NOT LISTED FOR SALE

541 Cove Colony Rd Lancaster, VA 22503

Estimated Value: $585,623

3 Beds
2 Baths
1,122 Sq Ft
$522/Sq Ft Est. Value

Last Sold January 27, 2021

Last sale price $430,000 $383 Per Sq Ft

Est. 36% increase in value since last sale

Current estimated payment $3,238/month

27 Days on Market

Highlights

  • Deck
  • Wood Flooring
  • 1 Fireplace
  • Contemporary Architecture
  • Main Floor Bedroom
  • No HOA

About This Home

As of January 2021

Gorgeous views and DEEP protected water make this classic river cottage a must see! Nestled on the shores of Myer Creek this home has over 8' of water at the dock (per owner). The western facing home is the setting of absolutely stunning sunsets! Myer Creek is a fantastic hurricane hole that provides easy access to the Rappahannock River and Chesapeake Bay! World class fishing and sailing is accessible from your backyard! The home is elevated well out of the flood zone with an easy, sloped walk to the dock. You will love the amazing outdoor living on the large deck and screened porch. The home features a owner's suite with bath, kitchen with laundry, living room with fireplace, 2 guest bedrooms and full guest bath. The home is in great shape and has been lovingly maintained by the current owner. Located in a community of fine homes, but not in an HOA, this a fantastic place to walks and get to know your neighbors! Yankee Point Marina is located just around the corner. This full-service marina provides gas, swimming pool access, boatyard, and maintenance. The Yankee Point Yacht club is a great organization to join for serious boaters or those looking to make friends on the water!

Last Agent to Sell the Property

Lisa Shultz

Long & Foster Real Estate, Inc. Listed on: 12/05/2020

Long & Foster Real Estate, Inc.

Last Buyer's Agent

Rhonda Wells

Isabell K. Horsley R. E., Ltd. License #0226022741

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $2,004

Year Built

  • Built in 1962

Lot Details

  • 0.49 Acre Lot
  • Zoning described as R1

Home Design

  • Contemporary Architecture
  • Composition Roof
  • Aluminum Siding

Interior Spaces

  • 1,122 Sq Ft Home
  • 1-Story Property
  • Sheet Rock Walls or Ceilings
  • 1 Fireplace
  • Screened Porch
  • Wood Flooring
  • Crawl Space

Kitchen

  • Convection Oven
  • Microwave
  • Dishwasher

Bedrooms and Bathrooms

  • 3 Main Level Bedrooms
  • 2 Full Bathrooms

Laundry

  • Dryer
  • Washer

Outdoor Features

  • Deck
  • Patio
  • Shed

Utilities

  • Cooling Available
  • Heat Pump System
  • Electric Water Heater
  • Septic Tank

Community Details

  • No Home Owners Association
  • Cove Colony Subdivision

Listing and Financial Details

  • Assessor Parcel Number 26H 3 2

Home Details

Home Type

Single Family

Est. Annual Taxes

$2,004

Year Built

Built in 1962

Lot Details

0

Listing Details

  • Property Sub Type: Waterfront Residential
  • Prop. Type: Residential
  • Lot Size Acres: 0.49
  • Water Body Name: Corrotoman River
  • Subdivision Name: Cove Colony
  • Directions: From lively take 201 to left on River Road. Left on Slab Town. Left on Myers Creek Rd. Left on Cove Conly Rd. Stay straight, house on left almost at end.
  • Architectural Style: Contemporary
  • Carport Y N: No
  • Garage Yn: No
  • Unit Levels: One
  • Year Built: 1962
  • Kitchen Level: Main
  • Special Features: None

Interior Features

  • Appliances: Electric Water Heater, Convection Oven, Washer, Microwave, Dishwasher, Dryer, Refrigerator
  • Has Basement: Crawl Space
  • Full Bathrooms: 2
  • Total Bedrooms: 3
  • Fireplace Features: One Fireplace
  • Fireplaces: 1
  • Fireplace: Yes
  • Flooring: Hardwood
  • Interior Amenities: 1st Floor Bedroom, Fireplace
  • Living Area: 1122
  • Main Level Bedrooms: 3
  • Room Bedroom2 Level: Main
  • Room Bedroom3 Level: Main

Exterior Features

  • Lot Features: < .5 acre
  • Construction Type: Aluminum Siding, Sheetrock Walls
  • Other Structures: Shed(s)
  • Patio And Porch Features: Patio, Deck, Screened Porch
  • Roof: Age 0-9 yrs, Composition

Garage/Parking

  • Attached Garage: No
  • Parking Features: None

Utilities

  • Cooling: Heat Pump
  • Cooling Y N: Yes
  • Heating: Heat Pump
  • Heating Yn: Yes
  • Sewer: Septic Tank
  • Water Source: Community

Condo/Co-op/Association

  • Association: No

Lot Info

  • Lot Size Sq Ft: 21344.4
  • Zoning Description: R1
  • ResoLotSizeUnits: SquareFeet

Tax Info

  • Tax Book Number: LR12/1408
  • Tax Map Number: 26H 3 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 5, 2020
Closed on
Jan 25, 2021
Sold by
Jenkins Ely A
Bought by
Hunter David S and Hunter Patricia R
Seller's Agent
Lisa Shultz
Long & Foster Real Estate, Inc.
Buyer's Agent
Rhonda Wells
Isabell K. Horsley R. E., Ltd.
List Price
$430,000
Sold Price
$430,000
Current Estimated Value
$585,623

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$155,623
Avg. Annual Appreciation
6.79%
Original Mortgage
$230,000
Outstanding Balance
$205,603
Interest Rate
2.67%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$380,748
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Hunter David S $430,000 Attorney
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Hunter David S $230,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
01/27/2021 01/27/21 Sold $430,000 +1.2% $383 / Sq Ft View Prior Sale
12/28/2020 12/28/20 Pending -- -- --
12/07/2020 12/07/20 For Sale $425,000 -- $379 / Sq Ft
Source: Northern Neck Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $2,004 $364,400 $190,000 $174,400
2023 $1,991 $316,100 $180,000 $136,100
2022 $1,991 $316,100 $180,000 $136,100
2021 $1,991 $316,100 $180,000 $136,100
2020 $1,991 $316,100 $180,000 $136,100
2019 $1,991 $316,100 $180,000 $136,100
2018 $1,827 $309,700 $184,000 $125,700
2017 $1,827 $309,700 $184,000 $125,700
2016 -- $309,700 $184,000 $125,700
2014 -- $0 $0 $0
2013 -- $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • B

    Seller's Agent in 2021

    Beverly Shultz

    Long & Foster Real Estate

    (804) 436-4000

    17 Total Sales

    Beverly Shultz
    Section Image

  • N

    Seller Co-Listing Agent in 2021

    Neill Shultz

    Long & Foster Real Estate

    (804) 580-0476

    10 Total Sales

    Neill Shultz
    Section Image

  • R

    Buyer's Agent in 2021

    Rhonda Wells

    IsaBell K. Horsley Real Estate

    Section Image
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Map

Source: Northern Neck Association of REALTORS®

MLS Number: 109318

APN: 26H-3-2

Virginia Lancaster County Lancaster 22503

541 Cove Colony Rd, Lancaster, VA

This home is located at 541 Cove Colony Rd, Lancaster, VA 22503 since 05 December 2020 and is currently estimated at $585,623, approximately $521 per square foot. This property was built in 1962. 541 Cove Colony Rd is a home located in Lancaster County with nearby schools including Lancaster Primary School, Lancaster Middle School, and Lancaster High School.

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