Date
Details
Price
Change
Source
12/06/2025
Listed
$315,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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1/29
$315,000
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Property Description
Charming and updated, this two bedroom cottage is ready for new owners. The one level living with storage below could be a year-round or seasonal residence for you. The living room and kitchen area feels open and bright with abundant natural light flowing through the space and classic, cabin style cabinetry and counters. There is a front covered porch overlooking the front yard and gardens and a side open 10x10 sun deck and potting shed. The open level lot features an established garden area, rose garden and fire-pit area with impressive rock retaining wall. This property captures the essence of outdoor living in the mountains. This private location is only 15 minutes to downtown Brevard, less than 5 minutes to world class trout rivers on East Fork and downtown Rosman only a few miles away. The cell phone reception is two bars with Verizon and the internet speed is 82 Mbps down and 32Mbps upload, more than enough for streaming and working remotely. The home does have central heat and air with a back up propane heater that works even if the power is out. In the summer, the wooded lot offers a shaded canopy keeping you cool and in winter the sunlight pours in with southern exposure. Under the house is room to store your toys and is where the HVAC system is located. If you are looking for entry level mountain living and want a home that is move-in ready in this price range, take a serious look at what this property offers. No HOA or dues in the Rainbow Lake community.
Full Property Details
Full Property Details for 361 Rainbow Lake Dr
General
- Price: $315,000
- Status: Active
- Type: Single Family
- Source: Charlotte_Regional_Realtor_Association
- MLS ID: 4327446
- Updated: 12/6/2025
- Added to Site: 41 day(s) ago
Interior
- Appliances: Oven, Refrigerator
- Flooring: Wood
Rooms
Bathrooms
- Total Bathrooms: 1
- Full Bathrooms: 1
- Main - Full Baths: 1
Bedrooms
- Total Bedrooms: 2
- Bedrooms Main & Up: 2
Other Rooms
- Laundry: Other - See Remarks
Exterior
- Exterior Features: Fire Pit
Parking
- Parking Features: Circular Driveway
Location
- County: Transylvania
- Subdivision: Rainbow Lake
- Driving Directions: From downtown Brevard, take the Rosman Hwy (64) west towards Rosman, take a left on Island Ford Road to Right on Walnut Hollow Rd, travel 3.7 miles to left on Rainbow Lake Drive across from the church, take the second right, you will see an arrow sign that has the numbers '300-800', this is a single lane road with two-way traffic, travel slowly, house on the right, sign in yard.
School Information
- Elementary School: Brevard
- Middle School: Brevard
- High School: Brevard
Heating & Cooling
- Cooling Type: Central Air
- Heating Type: Forced Air
Utilities
- Sewer: Septic Installed
- Water: Well
- Utility Description: Electricity Connected, Propane
Structural Information
- Architectural Style: Cottage
- Construction Status: Completed
- Construction: Site Built
- Exterior Const.: Wood
- Roof: Metal
- Main/1st Level: 1,108 Sq. Ft.
- Year Built: 1963
Lot Features
- Street/Road Desc.: Gravel
- Elevation (Approx.): 2000
- Lot Features: Corner Lot, Wooded
- Rcmdd Zoning: None
Horse Property
- Horse Facility Desc.: None
Financial Considerations
- Terms: Cash, Conventional
Disclosures and Reports
- Restrictions: No Representation
- Property ID: 8572-44-2528-000
- Lot Number: 234-551
Listed by White Squirrel Realty
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Listing agent
— 361 Rainbow Lake Dr —
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Schools
Schools serving 361 Rainbow Lake Dr
School District:Transylvania County Schools
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 361 Rainbow Lake Dr
Tax History
Tax History for 361 Rainbow Lake Dr
Year
Property Taxes
Change
Tax Assessment
Change
2025
$676
49%
$140,620
104%
2023
$454
1%
$69,030
—
2021
$451
-1%
$69,030
—
2022
$454
1%
$69,030
15%
2021
$451
9%
$59,960
—
2019
$414
16%
$59,960
—
2018
$356
1%
$59,960
—
2017
$352
1%
$59,960
—
2016
$347
4%
$59,960
-7%
2015
$334
5%
$64,700
—
2013
$318
—
$64,700
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 361 Rainbow Lake Dr
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361 Rainbow Lake Drive, Brevard, NC 28712 (MLS# 4327446) is a Single Family property with 2 bedrooms and 1 full bathroom. 361 Rainbow Lake Drive is currently listed for $315,000 and was received on December 06, 2025. Want to learn more about 361 Rainbow Lake Drive? Do you have questions about finding other Single Family real estate for sale in Brevard? You can browse all Brevard real estate or contact a Coldwell Banker agent to request more information.