$5.25 million riverfront estate highest-priced listing in Madison County, says Sotheby's

Ryley Ober, Asheville Citizen Times
·2 min read

Yet another multimillion-dollar property has been added to Western North Carolina’s hot housing market.

An 8,207 square-foot home in Marshall was listed June 7 with a price tag of $5.25 million – making it the most expensive home in Madison County, according to Premier Sotheby’s International Realty.

Built in 1999, this five-bedroom, five-bath estate has an appraised value of $835,895, which puts its listing price more than $4.4 million over value, according to county records. The house, located at 714 Frank Rector Road, sits on 62 acres with direct views of the French Broad River, Mount Mitchell and Black Mountain.

“This incredible property is one of finest in the region,” Mukunda Pacifici, the listing agent representing the property for Premier Sotheby’s International Realty, said in a press release. “Offering privacy, seclusion and state-of-the-art features among a lush natural setting, the discerning buyer will appreciate the serenity of its expansive grounds and potential for exceptional mountain living.”

714 Frank Rector Rd, which is listed at $5.25 million, is the most-expensive house currently for sale in Madison County. The home sits on 62-acres and has 1,600 feet of French Broad River frontage.
714 Frank Rector Rd, which is listed at $5.25 million, is the most-expensive house currently for sale in Madison County. The home sits on 62-acres and has 1,600 feet of French Broad River frontage.

The home, which is currently on the market, was previously sold in June 2003 for $650,000. Since then, a primary suite was added to the home, and all structures on the property were remodeled or rebuilt.

For subscribers: 'Instant equity': Asheville house appreciates $265,420 or 84% in 2 years

Related news: 3 bedrooms for $2.7 million? A look at Asheville's 10 most expensive homes sold this year

Other features include a garage with a separate apartment, custom barn with an apartment, hay barn, two chicken coops, whole-home generators, two deep-water wells and backup solar. Two mountain springs, streams, waterfalls and 1,600 feet of French Broad River frontage are accessible on this property.

The nearest-priced home currently for sale in Madison County – a four bedroom, four bath, 5,795 square-foot house for $2.5 million – is less than half the cost of this listing.

The interior of 714 Frank Rector Road features modern farmhouse design. The home is currently on the market for $5.25 million.
The interior of 714 Frank Rector Road features modern farmhouse design. The home is currently on the market for $5.25 million.

The most expensive homes sold in the county this year were also listed way below the $5.25 million price tag. A four bedroom, four bath, 3,394 square-foot home with 89 acres at 139 S Halewood Road in Marshall sold on Jan. 7 for $2.3 million, making it the highest-priced sale in the county, according to Zillow. The second-most expensive house sold this year goes to 342 Wonder Lane in Marshall, a two bedroom, one bath, 1,696 square-foot home with 163 acres that sold on June 22 for $1.5 million.

Ryley Ober is a news intern with the Asheville Citizen Times, part of the USA Today Network. News tips? Email her at ROber@gannett.com and follow her on Twitter @ryleyober

This article originally appeared on Asheville Citizen Times: Madison County's highest-priced listing: $5.25M Marshall home