5548 Morris Neck Rd in Virginia Beach sells for $1.18 million

The $1,175,000 sale was 37% above the $855,400 market value on record, according to the City of Virginia Beach Office of the Real Estate Assessor's records.

A single-family home at 5548 Morris Neck Rd in Virginia Beach sold for $1,175,000 on August 24, 2026, according to the Virginia Beach Real Estate Assessor's sales records. The record lists William Lovett and Charlotte Lovett as the buyer.

An aerial photo shows trees covering much of the lot, with open land around it.

The City of Virginia Beach Office of the Real Estate Assessor's records show a build year of 2023 and a 4.19-acre lot. The last sale on record was $875,000 in 2024, 34% below this sale price. Listing data shows 5 bedrooms and 4 bathrooms.

This summary was written by AI from public sales records and checked by automated rules. The figures come from the record and the NetSheet.org rules engine. How we make these.

What were the closing costs in Virginia Beach?

By our estimate, the seller's two largest charges, not counting commission and prorations, were $1,175 for the grantor's tax and $705 for the regional transportation improvement fee (Hampton Roads grantor's tax). Who pays what follows Virginia Beach custom.

How much did the seller net?

By our estimate, the seller netted about $1,112,277. That assumes a 5% commission. It is before any mortgage payoff.

How much cash did the buyer bring to closing?

A buyer putting 20% down would need about $266,129 at closing. That covers the down payment and closing costs.

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