$582,000
UNDER CONTRACT

520 Penny Ln Unit 1B Banner Elk, NC 28604

Estimated payment $3,794/month

Total Views 1,582
2 Beds
2 Baths
1,573 Sq Ft
$370 Price per Sq Ft

Highlights

  • Mountain View
  • Mountain Architecture
  • Elevator
  • Banner Elk Elementary School Rated A-
  • Covered patio or porch
  • Tankless Water Heater

About This Home

Experience refined mountain living in this stunning level-entry, end-unit condo, perfectly situated just minutes from Banner Elk, Lees-McRae College, and the premier ski resorts of Beech and Sugar Mountain. Boasting superior soundproofing and high-end finishes throughout, this luxury 2 bedroom/2 bath residence offers both comfort and sophistication. Step into a spacious, open-concept layout featuring a gourmet kitchen with granite countertops, great for entertaining. Unwind in the primary ensuite, complete with a walk-in shower, and a custom walk-in closet with built-in shelving. Enjoy cozy evenings by the natural gas fireplace or dine al fresco with a built-in outdoor grill while soaking in breathtaking long-range views. Additional highlights include natural gas heating, 9-foot ceilings, elegant design details, and a 30-day minimum rental policy, offering flexibility for both homeowners and investors.Whether you're looking for a full-time residence, a second home, or a luxury rental opportunity, this exceptional property blends mountain charm with upscale living—truly a rare find in the High Country.

Listing Agent

James Condrey

Realty One Group Results-Boone Brokerage Phone: (828) 385-0841 Listed on: 04/11/2025

Realty One Group Results-Boone

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $3,929

Year Built

  • Built in 2018

HOA Fees

  • $225 Monthly HOA Fees

Home Design

  • Mountain Architecture
  • Slab Foundation
  • Wood Frame Construction
  • Shingle Roof
  • Asphalt Roof
  • Hardboard
  • Stone

Interior Spaces

  • 1,573 Sq Ft Home
  • 1-Story Property
  • Stone Fireplace
  • Gas Fireplace
  • Double Hung Windows
  • Mountain Views

Kitchen

  • Gas Range
  • Microwave
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 2 Full Bathrooms

Laundry

  • Laundry on main level
  • Dryer
  • Washer

Home Security

Parking

  • No Garage
  • Driveway

Outdoor Features

  • Covered patio or porch
  • Outdoor Grill

Schools

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

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Gas
  • Tankless Water Heater
  • Gas Water Heater
  • High Speed Internet

Listing and Financial Details

  • Assessor Parcel Number 1859130354120001102

Community Details

Overview

  • The Vistas Subdivision

Additional Features

  • Elevator
  • Carbon Monoxide Detectors

Property Details

Home Type

Condominium

Est. Annual Taxes

$3,929

Year Built

Built in 2018

Lot Details

0

HOA Fees

$225 per month

Listing Details

  • Property Sub Type: Condominium
  • Prop. Type: Residential
  • Road Surface Type: Paved
  • Subdivision Name: The Vistas
  • Above Grade Finished Sq Ft: 1573.0
  • Architectural Style: Mountain
  • Garage Yn: No
  • Unit Levels: One
  • Building Stories: 1
  • Year Built: 2018
  • Property Sub Type Additional: Condominium
  • Attribution Contact: (828) 385-0841
  • Special Features: UnderContract
  • Stories: 1

Interior Features

  • Appliances: Dryer, Dishwasher, Disposal, Gas Range, Gas Water Heater, Microwave, Refrigerator, Tankless Water Heater, Washer
  • Full Bathrooms: 2
  • Total Bedrooms: 2
  • Fireplace Features: One, Stone, Vented, Gas
  • Fireplaces: 1
  • Fireplace: Yes
  • Interior Amenities: Carbon Monoxide Detector
  • Living Area: 1573.0
  • Stories: 1
  • Window Features: Double Hung

Exterior Features

  • View: Long Range, Mountain(s)
  • View: Yes
  • Home Warranty: No
  • Construction Type: Hardboard, Stone, Wood Frame
  • Exterior Features: Elevator, Outdoor Grill
  • Foundation Details: Slab
  • Patio And Porch Features: Covered
  • Roof: Asphalt, Shingle

Garage/Parking

  • Parking Features: Asphalt, Driveway, No Garage

Utilities

  • Laundry Features: Main Level
  • Green Building Features: Elevator(s)
  • Cooling: Central Air
  • Cooling Y N: Yes
  • Heating: Forced Air, Fireplace(s), Gas
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Utilities: High Speed Internet Available
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Long Term Rental Allowed
  • Association Fee: 2697.0
  • Association Fee Frequency: Annually
  • Association: Yes

Schools

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

Lot Info

  • Parcel #: 1859130354120001102
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Annual Amount: 3929.0
  • Tax Book Number: 597/767

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/11/2025 04/11/25 For Sale $582,000 -- $370 / Sq Ft
Source: High Country Association of REALTORS®

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Source: High Country Association of REALTORS®

MLS Number: 254852

High Country Association of REALTORS®

North Carolina Avery County Banner Elk 28604

520 Penny Ln Unit 1B, Banner Elk, NC

This home is located at 520 Penny Ln Unit 1B, Banner Elk, NC 28604 and is currently priced at $582,000, approximately $369 per square foot. This property was built in 2018. 520 Penny Ln Unit 1B is a home located in Avery County with nearby schools including Banner Elk Elementary School and Avery Middle School.

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
James Condrey
Listing Agent
James Condrey
Section Image
Realty One Group Results-Boone
(828) 392-1742