5 Main Street, Asheville NC
- 3 Bed
- 2 Bath
- 1280 ft2
- 0.2 ac
For Sale $517,000
Remarks:
Income-Producing Property with Development Potential in Prime Asheville Location 5 Main Street presents a compelling opportunity for investors and developers seeking immediate cash flow with future upside. Ideally positioned near Biltmore Village and the rapidly evolving Swannanoa River corridor, this property combines proven rental performance with additional development potential. The home features a fully renovated (2021) lower level configured as a private studio apartment with both interior and exterior access—ideal for homestay or monthly rental use. This space highlights original 100-year-old exposed brick with distinctive arched window details, creating a unique and highly marketable aesthetic. The studio includes a bedroom area, full bath with antique clawfoot tub, independent mini-split HVAC, updated electrical, and a living area with a built-in projector for a 90-inch display. Interior and exterior French drains were installed prior to Hurricane Helene and performed as designed. The main level offers additional rental or owner-occupant flexibility, featuring hardwood floors, 9-foot ceilings, a brick fireplace, and custom built-ins. Don’t forget to check out the custom built-in breakfast nook/table that’s not featured in the photo gallery! A covered front porch enhances tenant appeal and livability. The upstairs is also serviced by a natural gas heating and air conditioning system installed in 2021, providing efficient and reliable climate control. Proven Income History: The property has been consistently operated as a furnished monthly rental with strong occupancy. Rental records available upon request. (RM8 Zoned = Duplexes are permissible if desired) Location Advantage: Walkable to Biltmore Village (approx. 10 minutes) and in close proximity to the planned Hellbender Concert Venue along the Swannanoa River Greenway—an area poised for continued growth and investment. Easy transit access provides a direct route to downtown Asheville in approximately 10 minutes. Development Upside: The lot is zoned and sized to potentially allow subdivision of the rear portion into an additional “flag lot”—offering the opportunity to add another unit, expand density, or pursue resale of a separate parcel. Owner will accept a scenario in which buyer agrees to purchase home with back “flag lot” divided off. This scenario would require the acceptance of a shared driveway easement to allow future access to “flag lot”. Buyer to verify all subdivision feasibility, zoning, and permitting. Tenant in place through end of July; showings by appointment only. Owner is willing to sell home fully furnished as part of a separate furniture transaction. Items that will not convey and that will not be available as part of a separate furniture transaction include: 1) Lexington Glass pendant lights (base fixture and hardware will convey). 2) vintage refrigerator.
General Information:
| List Price: | $517,000 |
| Status: | For Sale |
| Bedrooms: | 3 |
| Type: | Single Family Residence |
| Approx Sq. Ft.: | 1280 sqft |
| Parking: | Driveway |
| MLS Number: | CAR4373261 |
| Subdivision: | Alta Vista |
| Bathrooms: | 2 |
| Year Built: | 1926 |
| Sewer Type: | County Sewer |
Assigned Schools:
| Elementary: | Unspecified |
| Middle: | AC Reynolds |
| High: | AC Reynolds |
Price & Sales History
| Date | Event | Price | $/SQFT |
| 05-16-2026 | Listed | $517,000 | $404 |
| 06-23-2025 | Listed | $399,900 | $313 |
Nearby Schools
These schools are only nearby your property search, you must confirm exact assigned schools.
| School Name | Distance | Grades | Rating |
| Oakley Elementary | 1 miles | KG-05 | 4 |
| Haw Creek Elementary | 2 miles | KG-05 | 7 |
| Charles C Bell Elementary | 3 miles | KG-05 | 8 |
| Hall Fletcher Elementary | 3 miles | PK-05 | 2 |
| Isaac Dickson Elementary | 3 miles | PK-05 | 9 |
| Evergreen Community Charter | 3 miles | KG-06 | 8 |
Source is provided by local and state governments and municipalities and is subject to change without notice, and is not guaranteed to be up to date or accurate.
Properties For Sale Nearby
Mileage is an estimation calculated from the property results address of your search. Driving time will vary from location to location.
| Street Address | Distance | Status | List Price | Days on Market |
| 5 Main Street, Asheville NC | 0 mi | $517,000 | days | |
| 3 Fourth Street, Asheville NC | 0.1 mi | $450,000 | days | |
| 14 3rd Street, Asheville NC | 0.1 mi | $587,500 | days | |
| 37 First Street, Asheville NC | 0.1 mi | $500,000 | days | |
| 24 Ridge Avenue, Asheville NC | 0.2 mi | $475,000 | days | |
| 495 Fairview Road, Asheville NC | 0.2 mi | $660,000 | days |
Sold Properties Nearby
Mileage is an estimation calculated from the property results address of your search. Driving time will vary from location to location.
| Street Address | Distance | Property Type | Sold Price | Property Details |
Commute Distance & Time
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Mortgage Calculator
| Down Payment Amount | $990,000 |
| Mortgage Amount | $3,960,000 |
| Monthly Payment (Principal & Interest Only) | $19,480 |
* Expand Calculator (incl. monthly expenses)
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| Total Monthly Payment | $20,941 |
Demographic Data For Zip 28803
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Source is provided by local and state governments and municipalities and is subject to change without notice, and is not guaranteed to be up to date or accurate.
Property Listing Information
A Courtesy Listing Provided By Wander Wagon Tours & Realty
5 Main Street, Asheville NC is a 1280 ft2 on a 0.220 acres Appraisal lot. This is for $517,000. This has 3 bedrooms, 2 baths, and was built in 1926.
Based on information submitted to the MLS GRID as of 2026-05-16 11:06:57 EST. 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. Some IDX listings have been excluded from this website.
Properties displayed may be listed or sold by various participants in the MLS.
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