Petersburg Homes under $500,000

Welcome to Petersburg, Virginia – a charming city steeped in history and brimming with Southern hospitality. Nestled along the banks of the Appomattox River, Petersburg boasts a vibrant community, rich cultural heritage, and a welcoming atmosphere that makes it a desirable place to call home.

Known for its pivotal role in the Civil War, Petersburg is home to numerous historical landmarks, including the Petersburg National Battlefield and the historic Old Towne district, where you can stroll along cobblestone streets lined with beautifully preserved 18th and 19th-century buildings. The city also offers a thriving arts scene, with galleries, theaters, and local events that celebrate the creativity of its residents.

For those looking to settle down in this delightful city, there are an array of homes available for under $500,000. Whether you’re a first-time homebuyer, a growing family, or looking to downsize, Petersburg presents a diverse selection of properties that cater to various lifestyles and preferences. From charming single-family homes with spacious yards to modern townhouses with convenient amenities, you’re sure to find the perfect fit for your needs and budget.

Additionally, Petersburg’s strategic location provides easy access to major highways and nearby cities, making it an ideal spot for commuters. With its friendly community, affordable housing options, and a wealth of recreational opportunities, Petersburg, VA, is not just a place to live – it’s a place to thrive. Come discover your new home in this enchanting city!

Newest Petersburg Homes under $500,000

$322,999

4 Beds ⋅ 3 Baths ⋅ CVR-2627177 MLS

Welcome to this beautiful new construction home offering approximately 1,900 square feet, 4 bedrooms, and 3 full bathrooms. Designed with a modern open-concept layout, this home features stylish finishes and thoughtful details throughout. The spacious kitchen showcases white cabinetry, stainless steel appliances, a large center island with quartz-style countertops, contemporary pendant lighting, and distinctive wood-accent details. The open living area is highlighted by a modern electric fireplace, custom accent wall, and unique ceiling details, creating an impressive space for both everyday living and entertaining. The home also offers generously sized bedrooms, beautifully finished bathrooms with tiled tub/shower surrounds, and a spacious primary suite with ample closet space. Outside, enjoy a covered rear porch, fenced backyard, detached storage shed, and off-street parking. With its modern design, spacious floor plan, and attention to detail, this move-in-ready new construction is a must-see!

215 Mars Street, Petersburg

$279,900

3 Beds ⋅ 2 Baths ⋅ CVR-2626089 MLS

SELLER-PAID 2-1 RATE BUYDOWN AVAILABLE! Qualified buyers may be eligible for reduced mortgage payments during the first two years of homeownership. Contact listing agent for details. Located in Petersburg, 1420 Ferndale Ave is a gorgeous new-construction home loaded with stylish finishes and thoughtful details throughout! It's a standout from the street with crisp white vertical siding, a charcoal gable, black shutters, new landscaping, a paved parking pad, and a covered wood front porch with keyless entry. Step inside to LVP flooring, recessed lighting, and sunny windows at every turn. The foyer opens right into an expansive Great Room where the living room, dining area, and kitchen flow seamlessly together. The kitchen is a showstopper with white shaker-style cabinetry with crown molding, matte black hardware, Quartz counters, a glossy tile backsplash, stainless steel appliances including a French-door refrigerator, and a large island with a beautiful black veined top, woven pendant lights, and barstool seating. Just beyond the kitchen, a utility room with washer/dryer hookups leads out to the rear deck. Down the hall, the primary suite offers windows on two walls, a ceiling fan/light, recessed lighting, and a walk-in closet with double hanging rods. The ensuite is equally impressive with a fluted double vanity, arched black-framed mirrors, tile floors, and a walk-in shower featuring a rain head, handheld sprayer, wood-look tile accent wall, built-in niche, transom window, and glass door. Two additional bedrooms offer ceiling fan/lights and ample closet space and share a hall bath with black fixtures and a tub/shower framed in bold black-and-white striped tile—a fun detail you won't see every day! Out back, the deck overlooks a privacy-fenced backyard that's perfect for relaxing or entertaining, and a gated gravel path runs along the side of the home. With everything on one level and just minutes from Old Towne, I-95, and I-85, 1420 Ferndale Ave is ready for you to move right in!

