NOT LISTED FOR SALE

407 Main St E Unit 28604 Banner Elk, NC 28604

Estimated Value: $377,000 - $1,182,000

6 Beds
4.5 Baths
2,698 Sq Ft
$337/Sq Ft Est. Value

Last Sold February 16, 2024

Last sale price $338,000 $125 Per Sq Ft

Est. 169% increase in value since last sale

Current estimated payment $4,921/month

46 Days on Market

Highlights

  • Traditional Architecture
  • Attic
  • No HOA
  • Banner Elk Elementary School Rated A-
  • 1 Fireplace
  • 3-minute walk to Robbins Sunset Park

About This Home

As of February 2024

Waiting to be restored to grandeur and glory! Beautiful 1912 two story with finished attic and unfinished basement. Formerly the main building of The Banner Elk Inn. Primary suite (on main level) appears to be an addition; oversized tub in room with water closet (counted as half bath in room count). Additional bedroom on main. Old fashioned living room/parlor with adjacent porch. Gorgeous upstairs with four large bedrooms, three full baths. Finished attic ceiling height does not meet requirements to be counted in heated area. Attic has 2 bedrooms with half bath; one of the attic bedrooms has a tub in the bedroom. Old house charm throughout. Extensive landscaping with fountain in front. Zoned for residential, small business or mixed use. No short term rental allowed. This is a Fannie Mae HomePath property. DISCLOSURE: We have been told this home has a structural issue but we have no reports or knowledge other than having been told it exists. We highly recommend a survey; unsure how much of the parking lot is included on the parcel.

Last Agent to Sell the Property

Lisa Holmes

Blue Ridge Realty & Inv. Blowing Rock Brokerage Phone: (828) 295-7777 Listed on: 12/11/2023

Last Buyer's Agent

Josh Honeycutt

Howard Hanna Allen Tate Realto

Howard Hanna Allen Tate Realto

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $2,001

Year Built

  • Built in 1912

Lot Details

  • 0.37

Parking

  • No Garage

Home Design

  • Traditional Architecture
  • Wood Frame Construction
  • Shingle Roof
  • Architectural Shingle Roof
  • Wood Siding

Interior Spaces

  • 2,698 Sq Ft Home
  • 2-Story Property
  • 1 Fireplace
  • Unfinished Basement
  • Laundry in Basement
  • Washer Hookup
  • Attic

Kitchen

  • Electric Range
  • Dishwasher

Bedrooms and Bathrooms

  • 6 Bedrooms

Schools

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

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heating Available

Additional Features

  • Covered Patio or Porch
  • 0.37 Acre Lot

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Assessor Parcel Number 1859-18-31-8136-00000

Home Details

Home Type

Single Family

Est. Annual Taxes

$2,001

Year Built

Built in 1912

Lot Details

0

Listing Details

  • Property Sub Type: Single Family Residence
  • Prop. Type: Residential
  • Lot Size Acres: 0.37
  • Road Surface Type: Paved
  • Subdivision Name: None
  • Above Grade Finished Sq Ft: 2698.0
  • Architectural Style: Traditional
  • Garage Yn: No
  • Unit Levels: Two
  • Building Stories: 2
  • Year Built: 1912
  • Property Sub Type Additional: Single Family Residence
  • Attribution Contact: (828) 295-7777
  • Special Features: 1028
  • Stories: 2

Interior Features

  • Appliances: Dishwasher, Electric Range, Other, Refrigerator, See Remarks
  • Has Basement: Unfinished
  • Basement YN: Yes
  • Full Bathrooms: 4
  • Half Bathrooms: 1
  • Total Bedrooms: 6
  • Fireplace Features: One
  • Fireplaces: 1
  • Fireplace: Yes
  • Interior Amenities: Attic, See Remarks
  • Living Area: 2698.0
  • Stories: 2

Exterior Features

  • Home Warranty: No
  • Construction Type: Wood Siding, Wood Frame
  • Exterior Features: Other, See Remarks
  • Foundation Details: Basement
  • Patio And Porch Features: Covered
  • Roof: Architectural, Shingle

