132 Heather Lane
Banner Elk, NC, 28604 $ 630,000
Bedrooms5 Baths3.1 Sq 2,337 Monthly Estimate*
$ 4,351
for $630,000 with 5 bedrooms and 3 full baths, 1 half bath. This 2,337 square foot home was built in 2006 on a lot size of 0.95.
Located approx a mile from the Town of Banner Elk, this charming mountain cottage sits in the highly sought-after Highlands community and offers proven income-producing potential as a high-performing short-term rental for the past three years. This fully furnished 5-bedroom, 3.5-bath Cape Cod-style home rests on nearly one acre (.95) and features a spacious open floor plan designed for comfort and entertaining. The main level includes a fully equipped kitchen, large dining area accommodating all guests at one table, and a bright living room filled with windows. A main-level bedroom with attached full bath and double closets provides convenient single-level living. Two decks on the main floor—one off the dining area and one off the living room—extend the living space outdoors. Upstairs features two bedrooms, including the primary suite with full bath, closet, and dormer seating with built-in storage. An additional bedroom offers a half bath, closet, and dormer bench/storage. The finished walkout basement adds two more bedrooms, a full bath, stackable laundry, and a converted one-car garage now serving as a game room with arcade games and movie space. Two separate basement entrances provide excellent functionality. The hot tub conveys and remains a favorite amenity for guests. This home appraised $10,000 above list price and generated $72,000 in rental income in 2024 despite significant fourth-quarter cancellations due to Hurricane Helene, projecting revenue potential near $100,000 annually. 2025 performance has remained strong, even with substantial owner use during peak summer months. P&L's are included in the attachments. Ideal as a turnkey investment property, second home, or full-time mountain retreat—minutes to dining, shopping, skiing, and year-round recreation.
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FeaturesGeneralSewer Public Sewer
Utilities Cable Available High Speed Internet Available
Property SubType Single Family Residence
Community Features Long Term Rental Allowed Short Term Rental Allowed
County Avery
Property Type Residential
Home Owner Assoc false
Subdivision Name The Highlands
Garage Y/N false
Status Active Under Contract
City Banner Elk
Zoning Description R1
Lot Size Units Acres
Tax Annual Amount 1358.02
Home Warranty Y/N false
Standard Status Active Under Contract
Property Sub Type Additional Single Family Residence
Heating Forced Air Propane
Cooling None
Roof Asphalt Shingle
Appliances Dryer Dishwasher Electric Water Heater Gas Cooktop Disposal Microwave Refrigerator Washer
Architectural Style Cape Cod Modular/Prefab
Construction Materials Hardboard Modular/Prefab Wood Frame
Year Built 2006
Stories 3
Levels Three Or More
Full Baths 3
High School Avery County
Elementary School Banner Elk
View Seasonal View Trees/Woods
MLS Area 8-Banner Elk
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InteriorBasement (Y/N) true
Air Conditioning Y/N false
Heating Y/N true
Fireplace Y/N false
Interior Features Carbon Monoxide Detector Furnished
Half Baths 1
Total Bedrooms 5
Total Baths 4
Basement Full Finished Walk-Out Access
Laundry Features Upper Level
Fireplace Features None
Total Stories 3
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ExteriorWater Source Public
Lot Size Area 0.95
Spa true
Lot Size Acres 0.95
Road Surface Type Paved
Exterior Features Hot Tub/Spa Gravel Driveway
Foundation Details Basement
Building Area Total 2337
Parking Features Driveway Gravel No Garage Private
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* Excluded FeaturesList Bymikepocisk@gmail.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $4,351
- Monthly Property Taxes
- $113
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbySingle family listings in Banner Elk, NC
Average List Price $2,212,968
Percent of Sale Price 251%
About Banner Elk, NC 902 Population
25% Since 2002
$ 51,966 Median Income
33.26 Median Age
18% Households with Children
Trends Information provided by ATTOM Data Solutions.
4062214 Elementary School
4062210 Middle School
Avery County High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 4/4/2026 | $630,000 | -1.56% | Price Down |
| 3/25/2026 | $640,000 | -1.54% | Price Down |
| 3/4/2026 | $650,000 | | Listed Price |