NOT LISTED FOR SALE

488 Farm Loop Rd Banner Elk, NC 28604

Estimated Value: $1,671,000 - $2,990,000

6 Beds
5 Baths
7,140 Sq Ft
$331/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 $15,012/month

862 Days on Market

Highlights

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

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 Agent to Sell the Property

Michael Donnell

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

Last Buyer's Agent

Derek Rowley

Premier Sotheby's International Realty- Banner Elk

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
Current Estimated Value
$2,582,689

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$897,689
Avg. Annual Appreciation
7.45%

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
Source: Public Records

Range of Values:

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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
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

    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

    Section Image
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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

This home is located at 488 Farm Loop Rd, Banner Elk, NC 28604 since 03 June 2018 and is currently estimated at $2,364,145, approximately $331 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.

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