361 Rainbow Lake Drive

Brevard NC 28712

1108 sq. ft.

1.45 ac.

Single-Family

Last sold for $293,000

Isaac Allen, last sold this property on 18 March 2026 after 101 days on market.

Overview

Charming and updated, this two bedroom cottage is ready for new owners. The one level living with storage below could be a year-round or seasonal residence for you. The living room and kitchen area feels open and bright with abundant natural light flowing through the space and classic, cabin style cabinetry and counters. There is a front covered porch overlooking the front yard and gardens and a side open 10x10 sun deck and potting shed. The open level lot features an established garden area, and fire-pit area with impressive rock retaining wall. This property captures the essence of outdoor living in the mountains. This private location is only 15 minutes to downtown Brevard, less than 5 minutes to world class trout rivers on East Fork and downtown Rosman only a few miles away. The cell phone reception is two bars with Verizon and the internet speed is 82 Mbps down and 32Mbps upload, more than enough for streaming and working remotely. The home does have central heat and air with a back up propane heater that works even if the power is out. In the summer, the wooded lot offers a shaded canopy keeping you cool and in winter the sunlight pours in with southern exposure. Under the house is room to store your toys and is where the HVAC system is located. If you are looking for entry level mountain living and want a home that is move-in ready in this price range, take a serious look at what this property offers. No HOA or dues in the Rainbow Lake community.

Features

2 bedrooms

1 bathroom

1108 sq. ft. floor area

1.45 ac. lot size

Single-Family

Estimated Value

Based on this property and similar 2 bedroom single-family properties sold in Brevard over the last 12 months, the estimated median property value of 361 Rainbow Lake Drive is $375k.

Median value

$375k

Estimated value range

$70k - $676k

Median days on market

Estimated value trend

-12%

decrease over the last 12 months

Average days on market is based on recent, comparable sales in Brevard. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.