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Chesapeake › KNELLS RIDGE › 320 Oak Lake Ter✓ Source: REIN MLS #10651839 · record updated Oct 8, 2026 · synced every 2 min · your inquiry is never resold
320 Oak Lake TER, CHESAPEAKE VA 23320 - Main photo
320 Oak Lake TER, CHESAPEAKE VA 23320 - Photo 2
320 Oak Lake TER, CHESAPEAKE VA 23320 - Photo 3
320 Oak Lake TER, CHESAPEAKE VA 23320 - Photo 4
320 Oak Lake TER, CHESAPEAKE VA 23320 - Photo 5
5beds
2.1baths
2,300sqft
36days on market

320 Oak Lake Ter, Chesapeake, VA 23320

ActiveResidential · built 1994 · KNELLS RIDGE

Facts & features

Type

Residential

Year built

1994

Price / sqft

$185

Condo fee

$165/mo

Taxes

$3,567/yr

County

Chesapeake VA

MLS #

10651839

Condo association includes

Ground MaintTrash Pickup

$165/mo condo fee · Oak Lake Estates Condo Association · per the REIN MLS listing record — confirm inclusions with the association.

Interior

Bedrooms
5
Full baths
2
Half baths
1
Approx. sqft
2,300
Stories
2
Flooring
Carpet, Laminate/LVP, Vinyl
Ensuite bedrooms
1
Total rooms
9
Appliances
Dishwasher, Disposal, Dryer Hookup, Microwave, Elec Range, Refrigerator, Washer Hookup
Equipment
Backup Generator, Ceiling Fan, Gar Door Opener

Construction & exterior

Style
Transitional
Subtype
Detached
Foundation
Slab
Roof
Asphalt Shingle
Exterior
Vinyl
Pool
No Pool
Fencing
Back Fenced,Privacy,Wood Fence

Utilities & systems

Heating
Forced Hot Air, Nat Gas
Cooling
Central Air
Water heater
Gas
Water
City/County
Sewer
City/County

Lot, parking & ownership

Lot size
0.1048
Subdivision
KNELLS RIDGE
Zoning
RMF1
Ownership
Condo
Garage
Yes
Parking
Garage Att 1 Car, Multi Car, Driveway Spc, Street
Possession
SETTLEMENT
Disclosures
Common Interest Community, Disclosure Statement, Resale Certif Req

See more Chesapeake condos & townhomes.

Sources: REIN MLS record · city assessor · null fields are suppressed, never faked

About this home

Welcome to 320 Oak Lake Terrace. This beautifully updated 5-bedroom, 2.5-bathroom home offers approximately 2,300 square feet of living space. The move-in-ready interior features an open-concept layout, a custom upgraded kitchen, modern finishes, barn doors, and updated flooring throughout generous living areas. Upstairs includes a large primary suite with a walk-in closet and private en-suite bath, plus four additional bedrooms that may be used as guest rooms, an office, or flex space. Outside, the fully fenced backyard offers a brick patio and a shed for additional storage. Conveniently located minutes from Greenbrier and Battlefield shopping and dining, major interstates, and area military bases. Seller is offering a lender incentive equal to 1% of the buyer's loan amount toward an interest-rate reduction or eligible closing costs when buyer uses the preferred lender.

Listing courtesy of John Ramsey · Own Real Estate LLC · REIN MLS #10651839

Tom & Dariya's overview

Our read on this home

by Tom & Dariya Milan, REALTORS® · Brokered by LPT Realty

At a glance

Five bedrooms, two full baths, and 2,300 square feet on a quiet Chesapeake lot. Built in 1994, this home sits just minutes from the water and major employers. You'll find homes for sale in 23320 offer solid value and convenient access throughout the city.

Keep searching in Chesapeake

See all Chesapeake homes for sale, including homes for sale in 23320 and homes for sale zoned for Oscar Smith High School. Browse every listing among homes for sale in Chesapeake — updated from the REIN MLS every few minutes. Nearby, look at Knells Ridge homes for sale, Chesapeake waterfront homes for sale, Chesapeake condos and townhomes for sale, and new construction homes in Chesapeake.

Read the full overview ↓

Why this home stands out

Oak Lake Terrace puts you a short drive from restaurants, grocery stores, and fitness options. The five-bedroom layout gives you room to spread out, with space for a home office, guest room, or hobby area. Proximity to USCG Finance Center Chesapeake and Norfolk Naval Shipyard means your commute stays short. VA loan financing is widely available in this area, and the 1994 construction keeps the price accessible.

