1222 Wilcox Ave · Portsmouth, VA 23704

$219,000

4 bd · 3.5 ba · 2,068 sqft · SingleFamily public records · 42 Days on market

Built 2008 6,490 sqft lot Est $323k · 32% under ↓ 12% since listing

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +21.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +5.9/10.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 4-bedroom, 3.5-bath home in the heart of Portsmouth offering over 2,000 square feet of living space on a 0.149-acre lot, brimming with potential. This property provides an excellent canvas for customization and value-add improvements. There’s ample parking, and the detached garage allows for plenty of storage space! Situated on a spacious lot Conveniently located near dining, shopping, and more! Call today for more information and to schedule your tour!

Key facts

• 6,490 sq ft lot
• 2 garage spots
• Built 2008

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath single-family listed at $219k.

Deal economics

• At list price, monthly cash flow is $315 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $219k).
• Recommended offer: $212k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 4.6% in Portsmouth — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#172 in VA) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment C-, crime F, commute F.
• Portsmouth City Public School District (urban): math 34% / reading 58% proficiency, ranked #107 of 131 in VA (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Douglass Park Elementary (math 12% / reading 37%, grade F, #1,051 of 1,108 statewide, top 96%, 550 students, 98% FRL) — zoned schools average 98% FRL vs 60% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 46% district-wide (-22 pts) — the specific schools serving this property underperform the Portsmouth City Public School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.3%/yr); 131 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 300 units permitted in Portsmouth city in 2024 (112 in 5+ unit buildings).
• At $2,388/mo this rent would consume 58% of the median local household income ($50k/yr) (locally 1727% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $212,430 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.09% ✓
• Cap rate: 8.02%
• Cash-on-cash: 6.16%
• DSCR: 1.27
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $322,608
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1222 Wilcox Ave	0.00mi	4/3.5	2,068 (0%)	0mo	$248,000	$120	100
1213 Centre Ave	0.03mi	4/2.5	2,100 (+2%)	1mo	$344,000	$164	91
1211 Centre Ave	0.03mi	4/2.5	2,000 (-3%)	3mo	$339,000	$170	87
1611 Highland Ave	0.32mi	4/3.0	2,152 (+4%)	1mo	$349,900	$163	76
2100 Elm Ave	0.44mi	4/3.5	1,988 (-4%)	1mo	$265,000	$133	72
815 Argyle St	0.40mi	4/2.5	2,000 (-3%)	2mo	$330,000	$165	70
1527 Highland Ave	0.26mi	4/3.0	1,840 (-11%)	4mo	$340,000	$185	64
2000 Effingham St	0.62mi	5/3.0 (+1)	2,000 (-3%)	3mo	$299,900	$150	56
2331 Azalea Ave	0.47mi	3/2.0 (-1)	1,872 (-10%)	0mo	$283,900	$152	51
1907 Azalea Ave	0.66mi	3/1.0 (-1)	2,098 (+2%)	3mo	$115,000	$55	49
1919 Atlanta Ave	0.52mi	4/2.0	1,764 (-15%)	4mo	$136,100	$77	42
2108 Evergreen Pl	0.71mi	4/2.5	1,800 (-13%)	2mo	$280,000	$156	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.31% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.76×
• Total profit: $-14,613
• Equity at exit: $32,654

10-year hold

• IRR: 3.6%
• Equity multiple: 1.27×
• Total profit: $16,477
• Equity at exit: $18,935

Cash invested: $61,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State Virginia: 55 Moderately Landlord-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

VRLTA gives some tenant protections; Northern Virginia courts slower; rural VA landlord-leaning.

Methodology + full state rankings →

ZIP-level market 23704

• Home prices YoY: -4.6%
• Rents YoY: 3.3%
• Active inventory: 131
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,388 high
• Mortgage (P&I): −$1,148
• Tax from tax record: −$332 /mo · $3,980/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$501
• Net cashflow: $315

Break-even live

Break-even rent $1,989

Max offer price $219,000

Occupancy floor 82%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1409 Wilcox Ave Portsmouth, VA	3.0	2.5	1800	$2,500	$1.39	43d	1	0.09mi
2215 Atlanta Ave Portsmouth, VA	4.0	1.0	1628	$2,150	$1.32	7d	1	0.39mi
2111 Atlanta Ave Portsmouth, VA	3.0	2.0	1418	$2,395	$1.69	43d	1	0.45mi
919 Jefferson St Portsmouth, VA	4.0	2.5	2026	$2,500	$1.23	23d	1	0.45mi
1508 Richmond Ave Portsmouth, VA	4.0	2.0	1600	$2,000	$1.25	3d	1	0.78mi
1440 Lasalle Ave Portsmouth, VA	4.0	2.0	1493	$2,500	$1.67	23d	1	0.84mi
10 Parkside Pl Portsmouth, VA	3.0	2.0	1800	$2,095	$1.16	17d	1	0.98mi
1321 Columbia St Unit 1533640P Portsmouth, VA	3.0	2.5	1582	$5,609	$3.55	7d	1	1.14mi
1447 Talley Cir Portsmouth, VA	3.0	2.5	1440	$2,000	$1.39	23d	1	1.15mi
20149 County St Portsmouth, VA	3.0	2.5	1738	$2,400	$1.38	43d	1	1.21mi
213 Monmouth St Portsmouth, VA	3.0	2.5	1800	$2,450	$1.36	44d	1	1.25mi
35 Fairview Cir S Portsmouth, VA	4.0	1.5	1462	$2,100	$1.44	12d	1	1.41mi
134 Monmouth St Portsmouth, VA	3.0	2.5	1440	$2,450	$1.70	43d	1	1.42mi

