Property listing for 111 Sugar Ski Dr Unit 11 103, Banner Elk, NC 28604
For SaleCondo

$270,000

111 Sugar Ski Dr Unit 11 103, Banner Elk, NC 28604

Renovated Top-Floor Loft Condo with True Ski-In/Ski-Out Access

1 Bed · 1 Bath · 515 Sq Ft

Turn-key 1BR/1BA loft in Sugar Ski & Country Club, furnished and updated

1

Beds

1

Baths

515

Sq Ft

1984

Built

About 111 Sugar Ski Dr Unit 11 103

This top-floor, end-unit loft at Sugar Ski & Country Club delivers exactly what mountain buyers seek: direct slope access, recent upgrades, and a compact, efficient footprint designed for guests and owners who value location above all. The 515 SF layout was renovated with practical, durable finishes — luxury vinyl plank flooring, new windows and doors, a bright skylight overhead, and an updated kitchen with stainless steel appliances and refreshed cabinetry. Large roofline windows and the skylight create an airy feel in the vaulted living area, which centers around an electric fireplace and opens to a private deck with clear mountain glimpses.

The loft sleeping area gives the unit flexibility: the raised bedroom accommodates a queen bed while a sleeper sofa in the living room expands sleeping capacity to four—an important detail for short-term rental performance. Offered furnished (with limited exclusions), the condo is essentially turnkey for personal retreats or immediate entry into the resort rental market. Practical systems are straightforward: electric heat, no central cooling, and public water/sewer. Owners report the HOA fee of $366/month, which covers cable, internet, and water — plus access to the complex’s clubhouse and wellness amenities.

Community amenities are a highlight here: a recently refreshed clubhouse with an indoor heated pool, hot tub, sauna, fitness room and tennis courts provides year-round recreation when the slopes are quiet. Most notably, the slope is effectively at your doorstep — Sugar Mountain Resort is approximately a stone’s throw from the complex, making this one of the most convenient ski-in/ski-out options in the area.

Financially, comparable sales in the complex support a fair market range near $260,000–$280,000 (midpoint ~$270,000). The unit was renovated for modern vacation rental appeal and has demonstrated strong seasonal demand, particularly through the winter months. Buyers should note the building’s 1984 vintage — roof, common-area condition, and any upcoming HOA assessments should be reviewed in due diligence. For a buyer seeking a compact, low-maintenance mountain base with immediate rental and recreational upside, this loft is a standout option.

Home Highlights

Turn-key furnished loftRenovated with new windows, doors, LVP flooring and skylightDirect ski-in/ski-out accessIndoor heated pool, hot tub, sauna, fitness roomHOA covers cable, internet and water ($366/month)Comfortably sleeps fourStrong seasonal rental demandTop-floor end unit with deck and mountain views

Property Features

Interior Features

  • 515 SF loft layout
  • 1 bedroom, 1 bathroom
  • Luxury vinyl plank flooring
  • Updated kitchen with stainless steel appliances
  • Skylight and new windows
  • Electric fireplace
  • Furnished — turn-key for occupancy or rental
  • Loft sleeping area plus pull-out sofa (sleeps up to 4)

Exterior & Lot

  • Top-floor end unit with private deck
  • Direct ski-in/ski-out proximity to Sugar Mountain Resort (≈0.1 mi)
  • Gated community access
  • Unassigned parking in community lot
  • Asphalt shingle roof (building built 1984)
  • Mountainous topography and seasonal views

Location & Neighborhood

  • Sugar Mountain Resort adjacent — 0.1 mile to slopes
  • Banner Elk downtown approximately 3 miles
  • Close to Grandfather Mountain and Blue Ridge Parkway
  • Part of Sugar Ski & Country Club gated community
  • Boone, NC MSA; Avery County

Walkability & Recreation

  • Walkability Rating: 40/100 — Car-Dependent
  • Sugar Mountain Resort (skiing/snowboarding) 0.1 mile
  • Community clubhouse with indoor heated pool, hot tub, sauna, fitness
  • Tennis courts on-site
  • Grandfather Mountain ~10 miles; Blue Ridge Parkway ~12 miles
  • Hiking and mountain biking trails within short drives

Neighborhood & Location

Sugar Mountain is a compact resort community centered on outdoor recreation and year-round mountain appeal. Residents enjoy immediate access to the slopes, a clubhouse with wellness amenities, and a short drive to Banner Elk’s restaurants, breweries, and events. The area sees seasonal population shifts—winter ski traffic and summer outdoor recreation—which supports a robust short-term rental market. The neighborhood blends resort convenience with the quieter charm of Avery County, making it ideal for second-home buyers and investors seeking easy slope access and community amenities.

