71 days on market
$515,000
500 Winston Salem Ave #207
Virginia Beach, Virginia 23451
MLS# 10622918 · OCEAN WAY CONDOMINIUM · Virginia Beach VA
Updated Mar 8, 2026 · Source: REIN MLS
Est. payment
$3,230/mo
Edit below
Price / sq ft
$344
1,498 sq ft
Days on market
71
HOA
None
Year built
1985
41 yrs old
Beds
2
Full Baths
2
Half Baths
0
Sq Ft
1,498
Garage
No
About this home
Why shouldn't every day feel like a vacation? Live your best life now in this spacious 2 bedroom/2 bathroom condominium offering open and functional living nestled within a premier waterfront community. From sunrise to sunset, from Lake Rudee to the Atlantic, the incredible views from your private balcony change daily. Additional amenities within the complex include secured entrance, assigned parking, private storag…
Listed by David Smith · Shield Realty Co. Inc.
VaHome Team property overview
Meet 500 Winston Salem Ave #207 — a 1,498-square-foot, two-bedroom, two-bath condo in Virginia Beach's Ocean Way Condominium community, built in 1985 and sitting steps from the water with Dam Neck Annex just six minutes away.
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Why this home stands out
What sets this unit apart is the combination of generous square footage and a location that genuinely earns the word 'coastal.' At 1,498 square feet, this is not a cramped beach condo — you get real living space, two full baths, and a second bedroom that works equally well as a guest room or home office. Add restaurants literally at your doorstep and a military commute measured in single-digit minutes, and the address does a lot of heavy lifting.
OCEAN WAY CONDOMINIUM and the Virginia Beach real estate market
Ocean Way Condominium sits in the southern end of Virginia Beach, in a stretch of the city where the vibe shifts from boardwalk-busy to genuinely laid-back coastal. The community was developed in the mid-1980s and carries the relaxed, established character you'd expect from a neighborhood that has been a local favorite for decades. Residents here are close to the Rudee Inlet area — one of the more scenic and active waterfront pockets in the city — without being in the thick of the resort strip. If you've been browsing condos for sale in Virginia Beach, this pocket of the 23451 zip code tends to stand out for its walkability and the density of good things within a short stroll. Virginia Beach as a whole offers a rare mix: military infrastructure, a serious food scene, outdoor recreation, and a coastal lifestyle that doesn't require a vacation to access. Ocean Way Condominium puts you right in the middle of all of it.
What's nearby
Daily life is remarkably easy from this address. Prise's Food Mart covers quick grocery runs at just half a mile out, and Tienda Latina La Tapatia 2 is a mile away for specialty ingredients. For coffee, you've got Zeke's, Virginia Beach Coffee Co, and a 7-Eleven all within half a mile. Fitness options are plentiful — CoreStrength Center is 0.3 miles out, TakeOver Athletics Shadowlawn is half a mile, and Kaizen Athletics is under a mile. Grommet Island Park, The Jetty, and Marshview Park are all within walking distance for outdoor time. And for dinner? Docktails VB and The Dock Grill are essentially at your front door, with Rudee's Restaurant and Cabana Bar just a tenth of a mile away.
For different buyers
For military families relocating
Dam Neck Annex is six minutes from your front door, and NAS Oceana is seven. For military families, that kind of commute changes daily life in a real way — more time at home, less time in traffic. VA loan eligibility makes this unit even more accessible, and BAH rates for the Virginia Beach area align well with this price tier. It's a practical address that doesn't ask you to sacrifice comfort for convenience.
For buyers drawn to character
If you're drawn to homes with a sense of place rather than a generic floor plan, Ocean Way Condominium delivers. Built in 1985, the community has the kind of settled, mature character that newer developments spend years trying to manufacture. You're steps from working waterfront, surrounded by independent restaurants, and in a neighborhood where people actually walk places. This is a house for sale virginia beach va searches often overlook — and that's exactly what makes it worth a closer look.
Frequently asked questions
How far is 500 Winston Salem Ave #207 from Dam Neck Annex?
Dam Neck Annex is approximately six minutes by car from this address. That's one of the shorter military commutes you'll find in the Virginia Beach condo market.
How far is 500 Winston Salem Ave #207 from NAS Oceana?
NAS Oceana is about seven minutes away by car, making this unit a strong option for personnel assigned to either of the two nearest installations.
Is 500 Winston Salem Ave #207 in a flood zone?
Flood zone information for this address is displayed in the FloodRisk tile on this page — check there for the current FEMA designation and what it means for insurance requirements.
Does Ocean Way Condominium have an HOA?
Yes, Ocean Way Condominium is a managed condominium community with an HOA. Specific fee details and what the association covers are worth confirming with current disclosures.
What is the walkability like around 500 Winston Salem Ave #207?
Walkability is genuinely strong here — restaurants, coffee shops, a gym, and multiple parks are all within half a mile, and the Rudee Inlet waterfront is right in the neighborhood.
Ready to see #207 in person? Tom and Dariya Milan at LPT Realty know this neighborhood well — reach out and they'll set up a tour on your schedule.
Summary generated by AI from public records and publicly available information.
Location & Neighborhood
Location & Street View
500 Winston Salem AVE #207, Virginia Beach
Map and Street View imagery © Google. Imagery may not be current.
Map data ©Google. Click and drag inside the map to explore the surrounding area.
Flood Risk
Property Details
Bedrooms
2
Full Baths
2
Half Baths
0
Approx Sq Ft
1,498
Stories
1
Fireplaces
0
Flooring
Carpet, Ceramic
Heating
Cooling
Laundry
Interior Features
N/A
Appliances
Dishwasher, Dryer, Microwave, Elec Range, Refrigerator, Washer
Sale & Tax History
List Price
$515,000
Price / Sq Ft
$344
Annual Taxes
$4,887
Monthly Tax
$407
HOA
None
Tax Rate (effective)
0.95%
Sale Timeline (this listing)
| Event | Date | Price | Detail |
|---|---|---|---|
| Listed | Feb 27, 2026 | $515,000 | — |
| Currently listed | — | $515,000 | — |
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:
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.
About buying in Virginia Beach
Virginia Beach is the largest city in Hampton Roads and one of Virginia's most desirable real estate markets. From oceanfront condos along the boardwalk to golf-course communities in Kempsville, established family neighborhoods in Great Neck, and waterfront homes along the Lynnhaven River, the housing inventory here is unusually varied. The city's strong public schools, mild coastal climate, and proximity to Naval Air Station Oceana keep buyer demand consistent year-round, and active inventory typically ranges from sub-$300K starter homes to multi-million-dollar luxury estates.
Military Commute
Drive times to nearest basesDrive 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.
Estimate your monthly payment
$3,230/moPrincipal & interest
$2,672
Property tax
$407
Home insurance
$150
PMI
None
HOA
None
Estimate only. 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.
Listed by Shield Realty Co. Inc. · MLS# 10622918
Data provided by REIN MLS. Information deemed reliable but not guaranteed.
$515,000
500 Winston Salem AVE #207, VIRGINIABEACH VA 23451
Virginia Beach, Virginia 23451
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