Listing history 16 events

1. 2026-03-25
   status Under Contract
2. 2026-03-06
   status Active
3. 2026-01-28
   status Under Contract
4. 2026-01-02
   listed $219,000 Active
5. 2022-12-19
   soldstatus $340,000
6. 2022-10-31
   status Under Contract
7. 2022-09-08
   price $340,000
8. 2022-08-19
   listed $350,000 Active
9. 2022-08-10
   historical
10. 2022-07-07
    historical Active Under Contract
11. 2022-06-18
    status Active
12. 2022-06-11
    historical Active Under Contract
13. 2022-06-06
    listed $350,000 Active
14. 2018-05-11
    soldstatus $247,000
15. 2018-04-06
    status Under Contract
16. 2018-03-14
    listed $249,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast VA · Resets to sale price

• Current annual tax: $3,980 · $332/mo
• Projected year-2 tax: $3,980 · $332/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,652
• − Mortgage interest: −$12,267
• − Property taxes: −$3,980
• − Insurance: −$1,095
• − Repairs & maintenance: −$2,292
• − Management: −$2,292
• − Depreciation: −$6,371
• Taxable income: $355
• Est. tax owed @ 24.0%: −$85
• After-tax cash flow: $3,694/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Portsmouth City Public School District
• NCES district ID: 5103000
• Math proficiency: 34% ▼ -40.00%
• Reading proficiency: 58% ▼ -12.00%
• Median HH income: $46,152
• Composite: 39.01/100
• National rank: #4071
• State rank: #107 of 131 in VA

Livability — Portsmouth

• Score: 73/100
• State rank: #172
• US rank: #5381

Category grades

Amenities A+ Commute F Cost of living A+ Crime F Employment C- Housing A+ Health & safety A+ User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portsmouth, VA
• County: Portsmouth City · 96,366 people
• City population: 96,366
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• Population (ZIP): 19,207
• Household income: $49,583
• Rent vs Own: 59.8% rent · 40.2% own
• Severe rent burden: 1727.0

Population outlook (Portsmouth County) Hauer SSP2

• Today (2025): 96,730 people
• By 2030: 96,760 · +0.0%
• By 2040: 96,573 · -0.2%
• By 2050: 95,606 · -1.2%
• By 2075: 93,579 · -3.3%
• By 2100: 83,756 · -13.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (66%)
• Race & ethnicity: Black 66% White 24% Two or more races 6% Hispanic / Latino 4% Asian 2%
• Common ancestry: Slovak 1% Romanian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Portsmouth

• 2024 margin: Solid D (+38.6) · D 68.6% · R 30.0% · Other 1.4%
• 2008→2024 swing: -0.7pp no change · 2008: 39.3pp · 2024: 38.6pp
• All cycles: 2024: D+38.6 2020: D+40.8 2016: D+36.5 2012: D+39.6 2008: D+39.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.69%
• Current HPI: 322.7335
• Rent YoY: ▲ 3.31%
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

Industry mix (Fortune 500 HQ in VA)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	4	$236B
▸Technology / Defense	3	$32B
▸Financial Services	2	$176B
▸Utilities	2	$27B
▸Insurance	2	$25B
▸Technology	2	$15B

Price history

-12.4% since first listed

16 events — show timeline

• 2026-03-25 Pending — REINMLS
• 2026-03-06 Relisted — REINMLS
• 2026-01-28 Pending — REINMLS
• 2026-01-02 Listed $219,000 REINMLS
• 2022-12-19 Sold (Public Records) $340,000 Public Records
• 2022-10-31 Pending — REINMLS
• 2022-09-08 Price Changed $340,000 REINMLS
• 2022-08-19 Listed $350,000 REINMLS
• 2022-08-10 Listing Removed — REINMLS
• 2022-07-07 Contingent — REINMLS
• 2022-06-18 Relisted — REINMLS
• 2022-06-11 Contingent — REINMLS
• 2022-06-06 Listed $350,000 REINMLS
• 2018-05-11 Sold (Public Records) $247,000 Public Records
• 2018-04-06 Pending — REINMLS
• 2018-03-14 Listed $249,900 REINMLS

Property tax history

+3.5%/yr

Latest (2025): $3,980 · +1.9% YoY. Source: county tax records.