KNELLS RIDGE and the Chesapeake real estate market

This Chesapeake address sits in a residential pocket with steady foot traffic and established homes. Oak Grove Meadows park is just a short walk away, perfect for outdoor time. The neighborhood has a practical, no-fuss character—tree-lined streets and homes built to last. Chesapeake itself is Virginia's largest city by land area, stretching from the waterfront to rural edges. Getting around is straightforward: major roads like Battlefield Boulevard and Military Highway connect you to shopping, dining, and employment centers. The city balances suburban calm with urban convenience. If you are comparing Chesapeake homes for sale, note that this zip code offers direct access to both military installations and civilian job hubs. Schools, parks, and medical facilities are distributed throughout the city, all within reasonable drive times.

What's nearby

Barley Pizza, Maymar Filipino Restaurant, and La Oficina Steakhouse & Cantina sit just a block or two away—dinner is a quick trip. Dollar General and Food Lion handle everyday grocery runs, with BP nearby for fuel. Coffee and smoothies are available at 7-Eleven, McDonald's, or KRAVE Juice & Smoothie Cafe. Hope Fit VA and LG Fit LLC offer gym and fitness classes close by. Oak Grove Meadows park is less than half a mile away, and Chesapeake City Park extends your outdoor options.

For different buyers

Base commute and VA loan notes

USCG Finance Center Chesapeake is one minute away by car. Norfolk Naval Shipyard sits about 12 minutes south. VA loan financing is common and well-supported in this area. The five-bedroom layout and established neighborhood mean minimal setup time before you settle in.

Room to grow

Five bedrooms give you room for separate sleeping areas, a home office, and a guest space. Two full baths plus a half bath reduce morning bottlenecks. The 2,300 square feet spread across a single-family lot offers storage and flexibility. Proximity to Oak Grove Meadows park and Chesapeake City Park means outdoor play is nearby.

More buyer questions

How far is 320 Oak Lake Terrace from USCG Finance Center Chesapeake?

The commute is about one minute by car, making it one of the shortest possible in the area.

What is the drive time to Norfolk Naval Shipyard?

Norfolk Naval Shipyard is roughly 12 minutes away, depending on traffic and your exact route.

Are there restaurants within walking distance?

Yes. Barley Pizza, Maymar Filipino Restaurant, and La Oficina Steakhouse & Cantina are all within a block or two.

What schools are zoned for homes for sale in 23320?

Anyone comparing homes for sale zoned for Oscar Smith High School will find this address in that attendance zone.

Is there a park nearby?

Oak Grove Meadows park is less than half a mile away, and Chesapeake City Park is also close by for recreation.

Ready to explore this five-bedroom Chesapeake home? Contact Tom & Dariya Milan to schedule a tour and learn more about the neighborhood.

Summary generated by AI from public records and publicly available information.

Homes like this one sell fast — see the next one first

Chesapeake$360K – $490K5+ beds

By subscribing you agree to receive listing emails from Tom & Dariya Milan, Realtors, at most one a day. Unsubscribe anytime · Privacy PolicyBrokered by LPT Realty

Schools

VaHome School Score

Our own 1–10 rating, scored from Virginia Department of Education data.

VaHome School Score — calculated by VaHome.com from Virginia Department of Education assessment, progress, and attendance data. Attendance zones come from the MLS listing record; confirm the current zone with the school division before making an offer.

Flood & environment

FEMA flood zone X · outside the high-risk area · FIRM 510034

Flood Risk (FEMA)

Source: FEMA National Flood Hazard Layer · FIRM 510034

Low / Moderate Risk

FEMA flood zone

X (low to moderate risk)

Base flood elevation

Not applicable in low-risk zones

Zone X is outside the Special Flood Hazard Area; FEMA doesn\u2019t define a BFE here.

Property elevation

19.3 ft above sea level

USGS 3DEP digital elevation model

Outside the high-risk Special Flood Hazard Area. Federal flood insurance is NOT required, though optional preferred-rate NFIP coverage is still worth considering in coastal Hampton Roads.

Data sources: Flood zone and base flood elevation come from FEMA\u2019s National Flood Hazard Layer. Property elevation is sampled from a single point on the parcel using the USGS National Map elevation service \u2014 actual elevations across a single property can vary by several feet higher or lower than the figure shown. Use these numbers as a starting reference and do your own due diligence (a professional survey or elevation certificate) before relying on them for any financial, insurance, or construction decision.

Hurricane Evacuation Zone

Not in a designated hurricane evacuation zone.

Source: Virginia Dept. of Emergency Management — Know Your Zone

Explore this neighborhood

Knells Ridge

Knells Ridge sits in the Greenbrier area of north Chesapeake. It clusters along Knells Ridge Boulevard just off North Battlefield Boulevard near Oak Grove Road, ZIP 23320.

$345K

Median sale · 12 mo

$211

Sold $/sq ft

17d

Days on market

7

For sale now

$83K

HH income

52.1%

Owner-occupied

REIN MLS closed sales, trailing 12 mo · U.S. Census ACS 2024 5-year

Explore Knells Ridge →
Map of Knells Ridge with neighborhood boundaryNeighborhood

houses for sale in Chesapeake →

Location intelligence

Minutes to real places, not a score

Location & Neighborhood

Places within ~1 mile, ordered by distance from this property. Powered by Google Places.

