NOT LISTED FOR SALE

88 Summit Ledges Ln Banner Elk, NC 28604

Estimated Value: $1,487,000 - $1,742,839

3 Beds
4.5 Baths
4,020 Sq Ft
$403/Sq Ft Est. Value

Last Sold November 30, 2022

Last sale price $1,420,000 $353 Per Sq Ft

Est. 14% increase in value since last sale

Current estimated payment $9,293/month

Highlights

  • Airport or Runway
  • Golf Course Community
  • Fitness Center
  • Banner Elk Elementary School Rated A-
  • Equestrian Center
  • 24-Hour Security

About This Home

As of November 2022

MAJESTIC VISTAS Three bedroom plus bonus room, four and one-half bath home with two-car garage is ideally situated on a wooded, beautifully landscaped homesite with views unlike any other. Upon entry, the open living area flows from the great room with fireplace into the thoughtfully designed dining room, wet bar, spacious kitchen, and morning room. A grand primary suite and powder room complete the entry-level. Downstairs features a family room with rock fireplace, two bedroom suites, and a bonus room with bath. Enjoy tranquil mountain breezes from both open and covered decks on each level. Captivating Mountain Vistas. The Elk River Club is a luxurious community that encompasses 1200 acres of the Blue Ridge mountains. In addition to a Jack Nicklaus Signature golf course, members can enjoy the 50,000 square foot clubhouse, tennis, fitness, and equestrian centers plus an on-site private jetport. Imagine your mountain home and you will find it at Elk River. Property located within the Elk River Club subdivision with gated access.

Last Agent to Sell the Property

Richard Foster Ii

Elk River Realty Listed on: 08/17/2022

Co-Listed By

Kylie Clark

Elk River Realty

Last Buyer's Agent

Robert Meador II

Hyatt In The High Country, Inc.

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $3,653

Year Built

  • Built in 1995

Lot Details

  • 1.72 Acre Lot
  • Property fronts a private road

HOA Fees

  • $416 Monthly HOA Fees

Parking

  • 2 Car Attached Garage
  • Driveway

Property Views

  • Trees
  • Mountain

Home Design

  • Traditional Architecture
  • Wood Frame Construction
  • Shake Roof
  • Wood Roof
  • Wood Siding
  • Stone

Interior Spaces

  • 2-Story Property
  • Wet Bar
  • Tray Ceiling
  • Vaulted Ceiling
  • 2 Fireplaces
  • Stone Fireplace
  • Crawl Space
  • Home Security System
  • Attic

Kitchen

  • Built-In Oven
  • Gas Cooktop
  • Microwave
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 3 Bedrooms

Laundry

  • Laundry on main level
  • Washer and Dryer Hookup

Schools

  • Banner Elk Elementary School
  • Avery County High School

Utilities

  • Cooling Available
  • Forced Air Heating System
  • Heating System Uses Propane
  • Heat Pump System
  • Private Sewer

Additional Features

  • Covered Patio or Porch
  • Equestrian Center

Listing and Financial Details

  • Tax Lot 152
  • Assessor Parcel Number 1848-00-14-2164-00000

Community Details

Overview

  • Elk River Subdivision

Amenities

  • Airport or Runway
  • Clubhouse

Recreation

  • Golf Course Community
  • Tennis Courts
  • Pickleball Courts
  • Fitness Center
  • Community Pool

Security

  • 24-Hour Security
  • Gated Community

Home Details

Home Type

Single Family

Est. Annual Taxes

$3,653

Year Built

Built in 1995

Lot Details

0

HOA Fees

$416 per month

Parking

2

Listing Details

  • Property Sub Type: Single Family Residence
  • Prop. Type: Residential
  • Lot Size Acres: 1.72
  • Road Frontage Type: Private Road
  • Road Surface Type: Paved
  • Co List Office Mls Id: 464
  • Co List Office Phone: 828-898-9777
  • Subdivision Name: Elk River
  • Above Grade Finished Sq Ft: 2289.0
  • Architectural Style: Traditional
  • Garage Yn: Yes
  • Unit Levels: Two
  • Building Stories: 2
  • Year Built: 1995
  • Property Sub Type Additional: Single Family Residence
  • Special Features: VirtualTour
  • Stories: 2

Interior Features

  • Appliances: Built-In Oven, Dishwasher, Gas Cooktop, Disposal, Microwave, Refrigerator
  • Has Basement: Crawl Space
  • Full Bathrooms: 4
  • Half Bathrooms: 1
  • Total Bedrooms: 3
  • Below Grade Sq Ft: 1731.0
  • Fireplace Features: Two, Stone
  • Fireplaces: 2
  • Fireplace: Yes
  • Interior Amenities: Attic, Wet Bar, Tray Ceiling(s), Vaulted Ceiling(s)
  • Living Area: 4020.0
  • Stories: 2

