Property listing for 505 Firetower Rd, Elizabeth City, NC 27909
For SaleSingle Family Home

$355,000

505 Firetower Rd, Elizabeth City, NC 27909

Ranch-Style 3BR/3.5BA on 5.11 Acres with In-Law Suite & Workshop

3 Bed · 3.5 Bath · 2,500 Sq Ft

Versatile country property minutes from Elizabeth City amenities

3

Beds

3.5

Baths

2,500

Sq Ft

2002

Built

5.11 acres

Lot

detached garage

Garage

About 505 Firetower Rd

What sets 505 Firetower Rd apart is the combination of scale and flexibility: a 2,500-square-foot ranch on 5.11 acres that blends country acreage with thoughtful, family-ready spaces. Approaching down Firetower Road, the home’s log-style siding and level, open lot announce property possibilities — room for animals, a garden, or a weekend project — while remaining within a short drive of Elizabeth City’s services and institutions.

Step inside to an open main living area centered on a fireplace with custom built-ins that create a warm gathering point for everyday life. The floorplan is practical and livable: a large laundry/mudroom, generous circulation, and an owner’s suite appointed with double sinks and a soaker tub for quiet evenings at home. The home’s single-story layout makes daily living effortless, and finishes reflect solid stewardship and a comfortable, rural aesthetic.

A major selling feature is the separate in-law suite with its own entrance and split-unit heating/cooling — ideal for multigenerational households, a private home office, or long-term guest quarters. Outside, a fenced backyard provides a secure play area and easy pet management, while a 15x30 metal workshop with electricity supports hobbyists, storage needs, or small-scale agricultural support.

Practical systems include public water, septic service, Dominion Energy electric, forced-air heating with heat pump support, and a composition roof. The property also includes a detached garage and ample driveway parking. Zoned RA-25, the lot allows residential and agricultural uses with no HOA constraints, offering both lifestyle freedom and future flexibility.

This home is a strong match for buyers seeking rural space without sacrificing proximity to community resources: Downtown Elizabeth City, Sentara Albemarle Medical Center, and Elizabeth City State University are all within roughly a 10-mile radius. Buyers should confirm septic condition, roof and HVAC ages during inspection, but for those seeking a turnkey country property with an income- or family-focused in-law suite and a ready-made workshop, 505 Firetower Rd presents a distinctive and well-located opportunity.

Home Highlights

5.11-acre lot with no HOA restrictionsVersatile in-law suite with separate entrance15x30 powered metal workshopDetached garage and ample parkingOpen main living area with fireplace and built-insOwner's suite with double sinks and soaker tub

Property Features

Interior Features

  • 3 bedrooms, 3.5 bathrooms
  • Open living area with fireplace and built-ins
  • Owner's suite with double sinks and soaker tub
  • Large laundry/mudroom
  • In-law suite with separate entrance and split-unit HVAC
  • Single-story ranch layout

Exterior & Lot

  • 5.11-acre level lot (zoned RA-25)
  • 15x30 metal workshop with electricity
  • Detached garage and ample driveway parking
  • Fenced backyard
  • Log-style siding and composition roof
  • No HOA restrictions — suitable for animals and small agricultural uses

Location & Neighborhood

  • Newland area, Elizabeth City — rural setting with nearby amenities
  • Approximately 9–10 miles to Downtown Elizabeth City and local hospitals
  • Close to Elizabeth City State University
  • Stable community with modest growth
  • Public water service; Dominion Energy electric

Walkability & Recreation

  • Walkability Rating: 10/100 — Car-Dependent
  • 5+ acres provide on-site outdoor recreation and gardening space
  • Short drive to Elizabeth City parks, dining, and services (within ~10 miles)
  • Room for livestock, hobby farming, or outdoor projects
  • Quiet rural roads suitable for walking and biking

Neighborhood & Location

Set in Newland’s rural fabric, this property offers country living with straightforward access to Elizabeth City’s amenities. The neighborhood combines residential and agricultural uses, giving owners room for animals, gardens, and outdoor projects. Local institutions — downtown services, a regional medical center, and Elizabeth City State University — are all within about a ten-mile drive. Residents here value privacy, wide-open lots, and a community with modest growth and stable local character.

Market Insights

Local market dynamics currently favor buyers but reward informed offers. Pasquotank County’s corridor around Firetower Road shows a buyer’s market with roughly 3.5 months of inventory and an area average of 63 days on market — conditions that provide negotiating room. Median sale price for the local area sits near $295,000, while a targeted valuation analysis for this property places fair market value between $340,000 and $370,000 (midpoint ~$355,000), reflecting recent comparable sales within one mile and premiums for the 5.11-acre parcel, in-law suite, and powered workshop. One-year appreciation is modest at ~4.5% with five-year gains near 15%, indicating steady long-term value despite softer short-term demand.

