NOT LISTED FOR SALE

488 Farm Loop Rd Banner Elk, NC 28604

Estimated Value: $2,261,578 - $3,044,000

6 Beds
5 Baths
7,140 Sq Ft
$360/Sq Ft Est. Value

Last Sold November 12, 2020

Last sale price $1,685,000 $236 Per Sq Ft

Est. 53% increase in value since last sale

Current estimated payment $15,017/month

862 Days on Market

Highlights

  • Views of Ski Resort
  • Horse Facilities
  • Partially Wooded Lot
  • Banner Elk Elementary School Rated A-
  • Spa
  • Radiant Floor

About This Home

As of November 2020

BACK ON THE MARKET!!!"OVERLOOK ESTATE" After spring cleaning and painting, looks brand new! Own this magnificently crafted "lodge" in The Farm. A proven $$ maker . Six figures annually . Though the pictures by CCR are fabulous, this is a must see property! Priced below appraisal and way below cost. A wonderful mountain home for your family or multiple families with three master suites, 6/5, with extra sleeping areas or weight room, wine room, bunk room. Loft with full bar and pool table,4 fireplaces,covered outdoor living area with two sided fireplace and Jacuzzi spa with big view of Grandfather and the valley below.
Post and Beam construction with log accents, a Grand multi-antlered chandelier in the huge Great Room with a double flued large stone fireplace, and an all Open floor plan make this The place for family gatherings and entertaining.
3+ car garage , level entry at 4000' elevation,generator and wired for security, but never needed in Banner Elk!!

Last Listed By

Michael Donnell

Peak Real Estate Llc Listed on: 06/03/2018

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $19,000

Year Built

  • Built in 2009

Lot Details

  • 1.8 Acre Lot
  • Property fronts a private road
  • Property has an invisible fence for dogs
  • Partially Wooded Lot
  • Zoning described as Subdivision

HOA Fees

  • $148 Monthly HOA Fees

Parking

  • 3 Car Attached Garage

Property Views

  • Ski Resort
  • Golf Course
  • Pasture
  • Mountain

Home Design

  • Mountain Architecture
  • Wood Frame Construction
  • Frame Construction
  • Shingle Roof
  • Architectural Shingle Roof
  • Wood Siding
  • Stone Veneer
  • Cedar

Interior Spaces

  • 2-Story Property
  • Wet Bar
  • Furnished
  • Cathedral Ceiling
  • 3 Fireplaces
  • Wood Burning Fireplace
  • Stone Fireplace
  • Gas Fireplace
  • Propane Fireplace
  • Double Pane Windows
  • Window Screens
  • Radiant Floor
  • Basement
  • Exterior Basement Entry
  • Attic

Kitchen

  • Built-In Oven
  • Gas Cooktop
  • Recirculated Exhaust Fan
  • Warming Drawer
  • Microwave
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 5 Full Bathrooms
  • Secondary Bathroom Jetted Tub

Laundry

  • Laundry on main level
  • Dryer
  • Washer

Home Security

  • Home Security System
  • Carbon Monoxide Detectors

Outdoor Features

  • Spa
  • Outdoor Fireplace
  • Porch

Schools

  • Avery Elementary School

Utilities

  • Forced Air Zoned Heating and Cooling System
  • Heating System Uses Gas
  • Heating System Uses Propane
  • Heating System Uses Wood
  • Hot Water Heating System
  • Power Generator
  • Electric Water Heater

Listing and Financial Details

  • Assessor Parcel Number 185807690025

Community Details

Overview

  • The Farm At Banner Elk Subdivision

Recreation

  • Horse Facilities

Home Details

Home Type

Single Family

Est. Annual Taxes

$19,000

Year Built

Built in 2009

Lot Details

0

HOA Fees

$148 per month

Listing Details

  • Property Sub Type: Single Family Residence
  • Prop. Type: Residential
  • Lot Size Acres: 1.8
  • Road Frontage Type: Private Road
  • Road Surface Type: Paved
  • Subdivision Name: The Farm At Banner Elk
  • Above Grade Finished Sq Ft: 4405.0
  • Architectural Style: Mountain, Other
  • Garage Yn: Yes
  • Unit Levels: Two
  • Building Stories: 2
  • Year Built: 2009
  • Property Sub Type Additional: Single Family Residence
  • Special Features: None
  • Stories: 2

Interior Features

  • Spa Features: Hot Tub
  • Private Spa: Yes
  • Appliances: Built-In Oven, Dryer, Dishwasher, Exhaust Fan, Electric Water Heater, Gas Cooktop, Disposal, Microwave Hood Fan, Microwave, Refrigerator, Warming Drawer, Washer
  • Has Basement: Exterior Entry
  • Basement YN: Yes
  • Full Bathrooms: 5
  • Total Bedrooms: 6
  • Below Grade Sq Ft: 2735.0
  • Fireplace Features: Three, Gas, Stone, Wood Burning, Outside, Propane
  • Fireplaces: 3
  • Fireplace: Yes
  • Interior Amenities: Attic, Wet Bar, Carbon Monoxide Detector, Cathedral Ceiling(s), Furnished, Hot Tub/Spa, Jetted Tub
  • Living Area: 7140.0
  • Stories: 2
  • Window Features: Double Pane Windows, Screens

