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Now offered at $1,999,000, 140 Library Lane delivers flexible living in the heart of 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 space, or rental income.Set on 2.97 private acres in town, this property offers the rare combination of privacy, convenience, and versatility"”just minutes to restaurants, shopping, festivals, and Lees-McRae College. Historic details include original wood floors, solid wood doors, wide baseboards, and wormy chestnut trim, anchored by three grand stone fireplaces (converted to natural gas) and a wood-burning stove.Modern upgrades enhance the character: new appliances, updated siding and windows, a spacious new deck, two storage sheds, and a two-car garage wired for an EV. A large workshop/studio with 220v/45 amp service is perfect for creative or professional projects.The 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 3 acres of history, character, and versatility in the heart of Banner Elk.
| DAYS ON MARKET | 114 | LAST UPDATED | 9/25/2025 |
|---|---|---|---|
| TRACT | None | YEAR BUILT | 1897 |
| COMMUNITY | 8-Banner Elk | GARAGE SPACES | 2.0 |
| COUNTY | Avery | STATUS | Active |
| PROPERTY TYPE(S) | Single Family |
| Elementary School | Banner Elk |
|---|---|
| High School | Avery County |
| PRICE HISTORY | |
| Prior to Sep 25, '25 | $2,200,000 |
|---|---|
| Sep 25, '25 - Today | $1,999,000 |
| ADDITIONAL DETAILS | |
| AIR | Central Air, Other, Zoned |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dishwasher, Dryer, Electric Range, Electric Water Heater, Microwave, Refrigerator, Washer |
| AREA | 8-Banner Elk |
| BASEMENT | Interior Entry, Partial, Unfinished, Yes |
| CONSTRUCTION | Frame, Vinyl Siding, Wood Siding |
| EXTERIOR | Storage |
| FIREPLACE | Yes |
| GARAGE | Attached Garage, Yes |
| HEAT | Electric, Fireplace(s), Forced Air, Hot Water, Natural Gas, Radiant Floor, Wood Stove |
| INTERIOR | High Speed Internet |
| LOT | 2.7 acre(s) |
| PARKING | Gravel, Attached, Driveway, Garage, Oversized, Private |
| SEWER | Public Sewer |
| STORIES | 2 |
| STYLE | Traditional |
| SUBDIVISION | None |
| TAXES | 4563.57 |
| UTILITIES | Cable Available |
| VIEW | Yes |
| VIEW DESCRIPTION | Trees/Woods |
| WATER | Public |
| ZONING | R2 |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listing provided by Corrinne Loucks, 828 Real Estate, (828) 386-6047
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