Luxury and Location in the Heart of Banner Elk
Now offered at $1,999,000, 140 Library Lane delivers flexible, refined mountain living in-town Banner Elk. The 4BR/3BA main residence is complemented by a separate 1BR/1BA fully furnished apartment over the garage—ideal for multi-generational living, guest accommodations, or rental income.
Set on 2.97 private, usable acres within town limits, this property offers the rare combination of privacy, convenience, and versatility—just minutes from Banner Elk’s dining, shopping, festivals, and Lees-McRae College.
Historic character meets modern comfort with original wood floors, solid wood doors, wide baseboards, and wormy chestnut trim, anchored by three impressive stone fireplaces (converted to natural gas) and a wood-burning stove. Contemporary upgrades include new appliances, updated siding and windows, a spacious new deck, two storage sheds, and a two-car garage wired for EV charging.
A large workshop/studio with 220v/45-amp service provides space for creative or professional pursuits. The park-like grounds invite exploration with stone porches and patios, a swing by the pond, blooming gardens, and rhododendron groves.
Zoned R-2, the property allows for accessory dwellings, home occupations, and more, with potential for commercial or institutional rezoning (subject to approval).
A rare opportunity to own nearly three acres of history, character, and versatility—right in the heart of Banner Elk.
For sale
Price cut: $201K (9/25)
$1,999,000
140 Library Lane, Banner Elk, NC 28604
4beds
3,723sqft
Est.:
Single Family Residence
Built in 1897
2.7 Acres Lot
$-- Zestimate®
$537/sqft
$-- HOA
What's special
Stone porches and patiosRhododendron grovesWide baseboardsOriginal wood floorsNearly three acresBlooming gardensSpacious new deck
- 162 days |
- 471 |
- 11 |
Zillow last checked: 8 hours ago
Listing updated: October 27, 2025 at 07:44am
Listed by:
Corrinne Loucks (828)386-6047,
828 Real Estate
Source: High Country AOR,MLS#: 256603
Originating MLS: High Country Association of Realtors Inc.
Originating MLS: High Country Association of Realtors Inc.Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 3
- Full bathrooms: 3
Heating
- Electric, Forced Air, Fireplace(s), Gas, Hot Water, Radiant Floor, Wood Stove
Cooling
- Central Air, Other, See Remarks, Zoned
Appliances
- Included: Dryer, Dishwasher, Electric Range, Electric Water Heater, Microwave Hood Fan, Microwave, Refrigerator, Washer
- Laundry: Washer Hookup, Dryer Hookup, Main Level
Features
- Attic
- Windows: Double Pane Windows, Wood Frames
- Basement: Interior Entry,Partial,Unfinished
- Attic: Floored
- Number of fireplaces: 3
- Fireplace features: Three, Stone, Vented, Gas
Interior area
- Total structure area: 4,107
- Total interior livable area: 3,723 sqft
- Finished area above ground: 3,723
- Finished area below ground: 0
Video & virtual tour
Property
Parking
- Total spaces: 2
- Parking features: Attached, Driveway, Garage, Two Car Garage, Gravel, Oversized, Private
- Attached garage spaces: 2
- Has uncovered spaces: Yes
Features
- Levels: Two
- Stories: 2
- Patio & porch: Covered, Multiple, Open, Patio, Stone
- Exterior features: Storage, Gravel Driveway
- Has view: Yes
- View description: Trees/Woods
Lot
- Size: 2.7 Acres
Details
- Additional structures: Guest House, Living Quarters, Shed(s)
- Parcel number: 18591700912000000
- Zoning description: R2
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Traditional
- Property subtype: Single Family Residence
Materials
- Vinyl Siding, Wood Frame
- Foundation: Basement
- Roof: Architectural,Shingle
Condition
- Year built: 1897
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Available, High Speed Internet Available
Community & HOA
Community
- Features: Long Term Rental Allowed, Short Term Rental Allowed
- Subdivision: None
HOA
- Has HOA: No
Location
- Region: Banner Elk
Financial & listing details
- Price per square foot: $537/sqft
- Tax assessed value: $527,500
- Annual tax amount: $4,563
- Date on market: 6/30/2025
- Listing terms: Cash,Conventional,New Loan
- Road surface type: Gravel, Paved
Estimated market value
Not available
Estimated sales range
Not available
$3,619/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 9/25/2025 | Price change | $1,999,000-9.1%$537/sqft |
Source:  High Country AOR #256603 Report a problem | ||
| 7/1/2025 | Listed for sale | $2,200,000$591/sqft |
Source: High Country AOR #256603 Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $2,110 | $527,500 |
| 2023 | $2,110 -53.5% | $527,500 |
| 2022 | $4,537 -1.4% | $527,500 +27.2% |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$11,334/mo
Principal & interest
$9951
Home insurance
$700
Property taxes
$683
Climate risks
Neighborhood: 28604
Nearby schools
GreatSchools rating
- 7/10Banner Elk Elementary SchoolGrades: PK-5Distance: 1.4 mi
- 5/10Cranberry Middle SchoolGrades: 6-8Distance: 5 mi
- 4/10Avery County High SchoolGrades: 9-12Distance: 6.9 mi
Schools provided by the listing agent
- Elementary: Banner Elk
- High: Avery County
Source: High Country AOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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