The Council Collection | Mount Gilead, North Carolina | September 2026

At $12,950,000, 123 Cove Point in Mount Gilead works out to about $1,591 per square foot. That buys five bedrooms, four full and three half baths, and 8,141 square feet on 0.54 of an acre, built in 2024.

The number makes sense once you see the parcel. The house sits on the point of a peninsula inside a gated community on Lake Tillery, with 411 feet of private shoreline. It sells fully furnished, with a private boathouse and a 2023 Barletta pontoon that conveys.

Buyers at this address are not paying for land. They are paying for position on the water, and for a finished house they can live in the week they close. The listing is held by Liza Caminiti of Ivester Jackson Christie's International Real Estate, a fellow member of Christie's International Real Estate Council.

The property film for 123 Cove Point.

The Property

What the market is underwriting here is the point. The aerial explains the price faster than the floor plan does: a three-story modern house turned so that every level faces the lake, on a lot that runs out into the water.

On the point of a peninsula, with 411 feet of private shoreline.

A pivoting white oak door opens under a 33-foot foyer ceiling. Beyond it, floor-to-ceiling glass carries the great room out to the water, and a floating white oak staircase rises through all three levels, with an elevator serving each floor.

Two stories of glass turn the great room toward the lake.

The kitchen runs on leathered quartzite, a Sub-Zero refrigerator and separate freezer, and dual Miele dishwashers, with a scullery behind it holding a second prep sink and two Sub-Zero wine refrigerators. The great room is anchored by a three-sided glass fireplace.

The kitchen, with the scullery doing the work out of sight.

The primary suite takes its own wing on the upper level, with vaulted white oak ceilings, a suspended Gyrofocus fireplace, and a private deck overlooking the lake. A catwalk leads to a separate closet wing. The lower level adds a living room built around a 72-inch fireplace, a bar, a bunk room, and two more guest bedrooms, and a bonus suite sits above the three-car garage.

The primary suite, with its suspended fireplace facing the water.

Full remarks and all 48 photographs are on Liza Caminiti's listing page for 123 Cove Point.

What This Market Values

Lake Tillery is a Duke Energy reservoir of about 5,000 acres on the Pee Dee River, formed by a dam completed in 1928, with roughly 118 miles of shoreline across Stanly and Montgomery counties. It is a smaller, older lake than most buyers picture at this price.

Lake Tillery, about 5,000 acres of the Pee Dee River.

On a lake that size, position is scarce in a way land is not. A point lot with a long run of shoreline is a finite thing, and the market prices it that way. At 0.54 of an acre, this parcel is small by estate standards. Nobody is buying it for the acreage.

The second thing this market values is completion. The house conveys furnished, the boat conveys, and the outdoor kitchen already has its pizza oven, Big Green Egg, and Yoder smoker in place. The product being sold is a finished life on the water, not a project.

The third is Charlotte. The listing puts Uptown and Charlotte Douglas International Airport about an hour and twenty minutes away, and the property film markets it as a waterfront home near Charlotte. The trade the buyer accepts is scale. This is a quieter, smaller lake in exchange for a drive short enough to use the house often.

How It Compares to the Upstate

Lake Keowee is also a Duke Energy reservoir, but it covers about 18,500 acres, more than three times Tillery's surface, and it filled in 1973. It sits about 35 miles from Greenville and roughly 127 miles from Charlotte.

The lower-level summer kitchen, with a zinc-top table that seats ten.

For a Charlotte buyer, those two facts frame the whole decision. Tillery wins on time. Keowee wins on scale, with a bigger lake, more open water, and the Blue Ridge on the horizon. In The Cliffs, the same budget also buys into a private club structure built around golf, wellness, and a social calendar, which is a different product from a single exceptional house on a point.

The more useful lesson runs the other way. When an Upstate seller lists on Keowee or in The Cliffs, the Charlotte buyer touring it may have seen a house like this one the week before: finished, furnished, boat at the dock. That is the standard the Upstate listing is being measured against, whether the seller knows it or not.

