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$350,000

Beds
2
Baths
1.0
sq ft
883

90 Lee Lane, Elk Park, NC 28622

90 Lee Lane

Elk Park, NC 28622

  • 2 days on market
RIVER FRONT GEM! 2 Bedroom 1 Bathroom cottage located on the Elk River just 8 minutes from downtown Banner Elk! Excellent starter home, vacation getaway or short term rental property! All one level living, large kitchen with tons of counter space and open to the living room which has a cozy gas log stove. Both bedrooms are good sized & there is a large full bath with laundry. Open & covered back porch overlooking the Elk River. Plenty of parking space, turn-around area & outdoor storage shed. Crawlspace also allows for additional storage if needed. Hurricane Helene Damage: Loss of some of the riverbank, it will need to be stabilized & rebuilt.. Minor damage to some of the roof shingles from downed power line.. Leak in shared well supply line.. Crawlspace had some water & sand however it is now dry. Other than the shingles no other damage to home was found. Current owner does not have flood insurance & home is not in the flood zone, but the land is & FEMA maps could be subject to change in the future. Seller is offering a $10K buyer credit with acceptable offer to help towards the riverbank & the roof.

Details

Property type

Single Family Residence

Est. home value

$246,580

Lot size

1.77 acres

Price per sq ft

$397

Year built

1992

Annual property taxes

$560

HOA

No

Price History

02/21/2025
HighCountry

HighCountry #253858

Listed
$350,000
+105.88%
01/31/2017
HighCountry

HighCountry #39202111

Sold
$170,000

Schools & Community

Elementary school: 

Freedom Trail

Middle school: 

Cranberry

High school: 

Avery County

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

$207,646
Asking price
$350,000
Closing costs (~8% of asking)
-$28,000
Est. remaining loan balance
-$114,354
Cash to seller
$207,646

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

Seller’s Loan History

Lender

Highlands Union Bank

Loan start date

January 2017

Original loan amount

$136,000

Est. remaining balance

$114,354

Interest rate

4.16%

Loan type

New Conventional, 30 year

Seller

James W Waide and William H Waide

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?

Status: Active

Tomo last checked: 02/24/2025 at 8:05 AM

Listing updated: 02/21/2025 at 5:20 PM

Listed by: Samantha Benfield, Keller Williams High Country Phone #: (828) 386-1086

MLS: HighCountry #253858

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