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$520,000

Beds
2
Baths
2.0
sq ft
1,394

274 Hemlock Rd, Banner Elk, NC 28604

274 Hemlock Rd

Banner Elk, NC 28604

  • 74 days on market
THE HOME IS RENTED THROUGH NOVEMBER TO DISASTER RELIEF WORKERS WORKING IN THE AREA. Nestled in the picturesque Foscoe area of Banner Elk, this charming mountain retreat known as Baby Bear Cabin offers the perfect blend of rustic elegance and modern comfort. Recently renovated, this charming log cabin promises an authentic escape to nature. Located on a serene wooded lot, just minutes away from skiing, hiking, Grandfather Vineyard, and all the other amenities the High Country has to offer. Highlighted features include Two bedrooms, two baths, an adorable loft with custom built-ins, a secondary family room complemented by a custom bunk room featuring four built-in log pole beds, tongue and groove ceiling, unique interior touches such as live edge countertops and a river rock backsplash add to the rustic charm and ambiance of this amazing cabin. Four decks beckon you to enjoy the outdoors. You can sit back and relax to the backdrop of the woods and seasonal mountain views, offering a serene setting amidst the trees and natural surroundings. There is ample parking on two levels, including handicap ramps for accessibility. Community amenities within the Mill Ridge POA include a seasonal swimming pool, clubhouse, tennis courts, as well as community hiking trails and expansive outdoor entertaining areas for large gatherings of family and friends. In addition, lot # 51C PIN 1878-967094-000 is included in the sale. Baby Bear Cabin has been a successful short-term rental for three consecutive years. The property is being offered fully furnished/turn-key (minus a few personal items) for the new lucky owner of this personal haven and an investment opportunity located in the highly sought-after mountain community of Mill Ridge. Don't miss this opportunity to own your piece of mountain paradise. Schedule a showing today and start living the mountain lifestyle you've always dreamed of.

Details

Property type

Single Family Residence

Est. home value

$400,091

Lot size

4,792 sq ft

Price per sq ft

$374

Year built

1984

Annual property taxes

$1,219

Monthly HOA fee

$165

Price History

11/04/2024
HighCountry

HighCountry #251879

Listed
$520,000
10/14/2024
HighCountry

HighCountry #251879

Removed
$520,000
09/05/2024
HighCountry

HighCountry #251879

Listed
$520,000
-3.7%

Schools & Community

Elementary school: 

Valle Crucis

Middle school: 

Unknown

High school: 

Watauga

Community features: 

Pool, Clubhouse, Tennis Court(s)

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$211,947
Asking price
$520,000
Closing costs (~8% of asking)
-$41,600
Est. remaining loan balance
-$266,453
Cash to seller
$211,947

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

United Wholesale Mortgage

Loan start date

March 2023

Original loan amount

$272,000

Est. remaining balance

$266,453

Interest rate

6.13%

Loan type

New Conventional, 30 year

Seller

Vicki Elisa Messler

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 11/23/2024 at 3:25 AM

Listing updated: 11/04/2024 at 1:50 PM

Listed by: Susan Dolan, Ivester Jackson Distinctive Properties Phone #: (704) 655-0586

MLS: HighCountry #251879

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