Last Sold Price
6 beds7,140 sqft$236/sqft
488 Farm Loop Rd, Banner Elk, NC 28604

Description

Back on the market!" OVERLOOK ESTATE" After spring cleaning and painting, looks brand new! Own this magnificently crafted "lodge" in The Farm. A proven $$ maker . Six figures annually . Though the pictures by CCR are fabulous, this is a must see property! Priced below appraisal and way below cost. A wonderful mountain home for your family or multiple families with three master suites, 6/5, with extra sleeping areas or weight room, wine room, bunk room. Loft with full bar and pool table,4 fireplaces,covered...Back on the market!" OVERLOOK ESTATE" After spring cleaning and painting, looks brand new! Own this magnificently crafted "lodge" in The Farm. A proven $$ 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!
LISTING CLOSED: 11/12/2020 12:00 AM

  1. Listed by Michael Donnell • Peak Real Estate Llc

Property Details for 488 Farm Loop Road

Status
MLS #
208065
Days on Market
175
Taxes
$19,000 / year
HOA Fees
$1,770 / year
Condo/Co-op Fees
-
Property Type
MLS Type
Residential / Single Family Residence
Year Built
2009
Lot Size
1.80 AC / 78,408 SF
Architectural Style
Mountain, Other
Parking Features
Attached, Garage, ThreeormoreSpaces
View
Yes
Subdivision Name
The Farm At Banner Elk
View
GolfCourse, LongRange, Mountains, Pasture, SkiArea
Zoning Description
Subdivision

Recent comparable sales

Median sold price

$1,750,000

Avg days on market

125

Sale-to-list ratio

87.9%

Banner Elk, NC

9 comparable properties found

a view of a big yard with table and chairs and wooden fence
1/51
1

$3,420,000

Sold 12/18/25

6
Bedrooms
7,095
Square Feet
9.12
Acres
$1,750,000 | 373 Laurel Ridge Lane, Unit 4, Banner Elk, NC 28604
1/51
2

$1,750,000

Sold 08/18/25

5
Bedrooms
4,667
Square Feet
0.11
Acres
a view of a house with a window
1/2
3

$1,750,000

Sold 10/06/25

3
Bedrooms
6,574
Square Feet
5.3
Acres
a picture of a floor plan
1/31
4

$964,000

Sold 04/23/25

6
Bedrooms
2,895
Square Feet
0.85
Acres
a front view of a house with a yard
1/41
5

$2,360,000

Sold 09/20/24

6
Bedrooms
5,434
Square Feet
5.14
Acres
an aerial view of a house with swimming pool and garden
1/49
6

$2,700,000

Sold 09/29/25

5
Bedrooms
3,979
Square Feet
1.16
Acres
7

$5,300,000

Sold 09/19/25

6
Bedrooms
6,632
Square Feet
6.07
Acres
8

$1,500,000

Sold 10/30/24

5
Bedrooms
6,196
Square Feet
Unavailable
Acres
9

$650,000

Sold 02/24/25

6
Bedrooms
4.5
Bathrooms
3,428
Square Feet
0.76
Acres

Location

Listing Courtesy of Peak Real Estate Llc

Sold By Premier Sotheby's International Realty- Banner Elk

Add your commute

Building Information for 488 Farm Loop Road

Stories2Year Built2009Building Size-Lot Size1.80 AC / 78,408 SF

Payment Calculator

$10,295 per month

30 year fixed, 6.55% Interest

Principal and Interest

$8,565

Property Taxes

$1,583

HOA Dues

$148

The Payment Calculator is for illustrative purposes only.

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Property Information for 488 Farm Loop Road