What Most Buyers Miss

The price includes things that are not real estate. The furnishings and the pontoon convey. Lenders and appraisers value the real property, so get the personal property itemized with values before financing is underwritten.

A point lot trades land for exposure. Sitting out on the water gives the house its views, and it gives passing boats a view of the house. Visit on a summer Saturday before deciding how private it feels.

The boathouse is the first thing to verify. Lake Tillery falls under Duke Energy's Yadkin-Pee Dee shoreline management program, so what stands at the water's edge answers to the utility as well as the county. Confirm the boathouse and lift are documented as built.

Furnished means someone else's taste, priced in. Designer pieces are part of the number. A buyer who would redo the interiors is paying for them twice.

New construction still needs a paper trail. A 2024 build should come with transferable warranties, as-built documentation, and the gated community's rules in writing. The listing does not publish the HOA terms.

Drive time is the real carrying cost. An hour and twenty minutes each way is short for a lake house and long for a weeknight. It decides whether a second home gets used weekly or monthly.

Three trade-offs sit underneath all of it. Position on the water versus acreage and privacy behind the house. The convenience of a furnished, finished home versus paying a premium for choices you did not make. And a shorter drive to Charlotte versus the scale and scenery of a bigger lake farther away.

The boathouse conveys with a lift and a 2023 Barletta pontoon.

Related Insights

Liza's listing is the kind of cross-market property Damian tracks as a member of Christie's International Real Estate Council. Buyers weighing a smaller lake near Charlotte against a larger one near Greenville should read how Lake Keowee compares to other lake markets, and sellers preparing to compete for that same buyer usually start by choosing a luxury real estate advisor in Greenville who can price against both.

A Local, Advisory Perspective

We follow a listing like this because an Upstate seller's buyer is often choosing between lakes, not between houses. The Charlotte family pricing a furnished house on Lake Tillery may be touring Keowee the following weekend. Knowing what they would pay per foot there, and what they would give up in acreage and scale, is direct preparation for positioning a Keowee or Cliffs property against the alternative they are actually weighing. Damian Hall Group sits on The Council for exactly this reason. The Council Collection runs weekly, featuring one member's listing and what it means here.

Photography courtesy of Ivester Jackson Christie's International Real Estate.

Frequently Asked Questions

What does nearly $13 million buy on Lake Tillery?

At 123 Cove Point in Mount Gilead, $12,950,000 buys a 2024 modern house of 8,141 square feet with five bedrooms, on the point of a peninsula in a gated community. It comes with 411 feet of private shoreline, a private boathouse, and a 2023 pontoon, and it sells fully furnished. That works out to about $1,591 per square foot.

Where is Lake Tillery, and how far is it from Charlotte?

Lake Tillery is a Duke Energy reservoir of about 5,000 acres on the Pee Dee River in Stanly and Montgomery counties, North Carolina. The listing for 123 Cove Point places it about an hour and twenty minutes from Uptown Charlotte and Charlotte Douglas International Airport.

How does Lake Tillery compare to Lake Keowee?

Lake Keowee is much larger, at about 18,500 acres, more than three times Tillery's surface. Both are Duke Energy reservoirs, but Tillery dates to a 1928 dam while Keowee filled in 1973. Tillery is the shorter drive from Charlotte, while Keowee sits about 35 miles from Greenville with the Blue Ridge on the horizon.

Does buying a fully furnished luxury home change how it is financed?

Yes. When furnishings and a boat convey, part of the price is personal property rather than real estate, and lenders and appraisers value the real property. Buyers should get the conveying items itemized with values before financing is underwritten.

What is Christie's International Real Estate Council?

Christie's International Real Estate Council is an invitation-only group of thirty advisors drawn from more than fourteen thousand agents worldwide. Members collaborate on market intelligence and cross-market opportunity, which is why Damian Hall Group features one member's listing each week in The Council Collection.