132 Heather Lane, Banner Elk, NC 28604

• 5 beds |
• 4 baths |
• 2,336 sqft

Property Description

Located approx a mile from the Town of Banner Elk, this charming mountain cottage sits in the highly sought-after Highlands community and offers proven income-producing potential as a high-performing short-term rental for the past three years. This fully furnished 5-bedroom, 3.5-bath Cape Cod-style home rests on nearly one acre (.95) and features a spacious open floor plan designed for comfort and entertaining. The main level includes a fully equipped kitchen, large dining area accommodating all guests at one table, and a bright living room filled with windows. A main-level bedroom with attached full bath and double closets provides convenient single-level living. Two decks on the main floor—one off the dining area and one off the living room—extend the living space outdoors. Upstairs features two bedrooms, including the primary suite with full bath, closet, and dormer seating with built-in storage. An additional bedroom offers a half bath, closet, and dormer bench/storage. The finished walkout basement adds two more bedrooms, a full bath, stackable laundry, and a converted one-car garage now serving as a game room with arcade games and movie space. Two separate basement entrances provide excellent functionality. The hot tub conveys and remains a favorite amenity for guests. This home appraised $10,000 above list price and generated $72,000 in rental income in 2024 despite significant fourth-quarter cancellations due to Hurricane Helene, projecting revenue potential near $100,000 annually. 2025 performance has remained strong, even with substantial owner use during peak summer months. P&L's are included in the attachments. Ideal as a turnkey investment property, second home, or full-time mountain retreat—minutes to dining, shopping, skiing, and year-round recreation.

Listing Status:

Active

Data Last Updated:

March 26, 2026 at 5:16AM

Listing Office:

EXP Realty LLC : 888-584-9431

MLS ID:

4356600

Interior

• Appliances: DishwasherDisposalDryerElectric Water HeaterMicrowaveOvenRefrigeratorWasherWasher/Dryer
• Laundry: In Basement
• Basement: Exterior EntryFinishedFullInterior EntryWalk-Out AccessWalk-Up Access
• A/C: None
• Heating: Forced Air

Exterior

• General: Hot Tub
• Parking: Driveway

Construction

• General: Site BuiltBasement

Location

• Road/Access: Gravel
• Originating MLS: carolina
• County: Avery

Lot

• Zoning: r184900913396

Utilities

• Water: City
• Sewer: Public Sewer

Financial

• Source: carolina