Property listing for 60 Park Square, Asheville, NC 28801
For SaleSingle Family Home

$499,500

60 Park Square, Asheville, NC 28801

Updated 1905 Bungalow with Mountain Views in River Arts District

3 Bed · 2 Bath · 1,494 Sq Ft

Historic character, finished basement, in-law suite — steps from galleries and downtown

3

Beds

2

Baths

1,494

Sq Ft

1905

Built

0.08 acres

Lot

About 60 Park Square

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.

Home Highlights

Move-in ready with recent kitchen and bath updatesIn-law suite with separate entranceFully finished basement for flexible living or rental useElevated lot with mountain viewsLocated in the revitalized River Arts DistrictRM8 zoning offers potential multi-family upsideEstimated monthly rent: ~$2,200

Property Features

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

Neighborhood & Location

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.

Market Insights

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.

Nearby Schools

Isaac Dickson Elementary

Elementary

5/10

Asheville Middle

Middle

7/10

Asheville High

High

5/10

Walkability & Recreation

75
Walkability
78
Recreation

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.

Investment Highlights

  • Updated kitchen and bathrooms reduce near-term capex
  • River Arts District — significant revitalization and growth over the past decade
  • Walkable to galleries, studios, and downtown Asheville's dining and shopping
  • Mountain views from elevated position on Chicken Hill
  • RM8 zoning allows for potential multi-family development
  • Fully finished basement adds additional living space

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)

Things to Consider

  • Built in 1905 — foundation, plumbing, and electrical systems should be inspected
  • RM8 zoning may have specific development restrictions
  • Elementary and high schools rated 5/10 — may impact family buyer interest
  • Roof age unknown — shingle roofs typically last 20-25 years

Opportunity Analysis

Well-maintained bungalow in Asheville's dynamic River Arts District with modern updates and below-assessed-value pricing. RM8 zoning and strong rental market create additional upside. Balanced inventory and steady demand suggest strong resale trajectory.

Potential Use Scenarios

  • Potential primary residence in walkable neighborhood
  • RM8 zoning allows for potential multi-family development — estimated rental income $1,500-2,000/mo per unit
  • Comparable rentals suggest estimated rent of $2,200/mo if used as investment property

Risk Factors

  • 1905 construction — hidden maintenance costs possible
  • Zoning restrictions may limit development options
  • School ratings may deter some family buyers

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

AI Valuation Estimate

Low

$474K

Midpoint

$500K

High

$525K

$334/SF estimated price per square foot

82% confidence

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.

As of 2026-04-22

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$450,000
Avg Days on Market35 days
Inventory2.5 months
1-Year Appreciation+5.0%

Demographics

Population (1 mi)8,000
Median Income (1 mi)$55,000

River Arts District has seen significant revitalization and growth over the past decade, attracting artists and young professionals. Walkability Rating estimate: 75/100.

Nearby Points of Interest

  • River Arts District (0.1 mi)
  • Downtown Asheville (0.5 mi)
  • New Belgium Brewing Company (0.7 mi)
  • Carrier Park (1.2 mi)
  • French Broad River Park (1.5 mi)

Walking distance to River Arts District galleries and studios. Close proximity to downtown Asheville's dining and shopping. Near parks and the French Broad River for outdoor activities.

School District

DistrictAsheville City Schools
ElementaryIsaac Dickson Elementary (5/10)
MiddleAsheville Middle (7/10)
HighAsheville High (5/10)

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

Property Details

Building Details

Year Built1905
Constructionwood_frame
Stories2
Roofshingle
Heatinggas_hot_air
Coolingwindow_units
Basementfully finished
FireplaceYes
Conditiongood

Lot & Site

Lot Size0.08 acres (3,485 SF)
Topographyelevated
Parkinggravel_driveway
Parking Spaces1
FrontageFrontage on Park Square

Utilities

Watermunicipal
Sewermunicipal
ElectricDuke Energy
GasPiedmont Natural Gas

Zoning & Land Use

Zoning CodeRM8
DescriptionResidential Multi-Family Medium Density District
JurisdictionCity of Asheville

Allowed Uses

single familymulti familycommunity/recreation centerlibrarypark & open space
Current Useresidential
Assessor UseSingle Family Residential

Tax & Sale History

Tax Assessment

Total Assessed$322,900
Land$100,900
Improvements$222,000
Annual Tax (2025)$3,467

Sale History

2015-12-14$296,000

$198/SF

Arm's length transaction

2012-05-14$220,000

$147/SF

Standard sale

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