538 Preserve Dr, Lancaster, VA, 22503
About This Home
NEW WATER VIEW home UNDER CONSTRUCTION in the upscale WATERFRONT community of WESTERN BRANCH PRESERVES. This 4-bedroom, 3 bath, 2,628 square-foot two-story home with 2-car attached garage enjoys views of the western branch of the CORROTOMAN RIVER, is targeted for June completion, and includes a deeded boat slip. CONTEMPORARY and COASTAL, this gem was crafted by Virginia Building Solutions and boasts high-end finishes such as Hardy Plank siding with board and batten trim, luxury vinyl tile throughout, beautiful quartz countertops in kitchen with solid wood cabinetry and double farmhouse sink. The large Great room overlooks the water view screen porch and composite deck and features a modern linear fireplace. The owner’s suite offers solid wood vanity with gorgeous quartz countertop and luxury shower. Two additional bedrooms on the first level share a hall bath also with quartz countertop. The second level provides an additional bedroom and full bath plus bonus area. In addition to the waterfront access, this neighborhood offers 25 acres of common space plus 161 acres of conservation land for a total of 186 acres of green space. Very private setting just minutes to the quaint town of Kilmarnock for restaurants and shopping. The Northern offers excellent boating, fishing, crabbing and waterfront activities in a rural setting yet just 90 minutes from Richmond and a little over 2 hours from DC. Come take a look today and start living the river life by summer! Water-depth to be measured to purchaser’s satisfaction.
Getting Around
Car-Dependent
Very Limited Transit
Somewhat BikeableSchools
Construction
Condition
- Property condition: New Construction
- New construction: Yes
- Year built: 2026
Materials
- Roof: Composition
- Construction materials: Drywall,HardiPlank Type,Other
Type & Style
- Home type: SingleFamily
- Architectural style: Modular/Prefab,Two Story
- Property subType: Single Family Residence
Interior
Appliances
- Appliances included: Dishwasher,Electric Water Heater,Microwave,Oven,Refrigerator
- Laundry features: Washer Hookup,Dryer Hookup
Basement
- Basement: Crawl Space
Bedrooms & Bathrooms
- Bedrooms: 4
- Bathrooms: 3
- Full bathrooms: 3
Features
- Fireplace,Granite Counters,Main Level Primary
- Door features: Sliding Doors
- Flooring: Vinyl
- Number of fireplaces: 1
- Fireplace features: Electric
- Fireplace: Yes
- Attic: Finished
- Finished area below ground: 0
- Finished area above ground: 2,628
Heating & Cooling
- Heating features: Electric,Heat Pump
- Cooling features: Electric,Heat Pump
Interior Area
- Total interior livable area: 2,628 sqft
Property
Details
- Parcel number: 15B120
- Zoning description: R2
- Special condition: Corporate Listing
Features
- Levels: Two
- Stories: 2
- Pool features: None
- Patio & porch: Screened,Deck,Porch
- Exterior features: Deck,Dock,Porch
- Fencing: None
- Has view: Yes
- View description: Water
- Has water view: Yes
- Water view: Water
- Waterfront features: Navigable Water
- Waterbody name: Corrotoman River
Lot
- Lot size: 0.70 Acres
Parking
- Total spaces: 2
- Parking features: Attached,Garage,Boat,RV Access/Parking
- Has garage: Yes
- Attached garage spaces: 2
- Covered spaces: 2
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Drought
- Hurricane
- Strong Wind
- Coastal Flooding
- Cold Wave
- Ice Storm
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters Across Virginia Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $3,286 | $39,432 |
| Home Insurance * | $320 | $3,840 |
| Property Taxes | $265 | $3,180 |
| Electricity | $253 | $3,037 |
| Total | $4,124 | $49,488 |
Income You'd Need if You Spent...
Virginia FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2026-05-08 | Listed for sale | $700,000 |
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