140 Library LN new Save Request In-Person Tour Request Virtual Tour
Banner Elk,NC 28604
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 3,723 sqft
Price per Sqft $590
MLS Listing ID 256603
Style Traditional
Bedrooms 5
Full Baths 4
Year Built 1897
Annual Tax Amount $4,563
Lot Size 2.700 Acres
Property Sub-Type Single Family Residence
Property Description
A Historic Lees-McRae Legacy with Timeless Character & Modern Comforts. For the first time since its founding in 1897, this treasured family estate is being offered for sale. Rich in history and full of enduring charm, 140 Library Lane was the home of Reverend Edgar Tufts who founded Lees-McRae College. Surrounded by campus in the heart of Banner Elk, this stately 5-bedroom, 4-bath home (inc. a separate 1-bedroom, 1-bath fully furnished guest apartment over the garage) is a truly rare offering. Old-world craftsmanship is evident throughout, with original wood floors, solid wood doors, wide baseboards, and beautiful wormy chestnut trim. Three grand stone fireplaces—now converted to natural gas—anchor the living spaces, while a wood-burning stove adds rustic charm and warmth. Modern upgrades blend seamlessly into the home's character, including new appliances, updated siding and windows (post-hurricane), a large new deck nestled among the trees, and 2 spacious storage sheds for added convenience.The grounds are just as enchanting, offering peaceful vignettes throughout: a welcoming stone front porch, 2 addt'l stone patios, a swing beside a quiet pond, blooming flower gardens, mature apple tree, prolific blueberry bushes, and stone walkways that invite you to explore the beauty of this timeless setting. Currently zoned R-2, the property permits accessory buildings, accessory dwellings, home occupations and other special uses. With direct frontage on Highway 194 and surrounded by campus, rezoning for commercial or institutional use is viable, subject to approval by the Town of Banner Elk. Beyond its architectural and natural beauty, this home holds significant historical importance. Lovingly stewarded by the Tufts family for over 125 years, 140 Library Lane is not just a property—it is a piece of Banner Elk's soul. This is a once-in-a-generation opportunity to own a landmark filled with heart, heritage, and limitless potential. Schedule your private showing today.
Location
State NC
County Avery
Community Long Term Rental Allowed,Short Term Rental Allowed
Area 8-Banner Elk
Interior
Heating Electric,Forced Air,Fireplace(s),Gas,Hot Water,Radiant Floor,Wood Stove
Cooling Central Air,Other,See Remarks,Zoned
Fireplaces Number 3
Fireplaces Type Three,Stone,Vented,Gas
Laundry Washer Hookup,Dryer Hookup,Main Level
Exterior
Exterior Feature Storage,Gravel Driveway
Parking Features Attached,Driveway,Garage,Two Car Garage,Gravel,Oversized,Private
Garage Spaces 2.0
Garage Description 2.0
Community Features Long Term Rental Allowed,Short Term Rental Allowed
Utilities Available Cable Available,High Speed Internet Available
View Y/N Yes
View Trees/Woods
Roof Type Architectural,Shingle
Building
Story 2
Foundation Basement
Sewer Public Sewer
Water Public
Schools
Elementary Schools Banner Elk
High Schools Avery County
Others
Acceptable Financing Cash,Conventional,New Loan
Listing Terms Cash,Conventional,New Loan
Virtual Tour https://app.cloudpano.com/tours/M5Bl9T_oB?sceneId=jOp3gn-CDj