Property listing for 483 Caribou Road, Asheville, NC 28803
For SaleSingle Family Home

599,950

483 Caribou Road, Asheville, NC 28803

Sprawling Bungalow on Half-Acre Near Biltmore Village

6 Bed · 3 Bath · 1,800 Sq Ft

Versatile RS-8 property with ADU potential and mountain views

Featured

6

Beds

3

Baths

1,800

Sq Ft

1955

Built

0.5 acres

Lot

About 483 Caribou Road

A broad, welcoming façade and wide lawn set this bungalow apart the moment you arrive at 483 Caribou Road. Perched on what the listing describes as a generous half-acre parcel, the home was purpose-adapted and recently operated as an adult assisted-living residence until December 2025—an uncommon configuration that creates multiple possibilities: convert back to a single-family residence, continue use as care housing, or explore childcare, transitional housing, or other commercial/residential mixes permitted under city guidance.

Inside, the floor plan reflects the practical, comfortable finishes of a well-maintained midcentury bungalow. The interior totals approximately 1,800 square feet and historically accommodated up to six bedrooms and three full baths during its operation as a licensed care home; the seller notes updated kitchen and bathroom finishes and systems in good condition. A sizable dining room and multiple living spaces support household living and flexible programming, while a dedicated laundry room and central HVAC (forced air gas) add everyday convenience. A functioning fireplace anchors one of the main rooms and the roof is traditional shingle construction.

Outside, the property’s gently sloping lot delivers privacy and usable outdoor space rarely found so close to central Asheville. A long driveway provides parking for several vehicles; mature plantings frame the yard and the front porch captures distant mountain views toward the Blue Ridge. The parcel sits on the ART bus line, offering transit access in addition to easy drives to Biltmore Village (about a mile) and Downtown Asheville.

Important zoning and use notes: the City currently classifies the building as an Adult Care Home / commercial use, and the parcel is zoned RS8—allowing single-family residential uses and accessory dwelling units (ADU) subject to city requirements. Prospective buyers should consult the City of Asheville planning staff to confirm permitted uses, potential permitting paths, and any transition steps required for a change of occupancy.

This is a rare offering for buyers who value proximity to Blue Ridge recreation and Biltmore-area amenities while seeking a property with built-in flexibility. Whether you’re restoring the bungalow as a family home, pursuing an income strategy, or evaluating a programmatic use that leverages the existing layout, 483 Caribou Road presents a pragmatic canvas in one of Asheville’s established neighborhoods.

Agent Remarks

This property operated as an adult assisted living home (6 beds + onsite staff member) until December 2025. It could also be a prospect for a Day Care, Family Care, pre-school, transitional housing or residential. Only recently vacated, the building is well maintained, in clean condition and sits on a nice, large .5 acre lot. 6 bedrooms, 3 full baths, laundry room, large dining and livings rooms. The property is zoned RS-8 and is presently classified by the City as an Adult Care Home / Commercial use. Buyers are encouraged to consult with the City of Asheville regarding their intended use. Location Description Located in South Asheville, 483 Caribou Road offers convenient access to Downtown Asheville, Biltmore Village, and major employment and retail corridors. Highlights Located on the ART bus line Zoned RS-8 Large .5 acre lot Established surrounding neighborhood Strong long-term demand for residential property in the area

Home Highlights

Former adult care home—recently vacated (Dec 2025)Zoned RS8 with ADU potentialLarge half-acre lot with mountain viewsUpdated kitchen and bathroomsCentral AC and forced-air heatingDriveway parking for multiple carsOn ART bus line; near Biltmore Village

Property Features

Interior Features

  • Approximately 1,800 SF of living space
  • Flexible layout previously configured with 6 bedrooms
  • 3 full bathrooms
  • Updated kitchen and bathrooms
  • Laundry room
  • Central AC and forced-air gas heating
  • Wood-frame construction with shingle roof
  • Working fireplace

Exterior & Lot

  • Approx. 0.5-acre lot (generous yard and setbacks)
  • Driveway parking for multiple vehicles (est. 3)
  • Gently sloping topography
  • Mature landscaping and established neighborhood plantings
  • Front porch with mountain views
  • No attached garage

Location & Neighborhood

  • Shiloh neighborhood, South Asheville
  • About 1 mile to Biltmore Village
  • Minutes to Downtown Asheville
  • On ART bus line for transit access
  • Close to healthcare and employment corridors

Walkability & Recreation

  • Walkability Rating: 65/100 — Some walkable amenities and transit access
  • Biltmore Village (≈1 mile) and Blue Ridge Parkway (≈2 miles)
  • Lake Julian Park within 5 miles
  • Nearby running/walking routes and neighborhood green streets
  • Community recreation and retail corridors easily reachable by car or transit

Neighborhood & Location

Shiloh is an established South Asheville neighborhood prized for its mature streets, bungalow stock, and easy access to Biltmore Village and the Blue Ridge Parkway. Residents enjoy a mix of quiet residential blocks and nearby retail corridors, plus public transit via the ART bus. The area attracts families and professionals seeking proximity to downtown Asheville, local parks, and healthcare services, with a close-knit community feel and convenient lifestyle amenities.

Market Insights

Asheville’s market remains competitive and favors sellers: current inventory sits around three months and average days on market is approximately 35. The neighborhood corridor around Shiloh and the South Asheville area has seen steady appreciation—about 4.5% year-over-year and roughly 30% over five years—driven by consistent demand and limited new supply. Comparable bungalow sales within a half-mile show recent closings between $460,000 and $495,000 with price-per-square-foot metrics in the $255–$275 range, indicating this property’s list price positions it at the upper end of local bungalow pricing, justified by lot size and the property’s commercial/adaptive-use history.

