Active

$1,299,000

For sale

217 Fl••••• Hill Rd (Sign up for 50 free credits to unlock)Alexander, NC 28701

2Beds

2Baths

952Sq Ft Living

1,118,185Sq Ft Lot

2018Year Built

Property Description

Pegasus Hill Farm is a 25-acre equestrian estate. Discover Pegasus Hill Farm, an established 25-acre equestrian estate in the picturesque countryside of Alexander, just outside Asheville, N.C. Thoughtfully developed for professional and private equestrian pursuits, this distinctive property combines exceptional riding facilities, pastoral beauty and comfortable residential living. Completed in December 2017, the impressive equestrian barn offers approximately 18 stalls, a climate-conditioned office, tack room, feed room and laundry facilities, an interior horse wash stall with hot and cold water, and additional outdoor wash stalls. Storage and conditioned space is above the barn. Outstanding riding amenities include a spacious covered arena and a 200-by-120-foot lighted outdoor arena, both featuring premium GGT (German Geo Textile) footing and sprinkler systems for footing maintenance and dust control. A dedicated flat arena, fenced pastures, turnout paddocks and additional pasture suitable for riding further enhance the property's versatility. Currently accommodating horse boarding and riding lessons, Pegasus Hill Farm presents a compelling opportunity for equestrian professionals, trainers, and private horse enthusiasts or future home/estate development. Complementing the equestrian facilities is a charming single-level residence built in 2019, featuring two bedrooms, a den and one-and-a-half baths. Overlooking the equestrian grounds, the residence offers a wonderful connection to the beauty and daily activity of the farm. Whether continuing its established equestrian use or creating a private equestrian retreat, Pegasus Hill Farm offers a distinctive opportunity to embrace the equestrian lifestyle in Western North Carolina, convenient to Asheville and Tryon, N.C. Pisgah, Biltmore and more.

Property Facts & Features

Property Type: Single Family
Status: Active
Listed: Oct 18, 2026
Price per Sq Ft: $1364/sqft
ZIP Code: 28701
Full Baths: 1
Half Baths: 1
Stories: 1
Parking: Driveway, RV Access/Parking
Heating: Heat Pump
Cooling: Central Air
Construction: Hard Stucco
Style: Barndominium, Cottage, Farmhouse, Transitional
Property Tax (2025): $4,231/yr
Assessed Value: $608,300
Last Sold: $520,000 · Dec 17, 2015
County: Buncombe
School District: Buncombe County Schools

Estimated Value

$580,000Range $406,000 to $1,350,486

Automated estimate. Not an appraisal.

Features & Amenities

Bedrooms

Bedrooms: 2
Bedrooms On Main Level: 2
Primary Bedroom Level: Main
Bedroom 1 Level: Main

Bathrooms

Total Bathrooms: 2
Full Bathrooms: 1
1/2 Bathrooms: 1
Full Bathrooms On Main Level: 1
Half Bathrooms On Main Level: 1
Bathroom 1 Level: Main
Bathroom 2 Level: Main
Bathroom 1 Description: Full
Bathroom 2 Description: Half

Land Info

Additional Parcels: No
Lot Description: Cleared, Level, Pasture, Private, Rolling Slope, Views
Lot Size Acres: 25.67
Lot Size Square Feet: 1118185

Utilities

Sewer: Septic Installed
Electricity Connected
Water Source: Well

Appliances

Dishwasher
Electric Oven
Refrigerator
Washer/Dryer
Laundry Features: Utility Room

Other Rooms

Total Rooms: 7
Laundry Level: Main
Living Room Level: Main

Home Features

View: Long Range, Mountain(s), Year Round

Garage and Parking

Open Parking: No
Parking Features: Driveway, RV Access/Parking

Kitchen and Dining

Kitchen Level: Main

School Information

Elementary School: North Buncombe
High School: North Buncombe
Middle School: North Buncombe

Heating and Cooling

Cooling Features: Central Air
Heating Features: Heat Pump

Other Property Info

Source Listing Status: Active
County: Buncombe
Development Status: Completed
Directions: https://maps.app.goo.gl/fMuTQzM5ztpd1Vdh8 GPS will also take you.
Parcel Number: 9724-51-5579-00000
Postal Code Plus 4: 9654
Zoning: OU
Zoning Description: OU
Property Subtype: Single Family Residence

Homeowners Association

Association: No
Calculated Total Monthly Association Fees: 0

Building and Construction

Total Square Feet Living: 952
Year Built: 2018
Above Grade Finished Area: 952
BelowGradeFinishedArea: 0
Construction Materials: Hard Stucco
Foundation Details: Slab
Levels: One
Property Age: 8
Roof: Composition
Levels or Stories: One
Structure Type: Site Built
Total Above Grade Sqft Area: 952
Total Area Main: 952
Total Area Sqft: 952
Architectural Style: Barndominium, Cottage, Farmhouse, Transitional

Exterior and Lot Features

Fence
Fire Pit
In-Ground Irrigation
Other Structures: Barn(s), Feed Barn, Hay Storage
Patio And Porch Features: Deck
Road Responsibility: Publicly Maintained Road
Road Surface Type: Gravel, Paved
Deck: Yes

Amenities and Community Features

Horse Amenities: Arena, Arena covered, Barn, Boarding Facilities, Corral(s), Equestrian Facilities, Hay Storage, Horses Allowed, Paddocks, Pasture, Run in Shelter, Shaving Bin, Stable(s), Tack Room, Trailer Storage, Wash Rack

Price & Event History

Date	Event	Price	$/Sq Ft
Oct 18, 2026	Listed	$1,299,000	$1,364
Dec 17, 2015	Sold	$520,000	$546

Property Tax History

Year	Tax	Assessed	Land	Building	Market
2025	$4,231	$608,300	$305,600	$302,700	$608,300
2024	$4,049	$608,300	$305,600	$302,700	$608,300
2023	$3,969	$608,300	$320,600	$287,700	$608,300
2022	$3,778	$608,300	$320,600	$287,700	$608,300
2021	$3,778	$608,300	$320,600	$287,700	$608,300
2020	$3,555	$521,600	$283,900	$237,700	$521,600
2019	$2,917	$420,500	$283,900	$136,600	$420,500
2018	$2,935	$420,500	$283,900	$136,600	$420,500
2017	$2,771	$420,500	$283,900	$136,600	$420,500
2016	$1,414	$195,400	$195,400	-	$195,400
2015	$1,446	$199,800	$199,800	-	$199,800
2014	$2,372	$327,700	$215,600	$112,100	$327,700