3005 King Richard Way, Chesapeake, VA

OFF-MARKET MILITARY EXCLUSIVE: 2.25% VA ASSUMABLE LOAN (View full description, photos, contact at my personal site ezwynn dot com) 3005 King Richard Way, Chesapeake, VA 23321 (Western Branch) Asking Price: $595,000 | Assumable Loan Balance: $291,933 @ 2.25% Interest Rate Monthly P&I Payment: ~$1,900/month Required Equity at Closing: ~$303,000 (Cash or Secondary Financing)Requirement: Active Duty / Veteran Buyer with Full Substitution of Entitlement (SOE) Required ***Buyer's agent protected -- Offering 2.5% Co-op Commission PROPERTY OVERVIEW Located on a peaceful cul-de-sac in the top-rated Western Branch school district, this ~2,600 sq ft, 4-bedroom, 3-bathroom home delivers an ideal combination of structural integrity, premium upgrades, and open-concept living. Highlighted by real hardwood flooring, vaulted ceilings, and a main-floor bedroom suite, this home is turnkey and low-maintenance. KEY HIGHLIGHTS & PREMIUM UPGRADES NEW 50-Year Transferable Roof & NEW Skylights (2025): Complete peace of mind with a fully transferable warranty and natural light throughout the primary living areas. NEW 20' x 20' Maintenance-Free Trex Deck: Custom outdoor living space built for weekend entertaining, grilling, and relaxation. NEW Energy-Efficient Replacement Windows (2023): Superior insulation and lower monthly utility costs. NEWER Dual-Zone HVAC Systems: Dedicated main-floor and second-floor units for precision year-round comfort. Real Hardwood Flooring: High-end, durable real hardwood across the main living level. Oversized 2-Car Garage: Ample room for two full-sized vehicles, workshop space, and extra storage. Flexible Layout: Main-floor bedroom and full bath (ideal for guests or a home office) plus a spacious primary suite upstairs. Yard & Lawn Care: Inground sprinkler system with dedicated well pump for low-cost irrigation. SPECIAL FINANCING & ASSUMPTION DETAILS Assumable Rate: 2.25% Fixed Interest Rate Current Principal Balance: $291,933Principal & Interest (P&I) Payment: ~$1,900/month (saves over $1,000+/month compared to current market rates) Seller Terms: Military-to-Military Substitution of Entitlement (SOE) is strictly required. Buyer must provide a valid VA Certificate of Eligibility (COE) with sufficient available entitlement to substitute for the seller's entitlement at closing. TIMELINE & LISTING SCHEDULE Private Off-Market Window: Exclusively available to military buyers through December 31, 2026. Delayed MLS Target: If not under contract by late December, the property will formally launch on the Hampton Roads MLS in Early January 2027. Target Closing / Move-Out: Late February 2027 (Structured to align seamlessly with military PCS orders).