1420 Ferndale Avenue, Petersburg

$143,900

3 Beds ⋅ 2 Baths ⋅ CVR-2626976 MLS

This 3 bedroom, 1 1/2 bath rancher is a great starter or downsize home waiting for you to personalize it to make it your home. Located on Lakewood Dr beside Thacker Hardware and is less than two minutes from the Rives Road and South Crater Road exists of I-95. Close to everything you need!

324 Lakewood Drive, Petersburg

$389,990

4 Beds ⋅ 3 Baths ⋅ CVR-2627055 MLS

NOVEMBER QUICK MOVE-IN ON A CORNER LOT! Enjoy new construction without the wait in this nearly completed Cedar at Berkeley Estates, featuring over $31,000 in total savings! Tour the actual home now and see the layout, finishes, and setting firsthand. This 1,903-square-foot home offers 4 bedrooms, 2.5 baths, a separate first-floor flex room, and an attached two-car garage. Luxury vinyl plank flooring runs throughout the first floor, connecting an open great room, dining area, and kitchen with a large island. The separate flex room gives you a dedicated space for an office, playroom, or hobbies without giving up a bedroom. Step onto the included 10’ x 14’ deck for outdoor dining, morning coffee, or relaxing at the end of the day. Upstairs, the primary suite features a walk-in closet and private bath, with three additional bedrooms providing room to spread out. All appliances are included, even the refrigerator, washer, and dryer! Located in an established Petersburg community near I-95 and Wagner Road, this home combines a convenient location with a corner-lot setting and the benefits of buying new. Schedule your tour and explore your opportunity to move this November! Additional incentives available for eligible military and hometown heroes.

124 Hackberry Drive, Petersburg

$97,000

3 Beds ⋅ 1 Baths ⋅ CVR-2626996 MLS

This property is an investor's special-a true diamond in the rough. Investors only, cash only. Priced to reflect the need for renovations, this home is a complete interior overhaul. 3 bedrooms, 1 bath, and nearly 1,000 square feet. This is a prime opportunity for a buyer ready to transform it. Sold as-is, no repairs. Bring your vision and your cash!

146 Culpeper Avenue, Petersburg

$269,999

4 Beds ⋅ 2 Baths ⋅ CVR-2627023 MLS

125 Center Street, Petersburg

$139,950

3 Beds ⋅ 1 Baths ⋅ CVR-2626979 MLS

OFFORDABLE HOME + INCOME POTENTIAL! Come and take a look at the possibilities at 1227 Montgomery Ave. Offered at just $ 139,950.00, this 3-bedroom, 1-bath home provides approximately 980 square feet and an opportunity for that first time buyer, downsizer, or investor looking for that income producing property. For investors, this property has the rental income of $ 1450- $1500 per month, making this purchase price especially worth a closer look. For possible owner occupants, it offers an affordable path to homeownership with three bedrooms, a functional layout, and a manageable sized home. With very little work needed unless to further improve this is a great turn-key property. Enjoy on street or off-street driveway for a single car. This property offers a lot 48x153, and over 6,974 square feet. Inside enjoy the entrance to the living room flowing into kitchen (space for table), with 3-bedrooms, and a single full bathroom. One room could be converted to dining room or potential office or game room. Enjoy the lot and small back porch which opens up to a large, paved patio area, and small walkway to already paved potential shed platform. With a one-way traffic street, you will enjoy little through traffic, and new construction on the street you will also be part of a neighborhood and future growth. With partial 4-foot chain-link fence on one side, this leaves the potential for a large, landscaped back yard, and the possibility for more privacy.

1227 Montgomery Avenue, Petersburg

$199,950

CVR-2626969 MLS

Buy & Hold Investors – Great Duplex Opportunity in Petersburg, VA! Looking to add a solid cash-flowing property to your portfolio? Don't miss this fantastic duplex in the growing Petersburg market! This well-maintained 2-unit duplex features two 2-bedroom, 1-bath apartments. Both units are now vacant, giving the new owner the flexibility to place new tenants at current market rents or occupy a unit. Both apartments have a proven rental history and can comfortably generate $1,100 to $1,350 per month per unit, offering strong income potential. The property has been previously renovated and is in move-in ready condition, minimizing upfront capital expenses. Features include: -Two 2-bedroom, 1-bath units -Previously renovated interiors -Electric baseboard heat -Window A/C units -Strong rental demand in the area -Excellent opportunity for immediate cash flow and long-term appreciation Whether you're a seasoned investor or looking to purchase your first income-producing property, this duplex offers an affordable opportunity to build wealth through real estate.

