Mill Spring · Mill Spring, NC
1194 Palmer Road
Mill Spring, NC · 1,036 sqft
$5,500,000
- 2Beds
- 2Baths
- 1,036SqFt
- 1998Year
- 1Days on market
About this home
Perfectly set on nearly 350 acres of prime mountain land, Water Wheel Farm represents a rare opportunity to acquire a special large tract in the foothills of the Blue Ridge, just minutes from the neighboring Bright's Creek community and golf course. The namesake historical water wheel welcomes you into this exceptional property that features two 2-bedroom, 2-bath homes, buried power infrastructure, multiple pocket pastures, springs and creeks, abundant wildlife, and an existing network of well-maintained roads providing easy access throughout from the paved public road. The land offers a remarkable combination of privacy, usability, and development potential. Multiple broad knobs and ridge tops provide outstanding homesite opportunities, where selective clearing will reveal breathtaking long-range mountain vistas. Re-open extensive (but partially overgrown) pocket pastures to create an extraordinary equestrian property. Potential views of the Blue Ridge Escarpment are truly spectacular and could rival some of the finest in the region. The choice location is a short drove from the Green River, Lake Adger, Hendersonille, Tryon Int'l Equestrian Center, and more. Whether envisioned as a private mountain estate, family compound, recreational retreat, equestrian property, land investment, or future development opportunity, this unique offering combines natural beauty, existing infrastructure, and exceptional accessibility in one of Western North Carolina’s most desirable locations.
Property details
- Beds
- 2
- Baths
- 2
- SqFt
- 1,036
- Lot
- —
- Year built
- 1998
- Type
- Single Family
- Days on market
- 1
- Style
- Cabin
- Heating
- Heat Pump
- Cooling
- Heat Pump
- Foundation
- Basement
Payment estimate
Estimated monthly payment
Includes P&I, tax, insurance
$40,479/ month
- Principal & interest
- $34,063
- Property tax (~1.05%)
- $4,812
- Homeowners insurance
- $1,604
- HOA dues
- —
Down payment
$275,000 down · $5,225,000 financed
Income to qualify (28% rule)
~$1,734,846 / year household
A rough rule — actual qualification depends on your full debt picture, credit, and the lender. John can introduce you to lenders he trusts.
Numbers are a directional estimate. Actual monthly cost varies by lender, credit, taxes assessed at closing, and insurance carrier. This is not a loan offer or pre-approval.