Single-family homes and bungalow-style properties in this pocket perform well: purchasers seeking rental income will find a strong market—estimated rents around $2,400–$2,600/month and a rent-per-square-foot near $1.39—though conversion to traditional rental use may require review given the current City classification. Given limited supply and steady buyer interest for properties near Biltmore Village and the Blue Ridge Parkway, now is a strategic time for sellers; buyers should be prepared for market competition and should perform expedited due diligence on zoning, systems, and use permissions.

Nearby Schools

AC Reynolds High

High

8/10

Asheville Middle

Middle

7/10

Oakley Elementary

Elementary

6/10

Walkability & Recreation

65
Walkability
80
Recreation

Very good outdoor access with the Blue Ridge Parkway ~2 miles away, Biltmore Village about 1 mile from the home, Lake Julian Park within 5 miles, and neighborhood walking routes and green space for daily recreation.

Investment Highlights

  • Mountain views from front porch
  • Proximity to Biltmore Village (1 mile) and Blue Ridge Parkway (2 miles)
  • RS8 zoning allows for accessory dwelling unit
  • Recently updated kitchen and bathrooms add value
  • High appreciation area — market grew 30% over 5 years

Key Findings

  • County assessor records confirm 2019 sale at $325,000
  • Assessed value $350,000 (land $140K, improvements $210K)
  • RS8 zoning supports residential and potential ADU use
  • Nearby Blue Ridge Parkway enhances recreational value

Things to Consider

  • Built in 1955 — ages of plumbing and electrical systems should be checked
  • Market reliance on tourism may impact future appreciation
  • Potential for increased traffic from tourist areas — Hendersonville Rd nearby

Opportunity Analysis

Updated bungalow in promising Asheville neighborhood with mountain views and strong appreciation potential. ADU options for investment upside.

Potential Use Scenarios

  • Ideal primary residence with investment potential
  • Develop ADU for rental or guest accommodation
  • Market trends favor holding for appreciation

Risk Factors

  • Aging infrastructure typical of 1950s construction
  • Tourist economy influence on market stability
  • Traffic increases from nearby tourist attractions

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

AI Valuation Estimate

Low

$450K

Midpoint

$473K

High

$495K

$262/SF estimated price per square foot

80% confidence

Sales comparison within 1 mile. Adjusted for updates and lot size. Assessed value below market.

As of 2026-03-10

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$475,000
Avg Days on Market35 days
Inventory3 months
1-Year Appreciation+4.5%

Demographics

Population (1 mi)8,000
Median Income (1 mi)$62,000

Asheville median home prices increased 30% from 2020-2025. Desirable for retirees and younger families. Walkability: 65/100.

Nearby Points of Interest

  • Biltmore Village (1 mile)
  • Blue Ridge Parkway (2 miles)
  • Asheville High School (1.5 miles)
  • Mission Hospital (2 miles)
  • Lake Julian Park (5 miles)

Minutes to Biltmore Village. Near Blue Ridge Parkway for recreation. Close to shopping and healthcare.

School District

DistrictAsheville City Schools
ElementaryOakley Elementary (6/10)
MiddleAsheville Middle (7/10)
HighAC Reynolds High (8/10)

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

Property Details

Building Details

Year Built1955
Constructionframe/wood
Stories1
Roofshingle
Heatingforced air gas
Coolingcentral AC
Basementnone
FireplaceYes
Conditiongood

Lot & Site

Lot Size0.23 acres (10,000 SF)
Topographygently sloping
Parkingdriveway
Parking Spaces3
Frontage50 ft frontage on Caribou Road

Utilities

Watermunicipal
Sewermunicipal
ElectricDuke Energy
GasPiedmont Natural Gas

Zoning & Land Use

Zoning CodeRS8
DescriptionSingle Family Residential
JurisdictionCity of Asheville

Allowed Uses

single familyaccessory dwelling unithome occupation
Current Useresidential
Assessor UseSingle Family Residential

Tax & Sale History

Tax Assessment

Total Assessed$350,000
Land$140,000
Improvements$210,000
Annual Tax (2025)$4,200

Sale History

2019-07-20$325,000

$180/SF

Standard sale

Listed by Agent

599,950

Active Listing

This property operated as an adult assisted living home (6 beds + onsite staff member) until December 2025. It could also be a prospect for a Day Care, Family Care, pre-school, transitional housing or residential. Only recently vacated, the building is well maintained, in clean condition and sits on a nice, large .5 acre lot. 6 bedrooms, 3 full baths, laundry room, large dining and livings rooms. The property is zoned RS-8 and is presently classified by the City as an Adult Care Home / Commercial use. Buyers are encouraged to consult with the City of Asheville regarding their intended use. Location Description Located in South Asheville, 483 Caribou Road offers convenient access to Downtown Asheville, Biltmore Village, and major employment and retail corridors. Highlights Located on the ART bus line Zoned RS-8 Large .5 acre lot Established surrounding neighborhood Strong long-term demand for residential property in the area

828.548.0090

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Property details may be compiled from public records, MLS-derived data, and automated analysis. Agent claim indicates the agent has claimed this profile or confirmed representation of the property; it does not mean the agent has verified all property details.

Scott Raines

Listing Agent · Dewey Property Advisors

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