627 Luray Terrace, Chesapeake, VA 23322, Chesapeake, Virginia, United States. - Hero Image
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627
Luray Terrace
Chesapeake | Virginia

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Nansu Kim
Nansu Kim
Presented At
$515,000
Bedrooms
4
627 Luray Terrace, Chesapeake, VA 23322, Chesapeake, Virginia, United States. - Photo 1
627 Luray Terrace, Chesapeake, VA 23322, Chesapeake, Virginia, United States. - Photo 2
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627 Luray Terrace, Chesapeake, VA 23322, Chesapeake, Virginia, United States. - Photo 4
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627 Luray Terrace, Chesapeake, VA 23322, Chesapeake, Virginia, United States. , Chesapeake , Virginia 23322

4 Bedrooms Other Residential

Discover storybook charm and modern luxury in this Glenwood home on a picturesque corner lot. An artisan front door welcomes you to an effortless, one-story feel. The inviting family room, with its cozy fireplace, flows into an updated, open-concept kitchen featuring gleaming granite countertops. Your private primary suite is a true escape with two closets, a renovated bath with a large tiled shower, and direct backyard access. Upstairs, a magnificent 276 sq ft suite with a full bath offers a perfect guest retreat, in-law suite, or home office. The fully-fenced backyard oasis includes a spacious deck, great for cookouts. Move in with total peace of mind knowing over $50,000 in major upgrades are complete, including a new roof (2023) and HVAC (2020) with a 10-year warranty. Located moments from top-rated schools, highways, dining, and shopping, this home offers a spectacular lifestyle. Don’t miss this opportunity!

Property

3D Street View Tour

Map showing 627 Luray Terrace, Chesapeake, VA 23322, Chesapeake, Virginia, United States.

Property Location

627 Luray Terrace, Chesapeake, VA 23322, Chesapeake, Virginia, United States., Chesapeake Virginia

Local Weather & Climate

Chesapeake, Virginia

Current Conditions Updated recently
78 °F
Clear sky
Feels Like 78°F
Humidity 65%
Wind 12 mph
Visibility 6.2 mi
Sunrise 11:27 AM
Sunset 11:04 PM
5-Day Forecast
Sat 7 Mar
Clear
High 78°
Low 78°
Sun 8 Mar
Clouds
High 75°
Low 63°
Mon 9 Mar
Clouds
High 75°
Low 61°
Tue 10 Mar
Clear
High 83°
Low 61°
Wed 11 Mar
Clouds
High 84°
Low 63°
Data from OpenWeatherMap

Walkability & Transit Scores

How easy is it to get around Chesapeake?

Walkability and transit scores for this address come from the EPA National Walkability Index.

Mortgage Calculator

Estimate your monthly payments for this property

$
%
$100,000
%
Estimated Monthly Payment $3,160
Monthly Payment Breakdown
Principal & Interest $2,528
Loan Amount $400,000
Total Interest $337,621
Total Cost $737,621
Potential Tax Benefits (United States)
$0 Est. First Year Interest Deduction
$0 Est. Annual Tax Savings
*Based on post-2017 tax law. Actual deductions depend on filing status, itemization, and current tax laws.

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Important Information
  • This calculator is for illustrative purposes only and does not constitute a loan offer, pre-approval, or commitment to lend.
  • Monthly payment estimates do not include property taxes, homeowner's insurance, HOA fees, or other applicable costs which may significantly increase your actual payment.
  • Interest rates shown are for demonstration only. Actual rates depend on your credit score, down payment, loan type, property location, and current market conditions.
  • This tool provides estimates only. Consult with a licensed mortgage professional for accurate quotes and personalized advice.
  • Tax benefit calculations are simplified estimates based on general assumptions for United States. Actual deductions depend on your specific tax situation, filing status, and current tax laws.
  • Tax Year Information: Tax data shown is based on United States tax year 2025 (fiscal year: January-December), rules effective from 2018 through 2025. Tax laws change frequently and may have been amended since this data was compiled.

Market Opinion

Ultra Luxury 88.0× median

Our perspective on current market conditions in Chesapeake. For informational purposes only — always consult a licensed real estate professional before making decisions.

Neutral Market
Balanced conditions. Negotiate wisely.
53
Buyer Score
Homes are taking 56 days to sell - more time to negotiate

Local Market Price Trends

Median home sale prices in Chesapeake, Virginia — ZIP code 23322 over the last 24 months. This shows how property values in this neighborhood have changed over time, helping you understand whether the market is appreciating, stable, or cooling.