Garage/Parking

  • Parking Features: No Garage, Other, See Remarks

Utilities

  • Laundry Features: Washer Hookup, In Basement
  • Cooling: Wall/Window Unit(s)
  • Cooling Y N: Yes
  • Heating: Electric
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No

Schools

  • Elementary School: Banner Elk
  • High School: Avery County
  • Middle Or Junior School: Avery

Lot Info

  • Parcel #: 1859-18-31-8136-00000
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Annual Amount: 2001.23
  • Tax Book Number: 589/2453

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
May 20, 2025
Sold by
Redeem Contracting Llc
Bought by
Kinder Properties Llc
Current Estimated Value
$909,927

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$650,000
Outstanding Balance
$647,694
Interest Rate
6.64%
Mortgage Type
Construction
Estimated Equity
$262,233

Purchase Details

Listed on
Dec 11, 2023
Closed on
Feb 15, 2024
Sold by
Federal National Mortgage Assn
Bought by
Redeem Contracting Llc
Seller's Agent
Lisa Holmes
Blue Ridge Realty & Inv. Blowing Rock
Buyer's Agent
Josh Honeycutt
Howard Hanna Allen Tate Realto
List Price
$338,000
Sold Price
$338,000
Views
171

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
84.28%
Original Mortgage
$440,000
Interest Rate
6.62%
Mortgage Type
Construction

Purchase Details

Closed on
Jun 29, 2023
Sold by
Mortgage Assets Management Llc
Bought by
Federal National Mortgage Association

Purchase Details

Closed on
Jun 20, 2023
Sold by
Cape Fear Trustee Services Llc
Bought by
Mortgage Assets Management Llc
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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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
Kinder Properties Llc -- None Listed On Document
Kinder Properties Llc -- None Listed On Document
Redeem Contracting Llc -- None Listed On Document
Redeem Contracting Llc -- None Listed On Document
Federal National Mortgage Association -- None Listed On Document
Mortgage Assets Management Llc $357,000 None Listed On Document
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Kinder Properties Llc $650,000
Closed Kinder Properties Llc $650,000
Previous Owner Redeem Contracting Llc $440,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/16/2024 02/16/24 Sold $338,000 0.0% $125 / Sq Ft
01/30/2024 01/30/24 Pending -- -- --
01/12/2024 01/12/24 For Sale $338,000 0.0% $125 / Sq Ft
01/03/2024 01/03/24 Pending -- -- --
12/14/2023 12/14/23 For Sale $338,000 -- $125 / Sq Ft
Source: High Country Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

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 $931 $232,700 $80,600 $152,100
2023 $2,001 $232,700 $80,600 $152,100
2022 $931 $232,700 $80,600 $152,100
2021 $1,153 $209,600 $80,600 $129,000
2020 $2,327 $209,600 $80,600 $129,000
2019 $2,327 $209,600 $80,600 $129,000
2018 $1,153 $209,600 $80,600 $129,000
2017 $2,344 $207,400 $0 $0
2016 $927 $207,400 $0 $0
2015 $927 $207,400 $80,600 $126,800
2012 -- $310,300 $128,900 $181,400
Source: Public Records

Agents Affiliated with this Home

  • Lisa Holmes

    Seller's Agent in 2024

    Lisa Holmes

    Blue Ridge Realty & Inv. Blowing Rock

    (704) 408-8764

    3 in this area

    17 Total Sales

    Lisa Holmes
    Section Image
  • Josh Honeycutt

    Buyer's Agent in 2024

    Josh Honeycutt

    Howard Hanna Allen Tate Realto

    (828) 268-6100

    4 in this area

    62 Total Sales

    Josh Honeycutt
    Section Image
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Map

Source: High Country Association of REALTORS®

MLS Number: 247173

High Country Association of REALTORS®

APN: 1859-18-31-8136-00000

North Carolina Avery County Banner Elk 28604

407 Main St E Unit 28604, Banner Elk, NC

This home is located at 407 Main St E Unit 28604, Banner Elk, NC 28604 since 11 December 2023 and is currently estimated at $909,927, approximately $337 per square foot. This property was built in 1912. 407 Main St E Unit 28604 is a home located in Avery County with nearby schools including Banner Elk Elementary School, Avery Middle School, and Grandfather Academy.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

High Country Association of REALTORS® 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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