Perfectly set on nearly 350 acres of prime mountain land, Watermill Farm represents a rare opportunity to acquire a special large tract in the foothills of the Blue Ridge, just minutes from the neighboring Bright's Creek community and golf course. The namesake historical water wheel welcomes you into this exceptional property that features two 2-bedroom, 2-bath homes, buried power infrastructure, multiple pocket pastures, springs and creeks, abundant wildlife, and an existing network of well-maintained roads providing easy access throughout from the paved public road. The land offers a remarkable combination of privacy, usability, and development potential. Multiple broad knobs and ridge tops provide outstanding homesite opportunities, where selective clearing will reveal breathtaking long-range mountain vistas. Re-open extensive (but partially overgrown) pocket pastures to create an extraordinary equestrian property. Potential views of the Blue Ridge Escarpment are truly spectacular and could rival some of the finest in the region. The choice location is a short drove from the Green River, Lake Adger, Hendersonille, Tryon Int'l Equestrian Center, and more. Whether envisioned as a private mountain estate, family compound, recreational retreat, equestrian property, land investment, or future development opportunity, this unique offering combines natural beauty, existing infrastructure, and exceptional accessibility in one of Western North Carolina’s most desirable locations.
Active
Price cut: $275K (8/21)
$5,225,000
1194 Palmer Rd, Mill Spring, NC 28756
2beds
1,036sqft
Single Family Residence
Built in 1998
349.24 Acres Lot
$-- Zestimate®
$5,043/sqft
$-- HOA
What's special
Multiple pocket pasturesBreathtaking long-range mountain vistasSprings and creeksHistorical water wheelAbundant wildlifeExtraordinary equestrian property
- 81 days
- 393
- 30
Zillow last checked:
Listing updated:
Listed by:
Joe Scott josephscott@kw.com,
Keller Williams Professionals,
Collin O'Berry,
Keller Williams Professionals
Source: Canopy MLS as distributed by MLS GRID,MLS#: 4393766
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
- Full bathrooms: 2
- Main level bedrooms: 2
Primary bedroom
- Level: Main
Bedroom s
- Level: Main
Bathroom full
- Level: Main
Bathroom full
- Level: Main
Kitchen
- Level: Main
Living room
- Level: Main
Heating
- Heat Pump
Cooling
- Heat Pump
Appliances
- Included: Other, None
- Laundry: Other
Features
- Basement: Other
- Fireplace features: Living Room, Wood Burning Stove
Interior area
- Total structure area: 1,036
- Total interior livable area: 1,036 sqft
- Finished area above ground: 1,036
- Finished area below ground: 0
Property
Parking
- Parking features: Circular Driveway, Driveway, Parking Space(s)
- Has uncovered spaces: Yes
Features
- Levels: One
- Stories: 1
- On waterfront: Yes
- Waterfront features: None, Creek, Creek/Stream, Waterfront
- Body of water: Creek
Lot
- Size: 349.24 Acres
- Features: Cleared, Flood Fringe Area, Green Area, Pasture, Private, Rolling Slope, Steep Slope, Wooded, Views, Waterfall, Wetlands
Details
- Additional structures: Shed(s)
- Parcel number: P2919
- Zoning: OPEN
- Special conditions: Standard
- Horse amenities: Pasture
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Cabin
- Property subtype: Single Family Residence
Materials
- Hardboard Siding, Wood
- Roof: Metal
Condition
- New construction: No
- Year built: 1998
Utilities & green energy
- Sewer: Septic Installed
- Water: Well
- Utilities for property: Electricity Connected, Satellite Internet Available
Community & HOA
Community
- Subdivision: None
Location
- Region: Mill Spring
- Elevation: 1000 Feet
Financial & listing details
- Price per square foot: $5,043/sqft
- Tax assessed value: $549,187
- Annual tax amount: $2,794
- Date on market: 6/22/2026
- Cumulative days on market: 81 days
- Listing terms: Cash,Conventional
- Exclusions: Appliances and HVAC in house, these belong to the caretaker
- Electric utility on property: Yes
- Road surface type: Dirt, Gravel, Paved
Estimated market value
Not available
Estimated sales range
Not available
$1,530/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/21/2026 | Price change | $5,225,000-5%$5,043/sqft |
Source:  Canopy MLS as distributed by MLS GRID #4396705 Report a problem | ||
| 6/22/2026 | Listed for sale | $5,500,000$5,309/sqft |
Source: Canopy MLS as distributed by MLS GRID #4393766 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,794 -3.3% | $549,187 +23.7% |
| 2024 | $2,889 | $444,019 |
| 2023 | $2,889 +3.2% | $444,019 |
| 2022 | $2,800 | $444,019 |
| 2021 | $2,800 +9.1% | $444,019 +14.9% |
| 2020 | $2,568 +1.4% | $386,528 |
| 2019 | $2,533 +13.5% | $386,528 |
| 2018 | $2,232 -4.6% | $386,528 +4.5% |
| 2017 | $2,340 +4.7% | $369,882 |
| 2016 | $2,234 -72.5% | $369,882 |
| 2015 | $8,115 | -- |
| 2014 | $8,115 | -- |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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