Single-family homes with acreage remain in steady demand locally; properties offering accessory structures and separate living quarters typically attract both owner-occupant buyers and investors seeking rental upside. Estimated gross rental potential is roughly $2,000/month (approx. 6.8% gross yield), reinforcing alternative use cases. Given current inventory and days-on-market metrics, motivated buyers can negotiate, while sellers will be well-served by highlighting the property’s unique add-ons — the workshop, the in-law suite, and usable acreage — which drive buyer interest in this segment.

Nearby Schools

Northside Elementary

Elementary

7/10

Elizabeth City Middle

Middle

6/10

Pasquotank County High

High

3/10

Walkability & Recreation

10
Walkability

Excellent private outdoor space on 5.11 acres for gardening, animals, and hobby farming; short drives provide access to Elizabeth City parks and waterfront amenities within roughly 10 miles.

Investment Highlights

  • Versatile in-law suite with separate entrance and HVAC
  • 15x30 metal workshop with electricity
  • 5.11-acre lot with no HOA restrictions
  • Significant appreciation since 2020 purchase
  • Proximity to Elizabeth City amenities within 10 miles

Key Findings

  • Assessed value $258,800 (land $72K, improvements $186.8K) — annual taxes $1,788
  • Zoned RA-25 allowing residential and agricultural uses
  • Comparable sales within 1 mile in last 12 months range $330K–$375K
  • Average days on market in area: 63 days (buyer's market)

Things to Consider

  • Septic system — recommend inspection to ensure functionality
  • Age of roof and HVAC systems — verify condition and remaining lifespan
  • Distance to schools and amenities may be a consideration for some buyers

Opportunity Analysis

Well-maintained rural property with unique features such as an in-law suite and workshop, offering flexibility and potential for various uses. Significant appreciation since last sale indicates strong investment potential.

Potential Use Scenarios

  • Ideal for multi-generational living or home-based business
  • Potential for agricultural or equestrian use given lot size and zoning
  • Consider as a rental property targeting tenants seeking rural lifestyle

Risk Factors

  • Septic system maintenance and potential replacement costs
  • Distance to urban amenities may limit buyer pool
  • Market trends indicate a buyer's market, potentially affecting resale timeline

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

AI Valuation Estimate

Low

$340K

Midpoint

$355K

High

$370K

$142/SF estimated price per square foot

82% confidence

Sales comparison approach using 3 comparable sales within 1 mile sold in last 12 months. Adjusted for lot size, in-law suite, and workshop. Assessed value of $258,800 appears below market.

As of 2026-03-06

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$295,000
Avg Days on Market63 days
Inventory3.5 months
1-Year Appreciation+4.5%

Demographics

Population (1 mi)1,500
Median Income (1 mi)$55,000

Stable rural community with modest growth. Walkability Rating estimate: 10/100.

Nearby Points of Interest

  • Elizabeth City State University (9 mi)
  • Sentara Albemarle Medical Center (10 mi)
  • Downtown Elizabeth City (9.5 mi)

Rural setting with proximity to Elizabeth City amenities including shopping, dining, and educational institutions.

School District

DistrictElizabeth City-Pasquotank Public Schools
ElementaryNorthside Elementary (7/10)
MiddleElizabeth City Middle (6/10)
HighPasquotank County High (3/10)

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

Property Details

Building Details

Year Built2002
Constructionlog siding
Stories1
Roofcomposition
Heatingforced air, heat pump, electric
Coolingcentral, wall units
Basementnone
FireplaceYes
Conditiongood

Lot & Site

Lot Size5.11 acres (222,592 SF)
Topographylevel
Parkingdetached_garage_and_driveway
Parking Spaces4
FrontageFrontage on Firetower Rd

Utilities

Waterpublic
Sewerseptic
ElectricDominion Energy
Gasnone

Zoning & Land Use

Zoning CodeRA-25
DescriptionResidential Agricultural
JurisdictionPasquotank County

Allowed Uses

single family residentialagricultural usesaccessory structures
Current Useresidential
Assessor UseSingle Family Residential

Tax & Sale History

Tax Assessment

Total Assessed$258,800
Land$72,000
Improvements$186,800
Annual Tax (2025)$1,788

Sale History

2020-12-07$220,000

$88/SF

Arm's length transaction

2016-10-06$175,000

$70/SF

Arm's length transaction

Find a Local Agent

Looking to buy or sell? Connect with a licensed local agent who knows this area.

Request a Showing

Your inquiry will be connected with a licensed local real estate professional through our brokerage partner.

Are You a Local Agent?

No agency is currently featured for this market. Join the CompCasa Local Partner Program to get your brokerage placed on property pages like this one.

Learn About the Partner Program

CompCasa is a marketing and technology platform. All brokerage services are provided by licensed partners.