Sold
Last Sold Price
2 beds1,972 sqft
505 Banner Rd SW, Banner Elk, NC 28604
Single FamilyProperty Type
2.18 acresLot Size
1956Year Built
$352/sq ftPrice per sq ft

Description

What a surprise when you enter this cottage overlooking the Historic Mill Pond. Located in town on a very private 2.183 acres, w/ plenty of room to build a 2nd cottage. Located w/in walking distance to Lees McRae, town park, eateries and a short drive to Sugar or Beech Mnt. The cottage was remodeled in 2008 and in 2016-2020 there were additional updates, all w/ detailed craftsmanship. The main level has a separate foyer & half bath, nice size living room and large master suite w/fireplace, private...What a surprise when you enter this cottage overlooking the Historic Mill Pond. Located in town on a very private 2.183 acres, w/ plenty of room to build a 2nd cottage. Located w/in walking distance to Lees McRae, town park, eateries and a short drive to Sugar or Beech Mnt. The cottage was remodeled in 2008 and in 2016-2020 there were additional updates, all w/ detailed craftsmanship. The main level has a separate foyer & half bath, nice size living room and large master suite w/fireplace, private master bath, laundry & private deck. The kitchen, dining & sitting area are the heart of the home and is spacious w/vaulted ceilings, fireplace and natural light The living room and large kitchen area both overlook the Mill Pond. This level entry home has beautiful hardwood floors throughout. Downstairs there is a large living area with butlers kitchen, second bedroom and full bath with an optional 2nd laundry area and private entrance. On the road level there is great storage for bikes, ski gear and yard tools. The Mill Pond is the heart of Banner Elk and flows into the Elk River. One of most unique property due to its location. Furnishings Negotiable Home on 1.49 Acre available MLS 232865
  • Listed by: Susan Brown • Susan Brown Realty
Listing closed: 10/07/2021 12:00 AM • Source: High Country Association of REALTORS, MLS#: 231609

Recent comparable sales

Median sold price

$650,000

Avg days on market

81

Sale-to-list ratio

94.6%

Banner Elk, NC

9 comparable properties found

$583,000 | 405 Snowridge Road, Banner Elk, NC 28604
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1

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a view of a chairs and table on the green field
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$819,000 | 470 Banner Grande Lane, Banner Elk, NC 28604
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$599,000 | 26 Treetop Lane, Banner Elk, NC 28604
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a front view of a house with a garden
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7

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Sold 07/09/25

3
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a front view of a house with yard and green space
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8

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a backyard of a house with table and chairs
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9

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Sold 04/08/25

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Bedrooms
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Square Feet
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Acres

Location

Listing Courtesy of Susan Brown Realty

Sold By Engel & Volkers Banner Elk

Add your commute

Payment Calculator

$3,853 per month

30 year fixed, 6.71% Interest

Principal and Interest

$3,591

Property Taxes

$261

HOA Dues

$0

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Property Information for 505 Banner Road Southwest

Property Details
  • Taxes: $3,134 / year
  • MLS Type: Residential / Single Family Residence
  • County: Avery County
  • Architectural Style: Cottage
  • Waterfront Features: RiverAccess, Pond
  • Parking Features: Basement, Driveway, Garage, Gravel, Private
  • View: Yes
  • Subdivision Name: None
  • View: Lake, Mountains, River, SouthernExposure
  • Zoning Description: R-2
Building Information
  • Stories: 2
  • Year Built: 1956
  • Lot Size: 2.18 AC / 95,091 SF
Summary
Location and General Information
  • Directions: Downtown Banner Elk to Central Way. At the Post Office, turn left onto Banner Road and follow to the Mill Pond. Home on left, look for sign
  • Road Surface Type: Paved
  • Postal Code: 28604
  • Road Responsibility: PublicMaintainedRoad
  • MLS Area Major: 8-Banner Elk
Taxes and HOA Information
  • Parcel Number: 1858-05-28-2897-00000
  • Additional Parcels Description: 1858-06-28-5884
  • Association: No
  • Tax Annual Amount: $3,134
  • Tax Book Number: 475/1605
  • Tax Legal Description: PLAT 42-83
School Information
  • Elementary School: Banner Elk
  • High School: Avery County
Parking
  • Garage: Yes
Property
Lot Information
  • Above Grade Finished Area: 1267.0
  • Below Grade Finished Area: 705.0
  • Lot Size Acres: 2.183
  • Lot Size Area: 2.183
  • Lot Size Units: Acres
  • Living Area: 1972.0
Property and Assessments
  • Other Structures: LivingQuarters
  • Year Built: 1956
  • Documents Available: LeadBasedPaintDisclosure, Plat, Survey
  • Human Modified: No
Utilities
  • Sewer: PublicSewer
  • Utilities: HighSpeedInternetAvailable
  • Water Source: Public
Interior and Exterior Features
Exterior Features
  • Exterior Features: Storage, GravelDriveway
  • Community Features: Fishing, River, TrailsPaths, ShortTermRentalAllowed
  • Construction Materials: Stone, WoodSiding, WoodFrame
  • Patio And Porch Features: Multiple, Open
  • Roof: Metal
Interior Features
  • Levels: Two
  • Stories: 2
  • Stories Total: 2
  • Flooring: Carpet, CeramicTile, Wood
  • Basement: Yes
  • Basement: ExteriorEntry, InteriorEntry
  • Bathrooms Full: 2
  • Bathrooms Half: 1
  • Bathrooms Total: 3
  • Bedrooms Total: 2
  • Rooms Total: 2
  • Cooling: Yes
  • Cooling: CentralAir
  • Heating: Yes
  • Heating: ForcedAir, Fireplaces, Gas, RadiantFloor
  • Fireplace: Yes
  • Fireplaces Total: 2
  • Fireplace Features: Two, Gas
  • Laundry Features: MainLevel
  • Appliances: Dryer, Dishwasher, ElectricRange, ElectricWaterHeater, Disposal, Microwave, Refrigerator, Washer
  • Interior Features: VaultedCeilings, WindowTreatments
  • Window Features: WindowTreatments

Property History for 505 Banner Road Southwest

DateEvent & SourcePriceAppreciation
Oct 7, 2021

Closed

High Country Association of REALTORS #231609

$695,000
Oct 7, 2021

Withdrawn

High Country Association of REALTORS #232865

$629,900
Oct 1, 2021

Closed (Public Record)

Public Record #1473731712

$695,000

+11.8% / yr

DateEvent & SourcePrice
10/07/2021

Closed

High Country Association of REALTORS #231609

$695,000
10/07/2021

Withdrawn

High Country Association of REALTORS #232865

$629,900
10/01/2021

Closed (Public Record)

Public Record #1473731712

$695,000

+11.8% / yr

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

Public Records for 505 Banner Road Southwest

Taxable ValueLand$112,100Additions$455,500Total$567,600
Tax Record2025$4,881 ($407 / month)
Home Facts
Beds2Baths2Total Finished SqFt2,644 SqFtAbove Grade Finished SqFt2,284 SqFtFinished Basement SqFt360 SqFtStories1Lot Size64,904 SqFtStyleSingle Family ResidenceYear Built1965Year Renovated2020ZoningR2CountyAVERYAPN18580528289700000Fireplace TypeHas Fireplace

Schools near 505 Banner Road Southwest

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

Cranberry Middle School
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

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. Subject to change at any time. Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties make no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Susan Brown Realty

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.