Exterior Features

  • Pool Features: Community
  • View: Long Range, Mountain(s), Trees/Woods
  • View: Yes
  • Home Warranty: No
  • Construction Type: Stone, Wood Siding, Wood Frame
  • Exterior Features: Other, See Remarks, Paved Driveway
  • Patio And Porch Features: Covered, Multiple, Open
  • Roof: Shake, Wood

Garage/Parking

  • Attached Garage: Yes
  • Garage Spaces: 2.0
  • Parking Features: Attached, Driveway, Garage, Two Car Garage, Paved, Private

Utilities

  • Laundry Features: Washer Hookup, Dryer Hookup, Main Level
  • Security: Security System, 24 Hour Security
  • Cooling: Heat Pump
  • Cooling Y N: Yes
  • Heating: Forced Air, Propane
  • Heating Yn: Yes
  • Sewer: Private Sewer, Septic Permit 3 Bedroom
  • Water Source: Community/Coop

Condo/Co-op/Association

  • Community Features: Clubhouse, Equestrian Community, Fitness Center, Golf, Gated, Pickleball, Pool, Airport/Runway, Tennis Court(s)
  • Association Fee: 4996.0
  • Association Fee Frequency: Annually
  • Association: Yes

Schools

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

Lot Info

  • Parcel #: 1848-00-14-2164-00000
  • Zoning Description: Residential
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Annual Amount: 3652.8
  • Tax Book Number: 505/132
  • Tax Lot: 152

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 17, 2022
Closed on
Nov 21, 2022
Sold by
Walter J Gatti Trust
Bought by
Farah Edward and Farah Rosemary
Seller's Agent
Richard Foster Ii
Elk River Realty
Buyer's Agent
Robert Meador II
Hyatt In The High Country, Inc.
List Price
$1,695,000
Sold Price
$1,420,000
Premium/Discount to List
-$275,000
-16.22%
Current Estimated Value
$1,621,710

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$201,710
Avg. Annual Appreciation
4.72%

Purchase Details

Closed on
Oct 31, 2016
Sold by
Gatti Walter J and Gatti Dorothea
Bought by
Gatti Walter J and Walter J Gatti Trust
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
Farah Edward $1,420,000 --
Gatti Walter J -- None Available
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/30/2022 11/30/22 Sold $1,420,000 -16.2% $353 / Sq Ft
08/17/2022 08/17/22 For Sale $1,695,000 -- $422 / 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 $3,653 $916,700 $275,000 $641,700
2023 $3,653 $913,200 $275,000 $638,200
2022 $3,653 $913,200 $275,000 $638,200
2021 $4,985 $906,300 $300,000 $606,300
2020 $4,985 $906,300 $300,000 $606,300
2019 $4,985 $906,300 $300,000 $606,300
2018 $4,985 $906,300 $300,000 $606,300
2017 $5,384 $978,900 $0 $0
2016 $4,378 $978,900 $0 $0
2015 $4,378 $978,900 $300,000 $678,900
2012 -- $958,000 $400,000 $558,000
Source: Public Records

Agents Affiliated with this Home

  • Richard Foster Ii

    Seller's Agent in 2022

    Richard Foster Ii

    Elk River Realty

    (828) 898-9777

    80 in this area

    82 Total Sales

    Richard Foster Ii
    Section Image
  • Kylie Clark

    Seller Co-Listing Agent in 2022

    Kylie Clark

    Elk River Realty

    (828) 387-0222

    81 in this area

    81 Total Sales

    Kylie Clark
    Section Image
  • Robert Meador II

    Buyer's Agent in 2022

    Robert Meador II

    Hyatt In The High Country, Inc.

    (305) 662-4766

    3 in this area

    4 Total Sales

    Robert Meador II
    Section Image
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Map

Source: High Country Association of REALTORS®

MLS Number: 239338

High Country Association of REALTORS®

APN: 1848-00-14-2164-00000

North Carolina Avery County Banner Elk 28604

88 Summit Ledges Ln, Banner Elk, NC

This home is located at 88 Summit Ledges Ln, Banner Elk, NC 28604 since 17 August 2022 and is currently estimated at $1,621,710, approximately $403 per square foot. This property was built in 1995. 88 Summit Ledges Ln is a home located in Avery County with nearby schools including Banner Elk Elementary School, Cranberry Middle School, and Avery County High 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.

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