Military Commute

Drive times to nearest bases

Drive times via Google Maps with current traffic patterns. Times are typical and may vary by time of day. Use the "Analyze" button up top to see live drive time to your saved base.

The numbers

Run the real carrying cost

Estimates only — taxes come from the public record; confirm rates with your lender. VA-eligible buyers: $0-down financing may apply.

Estimate your monthly payment

$2,626/mo

Principal & interest

$2,205

Property tax

$297

Home insurance

$124

PMI

None

HOA/Condo (paid separately)

$165

Estimate only. Association (HOA/condo) fees are paid separately and are not included in the payment above. Insurance assumed at 0.35% of home value annually. Actual taxes, insurance, and rate will vary by lender, credit, and property. Contact a lender for a personalized quote.

Value & history

Judge value on real ground

Asking vs. assessment

120% of $353,200

City assessment record · taxes $3,567/yr

Land share of assessed value

33% — $115,000

Improvements $238,200 · assessor record ✓

Price context — similar nearby homes

$375,000 – $624,000

The 6 most similar homes nearby (same city, within ~20% of this size, ~2.5 mi; 6 sold). Context for judging the asking price — not an appraisal or an estimate of this home's value.

329 Old DR · 2.8 mi · 2,331 sqft$551,000 sold 2026-06
173 Harbor Watch DR · 2 mi · 1,894 sqft$375,000 sold 2026-09
229 Old DR · 2.8 mi · 2,200 sqft$612,000 sold 2026-09

Own a home nearby? See what it is worth today — What's your Chesapeake home worth?

Sale & Tax History

List Price

$425,000

Price / Sq Ft

$185

Annual Taxes

$3,567

Monthly Tax

$297

Condo fee

$165 / mo

Tax Rate (effective)

0.84%

Sale Timeline (this listing)

EventDatePriceDetail
ListedSep 2, 2026$425,000—
Price reducedOct 8, 2026$425,000−$2,500
Currently listed—$425,000—

Public-Records Assessment

Source: City Assessor via Hampton Roads Regional Parcels.

20% above assessment

Total Assessed

$353,200

Land

$115,000

Improvement

$238,200

Looking for multi-year tax assessments or prior sales? REIN MLS only ships data for the current listing. For full property history, check the city assessor record:

Chesapeake Real Estate Assessor

Tax data above from REIN public-records sync. Sale timeline tracked from this listing's first appearance in our feed forward; prior owner sales are not included.

Comparable Properties

Comps are selected by city, bed count, square footage and price proximity. Composite similarity score weights bed match, sqft variance, price variance, and straight-line distance.

Market tempo

36 days on market — read it in context

Days on market reflects pricing, season, and inventory — compare it against similar nearby homes below before reading anything into it.

Questions buyers ask

Is 320 Oak Lake Ter in a good school zone?+
The assigned zones on the listing record are B.M. Williams Primary, Greenbrier Middle (VaHome School Score 7.1/10), Oscar Smith (VaHome School Score 2.4/10). School attendance zones can change — always confirm enrollment with the local school division.
Is 320 Oak Lake Ter in a flood zone?+
FEMA maps this parcel in Zone X, outside the high-risk Special Flood Hazard Area. See the flood section on this page for details and sources.
Does 320 Oak Lake Ter have a condo association?+
Yes — condo association fees are on record for this unit (the current amount is shown in the facts section on this page). The association of record is Oak Lake Estates Condo Association. Association amenities on record include: Ground Maint, Trash Pickup.
When was 320 Oak Lake Ter built?+
It was built in 1994, per the listing record.

Answers generated from the listing record, verified school zones, FEMA data, and cached nearby-places data — never invented.

The people

You'll talk to a person, not a lead queue

TD

Tom & Dariya Milan

Brokered by LPT Realty · Hampton Roads · answer their own phone

✓ Your inquiry goes to Tom & Dariya — never sold to strangers

Listing courtesy of John Ramsey · Own Real Estate LLC · REIN MLS #10651839

Call or text (757) 777-7577

Ask Dariya — instant answers

Schools, flood, drive times, what it really costs to own — answered from this page's data, by chat or voice.

Schedule a private tour

Free, no obligation — your inquiry goes to Tom & Dariya, never resold.

320 Oak Lake Ter, Chesapeake — photo

See it in person — the record only says so much.

Call or text (757) 777-7577

320 Oak Lake Ter, Chesapeake, Virginia 23320 · MLS #10651839 · Source: REIN MLS + public record. Information deemed reliable but not guaranteed — verify independently. School zones subject to change; confirm with the local school division. All locations are described by neutral geographic fact. Equal Housing Opportunity.

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