FireplaceDen, Gas Log, Great Room, Kitchen, Porch, Primary Bedroom, Propane
ViewOther, Mountain(s)
MLS #4178430
StatusAccepting Backup Offers (Active Under Contract)
About 120 Summit Park Dr
Discover the pinnacle of mountain living! This magnificent crafted marvel on 7.64 private, landscaped acres within the gates of Elk River. Designed with architectural brilliance and unparalleled craftsmanship. The expansive great room showcases stunning wood and stone elements, soaring ceilings, and a complete bar for entertaining overlooking the dining area with detailed fireplace.The gourmet kitchen features top-tier appliances, custom cabinetry, and opens to a generous screened porch perfect for outdoor living. Retreat to the primary suite with its spa-like bath, including a waterfall shower and soaking tub with views. The home offers two offices, a library, a theater, personal gym and two elevators for ultimate convenience. The custom wine cellar with leaded glass is a wine lover's dream. The beautifully landscaped grounds create a serene, private retreat. This estate is a perfect blend of elegance and comfort, offering a truly lavish lifestyle.Not one inch was overlooked!
Property Details
Property Features
Property Information:
Architectural Style: European, Old World
Year Built: 2008
Living Area: 13,446 SqFt
Listing Office:
Office Name: Premier Sotheby’s International Realty
Office Phone: (828) 279-3980
Interior Features
Interior Information:
Appliances: Bar Fridge, Dishwasher, Disposal, Dryer, Gas Range, Microwave, Plumbed For Ice Maker, Water Heater, Refrigerator, Trash Compactor, Warming Drawer, Washer, Washer/Dryer
Basement: Yes
Flooring Type: Stone, Tile, Wood
Interior: Attic Stairs Fixed, Built-in Features, Elevator, Entrance Foyer, Kitchen Island, Open Floorplan, Split Bedroom, Storage, Walk-In Closet(s), Wet Bar
Fireplace: Den, Gas Log, Great Room, Kitchen, Porch, Primary Bedroom, Propane
Bedroom and Bathroom Information:
Partial Bathrooms: 2
Full Bathrooms: 6
Total Bedroom Count: 5
Exterior Features
Exterior Information:
View: Other, Mountain(s)
Parking Information:
Attached Garage: Yes
Parking: Circular Driveway, Attached Garage, Garage Faces Side
Directions: From Banner Elk: Turn left onto Main St E. In 1.2 miles turn left and take a slight right turn onto Elk River Parkway. Continue through gate, in 0.5 miles turn left onto Elk River Parkway. Continue onto Summit Ledges Lane, then keep heading up the mountain to the top. 120 Summit Park will be on the right.
Price Information
Listing Price Info
Price Summary:
List Price: $14,000,000
Price Per SqFt: $1,041/SqFt
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in Banner Elk, NC.
This property is $13.6M more than the Median Sold Price and $740/SqFt more than other homes in Banner Elk, NC.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Number: #4178430
Listing Office:
Office Name: Premier Sotheby’s International Realty
Office Phone: (828) 279-3980
Listings courtesy of Canopy MLS as distributed by MLS GRID.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@MLSGrid.com.
The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and email address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.
We're sorry, we currently don't have sales or tax history data for this listing.
Payment Calculator
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$69.9K
Per Month
Principal & Interest
$69.8K
Home PriceThe dollar amount you pay for the home.
$
Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.
%
Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.
$%
Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.
Property Taxes
$0
Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.
$/ Year
Mortgage Insurance
$0
Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.
$/ Month
Homeowners Insurance
$67
Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.
$/ Month
Homeowners Association (HOA)
$0
Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.
$/ Month
Utilities
$0
Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.
$/ Month
Recommended Financing
30-Year Fixed
Rate/APR
7.5% / 6.68%
Total Monthly Payment
$42K
Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
9
/10
Banner Elk Elementary School
155 Orchard Ln
Distance between this listing and this school2.90 miles
Public District Grades PK-5
8
/10
Freedom Trail Elementary School
6110 N US Highway 19E
Distance between this listing and this school3.07 miles
Public District Grades PK-5
5
/10
Newland Elementary School
750 Linville St
Distance between this listing and this school4.17 miles
Public District Grades PK-5
Nearby Schools
6
/10
Cranberry Middle School
6230 N US Highway 19E
Distance between this listing and this school3.09 miles
Public District Grades 6-8
3
/10
Avery Middle School
102 Old Montezuma Rd
Distance between this listing and this school5.12 miles
Public District Grades 6-8
7
/10
Valle Crucis School
2998 Broadstone Rd
Distance between this listing and this school8.68 miles
Public District Grades PK-8
Nearby Schools
4
/10
Avery County High School
401 Avery County High School Rd # R
Distance between this listing and this school5.12 miles
Public District Grades 9-12
5
/10
Marjorie Williams Academy
129 Allen Circle
Distance between this listing and this school8.10 miles
Public Charter Grades KG-12
5
/10
Cloudland High School
476 Cloudland Dr
Distance between this listing and this school9.35 miles
The neighbors living near this home have an average income of $44,052. Residents of Banner Elk, NC typically earn between $35k-100k each year. Residents typically live in single, no kids family. Residents of this area typically have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 120 Summit Park Dr
What is the listing price of this property?
The listing price of 120 Summit Park Dr property is $14,000,000.
What type of property is this?
The property 120 Summit Park Dr is a house located in Banner Elk, North Carolina, 28604.
Is this property for sale now?
Accepting Backup Offers: 120 Summit Park Dr is Accepting Backup Offers (Active Under Contract), there is still a chance to have your real estate agent submit an offer.
How many bedrooms and bathrooms does this property have?
The property at 120 Summit Park Dr has 5 bedrooms and 6 full and 2 half bathrooms.
What is the square footage of this property?
The property 120 Summit Park Dr is 13,446 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 120 Summit Park Dr is 2008.
By checking this box and submitting your personal information, you agree to our Terms of Use and Privacy Policy. You also expressly consent to having Rocket Homes Real Estate LLC, its Family of Companies, Rocket Homes Network Partners, and potentially our mortgage partners contact you about your inquiry by text message or phone (including automatic telephone dialing system, AI voice, or an artificial or prerecorded voice) to the residential or cellular telephone number you have provided, even if that telephone number is on a corporate, state, or national Do Not Call Registry. You do not have to agree to receive such calls or messages as a condition of getting any services from Rocket Homes Real Estate, LLC or its partners. By communicating with us by phone, you consent to calls being recorded and monitored. You also agree that we can share your personal data and contact information with third parties such as mortgage partners, partner companies, and affiliates, and that these parties may use your personal data and contact information for marketing and analytic purposes, and to improve your experience.
This home is located at 120 Summit Park Dr in Banner Elk, NC and zip code 28604. This 13,446 square foot home was built in 2008. Features: 5 bedrooms, 8 bathrooms. It has been listed on Rocket Homes since September 13, 2024 and is currently priced at $14,000,000.
In October 2024, from all listings sold in Banner Elk, NC there were more than 0 sold above asking price, over 1 sold below and more than 0 were sold right at the asked price. The number of homes for sale in Banner Elk, NC increased by 14% between September 2024 and October 2024. In October 2024 median list price was $315,000 and the average listing age was 53 days.
From Rocket Homes Real Estate and based on county public records data.