$355,000
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
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.
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.
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.
Northside Elementary
Elementary
Elizabeth City Middle
Middle
Pasquotank County High
High
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.
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.
Buyers should conduct independent due diligence before making any purchase decisions.
Low
$340K
Midpoint
$355K
High
$370K
$142/SF estimated price per square foot
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.
Stable rural community with modest growth. Walkability Rating estimate: 10/100.
Rural setting with proximity to Elizabeth City amenities including shopping, dining, and educational institutions.
Market data is based on aggregated public records and may not reflect real-time conditions.
Allowed Uses
$88/SF
Arm's length transaction
$70/SF
Arm's length transaction
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