Exterior Features

  • Fencing: Invisible
  • View: Golf Course, Long Range, Mountain(s), Pasture, Ski Area
  • View: Yes
  • Home Warranty: No
  • Construction Type: Cedar, Frame, Stone Veneer, Wood Siding, Wood Frame
  • Exterior Features: Horse Facilities, Hot Tub/Spa
  • Patio And Porch Features: Multiple
  • Roof: Architectural, Shingle

Garage/Parking

  • Attached Garage: Yes
  • Parking Features: Attached, Garage, Three or more Spaces

Utilities

  • Laundry Features: Washer Hookup, Dryer Hookup, Main Level
  • Security: Security System
  • Cooling: Central Air, Electric, 3+ Units, Zoned
  • Cooling Y N: Yes
  • Heating: Electric, Forced Air, Fireplace(s), Gas, Hot Water, Propane, Radiant Floor, Wood, Zoned
  • Heating Yn: Yes
  • Electric: Generator
  • Sewer: Septic Permit 5 or More Bedroom
  • Water Source: Public

Condo/Co-op/Association

  • Association Fee: 1770.0
  • Association Fee Frequency: Annually
  • Association: Yes

Schools

  • Elementary School: Avery

Lot Info

  • Parcel #: 185807690025
  • Zoning Description: Subdivision
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Annual Amount: 19000.0
  • Tax Book Number: 401/1393

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 3, 2018
Closed on
Nov 5, 2020
Sold by
Donnell Michael G and Donnell Susan L
Bought by
Pinncale Properties Of Lake Norman Llc
Seller's Agent
Michael Donnell
Peak Real Estate Llc
Buyer's Agent
Derek Rowley
Premier Sotheby's International Realty- Banner Elk
List Price
$1,685,000
Sold Price
$1,685,000
Total Days on Market
862
Current Estimated Value
$2,573,645

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$888,645
Avg. Annual Appreciation
10.66%

Purchase Details

Closed on
Dec 27, 2012
Sold by
Guilliams Ronald C and Guilliams Tamara R
Bought by
Donnell Michael G and Donnell Susan L

Purchase Details

Closed on
Apr 13, 2006
Sold by
Horsebottom Ridge Llc
Bought by
Donnell Michael G and Donnell Susan L

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Similar Homes in Banner Elk, NC

  • 504 Fox Run Rd, Banner Elk, NC 28604

    $1,950,000

    • 4 Beds
    • 4 Baths
    • 4,030 Sq Ft
    • 504 Fox Run Rd
    • Banner Elk, NC

    Welcome to Fox Summit Lodge, where sunrises and sunsets stretch across panoramic views from Grandfather Mountain to Mount Mitchell. Tucked inside the gated community of Fox Run Estates, between Banner Elk and Beech Mountain, this custom-built mountain retreat has been extensively renovated. Designed for comfort and style, this home offers five sleeping areas (four-bedroom septic), four baths and

    Jessica Auten Premier Sotheby's International Realty- Banner Elk

    Section Image
  • 201 Fox Run Rd, Banner Elk, NC 28604

    $1,900,000

    • 4 Beds
    • 4 Baths
    • 2,751 Sq Ft
    • 201 Fox Run Rd
    • Banner Elk, NC

    Long-range 180-degree PANORAMIC MOUNTAIN VIEW retreat with over 2,600SF of outdoor living! Experience both sunrises & sunsets in this Southern exposure home located in the Fox Run Estates community, nestled between the picturesque town of Banner Elk and family-fun Beech Mountain. This home comes FULLY FURNISHED to allow for a seamless transition for its new owners or for an opportunity for a

    Megan Knipper Keller Williams High Country

    Section Image
  • 373 Laurel Ridge Ln Unit 4, Banner Elk, NC 28604

    $1,950,000

    • 5 Beds
    • 5 Baths
    • 4,667 Sq Ft
    • 373 Laurel Ridge Ln
    • Unit 4
    • Banner Elk, NC

    Mountain Oasis in Desirable Laurel Village Location.This charming cottage in Laurel Village offers the best of both worlds: the spaciousness of a single-family home with the convenience of condo living. Featuring a two-story floor plan with 5 bedrooms and 5 bathrooms, a grand living room featuring a cathedral ceiling and a stunning rock fireplace. Custom kitchen perfect for any chef,

