Sales comparison approach using 3 comparable sales within 0.5 miles sold in last 6 months. Adjusted for renovation quality, lot size, and bedroom count. Assessed value of $322,900 appears below market.
Updated 1905 Bungalow with Mountain Views in River Arts District
Perched high on Chicken Hill with direct sightlines toward Asheville’s ridgelines, 60 Park Square is a 1905 bungalow that trades generic charm for honest, lived-in character and thoughtful updates. Hardwood floors run through the main living spaces; the living room’s fireplace and original millwork sit alongside modern comforts. The house’s elevated lot provides the mountain views that buyers seek while remaining only a short stroll from the River Arts District’s galleries and working studios.
The heart of the home is an updated kitchen and a pair of renovated bathrooms that balance period details with contemporary finishes. The floor plan extends into a fully finished basement that expands usable square footage for a home office, media room, or rental suite. Speaking to flexible living arrangements, the property includes an in-law suite with its own separate entrance—ideal for multi-generational living or long-term rental income.
Practical features matter here: a gravel driveway with space for one vehicle, gas hot-air heating, window A/C units, and a shingle roof. The house shows attention to systems and cosmetic updates, but its 1905 construction means buyers should schedule a full inspection to verify foundation, plumbing, and electrical components. The finished basement and updated interior reduce near-term capital expenses while offering immediate functionality.
Outside, the compact 0.08-acre lot is elevated and city-maintained, contributing to the home’s sense of privacy despite being blocks from downtown. With RM8 zoning in place, the property carries potential for future multi-family use subject to city approvals—an attractive option for investors or buyers wanting upside. Recent comparable sales in the neighborhood support a pricing range consistent with the list value; the River Arts District’s continued revitalization makes this house a pragmatic entry into one of Asheville’s most dynamic pockets.
This is a liveable, well-updated historic home for someone who values proximity to cultural amenities: walk to studios, cross over to downtown dining, or ride into the greenways along the French Broad. Whether purchased as a primary residence with rental flexibility or as an investment with redevelopment potential, 60 Park Square pairs tangible updates with location-driven upside.
See the properties helping shape the valuation.
Comparable sales
- 307 SF smaller
- 0.5 additional bathrooms
- 1,515 SF larger lot
- 15 years newer
- 53 SF larger
- 2,515 SF larger lot
- 10 years newer
- 350 SF smaller
- 1,015 SF larger lot
- 25 years newer
A 1905 bungalow on 0.08 acres.
Building
Site & utilities
River Arts District
Researched nearby locations
Location
60 Park Square, Asheville, NC 28801
The River Arts District blends working artist studios, galleries, craft breweries, and riverfront greenways into one of Asheville’s most walkable and creative neighborhoods. Residents enjoy regular art walks, easy access to downtown dining and shopping, and outdoor recreation along the French Broad River and Carrier Park. The area has seen steady revitalization, attracting young professionals, artists, and buyers who prioritize proximity to cultural amenities and an active urban lifestyle. School ratings vary locally, so families often weigh public and private options when moving into the neighborhood.
Excellent local access to arts and river recreation: River Arts District galleries are steps away, Carrier Park and the French Broad River greenways are within about 1–1.5 miles, and multiple breweries, trails, and outdoor venues are nearby.
A factual market snapshot around 60 Park Square.
The River Arts District currently trades as a balanced market with rising long-term values. Inventory sits near 2.5 months—below a neutral 6-month supply—while average days on market hover around 35, indicating steady buyer activity without intense bidding wars. Median sale prices in the immediate area are reported near $450,000; recent comparable sales within a half-mile produced a valuation band roughly $474K–$525K, supporting the property's midpoint estimate of about $499,500 ($334/SF). Single-family bungalows and historic cottages in this corridor typically sell within a month when well-presented and priced, and they attract both owner-occupant buyers and investors drawn to short-term rental and long-term lease demand.
For investors, local rental comps indicate estimated monthly rents around $2,100–$2,350 for comparable renovated 3BR homes, supporting a gross rental yield in the neighborhood. For owner-occupants, the area’s walkability to galleries, breweries, downtown restaurants, and the French Broad River adds lifestyle value that isn’t fully captured by tax assessments: the county assessed value here lags market sales. Given steady appreciation (roughly 5% year-over-year and ~25% over five years for the neighborhood), this is a good time to consider properties with both immediate livability and zoning flexibility like RM8, which may allow future multi-family conversion subject to municipal approvals. Due diligence on roof age, mechanicals, and permitted renovations is recommended before purchase.
Residential Multi-Family Medium Density District
Zoning
Research-indicated uses
- Single Family
- Multi Family
- Community/Recreation Center
- Library
- Park & Open Space
Assessment data and recorded transactions.
Assessed value is kept visually separate from the CompCasa market-value estimate.
Tax assessment
Sale history
Rental references from the research record.
Context only—not an investment recommendation or guarantee of achievable rent.
Supporting lease references
- 6 SF larger
- 6 SF larger
What the research supports — and what is still worth verifying.
Key findings
- County assessor shows 2015 purchase at $296,000 ($198/SF) — current estimate $499,500 ($334/SF)
- Assessed value $322,900 (land $100,900, improvements $222,000) — annual taxes $3,467
- Zoned RM8 — allows for single-family and multi-family development
- 3 comparable sales within 0.5 miles in last 6 months range $474K–$525K
- Average days on market in River Arts District: 35 days (balanced market)
Still worth verifying
Routine buyer due diligence items; these are not known defects.
- Confirm lot dimensions and boundaries
- Verify renovation permits were properly pulled
- Confirm zoning restrictions and allowances
- Professional home inspection
- Roof condition assessment
What stands out about this property.
Interior Features
- 3 bedrooms, 2 bathrooms
- Hardwood floors throughout main level
- Updated kitchen
- Renovated bathrooms
- Fully finished basement — additional living space
- In-law suite with separate entrance
- Working fireplace
- Gas hot-air heating
- Window A/C units
Exterior & Lot
- Elevated 0.08-acre lot on Chicken Hill
- Mountain views from upper levels
- Gravel driveway with parking for one vehicle
- Shingle roof
- Frontage on Park Square
Location & Neighborhood
- River Arts District — walking distance to galleries and studios
- 0.5 miles to Downtown Asheville
- Near New Belgium Brewing (0.7 mi) and Carrier Park (1.2 mi)
- Close to French Broad River greenways
- RM8 zoning (Residential Multi-Family Medium Density)
Walkability & Recreation
- Walkability Rating: 75/100 — Some errands and many amenities on foot
- River Arts District galleries and studios within a few blocks
- Carrier Park and French Broad River greenways within ~1–1.5 miles
- Nearby breweries, cafes, and restaurants in downtown Asheville
- Opportunities for biking and river-based recreation nearby
- Community recreational options and art events year-round
Sources & research confidence.
See where the property research came from and how confidence varies by field.