Pretty creek and setting! Check out the potential! C. 1954 on two acres in North Carolina. $80,000.
This mountain home is located in Burnsville, North Carolina and offers a major renovation project. The property is currently priced under its land value because the structure needs a complete overhaul. It is an ideal option for real estate investors, contractors, or buyers who want to rebuild a large house from the ground up. The surrounding area is extremely quiet, peaceful, and private.
26 Cold Spring Rd, Burnsville, NC 28714
Price: $80,000
Large Interior Space and Layout
The house is a ranch style single family home built in 1954 that features one main story and a basement. Inside you will find 3,306 square feet of total interior livable space. The floor plan is open around the main kitchen and gathering space, which makes the layout feel wide. There are 4 dedicated bedrooms and a total of 6 bathrooms, consisting of 4 full bathrooms and 2 half bathrooms.
The interior requires extensive repairs including new drywall to patch up holes in the ceilings. The flooring consists of original hardwood floors along with sections of linoleum or vinyl. Other interior details include built in features, a wood burning fireplace in the living room, a spiral staircase, and an attic fan. The laundry area is situated on the main level. There is also an attached garage to provide parking and extra storage space.
features
- 4 bedrooms
- 6 bathrooms (4 full, 2 half)
- 3,306 square feet of interior space
- Built in 1954
- Ranch style one story layout
- Open floor plan
- Hardwood and vinyl flooring
- Wood burning fireplace
- Spiral staircase
- Attic fan
- Attached garage
- Main level laundry
Creek Access and Bridge Requirements
The most unique feature of this land is that it sits right against a rushing mountain creek called Cattail Creek. However, this water source also creates the biggest immediate task for a new owner. There is currently no usable bridge to cross the creek and reach the house. The previous bridge is in total disrepair and is unsafe to walk on or cross with a vehicle.
Anyone buying the home must plan to build a brand new bridge over the creek to establish proper access to the property. On the positive side, the house is not located in a designated flood plain. The structure also went through Hurricane Helene completely untouched and sustained zero damage from that storm.
features
- Bordered by Cattail Creek
- Needs a completely new bridge built
- Current bridge is in disrepair and unsafe
- Not located in a flood plain
- No damage from Hurricane Helene
The Wooded Lot and Location
The house is situated on a large lot that spans over 2 acres of land. It is a heavily wooded area that is filled with mature trees and lush mountain greenery. The front of the lot is defined by the rushing water of the creek, while the back borders state owned land near the Pisgah National Forest. This setup ensures that your privacy is completely protected from future developments.
The physical location offers a quiet mountain lifestyle while remaining accessible to nearby towns. You can drive to the downtown area of Burnsville in about 15 minutes to access local shops, restaurants, and standard errands. If you need to travel to a larger city, Asheville is less than an hour away from the property.
features
- 2.18 total acres
- Wooded lot with mature trees
- Borders state owned land
- Near Pisgah National Forest
- 15 minute drive to downtown Burnsville
- Under an hour drive to Asheville
Renovation Costs and Financing
Because the home is in a state of deep disrepair, standard traditional mortgages will not work for this purchase. Buyers will need to look at all cash purchases or specialized renovation loans to fund the property. The overall investment requires two main phases of spending.
First, you have the initial purchase price of $90,000 for the land and structure. Second, the estimated renovation costs are projected to run between $150,000 and $200,000. This estimate includes the construction of the new creek bridge along with the full interior and exterior home restoration. Once all the renovation work is fully completed, the estimated after repair value of the property is around $550,000. This leaves a significant amount of potential equity for an experienced contractor or investor.
features
- $90,000 purchase price
- Estimated renovation costs of $150,000 to $200,000
- Estimated after repair value of $550,000
- Requires cash or a renovation loan
- Priced below land value
From Zillow
Calling all investors, contractors, and buyers with vision! This unique creek side mountain property presents an exceptional opportunity to restore and transform an existing home into a beautiful and distinctive residence.
The home is currently being offered under land value, but with the right renovations, the property has significant potential. The home is not located in a flood plain and sustained no damage from Hurricane Helene.
Please note that the property currently does not have a bridge providing access to the house across the creek, and construction of a bridge will be required.
Estimated renovation costs, including bridge construction, are approximately $150,000–$200,000, with an estimated after-repair value (ARV) of around $550,000. This is a rare opportunity to create a truly special mountain home in a scenic creek side setting.
