Quaint cottage on an exceptional lot in Lake Toxaway Estates. Set on over half an acre of nearly level property that gently slopes to the shoreline of North Carolina’s largest private lake, the home offers open water and full mountain views with Toxaway Mountain in the background. Tastefully updated and designed for easy living, the home features 3 bedrooms plus a flex room and an open living-dining-kitchen layout. Ideal for gathering with family and friends, most areas boast views over the lawn and out to the lake.
The main level includes a primary suite and a secondary flex room/sleeping space with an ensuite bath, while an additional bedroom and bunkroom above share a connecting bath. Natural light fills the sunroom, and an additional enclosed porch provides a great space for casual entertaining, complete with grill, refrigerator, and prep area.
Outside, the property truly stands out: a rare, nearly level lawn leads to a large stone waterfront seating area and covered dock for easy days on the water. Located just off Cold Mountain Road and set back along a winding driveway for privacy, this is a unique opportunity to own a lakefront home with wide water views in one of Lake Toxaway’s most beautiful settings.
Active
$3,250,000
987 Cold Mountain Rd, Lake Toxaway, NC 28747
3beds
2,338sqft
Est.:
Single Family Residence
Built in 1973
0.6 Acres Lot
$3,009,900 Zestimate®
$1,390/sqft
$441/mo HOA
What's special
Quaint cottageRare nearly level lawnTastefully updatedOpen living-dining-kitchen layoutPrimary suiteExceptional lotDesigned for easy living
- 27 days |
- 1,093 |
- 34 |
Zillow last checked: 7 hours ago
Listing updated: March 18, 2026 at 06:15am
Listing Provided by:
Amanda Jennings Gravley ajennings@fisherrealtync.com,
Fisher Realty,Sapphire/Toxaway
Source: Canopy MLS as distributed by MLS GRID,MLS#: 4354164
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 3
- Full bathrooms: 3
- Main level bedrooms: 1
Primary bedroom
- Level: Main
Bedroom s
- Level: Upper
Bedroom s
- Level: Upper
Bathroom full
- Level: Main
Bathroom full
- Level: Main
Bathroom full
- Level: Upper
Dining area
- Level: Main
Flex space
- Level: Main
Kitchen
- Level: Main
Living room
- Level: Main
Sunroom
- Level: Main
Heating
- Electric, Forced Air, Propane
Cooling
- Central Air, Electric
Appliances
- Included: Dishwasher, Dryer, Electric Oven, Microwave, Washer
- Laundry: In Kitchen
Features
- Open Floorplan, Storage
- Has basement: No
- Fireplace features: Living Room
Interior area
- Total structure area: 2,338
- Total interior livable area: 2,338 sqft
- Finished area above ground: 2,338
- Finished area below ground: 0
Video & virtual tour
Property
Parking
- Total spaces: 2
- Parking features: Attached Carport, Driveway, Parking Space(s)
- Carport spaces: 2
- Has uncovered spaces: Yes
Features
- Levels: Two
- Stories: 2
- Patio & porch: Patio, Screened
- Has view: Yes
- View description: Mountain(s), Water, Year Round
- Has water view: Yes
- Water view: Water
- Waterfront features: Boat Ramp – Community, Boat Slip – Community, Dock, Retaining Wall, Waterfront
- Body of water: Lake Toxaway
Lot
- Size: 0.6 Acres
- Features: Green Area, Level, Views
Details
- Additional structures: Boat House
- Parcel number: 8522192681000
- Zoning: Res
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Brick Partial, Wood
- Foundation: Crawl Space
Condition
- New construction: No
- Year built: 1973
Utilities & green energy
- Sewer: Septic Installed
- Water: Well
Community & HOA
Community
- Features: Boat Storage, Lake Access, Picnic Area, Playground, Walking Trails, Other
- Subdivision: Lake Toxaway Estates
HOA
- Has HOA: Yes
- HOA fee: $5,292 annually
- HOA name: IPM/Lake Toxaway Community Association
- HOA phone: 828-966-9453
Location
- Region: Lake Toxaway
- Elevation: 3000 Feet
Financial & listing details
- Price per square foot: $1,390/sqft
- Tax assessed value: $2,012,730
- Annual tax amount: $6,995
- Date on market: 3/7/2026
- Cumulative days on market: 28 days
- Listing terms: Cash,Conventional
- Road surface type: Asphalt, Gravel, Paved
Estimated market value
$3,009,900
$2.86M - $3.16M
$2,859/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 3/7/2026 | Listed for sale | $3,250,000$1,390/sqft |
Source:  Canopy MLS as distributed by MLS GRID #4354164 Report a problem | ||
| 1/19/2026 | Listing removed | -- |
Source: Owner Report a problem | ||
| 10/21/2025 | Listed for sale | $3,250,000+30%$1,390/sqft |
Source: Owner Report a problem | ||
| 9/9/2024 | Listing removed | $2,500,000-23.1%$1,069/sqft |
Source: Canopy MLS as distributed by MLS GRID #4070374 Report a problem | ||
| 7/6/2024 | Price change | $3,250,000-7.1%$1,390/sqft |
Source: Canopy MLS as distributed by MLS GRID #4070374 Report a problem | ||
| 9/19/2023 | Listed for sale | $3,500,000$1,497/sqft |
Source: HCMLS #102978 Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $6,995 | $1,062,620 |
| 2023 | $6,995 | $1,062,620 |
| 2022 | $6,995 +0.8% | $1,062,620 |
| 2021 | $6,942 -18% | $1,062,620 -12.6% |
| 2020 | $8,462 +0.7% | $1,215,840 |
| 2019 | $8,401 +22.2% | $1,215,840 |
| 2018 | $6,874 | $1,215,840 |
| 2017 | -- | $1,215,840 |
| 2016 | -- | $1,215,840 -14.1% |
| 2015 | -- | $1,415,950 |
| 2014 | -- | $1,415,950 |
| 2013 | -- | $1,415,950 |
| 2012 | -- | $1,415,950 |
| 2011 | -- | $1,415,950 |
| 2010 | -- | $1,415,950 |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$17,728/mo
Principal & interest
$16041
Property taxes
$1246
HOA Fees
$441
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Climate risks
Neighborhood: 28747
Nearby schools
GreatSchools rating
- 3/10T C Henderson ElementaryGrades: PK-5Distance: 3.3 mi
- 8/10Rosman MiddleGrades: 6-8Distance: 7 mi
- 7/10Rosman HighGrades: 9-12Distance: 7 mi
Schools provided by the listing agent
- Elementary: T.C. Henderson
- Middle: Rosman
- High: Rosman
Source: Canopy MLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
Local experts in 28747
- North Carolina
- Transylvania County
- Lake Toxaway
- 28747
- 987 Cold Mountain Rd
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