Oakley Homes under $400,000

Welcome to Oakley, a charming subdivision nestled in the heart of Asheville, North Carolina. Known for its vibrant community spirit and picturesque surroundings, Oakley offers a unique blend of suburban tranquility and urban convenience, making it an ideal place to call home.

As you stroll through the tree-lined streets, you'll discover a variety of well-maintained homes that reflect the character and warmth of the neighborhood. With a diverse selection of properties available for under $400,000, Oakley is perfect for first-time homebuyers, families, and anyone looking to invest in the Asheville lifestyle without breaking the bank.

The homes in Oakley boast a range of architectural styles, from cozy bungalows to modern builds, each offering a unique charm and appeal. Many properties feature spacious yards, perfect for outdoor gatherings or a serene retreat after a long day. The community is also pet-friendly, with plenty of green spaces for your furry friends to explore.

Conveniently located just a short drive from downtown Asheville, residents of Oakley enjoy easy access to a plethora of local shops, restaurants, and cultural attractions. The area's vibrant arts scene, renowned breweries, and stunning mountain views provide endless opportunities for adventure and relaxation.

With its affordable housing options and welcoming atmosphere, Oakley is not just a place to live—it's a community where you can thrive. Come discover your new home in Oakley, where the beauty of Asheville awaits you!

Newest Oakley Homes under $400,000

$359,000

3 Beds ⋅ 1 Baths ⋅ 4424630 MLS

Oakley Brick Ranch with Mountain Views, Oversized Lot & Income Potential Welcome to this charming 3-bedroom, 1-bath brick ranch in desirable Oakley. Hardwood floors run throughout, and the bathroom features attractive tilework. The home is move-in ready with comfortable one-level living, while its versatile layout and unusually spacious lot offer exciting possibilities for the future. One of the property's biggest opportunities lies downstairs. The large unfinished basement, lower-level garage, and separate exterior entrance offer substantial space for expansion. Architectural plans and a property survey are already complete and included with the listing, illustrating the potential to nearly double the home's finished living area. Explore options for additional living space, an in-law suite, or potentially a separate apartment, subject to applicable approvals. Outside, the large, level, fenced backyard is a standout feature, with the added advantage of access from a second street and both front and rear parking. There's plenty of room for entertaining, gardening, playing or exploring the possibility of adding an ADU for additional living space or rental income, subject to City of Asheville zoning and permitting requirements. Enjoy mountain views from the front yard and a convenient Oakley location within walking distance of the school, library, and neighborhood amenities. Walk down the hill to Fairview Tavern or head just minutes to Fairview Road for groceries, coffee shops, restaurants, shopping, and fitness options. With easy interstate access, Biltmore Village and Downtown Asheville are just minutes away, while Black Mountain is an easy drive. Move-in ready today with exceptional potential for tomorrow, this property offers a rare combination of location, land, flexibility, and room to grow. Seller will consider seller financing to beat current lender rates - terms are negotiable. Book your showing today!

31 Wilmington Road, Asheville

$305,000

3 Beds ⋅ 1 Baths ⋅ 4424244 MLS

Unique opportunity in the heart of Oakley, unbeatable location. Private, level lot with flowering trees and shrubs. Easy one level living with generous space for outdoor living. Double car carport. Eat in kitchen, with stainless steel appliances and lots of cabinetry, including a pantry. Possible to make a dining room in part of the large living room if desired. Brand new propane furnace barely used. Roof has architectural shingles. Seller to provide up to $700.00 towards Home Warranty of Buyer's choice. Basement has inside and outside entrances. Minutes to Biltmore Village, Asheville, Oakley Library, and I 240. Lot includes lot 2 and 3 Buyer to determine if subdividable. Home has been smoking free for approximately 15 years. Under Terminix bond until approximately 2 years ago.

16 Shannon Drive, Asheville

$309,900

3 Beds ⋅ 3 Baths ⋅ 4413257 MLS

Unique opportunity in Oakley! One-story home with a finished basement in an unbeatable location, just minutes from everyday amenities and less than 10 minutes to downtown Asheville. Situated on a level lot, this charming property offers tremendous potential for someone ready to make it their own. The backyard features an above-ground pool with a separate pool house complete with a kitchen, full bath, and abundant storage. While this space is no longer in use and will require significant renovation or possible removal, it offers exciting possibilities for future outdoor living. The main level includes a bedroom, full bath, living room, and kitchen with dining area. Due to the main-level ceiling height being under 7 feet, it is not included in the home's finished square footage. The finished basement features two spacious bedrooms, two full baths, and a laundry room, all with ceiling heights of at least 7 feet. Whether you're looking for an investment, renovation project, or a chance to create a home tailored to your vision, this property is full of possibilities!

