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For sale
  • Price cut: $14K (7/27)
    $535,000

    5061 Bay Colony, Chincoteague Island, VA 23336

    3beds
    1,540sqft
    : 
    $3,156/mo
    Get pre-qualified
    Single Family Residence
    Built in 2003
    0.35 Acres Lot
    $521,600 Zestimate®
    $347/sqft
    $-- HOA

    What's special

    Enclosed under-house storageDetached storage shedVinyl sidingSpacious lotScreened porchMultiple covered porchesExpansive wraparound decking
    You will LOVE the views! Enjoy beautiful views of Chincoteague Bay from this well-maintained coastal home in the desirable Bay Colony community. Situated on a spacious lot, this elevated 3-bedroom, 2-bath home offers the perfect blend of island charm, comfortable living, and outdoor enjoyment. Designed to take advantage of the surrounding scenery, the home features multiple covered porches, balconies, a screened porch, and expansive wraparound decking, providing numerous places to relax, entertain, and enjoy the coastal breezes. Bay views can be enjoyed from multiple areas of the home, creating a true island retreat. Inside, the upper level serves as the heart of the home, featuring an open-concept kitchen, dining area, and family room filled with natural light. The kitchen offers stainless steel appliances, abundant cabinetry, breakfast bar seating, and seamless flow into the living and dining spaces, making it ideal for everyday living and entertaining. Sliding doors lead to the screened porch, creating an inviting extension of the living area. The thoughtfully designed floor plan includes a spacious first-floor primary bedroom with direct access to the covered porch, an additional first-floor guest bedroom and full bath, plus a private upstairs bedroom and full bath with balcony access. A dedicated laundry area adds convenience, while tile flooring throughout the main living areas enhances the home's easy-care coastal appeal. Additional features include vinyl siding, public water, private septic, detached storage shed, enclosed under-house storage, and an outdoor shower—perfect for rinsing off after a day at the beach or on the water. Being sold furnished with appliances included, this move-in-ready property offers a turnkey opportunity as a primary residence, vacation getaway, or investment property. Conveniently located near Chincoteague's shops, restaurants, marinas, wildlife refuge, and Assateague Beach, this is your opportunity to experience the very best of island living with beautiful bay views and easy access to everything the island has to offer.
    61 days
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    526
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    22
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    Zillow last checked:

    Listing updated:

    Listed by:

    Meghan Oliver Clarkson 757-894-0798,

    Long & Foster - Main St 757-564-2600

    Source: Eastern Shore AOR,MLS#: 71560MLS Logo

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 3
      • Bathrooms: 2
      • Full bathrooms: 2
      Dining room
      • Features: Dining Area, Bar
      Heating
      • Heat Pump, Forced Air, Electric
      Cooling
      • Heat Pump, Central Air, Electric
      Appliances
      • Included: Range, Microwave, Dishwasher, Refrigerator, Washer, Dryer, Electric Water Heater
      • Laundry: Washer/Dryer Hookup
      Features
      • 1st Floor Bedroom, Other
      • Windows: Window Treatments, Double Pane Windows
      • Has fireplace: No
      • Fireplace features: None
      Interior area
      • Total structure area: 1,540
      • Total interior livable area: 1,540 sqft
      Video & virtual tour

      Property

      Parking
      • Parking features: No Garage, Driveway
      • Has uncovered spaces: Yes
      Features
      • Levels: Two
      • Patio & porch: Screened, Deck, Porch
      • Exterior features: Other
      • Has water view: Yes
      • Water view: Water
      • Body of water: Chincoteague Bay
      Lot
      • Size: 0.35 Acres
      • Dimensions: .35
      • Features: <.5 acre +/-
      Details
      • Additional structures: Shed/Barn
      • Parcel number: 031B11400D00000
      • Zoning description: Residential

      Construction

      Type & style
      • Home type: SingleFamily
      • Architectural style: Beach House
      • Property subtype: Single Family Residence
      Materials
      • Vinyl Siding
      • Foundation: Crawl Space, Block
      • Roof: Composition
      Condition
      • 15-30 yrs +/-
      • New construction: No
      • Year built: 2003

      Utilities & green energy

      • Sewer: Septic Tank
      • Water: Public

      Community & HOA

      Community
      • Security: Smoke Detector(s)
      • Subdivision: Chincoteague
      Location
      • Region: Chincoteague Island

      Financial & listing details

      • Price per square foot: $347/sqft
      • Tax assessed value: $466,700
      • Annual tax amount: $1,787
      • Date on market: 6/2/2026

        Estimated market value

        $521,600

        $496,000 - $548,000

        $2,122/mo

        Price history

        DateEventPrice
        7/27/2026Price change$535,000-2.6%$347/sqft
        Source: Bright MLS #VAAC2002928 Report a problem
        6/2/2026Listed for sale$549,000-6.2%$356/sqft
        Source: Eastern Shore AOR #71560 Report a problem
        11/21/2025Listing removed$585,000$380/sqft
        Source: Eastern Shore AOR #64530 Report a problem
        9/16/2025Price change$585,000-2.2%$380/sqft
        Source: Eastern Shore AOR #64530 Report a problem
        6/6/2025Listed for sale$598,000$388/sqft
        Source: Eastern Shore AOR #64530 Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$1,787 $466,700
        2024$1,787 +19.3%$466,700 +44.9%
        2023$1,498 0%$322,100
        2022$1,498 +24%$322,100 +28%
        2021$1,208 $251,700
        2020-- $251,700 +6.1%
        2019$1,139 0%$237,300
        2018$1,139 -2.2%$237,300 -0.2%
        2017$1,165 $237,800
        2016$1,165 +898.7%$237,800 -0.1%
        2015$117 -90%$238,100
        2014$1,167 $238,100 -1.5%
        2013$1,167 +2.7%$241,800
        2012$1,136 +13.9%$241,800 -7.9%
        2011$998 $262,600
        2010$998 $262,600
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

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        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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        Climate risks

        Neighborhood: 23336

        Getting around

        9 / 100
        Car-Dependent
        47 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating

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