599,950
6 Bed · 3 Bath · 1,800 Sq Ft
Versatile RS-8 property with ADU potential and mountain views
6
Beds
3
Baths
1,800
Sq Ft
1955
Built
0.5 acres
Lot
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.
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
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.
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.
AC Reynolds High
High
Asheville Middle
Middle
Oakley Elementary
Elementary
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.
Updated bungalow in promising Asheville neighborhood with mountain views and strong appreciation potential. ADU options for investment upside.
Buyers should conduct independent due diligence before making any purchase decisions.
Low
$450K
Midpoint
$473K
High
$495K
$262/SF estimated price per square foot
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.
Asheville median home prices increased 30% from 2020-2025. Desirable for retirees and younger families. Walkability: 65/100.
Minutes to Biltmore Village. Near Blue Ridge Parkway for recreation. Close to shopping and healthcare.
Market data is based on aggregated public records and may not reflect real-time conditions.
Allowed Uses
$180/SF
Standard sale
599,950
Active ListingThis 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
Connect with a licensed local agent in this area.
Request a ShowingAre you a buyer's agent?
Claim ZIP 28803 — $49/yrProperty 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