    Richard Foster Ii Elk River Realty

    Section Image
  • 45 Dunvegan Rd, Banner Elk, NC 28604

    $2,750,000

    • 4 Beds
    • 6.5 Baths
    • 7,414 Sq Ft
    • 45 Dunvegan Rd
    • Banner Elk, NC

    Just below awe-inspiring Dunvegan Peak, this exceptional estate, offering over 7,400 square feet of living space, boasts views of Sugar Mountain and Grandfather Mountain. The home’s gracious layout and upscale finishes are thoughtfully designed to support multi-generational living. Go into the expansive great room where vaulted ceilings, warm wood details and a floor-to-ceiling stone fireplace

    Maurice Williams Premier Sotheby's Int'l Realty

    Section Image
  • 5529 Eagles Nest Trail, Banner Elk, NC 28604

    $2,750,000

    • 4 Beds
    • 4.5 Baths
    • 4,017 Sq Ft
    • 5529 Eagles Nest Trail
    • Banner Elk, NC

    Located in the highly sought-after community of The Lodges at Eagles Nest, this new construction 4,016 sq. ft. modern mountain retreat offers 4 bedrooms, an oversized bunkroom, and 4.5 baths, blending luxurious living with thoughtful design. This three-story home boasts a sleek, contemporary aesthetic, featuring natural stone and rich wood accents that harmonize beautifully with the forested

    Jonathan Koshy Ivester Jackson Distinctive Properties

    Section Image
  • 221 Bear Rock Trail, Banner Elk, NC 28604

    $2,199,990

    • 4 Beds
    • 4.5 Baths
    • 3,140 Sq Ft
    • 221 Bear Rock Trail
    • Banner Elk, NC

    Welcome to Grin & Bear It Lodge, a stunning masterpiece nestled in the highly sought after Lodges at Eagles Nest community. Boasting breathtaking long-range sunset views, this brand-new custom-built home offers a luxurious mountain living experience like no other.Situated just minutes away from the Great Camp area, residents of Grin & Bear It Lodge have access to a host of top-notch amenities

    Allison Schoen Eagles Nest Realty LLC

    Section Image
  • 719 Eagle Springs Trail, Banner Elk, NC 28604

    $1,875,000

    • 4 Beds
    • 5 Baths
    • 3,125 Sq Ft
    • 719 Eagle Springs Trail
    • Banner Elk, NC

    Welcome to "Little Creek Lodge" Only 15 minutes to the Beech Mountain ski area with quick access from the springs gate of Eagles Nest. Situated 5 minutes from Camp Eagles Nest, a large amenity area including Pickleball, Tennis, Basketball, Climbing Tower, Zipline and a stocked pond. This is truly a place to relax on the 2.7 acres of beautiful forest or start the party with a game room that has a

    Allison Schoen Eagles Nest Realty LLC

    Section Image
See All Homes in Banner Elk

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
Pinncale Properties Of Lake Norman Llc $1,685,000 None Available
Donnell Michael G $200,000 None Available
Donnell Michael G $229,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Donnell Michael G $625,000
Previous Owner Donnell Michael G $1,854,919
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/12/2020 11/12/20 Sold $1,685,000 0.0% $236 / Sq Ft
10/13/2020 10/13/20 Pending -- -- --
06/03/2018 06/03/18 For Sale $1,685,000 -- $236 / 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
2023 $7,201 $1,700,400 $187,500 $1,512,900
2022 $7,201 $1,700,400 $187,500 $1,512,900
2021 $9,651 $1,665,900 $185,000 $1,480,900
2020 $18,980 $1,665,900 $185,000 $1,480,900
2019 $18,980 $1,665,900 $185,000 $1,480,900
2018 $9,700 $1,665,900 $185,000 $1,480,900
2017 $16,026 $1,418,200 $0 $0
2016 $6,342 $1,418,200 $0 $0
2015 $6,342 $1,418,200 $100,000 $1,318,200
2012 -- $1,835,800 $215,000 $1,620,800
Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2020

    Michael Donnell

    Peak Real Estate Llc

    (828) 260-6000

    Section Image

  • D

    Buyer's Agent in 2020

    Derek Rowley

    Premier Sotheby's International Realty- Banner Elk

    (910) 620-2978

    33 in this area

    53 Total Sales

    Derek Rowley
    Section Image
See All Agents

Map

Source: High Country Association of REALTORS®

MLS Number: 208065

High Country Association of REALTORS®

APN: 1858-07-69-0025-00000

North Carolina Avery County Banner Elk 28604

488 Farm Loop Rd, Banner Elk, NC

Homes for Sale in Banner Elk, NC

This home is located at 488 Farm Loop Rd, Banner Elk, NC 28604 since 03 June 2018 and is currently estimated at $2,573,645, approximately $360 per square foot. This property was built in 2009. 488 Farm Loop Rd 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.

Nearby Homes