porch

Schools

  • Banner Elk Elementary School
  • Avery County High School

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Propane
  • Private Water Source
  • Well
  • High Speed Internet

Listing and Financial Details

  • Short Term Rentals Allowed
  • Long Term Rental Allowed
  • Tax Lot 15
  • Assessor Parcel Number 1858-07-68-5758-00000

Community Details

Overview

  • The Farm At Banner Elk Subdivision

Security

  • Gated Community

Home Details

Home Type

Single Family

Est. Annual Taxes

$6,202

Year Built

Built in 2003

Lot Details

0

HOA Fees

$148 per month

Listing Details

  • Property Sub Type: Single Family Residence
  • Prop. Type: Residential
  • Lot Size Acres: 0.86
  • Road Frontage Type: Private Road
  • Road Surface Type: Paved
  • Subdivision Name: The Farm At Banner Elk
  • Above Grade Finished Sq Ft: 2821.0
  • Architectural Style: Mountain
  • Garage Yn: Yes
  • Unit Levels: Three Or More
  • Building Stories: 3
  • Year Built: 2003
  • Property Sub Type Additional: Single Family Residence
  • Attribution Contact: (828) 260-2929
  • General Property Information Below Grade Unfinished Area: 1602.0
  • Special Features: VirtualTour
  • Stories: 3

Interior Features

  • Appliances: Dryer, Dishwasher, Exhaust Fan, Disposal, Gas Range, Washer
  • Has Basement: Crawl Space, Unfinished, Walk-Out Access
  • Basement YN: Yes
  • Full Bathrooms: 3
  • Half Bathrooms: 1
  • Total Bedrooms: 3
  • Fireplace Features: One, Propane
  • Fireplaces: 1
  • Fireplace: Yes
  • Interior Amenities: Vaulted Ceiling(s), Window Treatments
  • Living Area: 2821.0
  • Stories: 3
  • Window Features: Window Treatments

Exterior Features

  • Waterfront Features: Pond
  • Home Warranty: No
  • Construction Type: Stone, Wood Siding, Wood Frame
  • Foundation Details: Basement
  • Patio And Porch Features: Covered, Multiple, Open
  • Roof: Asphalt, Shingle

Garage/Parking

  • Attached Garage: Yes
  • Parking Features: Asphalt, Attached, Driveway, Garage

Utilities

  • Laundry Features: Main Level
  • Security: Security System
  • Cooling: Central Air
  • Cooling Y N: Yes
  • Heating: Forced Air, Fireplace(s), Propane
  • Heating Yn: Yes
  • Sewer: Septic Permit 3 Bedroom
  • Utilities: High Speed Internet Available
  • Water Source: Private, Well

Condo/Co-op/Association

  • Community Features: Gated, Long Term Rental Allowed, Short Term Rental Allowed
  • Association Fee: 1775.0
  • Association Fee Frequency: Annually
  • Association: Yes

Schools

  • Elementary School: Banner Elk
  • High School: Avery County

Lot Info

  • Parcel #: 1858-07-68-5758-00000
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Annual Amount: 6202.32
  • Tax Book Number: 528/2006
  • Tax Lot: 15

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 6, 2024
Closed on
Nov 11, 2024
Sold by
Laura M Levine Living Trust and Levine Laura M
Bought by
James Wyatt Freeman Revocable Trust and Davia Rufty Freeman Revocable Trust
Seller's Agent
Sarah Whitfield
Premier Sotheby's International Realty- Banner Elk
Buyer's Agent
Sarah Whitfield
Premier Sotheby's International Realty- Banner Elk
List Price
$1,290,000
Sold Price
$1,075,000
Premium/Discount to List
-$215,000
-16.67%
Views
161
Current Estimated Value
$1,104,305

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$29,305
Avg. Annual Appreciation
2.29%

Purchase Details

Closed on
Feb 15, 2019
Sold by
218 Linville Holding Company Llc
Bought by
Levine Laura M and Levine Alan M

Purchase Details

Closed on
Jan 1, 2018
Sold by
Accetturo Angelo and Accetturo Angela
Bought by
218 Linville Holding Company Llc

Purchase Details

Closed on
Jul 29, 2005
Sold by
Scott Curtis Construction Co Inc
Bought by
Accetturo Angelo and Accetturo Angela

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$600,000
Interest Rate
5.59%
Mortgage Type
Future Advance Clause Open End Mortgage
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
James Wyatt Freeman Revocable Trust $1,075,000 None Listed On Document
James Wyatt Freeman Revocable Trust $1,075,000 None Listed On Document
Levine Laura M $580,000 None Available
218 Linville Holding Company Llc -- None Available
Accetturo Angelo $600,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Accetturo Angelo $600,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/15/2024 11/15/24 Sold $1,075,000 -10.0% $381 / Sq Ft
09/05/2024 09/05/24 Price Changed $1,195,000 -7.4% $424 / Sq Ft
03/06/2024 03/06/24 For Sale $1,290,000 -- $457 / Sq Ft
Source: High Country Association of REALTORS®

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
2025 $2,885 $721,200 $100,000 $621,200
2024 $2,885 $721,200 $100,000 $621,200
2023 $2,885 $721,200 $100,000 $621,200
2022 $0 $721,200 $100,000 $621,200
2021 $3,317 $603,000 $105,000 $498,000
2020 $6,582 $593,000 $105,000 $488,000
2019 $6,582 $593,000 $105,000 $488,000
2017 $6,007 $531,600 $0 $0
2016 $2,377 $531,600 $0 $0
2015 $2,377 $531,600 $75,000 $456,600
2012 -- $655,200 $165,000 $490,200
Source: Public Records

Agents Affiliated with this Home

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Map

Source: High Country Association of REALTORS®

MLS Number: 248256

High Country Association of REALTORS®

APN: 18580768575800000