173 Old Turnpike NW Road, Banner Elk, NC 28604 (MLS # 256809)

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PRICE $475,000 dsIDX morgage calculator
BEDS 5
BATHS 3
HOME SIZE 1,875 sqft
LOT SIZE 11,326 sqft

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.

DAYS ON MARKET 1 LAST UPDATED 7/9/2025
TRACT None YEAR BUILT 1984
COMMUNITY 8-Banner Elk GARAGE SPACES 1.0
COUNTY Avery STATUS Active
PROPERTY TYPE(S) Single Family

SCHOOLS
Elementary School Banner Elk
High School Avery County


ADDITIONAL DETAILS
AIR Wall/Window Unit(s)
AIR CONDITIONING Yes
APPLIANCES Dishwasher, Dryer, Electric Range, Electric Water Heater, Exhaust Fan, Microwave, Refrigerator, Washer
AREA 8-Banner Elk
BASEMENT Finished, Partially Finished, Yes
CONSTRUCTION Frame, Wood Siding
EXTERIOR Storage
GARAGE Yes
HEAT Baseboard, Electric, Exhaust Fan
INTERIOR High Speed Internet
LOT 0.26 acre(s)
PARKING Paved, Asphalt, Driveway, Garage, Private
SEWER Public Sewer
STORIES 2
STYLE Cottage, Traditional
SUBDIVISION None
TAXES 1255
UTILITIES Cable Available
VIEW Yes
VIEW DESCRIPTION Mountain(s), Pasture
WATER Public
ZONING Residential
MORTGAGE CALCULATOR
   

TOTAL MONTHLY PAYMENT

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CONTACT US ABOUT 173 OLD TURNPIKE NW ROAD
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Listing provided by Benjamin Ray, Client First Of The High Country, (704) 287-2760

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