128 Churchill Downs Drive, Fairview, NC

About the home

A luxury mountain retreat with a main residence and fully independent lower level suite, 15 minutes from downtown Asheville and Biltmore Estate. Three bedrooms, a four-season sunroom, wraparound decks, a private hot tub, and a self-contained guest suite with over $61,000 in documented Airbnb income. Currently an Airbnb super-host and no HOA restrictions against short or long term rentals. Turnkey and move-in ready. Thoughtfully designed for both everyday comfort and effortless entertaining, the home features a main-level primary suite, a bright four-season sunroom, and expansive living spaces filled with natural light. Offering remarkable flexibility, the two bedroom upper level includes a spacious bonus area ideal for a home office, music room, art studio, or media lounge. The lower level features two additional bonus rooms perfect for guest accommodations, a fitness space, hobby rooms, or additional storage. Also on the lower level is a wired media and family room, along with private guest quarters and a separate entrance—ideal for visitors, multigenerational living, or continued Airbnb income potential. Outdoor living is equally impressive, showcasing a spectacular two-level wraparound deck, beautifully tiered gardens, a fire pit, and a private hot tub retreat perfectly positioned to enjoy the peaceful surroundings and mountain air. Additional highlights include a spacious triple garage and abundant storage throughout. Residents of Fairview Downs enjoy access to community amenities including a walking path, a creekside park, picnic pavilion, playground, and serene green spaces. Conveniently located just minutes from shopping, dining, the Biltmore Estate, and downtown Asheville, this rare turnkey property offers an exceptional blend of luxury, privacy, and convenience in one of Western North Carolina’s most desirable communities.

Price in context

• Asking $264 per square foot.
• That is 24% below the $347 median across 17 active $1.5M+ homes in Fairview.
• 14th highest asking price of 17 active $1.5M+ homes in Fairview.
• 4th largest by living area of the 17 with a recorded size.
• Asking price raised $41,000 from the original $1,099,000.
• 153 days on the market, listed 2026-05-07.
• County tax assessment $1,019,100; the asking price is 1.12× the assessed value.
• HOA dues $120 (quarterly).

Location

Neighborhood: Fairview Downs, Buncombe County, ZIP 28730.

Assigned schools

• Elementary: Fairview
• Middle: Cane Creek
• High: Ac Reynolds

School assignments come from the listing and can change; confirm with the district.

Features

Levels

One and One Half

Construction

Fiber Cement

Roof

Asbestos Shingle

Bathrooms

3 full, 1 half

Basement

Bath/Stubbed, Daylight, Finished, Interior Entry, Storage Space, Walk-Out Access, Walk-Up Access

Fireplace

Yes

Flooring

Carpet, Tile, Wood

Kitchen & appliances

Dishwasher, Electric Oven, Electric Range, Electric Water Heater, Microwave, Refrigerator

Heating

Forced Air, Heat Pump, Propane

Cooling

Central Air

Garage

3 spaces

Parking

Attached Garage

Exterior

Hot Tub

Lot

Private, Wooded

County

Buncombe

Comparable homes on the market

• 8 Lakeview Drive, Fairview — $2,495,000, 4 bd, 3,602 sq ft, 0.7 mi away
• 1 East Owl Creek Lane, Fairview — $1,094,000, 5 bd, 3,495 sq ft, 0.8 mi away
• 15 E Owl Creek Lane, Fairview — $1,198,000, 3 bd, 3,708 sq ft, 0.8 mi away
• 25 E Owl Creek Lane, Fairview — $1,080,000, 5 bd, 3,520 sq ft, 0.9 mi away
• 20 East Owl Creek Lane, Fairview — $1,299,000, 5 bd, 4,588 sq ft, 0.9 mi away
• 2 Cherokee Orchard Court, Fairview — $2,195,000, 4 bd, 4,660 sq ft, 1.1 mi away

See it privately

Nicholas and Miriam Peters show every home personally. Peters & Associates, 4401 Barclay Downs Dr #132, Charlotte, NC 28209. Office 704-264-4572. Request a private showing.