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DAVID GARNER

davidgarner31@yahoo.com +1(704) 239-3792

$ 475,000

Est. payment -/mo

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Active

173 Old Turnpike NW RD Banner Elk, NC 28604

5 Beds

3 Baths

1,875 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 1,875 sqft

Price per Sqft $253

MLS Listing ID 256809

Style Cottage,Traditional

Bedrooms 5

Full Baths 3

HOA Y/N No

Abv Grd Liv Area 1,875

Year Built 1984

Annual Tax Amount $1,255

Lot Size 0.260 Acres

Acres 0.26

Property Sub-Type Single Family Residence

Property Description

Rare Opportunity!! Only listing like this in downtown Banner Elk; Set as a duplex (but could be used as a single family with a rental income apartment, or with the stairs from the main level down to the workshop/garage, it could easily be finished out as a 5/3 home with an extra living/kitchen below) that is walking distance to town!!! At $37,200/ most recent annual rents, why get into the vacation rental market and it's headaches? It's very rare for any multi-family to come on the market in Downtown Banner Elk on city water/sewer/maintained-paved roads, and this investment has been a great asset for 11 years to the current owner. Easily accessible with paved driveway, and fully remodeled when purchased, including metal roof, paint, new kitchens, new baths, new plumbing, new windows, lvp flooring, etc, the duplex features a 2/1 below, and a 3/2 above, with separate entrances/decks. The basement features a 1-car garage and large workshop area (this is set up to be assessed by either unit, depending on which wants to include it in their lease). There is a small flat yard around the lower unit. Old Turnpike runs next to a noisy creek, and is a quiet, flat street that is great for walking. Available for showings now (lower tenants lease ends 7/31/25. Tenants pay all utilities 50/50 between the units; with power on 1 meter. Currently advertised with Blue Ridge Management for rent at $2200/month upper, $1400/ lower, so a potential 40k/yr income stream.

Location

State NC

County Avery

Community Long Term Rental Allowed, Short Term Rental Allowed

Area 8-Banner Elk

Rooms

Basement Finished, Partially Finished

Interior

Heating Baseboard, Electric

Cooling Wall/Window Unit(s)

Fireplaces Type None

Fireplace No

Appliance Dryer, Dishwasher, Exhaust Fan, Electric Range, Electric Water Heater, Microwave, Refrigerator, Washer

Laundry Main Level, Upper Level

Exterior

Exterior Feature Storage, Paved Driveway

Parking Features Asphalt, Driveway, Garage, One Car Garage, Paved, Private

Garage Spaces 1.0

Garage Description 1.0

Community Features Long Term Rental Allowed, Short Term Rental Allowed

Utilities Available Cable Available, High Speed Internet Available

View Y/N Yes

Water Access Desc Public

View Mountain(s), Pasture

Roof Type Metal

Porch Covered, Multiple, Open

Building

Story 2

Entry Level Two

Foundation Basement

Sewer Public Sewer

Water Public

Architectural Style Cottage, Traditional

Level or Stories Two

Additional Building Guest House

Schools

Elementary Schools Banner Elk

High Schools Avery County

Others

Tax ID 1859-17-00-1602-00000

Acceptable Financing Cash, Conventional, New Loan

Listing Terms Cash, Conventional, New Loan

Listed by Client First Of The High Country

DAVID GARNER

+1(704) 239-3792

DAVID GARNER

173 Old Turnpike NW RD Banner Elk, NC 28604

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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