NOT LISTED FOR SALE

120 Summit Park Dr Banner Elk, NC 28604

Estimated Value: $439,000 - $13,943,196

5 Beds
8 Baths
13,446 Sq Ft
$535/Sq Ft Est. Value

Last Sold November 22, 2024

Last sale price $15,850,000 $1,179 Per Sq Ft

Current estimated payment $42,931/month

70 Days on Market

Highlights

  • Airport or Runway
  • Golf Course Community
  • Fitness Center
  • Banner Elk Elementary School Rated A-
  • Equestrian Center
  • 24-Hour Security

About This Home

As of November 2024

Discover the pinnacle of mountain living in this architectural masterpiece! This magnificently crafted marvel is on 7.64 private, landscaped acres within the gates of Elk River. Designed with architectural brilliance and unparalleled craftsmanship. The expansive great room showcases stunning wood and stone elements, soaring ceilings, and a complete bar for entertaining overlooking the dining area with a detailed fireplace. The gourmet kitchen features top-tier appliances custom cabinetry, and opens to a generous screened porch perfect for outdoor living. Retreat to the primary suite with its spa-like bath, including a waterfall shower and soaking tub with views. The home offers two offices, a library, a theater, a personal gym, and two elevators for ultimate convenience. The custom wine cellar with leaded glass is a wine lover's dream. The beautifully landscaped grounds create a serene, private retreat. This estate is a perfect blend of elegance and comfort, offering a truly lavish lifestyle. Not one inch was overlooked! In addition to a Jack Nicklaus signature golf course, Elk River Club members can enjoy the 50,000-square-foot clubhouse, tennis, fitness, and equestrian centers, plus an onsite jetport.

Last Listed By

Rob Garrett

Premier Sotheby's Int'l Realty Brokerage Phone: (828) 773-1491 Listed on: 09/13/2024

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $28,049

Year Built

  • Built in 2008

Lot Details

  • 7.64 Acre Lot
  • Property fronts a private road

HOA Fees

  • $458 Monthly HOA Fees

Home Design

  • Radon Mitigation System
  • Masonry
  • Stone

Interior Spaces

  • 3-Story Property
  • Wet Bar
  • Cathedral Ceiling
  • 3 Fireplaces
  • Stone Fireplace
  • Gas Fireplace
  • Propane Fireplace
  • Double Pane Windows
  • Home Theater
  • Radiant Floor
  • Mountain Views
  • Home Security System

Kitchen

  • Gas Range
  • Recirculated Exhaust Fan
  • Warming Drawer
  • Microwave
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 5 Bedrooms

Laundry

  • Laundry on main level
  • Dryer
  • Washer

Unfinished Basement

  • Walk-Out Basement
  • Crawl Space

Parking

  • 3 Car Attached Garage
  • Driveway

Outdoor Features

  • Covered patio or porch
  • Outdoor Fireplace
  • Outdoor Storage

Schools

  • Banner Elk Elementary School
  • Avery County High School

Horse Facilities and Amenities

  • Equestrian Center

Utilities

  • Forced Air Zoned Heating and Cooling System
  • Heating System Uses Propane
  • Heat Pump System
  • Power Generator
  • Private Water Source
  • Gas Water Heater
  • High Speed Internet

Listing and Financial Details

  • Long Term Rental Allowed
  • Tax Lot 1
  • Assessor Parcel Number 1848-00-02-6428-00000

Community Details

Overview

  • Private Membership Available
  • Elk River Subdivision

Amenities

  • Airport or Runway
  • Clubhouse
  • Elevator

Recreation

  • Golf Course Community
  • Fitness Center
  • Community Pool

Security

  • 24-Hour Security
  • Gated Community

Home Details

Home Type

Single Family

Est. Annual Taxes

$28,049

Year Built

Built in 2008

Lot Details

0

HOA Fees

$458 per month

Listing Details

  • Property Sub Type: Single Family Residence
  • Prop. Type: Residential
  • Lot Size Acres: 7.64
  • Road Frontage Type: Private Road
  • Road Surface Type: Paved
  • Co List Office Mls Id: 274
  • Co List Office Phone: (828) 295-0776
  • Subdivision Name: Elk River
  • Above Grade Finished Sq Ft: 13446.0
  • Architectural Style: Other, See Remarks
  • Garage Yn: Yes
  • Unit Levels: Three Or More
  • Building Stories: 3
  • Year Built: 2008
  • Property Sub Type Additional: Single Family Residence
  • Attribution Contact: (828) 773-1491
  • General Property Information Below Grade Unfinished Area: 2851.0
  • Special Features: VirtualTour
  • Stories: 3

Interior Features

  • Appliances: Dryer, Dishwasher, Exhaust Fan, Disposal, Gas Range, Gas Water Heater, Microwave, Other, Refrigerator, See Remarks, Warming Drawer, Washer
  • Has Basement: Crawl Space, Unfinished, Walk-Out Access
  • Basement YN: Yes
  • Full Bathrooms: 6
  • Half Bathrooms: 2
  • Total Bedrooms: 5
  • Fireplace Features: Three, Gas, Other, See Remarks, Stone, Vented, Outside, Propane
  • Fireplaces: 3
  • Fireplace: Yes
  • Interior Amenities: Wet Bar, Cathedral Ceiling(s), Elevator, Home Theater
  • Living Area: 13446.0
  • Stories: 3
  • Window Features: Double Pane Windows