This property is listed at $51,500,000
Area median: $585,000
+1.7% year-over-year (below the 3.5% historical avg)

Market Competition

56 days
Days on Market
Above typical
99.7%
Sale-to-List Ratio
Below asking

Future Value & Wealth Building

Starting investment: $515,000 20% down ($103,000)

33.1 years
Double Your Investment
Based on current market trends, your property value could double
$281,349
10-Year Equity
Your potential equity after 10 years of payments and appreciation
$2,741
Monthly Investment
Estimated monthly mortgage payment (principal & interest)
$964,922
30-Year Wealth Potential
Total equity after full mortgage payoff with market appreciation
2.7x
Leverage Power
Your $103,000 down payment could grow to $281,349 in equity (10 yrs)
Investment Perspective
$ $ $
$1 → $1.23
Every dollar invested today could become $1.23 in 10 years
$100 → 123 $1,000 → $1,233
+$30
$30/day
Your home may appreciate while you sleep
$209/week $908/mo $10,892/yr
$100K Investment Comparison (10 Years)
Real Estate (Leveraged)
$216K
S&P 500 Index
$259K
High-Yield Savings
$155K
Real estate leverage: potential -17% advantage over stocks
RENT 💸 -$283K
vs
OWN 📈 +$281K
$281K Potential Equity
vs $283K lost to rent over 10 years
$103K Down Payment Growth
2.7x
10yr
$281K
5.3x
20yr
$547K
9.4x
30yr
$965K
Wealth Comparison
×2
Equivalent to 2 average US homes
top 25%
US household wealth ranking
Median: $193K Yours: $965K
Time to Double Your Investment (accounting for market cycles)
42.4
years
Conservative
1.65% effective/yr
17.2
years
Optimistic
4.12% effective/yr
Projected Home Values (adjusted for market cycles)
10 Years
Conservative $607K +18%
Market $635K +23%
Optimistic $771K +50%
$281K est. equity
20 Years
Conservative $714K +39%
Market $783K +52%
Optimistic $1.2M +124%
$547K est. equity
30 Years
Conservative $841K +63%
Market $965K +87%
Optimistic $1.7M +236%
$965K est. equity

Historical Market Context

How current appreciation compares to long-term averages

National Long-Term Average
4.27 %
1967 – 2024
57 years of U.S. home price data
Recent Decade Average
6.5 %
2014 – 2024
Post-recovery bull market
Opportunity Zone
Current 3% appreciation is below the national historical average. This market may offer value opportunities.

Projections account for historical market cycles (~12% corrections every 6 years). Effective annual growth after corrections: 2.1%. Market scenario reflects current 3% YoY trend from Redfin (Feb 2026). These projections are estimates only and actual results may vary. Past performance does not guarantee future results.

Data from U.S. Census Bureau, World Bank, Zillow, and Redfin | Market data updated Feb 2026

Neighborhood Demographics

ZIP 23322 • 2022 ACS Data

66,091 Population
Median Age: 40.0
$129,628 Median Income
High
$434,600 Median Home Value
Rent: $1,700
42.2% College Graduates
Above Average

Housing

Homeowners 85.4%
Renters 11.7%
Vacancy Rate 2.9%

Employment

4.1% Unemployment
10.7% Work From Home

Education Attainment (Age 25+)

High School+ 95.3%
Bachelor's+ 42.2%
Graduate+ 15.8%
Data from U.S. Census Bureau American Community Survey 2022

Frequently Asked Questions

Common questions about this property

This house at 627 Luray Terrace, Chesapeake, VA 23322, Chesapeake, Virginia, United States features 4 bedrooms.
This property is listed at $51,500,000.
In Chesapeake, home prices have increased 1.7% over the past year, homes typically sell within 56 days, it's currently a unknown. These market conditions can affect pricing strategies and negotiation opportunities.
Based on current market indicators, Chesapeake shows an active market. The market opportunity score is 53 out of 100, reflecting factors like price trends, inventory levels, and days on market.
This is a house located in Chesapeake, Virginia. The property is situated in an established neighborhood with convenient access to local amenities and services.
Nansu Kim

Nansu Kim

Better Homes and Gardens Real Estate Native American Group

License #0225247856

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Better Homes and Gardens Real Estate Native American Group

Better Homes and Gardens Real Estate Native American Group

Better Homes and Gardens Real Estate Native American Group

License #0226019601

View Full Profile

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