Summary
Location and General Information
  • Directions: LOCATED IN THE FARM in BANNER ELK. 184 TOWARD BANNER ELK,LEFT ON DOBBINS, ENTRANCE ON ON THE LEFT , EQUESTRIAN FACILITIES ON RIGHT.
  • Road Surface Type: Paved
  • Postal Code: 28604
  • Road Frontage Type: PrivateRoad
  • MLS Area Major: 8-Banner Elk
Taxes and HOA Information
  • Parcel Number: 185807690025
  • Association Fee: $1,770.00
  • Association Fee Frequency: Annually
  • Association Name: The Farm at Banner Elk
  • Association: Yes
  • Tax Annual Amount: $19,000
  • Tax Book Number: 401/1393
School Information
  • Elementary School: Avery
  • Elementary School District: Avery
  • High School District: Avery
  • Middle Or Junior School District: Avery
Parking
  • Attached Garage: Yes
  • Garage: Yes
Property
Lot Information
  • Above Grade Finished Area: 4405.0
  • Below Grade Finished Area: 2735.0
  • Lot Size Acres: 1.8
  • Lot Size Area: 1.8
  • Lot Size Units: Acres
  • Living Area: 7140.0
Property and Assessments
  • Year Built: 2009
  • Documents Available: RentRolls
  • Human Modified: No
Utilities
  • Electric: Generator
  • Sewer: SepticPermit5orMoreBedroom
  • Water Source: Public
Interior and Exterior Features
Exterior Features
  • Exterior Features: HorseFacilities, HotTubSpa
  • Fencing: Invisible
  • Spa: Yes
  • Construction Materials: Cedar, Frame, StoneVeneer, WoodSiding, WoodFrame
  • Patio And Porch Features: Multiple
  • Security Features: SecuritySystem
  • Spa Features: HotTub
  • Vegetation: PartiallyWooded
  • Roof: Architectural, Shingle
Interior Features
  • Levels: Two
  • Stories: 2
  • Stories Total: 2
  • Flooring: Carpet, Other, Wood
  • Basement: Yes
  • Basement: ExteriorEntry
  • Bathrooms Full: 5
  • Bathrooms Half: 0
  • Bathrooms Total: 5
  • Bedrooms Total: 6
  • Rooms Total: 3
  • Cooling: Yes
  • Cooling: CentralAir, Electric, Item3Units, Zoned
  • Heating: Yes
  • Heating: Electric, ForcedAir, Fireplaces, Gas, HotWater, Propane, RadiantFloor, Wood, Zoned
  • Furnished: Furnished
  • Fireplace: Yes
  • Fireplaces Total: 3
  • Fireplace Features: Three, Gas, Stone, WoodBurning, Outside, Propane
  • Laundry Features: WasherHookup, DryerHookup, MainLevel
  • Appliances: BuiltInOven, Dryer, Dishwasher, ExhaustFan, ElectricWaterHeater, GasCooktop, Disposal, MicrowaveHoodFan, Microwave, Refrigerator, WarmingDrawer, Washer
  • Interior Features: Attic, WetBar, CarbonMonoxideDetector, CathedralCeilings, Furnished, HotTubSpa, JettedTub
  • Window Features: DoublePaneWindows, Screens
Room Information
Room 1
  • Room Level: First
  • Room Type: GreatRoom
Room 2
  • Room Level: First
  • Room Type: DiningRoom
Room 3
  • Room Level: First
  • Room Type: MasterBedroom
Room 4
  • Room Level: First
  • Room Type: Bedroom
Room 5
  • Room Level: Basement
  • Room Type: LivingRoom
Room 6
  • Room Level: Basement
  • Room Type: MasterBedroom
Room 7
  • Room Level: Basement
  • Room Type: Bedroom
Room 8
  • Room Level: Second
  • Room Type: Loft
Room 9
  • Room Level: Second
  • Room Type: GameRoom
Room 10
  • Room Level: Second
  • Room Type: ExerciseRoom
Room 11
  • Room Level: Second
  • Room Type: Bedroom
Room 12
  • Room Level: First
  • Room Type: Laundry
Room 13
  • Room Level: First
  • Room Type: Kitchen
Room 14
  • Room Level: Basement
  • Room Type: FullBath
Room 15
  • Room Level: Second
  • Room Type: FullBath
Room 16
  • Room Level: First
  • Room Type: FullBath

Property History for 488 Farm Loop Road

DateEvent & SourcePriceAppreciation
Nov 12, 2020

Closed

High Country Association of REALTORS #208065

$1,685,000
Nov 5, 2020

Closed (Public Record)

Public Record #682526381

$3,370
Oct 8, 2020

Under Contract-No Show

High Country Association of REALTORS #208065

DateEvent & SourcePrice
11/12/2020

Closed

High Country Association of REALTORS #208065

$1,685,000
11/05/2020

Closed (Public Record)

Public Record #682526381

$3,370
10/08/2020

Under Contract-No Show

High Country Association of REALTORS #208065

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 488 Farm Loop Road

Taxable ValueLand$187,500Additions$1,530,700Total$1,718,200
Tax Record2025$14,776 ($1,231 / month)
Home Facts
Beds6Baths5.5Total Finished SqFt5,214 SqFtAbove Grade Finished SqFt5,214 SqFtStories2Lot Size79,279 SqFtStyleSingle Family ResidenceYear Built2007Year Renovated2008ZoningR1CountyAVERYAPN18580769002500000Fireplace TypeHas Fireplace

Schools near 488 Farm Loop Road

This home is within Avery County School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Banner Elk Elementary School
PublicPK to 5

Avery Middle
Public6 to 8

Avery County High School
Public9 to 12

Avery County High School STEM Academy
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Nearby home values

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 488 Farm Loop Road, Banner Elk, NC 28604
$1,685,000
6
7,140
78,408
$115,000
60,548
$115,000
4
5
4,031
60,548
$873,110
4
3,557
27,878
3
4.5
2,930
28,314
$135,000
45,302

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Peak Real Estate Llc

Based on information from one of the following Multiple Listing Services: Canopy MLS,High Country Association of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Canopy MLS,High Country Association of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.