CompCasa Property Analysis · single_family

60 Park Square

Updated 1905 Bungalow with Mountain Views in River Arts District

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

3 beds2 baths1,494 sq ftBuilt 19050.08 acresnone
CompCasa valuation analysis
Estimated market value
$499,500
Low $474,000 · Midpoint $499,500 · High $525,000
Confidence82%Sales comparison approach
Last recorded sale$296,000Dec 14, 2015
Assessed value$322,9002025 assessment
CompCasa estimate$499,500Apr 22, 2026
Estimate vs. last recorded sale+$203,500 / +68.8%
$474,000$499,500 midpoint$525,000
Price / sq ft$334
Median sale price$450,000
Avg days on market35 days
Inventory2.5 months

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.

About the property

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.

Comparable evidence

See the properties helping shape the valuation.

Comparable sales

01Sold price$380,000
Property address69 Jefferson Dr, Asheville, NC 28801
3 bed2.5 bath1,187 sq ftBuilt 19200.3 mi5,000 sq ft lot$320/SF
Sold Aug 25, 2025
Subject difference
  • 307 SF smaller
  • 0.5 additional bathrooms
  • 1,515 SF larger lot
  • 15 years newer
Research comparison noteSimilar historic bungalow, updated interior, smaller lot
02Sold price$395,000
Property address65 Westover Dr, Asheville, NC 28801
3 bed2 bath1,547 sq ftBuilt 19150.4 mi6,000 sq ft lot$255/SF
Sold Sep 30, 2025
Subject difference
  • 53 SF larger
  • 2,515 SF larger lot
  • 10 years newer
Research comparison noteHistoric home with modern updates, larger lot
03Sold price$400,000
Property address40 Tremont St, Asheville, NC 28806
3 bed2 bath1,144 sq ftBuilt 19300.5 mi4,500 sq ft lot$350/SF
Sold Oct 1, 2025
Subject difference
  • 350 SF smaller
  • 1,015 SF larger lot
  • 25 years newer
Research comparison noteSmaller historic home, fully renovated, comparable location
Comp methodology: Focused on historic bungalows within 0.5 miles in River Arts District sold in last 6 months for maximum relevance
Property details

A 1905 bungalow on 0.08 acres.

Building

Year built1905
ConstructionWood Frame
RoofShingle
Heatinggas_hot_air
Coolingwindow_units

Site & utilities

Lot size0.08 acres
Garagenone
Stories2
ConditionGood
BasementFully Finished
FireplaceYes
Improvement notes3 bedrooms, 2 bathrooms, hardwood floors, updated kitchen and bathrooms, in-law suite with separate entrance
Lot area3,485 sq ft
TopographyElevated
FrontageFrontage on Park Square
ParkingGravel Driveway
Parking spaces1
Parking notesGravel driveway with space for one vehicle
AccessStandard residential access from Park Square
WaterMunicipal
SewerMunicipal
ElectricDuke Energy
GasPiedmont Natural Gas
Location & nearby

River Arts District

Researched nearby locations

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)

Location

60 Park Square, Asheville, NC 28801

View in Google Maps
Editorial neighborhood context

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.

Nearby access summary

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.

ElementaryIsaac Dickson Elementary (5/10)
Middle schoolAsheville Middle (7/10)
High schoolAsheville High (5/10)
School districtAsheville City Schools
Market context

A factual market snapshot around 60 Park Square.

Median sale price$450,000
Avg days on market35 days
Inventory2.5 months
1-year appreciation5.0%
5-year appreciation25.0%
Editorial market perspective

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.

Zoning & land use

Residential Multi-Family Medium Density District

Zoning

Zoning codeRM8
DescriptionResidential Multi-Family Medium Density District
JurisdictionCity of Asheville
Assessor useSingle Family Residential
Current useResidential
SetbacksFront 20', side 10', rear 15'

Research-indicated uses

  • Single Family
  • Multi Family
  • Community/Recreation Center
  • Library
  • Park & Open Space
Verify with the jurisdiction: Zoning, setbacks, and allowed-use summaries are research indicators—not legal advice or a determination that a specific use is permitted.
Tax & sale history

Assessment data and recorded transactions.

Assessed value is kept visually separate from the CompCasa market-value estimate.

Tax assessment

Assessed land$100,900
Assessed improvements$222,000
Total assessed$322,900
Assessment year2025
Annual property tax$3,467
Tax year2025

Sale history

2015-12-14$296,000 · $198/SF
2012-05-14$220,000 · $147/SF
Rental market context

Rental references from the research record.

Context only—not an investment recommendation or guarantee of achievable rent.

Supporting lease references

01Monthly rent$2,350/mo
Property address920 Pecan Ave, Asheville, NC 28801
3 bed2 bath1,500 sq ft$1.57/SF
Leased Aug 1, 2025
Subject difference
  • 6 SF larger
Research comparison noteSimilar size bungalow, renovated, desirable location
02Monthly rent$2,100/mo
Property address508 Chesterfield Ave, Asheville, NC 28801
3 bed2 bath1,500 sq ft$1.4/SF
Leased Jul 15, 2025
Subject difference
  • 6 SF larger
Research comparison noteComparable size and condition, slightly less updated
Research findings & due diligence

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
Highlights & features

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
Research transparency

Sources & research confidence.

See where the property research came from and how confidence varies by field.

View sources & confidence
1
Realtor.com listing for 60 Park SquareView source
2
Buncombe County tax assessment recordsView source
3
City of Asheville zoning informationView source
4
Redfin listing for 60 Park SquareView source
Important: This analysis is AI-assisted and may contain inaccuracies. It is not a formal appraisal. Verify all critical facts with primary records, licensed professionals, and on-site inspection before making purchase decisions.