Market Insights

Sugar Mountain and the surrounding Banner Elk area currently sit between balanced and seller-favored conditions for resort condos. Inventory is relatively tight — about 3.5 months of supply — which typically favors sellers for well-located, turnkey units. Compounded by the niche demand for true ski-in/ski-out product, properties like this loft command a premium. Local median sale price sits near $324,500, while recent analysis in the Sugar Ski & Country Club complex points to a condo valuation band around $260k–$280k; the midpoint estimate for this unit is $270,000. Average days on market in the corridor are longish (around 132 days), reflecting seasonality and buyer selectivity in resort markets; however, the most desirable slope-access units move more quickly during peak buying windows.

Condo performance: resort condos here show steady appreciation — roughly 5% year-over-year and about 25% over five years — and strong short-term rental potential during ski season. With an estimated monthly rent near $1,700 in peak times and historical gross rental receipts exceeding $20,000 annually for comparable units, this product type remains attractive to investors and second-home buyers. Prospective purchasers should confirm HOA reserves, recent assessments, and rental rules, but market signals point to an advantageous entry for buyers seeking slope-side inventory with turnkey appeal.

Nearby Schools

Banner Elk Elementary

Elementary

7/10

Avery Middle

Middle

2/10

Avery County High

High

4/10

Walkability & Recreation

40
Walkability
80
Recreation

Exceptional ski access with Sugar Mountain Resort 0.1 miles away, clubhouse amenities including an indoor pool and fitness center, nearby hiking and biking trails, and quick drives to Grandfather Mountain and the Blue Ridge Parkway.

Investment Highlights

  • Direct ski-in/ski-out access to Sugar Mountain Resort
  • Recently renovated with modern finishes and appliances
  • Strong short-term rental history with gross rents exceeding $20,000 annually
  • Comprehensive community amenities including indoor pool and fitness center
  • Offered furnished, providing a turn-key investment opportunity

Key Findings

  • Sold in October 2025 for $274,000 ($532/SF)
  • Assessed value of $103,400 with annual taxes of $728
  • HOA fees of $366/month covering cable, internet, and water
  • Comparable units in the complex sold between $233,000 and $295,000 in the past year
  • Located within 0.1 miles of Sugar Mountain Resort with direct slope access

Things to Consider

  • Built in 1984—potential for aging infrastructure requiring maintenance
  • No cooling system installed—may require portable or window units during warmer months
  • Middle and high schools have lower ratings, which may impact family buyers
  • Seasonal rental income variability due to dependence on ski season

Opportunity Analysis

Renovated loft condo with direct ski-in/ski-out access in a popular resort community, offering strong rental income potential and personal enjoyment.

Potential Use Scenarios

  • Utilize as a short-term rental during ski season to maximize income
  • Personal use during off-peak seasons to enjoy community amenities
  • Monitor HOA for any upcoming assessments or fee changes

Risk Factors

  • Dependence on seasonal tourism for rental income
  • Potential for increased maintenance costs due to age of building
  • Market fluctuations in resort property values

Buyers should conduct independent due diligence before making any purchase decisions.

AI Valuation Estimate

Low

$260K

Midpoint

$270K

High

$280K

$524/SF estimated price per square foot

85% confidence

Sales comparison approach using recent sales of similar units within the same complex. Adjusted for renovation quality and ski-in/ski-out access. Assessed value of $103,400 appears below market.

As of 2026-03-08

This is a computer-generated estimate for informational purposes only and is not an appraisal or professional valuation.

Market & Area Data

Market Trends

Area Median Price$324,500
Avg Days on Market132 days
Inventory3.5 months
1-Year Appreciation+5.0%

Demographics

Population (1 mi)500
Median Income (1 mi)$60,000

Seasonal population fluctuations due to tourism. Strong demand for short-term rentals during ski season.

Nearby Points of Interest

  • Sugar Mountain Resort (0.1 mi)
  • Banner Elk Downtown (3 mi)
  • Grandfather Mountain (10 mi)
  • Blue Ridge Parkway (12 mi)

Direct access to Sugar Mountain Resort for skiing and snowboarding. Close proximity to hiking trails, golf courses, and the scenic Blue Ridge Parkway.

School District

DistrictAvery County Schools
ElementaryBanner Elk Elementary (7/10)
MiddleAvery Middle (2/10)
HighAvery County High (4/10)

Market data is based on aggregated public records and may not reflect real-time conditions.

Property Details

Building Details

Year Built1984
Constructionwood frame
Stories2
Roofasphalt shingle
Heatingelectric
Coolingnone
Basementnone
FireplaceYes
Conditiongood

Lot & Site

Topographymountainous
Parkingunassigned

Utilities

Waterpublic
Sewerpublic
Electricavailable
Gasnot available

Zoning & Land Use

Zoning CodeR-3
DescriptionMulti-Family Residential
JurisdictionTown of Sugar Mountain

Allowed Uses

multi family residentialshort term rentals
Current Useresidential
Assessor UseResidential Condominium

Tax & Sale History

Tax Assessment

Total Assessed$103,400
Improvements$103,400
Annual Tax (2025)$728

Sale History

2025-10-30$274,000

$532/SF

Arm's length transaction

2022-05-01$233,000

$452/SF

Arm's length transaction

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