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$1,999,000

  • For Sale
  • Active
  • Single Family
  • 4 Beds
  • 3 Full Baths
  • 4,107 Sq. Ft.
  • 2.7 Acres
  • 2 Car Garage
  • Updated 5 days ago
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140 Library Lane, Banner Elk, NCVideo Tour of 140 Library Lane, Banner Elk, NC.
Luxury, Land, and Location in the Heart of Banner Elk Now offered at $1,999,000, 140 Library Lane is an exceptional in-town estate offering historic charm, modern amenities, and nearly 3 private acres-all just steps from Lees-McRae College and the best of Banner Elk. Set on 2.97 usable in-town acres, this rare property combines walkability with privacy: stroll to Banner Elk's acclaimed dining, boutique shopping, summer concerts, Woolly Worm Festival, holiday events, greenway trails, and the college campus-yet enjoy the space and serenity of your own park-like retreat. The 4BR/3BA historic main home showcases original character including wood floors, solid wood doors, wide baseboards, wormy chestnut trim, and three stunning stone fireplaces (converted to natural gas), balanced with thoughtful updates throughout. Modern comforts include new appliances, updated siding and windows, and a spacious new deck overlooking the lower acreage-ideal for entertaining or taking in the wooded views. A separate 1BR/1BA fully furnished apartment above the garage offers incredible flexibility for guests, multi-generational living, or rental income. The oversized two-car garage includes an EV outlet, plus an attached workshop with 220v/45-amp service-perfect for woodworking, art, or professional use. Outdoors, the property feels like a private park with stone patios, covered porches, blooming gardens, rhododendron groves, a small pond with swing, and room to expand. Zoned R-2, the land allows for accessory dwellings, home occupations, and more, with possible commercial or institutional rezoning (subject to approval). A truly unique opportunity to own nearly 3 acres of history, character, and versatility right in the heart of Banner Elk and adjacent to Lees-McRae College-a combination seldom found in today's market.

Full Property Details for 140 Library Ln

General

  • Price: $1,999,000
  • Taxes: $4,563
  • Status: Active
  • Type: Single Family
  • Source: 2217
  • MLS ID: 256603
  • Updated: 1/11/2026
  • Added to Site: 201 day(s) ago

Interior

  • Interior Features: Attic
  • Fireplace: Yes
  • Number of Fireplaces: 3
  • Fireplace(s): Three, Stone, Vented, Gas
  • Appliances: Dryer, Dishwasher, Electric Range, Electric Water Heater, Microwave Hood Fan, Microwave, Refrigerator, Washer

Rooms

Bathrooms

  • Total Bathrooms: 3
  • Full Bathrooms: 3

Bedrooms

  • Total Bedrooms: 4

Other Rooms

  • Laundry: Washer Hookup, Dryer Hookup, Main Level

Exterior

  • Exterior Features: Storage, Gravel Driveway
  • Porch/Patio/Deck: Covered, Multiple, Open, Patio, Stone

Parking

  • Garage: Yes
  • Attached garage: Yes
  • Garage Spaces: 2
  • Parking Features: Attached, Driveway, Garage, Two Car Garage, Gravel, Oversized, Private

Location

  • Area: 8-Banner Elk
  • County: Avery
  • Subdivision: None

School Information

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

Community

  • Community Name: 8-Banner Elk

Heating & Cooling

  • Central air: Yes
  • Air Conditioning: Yes
  • Cooling Type: Central Air, Other, See Remarks, Zoned
  • Heating Type: Electric, Forced Air, Fireplace(s), Gas, Hot Water, Radiant Floor, Wood Stove

Utilities

  • Sewer: Public Sewer
  • Water: Public
  • Cable Available: Yes
  • Utility Description: Cable Available, High Speed Internet Available

Structural Information

  • Architectural Style: Traditional
  • Detached/Attached: Detached
  • Construction: Vinyl Siding, Wood Frame
  • Basement: Yes
  • Basement Desc.: Interior Entry, Partial, Unfinished
  • Roof: Architectural, Shingle
  • Windows: Double Pane Windows, Wood Frames
  • Stories/Levels: 2
  • Square Feet: 4,107
  • Living Area: 3,723 Sq. Ft.
  • Finished Total: 3,723 Sq. Ft.
  • Finished Above Grnd: 3,723 Sq. Ft.
  • Year Built: 1897

Additional Structures

  • Other Structures: Guest House, Living Quarters, Shed(s)

Lot Features

  • Property View: Trees/Woods
  • Lot Size (Acres): 2.7
  • Lot Size: 2.7
  • Frontage: Private Road, Gravel, Paved
  • Zoning: R2

Financial Considerations

  • Tax Amount: $4,563.57
  • Terms: Cash, Conventional, New Loan

Disclosures and Reports

  • Property ID: 1859-17-00-9120-00000

Listed by 828 Real Estate

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Listing agent

— 140 Library Ln —

  • 828 Real Estate

(828) 386-6047

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 140 Library Ln

School District:Avery County Schools
NameGradesDistance
Banner Elk Elementary School
155 Orchard Lane, Banner Elk, NC 28604
PK-51.3 mi
Cranberry Middle School
6230 North US Highway 19E, Elk Park, NC 28622
6-85 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 140 Library Ln Get Price Alerts and Save Property

Date
Details
Price
Change
Source
9/25/2025
Price Reduced
$1,999,000
-9.14%
MLS
6/30/2025
Listed
$2,200,000
—
MLS
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 140 Library Ln

Year
Property Taxes
Change
Tax Assessment
Change
2025
$3,842
-15%
$446,700
-15%
2024
$4,537
115%
$527,500
—
2023
$2,110
—
$527,500
—
2022
$2,119
-8%
$527,500
27%
2021
$2,295
-50%
$414,700
—
2019
$4,618
9%
$414,700
8%
2018
$4,243
-2%
$385,700
1%
2017
$4,329
153%
$383,100
—
2016
$1,713
—
$383,100
—
2015
$1,713
-14%
$383,100
—
2014
$1,996
12%
$383,100
-13%
2013
$1,784
—
$440,500
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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NMLS#: 1598647

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140 Library Lane, Banner Elk, NC 28604 (MLS# 256603) is a Single Family property with 4 bedrooms and 3 full bathrooms. 140 Library Lane is currently listed for $1,999,000 and was received on June 30, 2025. Want to learn more about 140 Library Lane? Do you have questions about finding other Single Family real estate for sale in Banner Elk? You can browse all Banner Elk real estate or contact a Coldwell Banker agent to request more information.

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