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5116 Lake Shores Road

5116 Lake Shores Road, Virginia Beach, VA 23455
Sold Jul 31, 2020
$253,000
$245,410 by Southern Trust Mortgage Llc
Mortgage Due Aug 01, 2050
5116 Lake Shores Road in Virginia Beach, VA was first built in 1955 and is 69 years old. This has been categorized as a residential property type. It is a single story home. There are a total of 6 rooms in the home, of which, 3 are bedrooms. In terms of bathrooms, there is only one bathroom. There are 2 partial bathrooms. 5116 Lake Shores Road has 1,598 sqft of living area. This is typically the area of a building that is heated or air conditioned and does not include the garage, porch or basement square footage. In total, the area measurement of the land is 19,643 square feet.

Learn more about the property and building on this page. There is a open porch. The home has a hip style roof made of composition shingle. Water for the property is sourced from a water system. The property is connected to a sewer system. For those who need parking, there is a attached garage. The garage is 450 sqft. There are a total of 2 available parking spaces. Fun fact, did you know that buildings can move due to weather changes? That's why, the type of control joints used in the construction of your home is extremely important. Based on our data, we know that the home was built with frame control joints. The condition of the building has been evaluated as average. The exterior walls of the home are made of brick. While the interior walls are made of plaster. Walk inside and you'll find flooring throughout the home. Walk into the home itself and you'll find that it is currently being cooled with central air conditioning. As for heating, the home is utilizing a forced air unit and being fueled with oil. There is a fireplace in the home! Just imagine how amazing it would be to curl up in front of a cozy fireplace during those chilly winter nights. We've gathered and summarized the following transaction history in an effort to provide more transparency and up-to-date information for our users. According to our sources, 5116 Lake Shores Road sold most recently in Jul 21, 2020 for a total of $253,000. If you work out the math, that's approximately a cost of $158.32 per sqft. There could be many factors that caused the property to sell at a higher price and increase in value. Tax-wise, the current owner is expected to pay close to $2,888 in taxes each year. 5116 Lake Shores Road was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $291,700. If we break it down further, the land itself was valued at $156,400. Improvements to the property, however, were assessed at a total of $135,300. The property's total market value has been marked the same as the total assessed value which is pretty typical. Speaking of costs, many buyers and sellers often forget to take into consideration the closing costs they may occur. Closing costs can stem from anything mortgage or property related to fees related to your property title. As you'll soon learn from our guide, fees can quickly add up hence why as a rule of thumb, we typically recommend setting aside at least 5% of the purchase price to cover potential closing costs. Don't worry, any additional you save up can always go towards your principal. Better safe than sorry!Sadly, this property is not available for sale but we are constantly updating our inventory in real time. Sign up for a RealtyHop account and add this property to your favorites to get updates on when this property is back on the market. Or alternatively, you can check back frequently for updates.

Building Features

Exterior

Brick Exterior

Driveway

Driveway

Parking

Garage Parking
This property description is generated based on publicly available data.

Building Info

Overview

    General

  • Year Built: 1955
  • Effective Year Built: 1955
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: Average
  • Construction Type: Frame
  • Exterior Walls Type: Brick
  • Interior Walls Type: Plaster
  • Roof Shape Type: Hip
  • Roof Cover Type: Composition shingle
  • Floor Count: 1
  • Floor Cover: Wood
  • Basement Type: Building with no basement
  • Basement Area: 0
  • Garage Type: Attached
  • Garage Square Area: 450
  • Parking Space Count: 2
  • Porch Type: Open porch

    Dimensions

  • Lot Size Square Feet: 19,643
  • Lot Size Frontage Feet: 0
  • Total Building Area: 1,598
  • Building Area: 1,598
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: Central air conditioning
  • Heating: Forced air unit
  • Heated Square Feet: 1,598
  • Heating Fuel Type: Oil

    Utilities

  • Sewer System: Yes
  • Water Service: Yes

Building

  • Property Class: Residential
  • Subdivision: LAKE SHORES
  • Land Acres: 0.451
  • Standard Land Use Code: Single family residential
  • Legal Description 1: LAKE SHORES SEC 2 LOT 6 BK 6

Ownership

  • Current Owner : SCHRADER NATHANIEL STEVEN
  • Previous Owner : DORFLER MICHAEL
  • Previous Owner 2: DORFLER RONALD N
  • Is Owner Occupied: Owner-occupied property

Neighborhood

  • School District Name: Virginia Beach City Public Schools
  • Census Tract: 041200

Zoning

  • Zoning: 14

Geography

  • Assessors Map Reference: PM D031
  • Parcel: 14698526560000
  • Block: 6
  • Lot: 6
  • Municipality: BAYSIDE
  • Latitude: 36.9
  • Longitude: -76.1561

    Address

  • Full Address: 5116 Lake Shores Rd
  • Address - House Number: 5116
  • Address - Street Name: Lake Shores
  • Address - Suffix Type: Rd
  • State: VA
  • City Name: Virginia Beach
  • Carrier Code: C043
  • 4-Digit Zip Code: 2522
  • Zip Code: 23455

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $2,888
  • Tax Rate Code Area: D09

    Appraisal Valuation

  • Standard Deviation: 0.1236
  • Valuation Date: Nov 03, 2023
  • Confidence Score: 86
  • Final Value: 381,883
  • High Value: 429,106
  • Low Value: 334,659

    Open Liens

  • Total Open Liens: 1
  • Total Open Liens Amount: $245,410
  • First Open Lien Mortgage Lender: SOUTHERN TRUST MORTGAGE LLC
  • First Open Lien Mortgage Recording Date: Jul 31, 2020
  • First Open Lien Mortgage Loan Amount: $245,410
  • First Open Lien Mortgage Term: 360
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: New Conventional
  • First Open Lien Mortgage Loan Due Date: Aug 01, 2050

    Market Valuation

  • Market Total Value: $291,700
  • Market Land Value: $156,400
  • Market Improvement Value: $135,300

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $291,700
  • Assessed Land Value: $156,400
  • Assessed Improvements Value: $135,300

    Sales

  • Current Sale Contract Date: Jul 21, 2020
  • Current Sale Recording Date: Jul 31, 2020
  • Current Sale Transaction ID: 11777838660
  • Current Sale Price: $253,000
  • Current Sale Document Type: Deed
  • Current Sale Input Document Number: 20200731000679530

    Last Sale Mortgage

  • First Mortgage Lender: SOUTHERN TRUST MORTGAGE LLC
  • First Mortgage Transaction Date: Jul 31, 2020
  • First Mortgage Loan Amount: $245,410
  • First Mortgage Terms: 360
  • First Mortgage Loan Type: New Conventional
  • First Mortgage Loan Due Date: Aug 01, 2050

About Northwest Virginia Beach



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Frequently Asked Questions

What neighborhood is 5116 Lake Shores Road located in?
The 5116 Lake Shores Road is a house located in the neighborhood of Northwest Virginia Beach in Northwest Virginia Beach, Virginia Beach.
What is the average sales price for listings in 5116 Lake Shores Road?
The average sales price for units in 5116 Lake Shores Road is $269,000 , or $168/sqft. currently.

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