8 First Street, Asheville

$360,000

2 Beds ⋅ 1 Baths ⋅ 4412892 MLS

Charming cottage in convenient and on-trend Oakley. On quiet street one block from Oakley Elementary, Oakley Park and library, public transportation, connections to I-240, I-40, and I-26, minutes to Biltmore Village and neighborhood pubs and brewery. Warm and inviting one level living with generous space for outdoor living and gardening. Newer appliances, updated bathroom, and new guttering system has been installed. Primary bedroom closet plumbed for 1/2 bath and Seller is offering $1,000 allowance to refit as a half bath. Attic and basement storage and garden shed.

21 Lincoln Avenue, Asheville

$325,000

2 Beds ⋅ 1 Baths ⋅ 4352652 MLS

Are small city lots making you feel limited with the space you can afford? This cute Oakley home sits on a large fenced-in 0.46 acre lot in a great section of Oakley full of trees and a great community. The home offers so much with recent renovations that include a NEW furnace and HVAC system, new flooring, new hot water heater, new paint inside and new lower cabinets in the kitchen and a new roof installed 2024! More improvements are listed in the attachments. If you want a great home in a great neighborhood and the ability to stroll to Biltmore Village and the new All Day Darling eatery easily, this home may be for you. Seller is offer a credit for a new refrigerator to the buyer in the amount of $1,000 as well. Make this bright and cheerful city home yours today!

49 First Street, Asheville

$385,000

3 Beds ⋅ 3 Baths ⋅ 4399525 MLS

Charming two-story traditional nestled on a cozy dead-end street in the desirable Oakley area of Asheville. This home combines comfort, functionality, and a peaceful setting just minutes from shopping, dining, schools, and Downtown Asheville. The main level offers a spacious living room, dining room that opens to the back patio, half bath and kitchen with stainless steel appliances. The upper level you will find all 3 bedrooms, and 2 full bathrooms for added privacy and convenience. The generous sized backyard is perfect for gardening, play, pets, or simply enjoying the outdoors.

17 Pinecrest Drive, Asheville

$349,000

3 Beds ⋅ 3 Baths ⋅ 4393611 MLS

PRICE REDUCED! $10,000 SELLER CREDIT OFFERED AT CLOSING! First-time buyers and investors—this one deserves a closer look! A rare 3-bedroom, 3-bath opportunity in Oakley priced under $400K, offering an attractive entry point into the Asheville market without giving up the space you need. For the first-time buyer, the $10,000 seller credit can help with closing costs, prepaid expenses, or other upfront costs, making homeownership a little more attainable. Plus, major recent updates—including a brand-new HVAC system and new carpeting in all three bedrooms—mean fewer immediate big-ticket expenses to worry about. For the investor or value-minded buyer, the property's 3-bed/3-bath layout, dedicated parking, private access, and expansive lower-level basement create plenty of possibilities. Use the basement as a workshop, storage, home gym, or explore the potential for future finished space and added value, subject to permitting and buyer verification. Set quietly off the street, the home offers a sense of privacy while remaining incredibly convenient. The shared driveway provides off-street parking for up to 3 vehicles, while the low-maintenance grounds make ownership and upkeep more manageable. And the location? You’re close to some of Asheville's most desirable destinations, with easy access to I-240, Downtown Asheville, and historic Biltmore Village. Whether you're looking for your first home, an opportunity to build equity, or a property with investment potential, this is a compelling combination of price, space, updates, location, and flexibility. With the price reduction AND $10,000 seller credit, now is the time to take another look. Schedule your private tour today and see the possibilities for yourself!

501 Fairview Road, Asheville

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Listings provided courtesy of Triangle MLS, Inc. of NC, Internet Data Exchange Database. Information deemed reliable but not guaranteed. © 2026 Triangle MLS, Inc. of North Carolina. Data last updated .