936 OLD FERRY RD Grimstead, VA 23064
OPEN HOUSE
Wed Jul 02, 2:00pm - 3:00pm
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 2,001 sqft
Price per Sqft $224
Subdivision Gwynn'S Island
MLS Listing ID VAMH2000100
Style Cape Cod
Bedrooms 4
Full Baths 2
HOA Y/N N
Abv Grd Liv Area 2,001
Year Built 1953
Annual Tax Amount $4,275
Tax Year 2024
Lot Size 1.040 Acres
Acres 1.04
Property Sub-Type Detached
Source BRIGHT
Property Description
This extraordinary 1.045-acre waterfront parcel represents a once-in-a-lifetime opportunity to secure premium Chesapeake Bay frontage on Virginia's coveted Gwynns Island - known as the "Jewel of the Middle Peninsula." With its protected location on Hills Bay and unobstructed western exposure, this property delivers breathtaking sunset views 365 days a year.
IMMEDIATE INCOME + FUTURE DEVELOPMENT POTENTIAL
Turn-Key Rental Income: The existing 2,001 sq ft home (built 1953, updated 2024) provides immediate rental income while you design and plan your custom waterfront estate. This well-maintained 1½-story dwelling features recent updates and has proven rental history, making it an instant cash-flowing investment.
Prime Development Site: When you're ready to build your dream home, you'll have over an acre of pristine waterfront to work with. Imagine floor-to-ceiling windows capturing those legendary Chesapeake sunsets, expansive decks overlooking the protected waters, and your private deep-water access for boating and water sports.
LOCATION ADVANTAGES
Gwynns Island Exclusivity: Accessible only by swing bridge, this island community of just 600 residents offers privacy and prestige that's increasingly rare. The protected waters of Hills Bay provide calmer conditions perfect for kayaking, fishing, and swimming, while still offering direct access to the main Chesapeake Bay.
Convenient Access:
60 minutes from Historic Williamsburg & Yorktown
60-90 minutes from Richmond, Norfolk, and Virginia Beach
3 hours from Washington DC metro area
Direct access from I-95 corridor
PROPERTY HIGHLIGHTS
1.045 acres of prime waterfront - rare large lot size on the island
Protected western exposure on Hills Bay/Piankatank River
365-day sunset views - unobstructed western horizon
Deep water access with approved dock permit for boating and water recreation
Turn-key rental home providing immediate income potential
Recent property updates (April 2024) ensure move-in readiness
Proven appreciation - assessed value increased 6.2% in 2024 alone
INVESTMENT OPPORTUNITY
This property offers the best of both worlds: immediate income generation from the existing home while you hold one of the most desirable development sites on the Chesapeake Bay. Whether you envision a grand estate, luxury vacation rental, or family compound, this protected waterfront location with sunset views provides the perfect canvas.
WHY GWYNNS ISLAND?
Mathews County boasts over 200 miles of Chesapeake Bay shoreline and is renowned as the "Pearl of the Chesapeake." Gwynns Island represents the crown jewel of this region, offering:
Exclusive island living with controlled access
World-class fishing and boating on the Chesapeake Bay
Annual Gwynns Island Festival (last weekend in June)
Sandy beaches along the eastern Bay frontage
Strong vacation rental market with year-round appeal
Stable, appreciating property values in limited inventory market
DEVELOPMENT POTENTIAL
The generous 1.045-acre size provides ample space for:
Custom waterfront estate with panoramic Bay views
Guest house or rental cottage for additional income
Private boat dock and lift with approved dock permit
Pool and outdoor entertaining areas
Mature landscaping and privacy screening
Workshop or storage buildings
READY TO BUILD YOUR LEGACY?
Properties of this caliber on Gwynn's Island are extraordinarily rare. The combination of size, location, water views, and immediate income potential creates a truly unique opportunity for the discerning buyer seeking the ultimate Chesapeake Bay lifestyle.
Don't miss your chance to own a piece of Virginia's most exclusive waterfront community.
Property will be sold at auction to the highest bidder subject to seller confirmation
Location
State VA
County Mathews
Zoning R-1
Rooms
Basement Partially Finished
Main Level Bedrooms 2
Interior
Hot Water Electric
Heating Forced Air
Cooling Central A/C
Flooring Hardwood, Tile/Brick
Heat Source Electric
Exterior
Waterfront Description Private Dock Site,Rip-Rap
Water Access Y
Water Access Desc Swimming Allowed,Boat - Powered,Canoe/Kayak,Fishing Allowed,Personal Watercraft (PWC),Private Access,Seaplane Permitted
View Bay, Scenic Vista, Water
Roof Type Composite
Accessibility None
Garage N
Building
Story 2.5
Foundation Slab
Sewer Septic = # of BR
Water Well
Architectural Style Cape Cod
Level or Stories 2.5
Additional Building Above Grade
Structure Type Plaster Walls,Dry Wall
New Construction N
Schools
Elementary Schools Lee-Jackson
Middle Schools Thomas Hunter
High Schools Mathews
School District Mathews County Public Schools
Others
Senior Community No
Tax ID 11A3-5-4
Ownership Fee Simple
SqFt Source Estimated
Special Listing Condition Auction
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