Exterior Features

  • Pool Features: Community
  • View: Long Range, Mountain(s)
  • View: Yes
  • Home Warranty: No
  • Construction Type: Masonry, Stone
  • Exterior Features: Elevator, Storage, Paved Driveway
  • Foundation Details: Basement
  • Patio And Porch Features: Covered, Multiple, Screened
  • Roof: Other, See Remarks

Garage/Parking

  • Attached Garage: Yes
  • Parking Features: Attached, Driveway, Garage, Oversized, Paved, Private, Three or more Spaces

Utilities

  • Laundry Features: Main Level, Upper Level
  • Security: Security System, 24 Hour Security, Radon Mitigation System
  • Green Building Features: Elevator(s)
  • Cooling: Central Air, Heat Pump, 3+ Units, Zoned
  • Cooling Y N: Yes
  • Heating: Electric, Forced Air, Fireplace(s), Heat Pump, Propane, Radiant Floor, Zoned
  • Heating Yn: Yes
  • Electric: Generator
  • Sewer: Community/Coop Sewer
  • Utilities: High Speed Internet Available
  • Water Source: Community/Coop, Private

Condo/Co-op/Association

  • Community Features: Club Membership Available, Clubhouse, Equestrian Community, Fitness Center, Golf, Gated, Pool, Airport/Runway, Long Term Rental Allowed
  • Association Fee: 5496.0
  • Association Fee Frequency: Annually
  • Association: Yes

Schools

  • Elementary School: Banner Elk
  • High School: Avery County

Lot Info

  • Parcel #: 1848-00-02-6428-00000
  • Zoning Description: Residential
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Annual Amount: 28049.21
  • Tax Book Number: 508/335
  • Tax Lot: 1

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 13, 2024
Closed on
Nov 18, 2024
Sold by
Rouse Management Trust and Rouse Thomas M
Bought by
Queen Arthurs Court Llc
Seller's Agent
Rob Garrett
Premier Sotheby's Int'l Realty
Buyer's Agent
Chad Vincent
Berkshire Hathaway HomeServices Vincent Properties
List Price
$14,000,000
Sold Price
$15,850,000
Premium/Discount to List
$1,850,000
13.21%
Total Days on Market
70
Views
133
Current Estimated Value
$7,191,098

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$8,658,902
Avg. Annual Appreciation
-87.35%

Purchase Details

Closed on
Mar 1, 2015
Sold by
Rouse Thomas M and Rouse Sandra Kay
Bought by
Rouse Thomas M and Rouse Sandra K

Purchase Details

Closed on
May 25, 2007
Sold by
Drendel Frank M and Drendel Marilyn B
Bought by
Rouse Thomas M and Rouse Sandra K

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Queen Arthurs Court Llc $14,850,000 None Listed On Document
Rouse Thomas M -- None Available
Rouse Thomas M $1,250,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Rouse Thomas M $6,000,000
Previous Owner Rouse Thomas M $6,000,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/22/2024 11/22/24 Sold $15,850,000 +13.2% $1,179 / Sq Ft
09/13/2024 09/13/24 For Sale $14,000,000 -- $1,041 / Sq Ft
Source: High Country Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2023 $28,049 $7,012,300 $1,068,800 $5,943,500
2022 $28,049 $7,012,300 $1,068,800 $5,943,500
2021 $38,194 $6,944,400 $700,000 $6,244,400
2020 $38,194 $6,944,400 $700,000 $6,244,400
2019 $38,194 $6,944,400 $700,000 $6,244,400
2018 $38,194 $6,944,400 $700,000 $6,244,400
2017 $37,102 $6,745,800 $0 $0
2016 $30,167 $6,745,800 $0 $0
2015 $30,167 $6,745,800 $700,000 $6,045,800
2012 -- $8,482,600 $800,000 $7,682,600
Source: Public Records

Agents Affiliated with this Home

  • Rob Garrett

    Seller's Agent in 2024

    Rob Garrett

    Premier Sotheby's Int'l Realty

    (828) 773-1491

    141 Total Sales

    Rob Garrett
    Section Image

  • G

    Seller Co-Listing Agent in 2024

    Gwen Steele

    Premier Sotheby's Int'l Realty

    (828) 773-4529

    141 Total Sales

    Gwen Steele
    Section Image
  • Chad Vincent

    Buyer's Agent in 2024

    Chad Vincent

    Berkshire Hathaway HomeServices Vincent Properties

    (828) 268-1986

    258 Total Sales

    Chad Vincent
    Section Image
  • Jay Vincent

    Buyer Co-Listing Agent in 2024

    Jay Vincent

    Berkshire Hathaway HomeServices Vincent Properties

    (828) 295-0707

    273 Total Sales

    Jay Vincent
    Section Image
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Map

Source: High Country Association of REALTORS®

MLS Number: 251869

High Country Association of REALTORS®

APN: 1848-00-02-6428-00000

North Carolina Avery County Banner Elk 28604

120 Summit Park Dr, Banner Elk, NC

Homes for Sale in Banner Elk, NC

This home is located at 120 Summit Park Dr, Banner Elk, NC 28604 since 13 September 2024 and is currently estimated at $7,191,098, approximately $534 per square foot. This property was built in 2008. 120 Summit Park Dr is a home with nearby schools including Banner Elk Elementary School, Cranberry Middle School, and Grandfather Academy.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

High Country Association of REALTORS® IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.