927 Farmer Street, Petersburg

$200,000

CVR-2626872 MLS

Home is being sold as is.

727 harding Street, Petersburg

$379,900

3 Beds ⋅ 2 Baths ⋅ CVR-2626207 MLS

Custom-built in 2024 and Move-In Ready! This one-level rancher in Ramblewood offers the quality of new construction without the wait. Roughly 1,690 square feet of thoughtfully designed one-level living sits on about half an acre in a quiet, established Petersburg neighborhood. An open floor plan connects the living, dining, and kitchen spaces, with a pass-through from the kitchen that keeps everything conversational. Natural light pours in throughout the day, softened by the mature trees surrounding the property. The kitchen boasts beautiful white counters, white custom cabinets, open shelving, recessed lights and an intimate breakfast area with modern light fixture. An electric fireplace with large mantle anchors the living area, and updated fixtures carry throughout the home. A mix of LVP and carpet keeps things practical and comfortable. The first-floor primary suite includes a walk-n closet, private ensuite bath complete with linen closet, standup shower with rolling glass frame, and soaking tub. Two additional bedrooms with sizable closets share access to the full hall bathroom. A pull down attic provides additional space for storage. The attached two-car garage provides direct entry to a utility/laundry room complete with a dropzone area adding convenience and practicality without sacrificing style and aesthetic. The shaded backyard has a cozy patio area with a large brick wood burning fireplace extending the living space outdoors- ideal for cool evenings and weekend gatherings! Location delivers! Easy access to I-95 and I-85, 20 minutes to Fort Lee, 30 minutes to downtown Richmond, convenient to Dogwood Trace Golf Course, and everything the greater Richmond area has to offer!

1817 Bogese Drive, Petersburg

$299,000

3 Beds ⋅ 2 Baths ⋅ CVR-2626648 MLS

Step into the timeless elegance of this beautifully renovated circa 1860 Italianate home, ideally situated in Petersburg’s Historic District and just minutes from the shops and restaurants of Old Towne. Thoughtfully restored while offering the comforts of modern living, this exceptional residence showcases exquisite craftsmanship throughout. Gorgeous heart pine floors, soaring 11-foot ceilings, and extraordinary original woodwork create an inviting sense of history and character. The spacious great room provides an ideal gathering space and opens directly to a fully functional eat-in kitchen featuring hard-surface countertops and stainless-steel appliances. The first floor offers a comfortable bedroom and full bathroom, providing flexibility for guests or one-level living. Upstairs are two additional bedrooms, a full bathroom, and a small bonus room with potential as a fourth bedroom, office, or creative space. A large laundry room adds valuable convenience. Major improvements include dual-zone heat pumps installed in 2018, a recently re-laid slate roof, and recently rebuilt interior gutters. Outside, enjoy a private, privacy-fenced courtyard—perfect for relaxing, entertaining, or creating your own urban garden retreat. This remarkable home offers a rare opportunity to own a completely renovated piece of Petersburg history while being close to the vibrant shops, restaurants, and attractions of Old Towne.

839 W High Street, Petersburg

$215,000

CVR-2626484 MLS

1009 Hinton St offers a fantastic investment opportunity with two updated units, ideal for adding to your rental portfolio or owner-occupying one unit while generating income from the other. Recent renovations provide peace of mind with modern finishes tenants love, while the duplex layout offers strong flexibility and cash flow potential. Conveniently located near downtown Petersburg, major highways, shopping, dining, and local employers. Whether you’re a seasoned investor or just getting started, this turnkey multifamily property is an opportunity you won’t want to miss!

1007-1009 Hinton Street, Petersburg

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Some listings may be duplicated in the search results due to the co-mingling of listings from more than one multiple listing service. Should there be different listing information between the duplicated listings; user is advised to verify the accuracy of the listing information before making any financial decisions.