1618 Parker Ave · Portsmouth, VA 23704

$129,900

2 bd · 1.0 ba · 832 sqft · SingleFamily public records · 52 Days on market

Built 1952 7,405 sqft lot $156/sqft · 32% below area Est $192k · 32% under

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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 +22.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.8/10.0
• 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 MLS

Charming 2-bedroom, 1-bath single-family bungalow full of potential and ready for your personal touch. This home offers a cozy layout and endless possibilities for customization. The finished attic creates an additional bedroom, work, or entertainment space. Spacious yard and 360 sq ft (per tax records) detached garage. Ideal opportunity. Conveniently located near Navy Medical Center Portsmouth, local amenities, major highways, and more. Don’t miss your chance to make this property your own! 3D Virtual Tour available!!

Key facts

• Spacious yard
• Finished attic
• Conveniently located

Tags

• FINISHED ATTIC
• SPACIOUS YARD
• DETACHED GARAGE
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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.
• Market conditions: Rents rising (+3.3%/yr); 131 active listings in the ZIP; 40 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).
• This rent runs 34% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.08% ✓
• Cap rate: 8.28%
• Cash-on-cash: 7.11%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

• ARV (median comp): $192,000
• List price: $129,900
• Delta: -32.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1921 Nashville Ave	0.52mi	2/1.0	800 (-4%)	1mo	$194,000	$243	69
1200 Fayette St	0.34mi	3/1.0 (+1)	814 (-2%)	9mo	$133,500	$164	68
1211 Fayette St	0.33mi	2/1.0	881 (+6%)	10mo	$169,000	$192	67
2220 Camden Ave	0.35mi	3/1.0 (+1)	780 (-6%)	4mo	$100,000	$128	65
2200 Deep Creek Blvd	0.49mi	2/1.0	768 (-8%)	1mo	$200,000	$260	63
1327 Lansing Ave	0.17mi	2/1.0	720 (-14%)	11mo	$205,000	$285	61
1432 Lasalle Ave	0.32mi	3/1.5 (+1)	882 (+6%)	9mo	$195,600	$222	61
1111 Fayette St	0.38mi	3/1.0 (+1)	905 (+9%)	9mo	$72,000	$80	55
2600 Roanoke Ave	0.57mi	3/1.0 (+1)	900 (+8%)	2mo	$107,000	$119	53
1216 Summit Ave	0.61mi	2/1.0	760 (-9%)	12mo	$175,000	$230	48

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: -5.0%
• Equity multiple: 0.81×
• Total profit: $-6,863
• Equity at exit: $19,369

10-year hold

• IRR: 5.0%
• Equity multiple: 1.37×
• Total profit: $13,579
• Equity at exit: $11,231

Cash invested: $36,372 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,399 high
• Mortgage (P&I): −$681
• Tax from tax record: −$154 /mo · $1,848/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $216

Break-even live

Break-even rent $1,126

Max offer price $129,900

Occupancy floor 80%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1416 Richmond Ave Portsmouth, VA	2.0	1.0	1024	$1,150	$1.12	43d	1	0.10mi
1915 Lansing Ave Portsmouth, VA	3.0	1.0	1085	$1,675	$1.54	3d	1	0.28mi
2007 Elm Ave Portsmouth, VA	3.0	1.0	903	$1,300	$1.44	20d	1	0.30mi
1915 Des Moines Ave Portsmouth, VA	3.0	1.0	1070	$1,700	$1.59	16d	1	0.30mi
1915 Des Moines Ave Portsmouth, VA	3.0	1.0	1070	$1,700	$1.59	23d	1	0.30mi
923 Randolph St Portsmouth, VA	2.0	1.0	800	$1,062	$1.33	43d	1	0.38mi
1029 Green St Portsmouth, VA	2.0	1.5	802	$1,199	$1.50	17d	1	0.57mi
1003 Green St Unit 1003 Portsmouth, VA	2.0	1.5	837	$1,195	$1.43	23d	1	0.59mi
1100 High St Portsmouth, VA	2.0–3.0	1.5–2.0	1003	$1,010	$1.01	2d	5	0.60mi
811 Randolph St Unit A Portsmouth, VA	2.0	1.0	800	$1,150	$1.44	43d	1	0.62mi
915 Green St Portsmouth, VA	2.0	1.0	837	$1,195	$1.43	43d	1	0.66mi
622 Effingham St Portsmouth, VA	2.0–3.0	1.5–2.0	1027	$507	$0.49	23d	2	0.67mi
2810 Roanoke Ave Portsmouth, VA	3.0	1.5	1100	$2,100	$1.91	43d	1	0.69mi
2756 Peach St Portsmouth, VA	2.0	1.5	1040	$1,495	$1.44	23d	1	0.70mi
714 King St Portsmouth, VA	2.0	2.0	935	$1,899	$2.03	43d	1	0.73mi
714 King St Unit 00 714204 Portsmouth, VA	1.0	1.0	670	$1,499	$2.24	17d	1	0.73mi
1140 London Blvd Portsmouth, VA	2.0	2.0	1016	$1,902	$1.87	3d	1	0.74mi
533 Columbia St Portsmouth, VA	2.0	2.0	1110	$1,495	$1.35	43d	1	0.77mi
531 County St Unit 3 Portsmouth, VA	1.0	1.0	725	$900	$1.24	12d	1	0.79mi
531 County St Unit 3 Portsmouth, VA	1.0	1.0	725	$900	$1.24	7d	1	0.79mi
2906 Chestnut St Unit 1328007P Portsmouth, VA	2.0	1.0	947	$4,650	$4.91	7d	1	0.82mi
710 Dinwiddie St Portsmouth, VA	1.0	1.0	850	$1,150	$1.35	3d	1	0.82mi
941 Holladay St Portsmouth, VA	1.0	1.0	720	$900	$1.25	43d	1	0.87mi
605 Dinwiddie St Unit B Portsmouth, VA	2.0	1.0	900	$1,650	$1.83	43d	1	0.87mi
548 Madison St Portsmouth, VA	2.0	1.0	900	$1,349	$1.50	16d	3	0.87mi
548 Madison St Portsmouth, VA	1.0	1.0	750	$1,249	$1.67	43d	1	0.87mi
548 Madison St Unit 542-21-C Portsmouth, VA	2.0	1.0	900	$1,349	$1.50	23d	1	0.88mi
548 Madison St Unit 54311--D Portsmouth, VA	1.0	1.0	750	$1,249	$1.67	23d	1	0.88mi
507 High St Portsmouth, VA	1.0	1.0	686	$1,474	$2.15	3d	1	0.89mi
401 Constitution Ave Unit B Portsmouth, VA	1.0	1.0	600	$1,100	$1.83	43d	1	0.91mi
800 Crawford St Portsmouth, VA	1.0	1.0	825	$1,599	$1.94	23d	1	0.99mi
525 North St #1 Portsmouth, VA	1.0	1.0	630	$1,100	$1.75	43d	1	1.00mi
231 Edison Ave Portsmouth, VA	2.0	1.5	1100	$1,275	$1.16	19d	1	1.07mi
231 Edison Ave Unit 231 Portsmouth, VA	2.0	1.5	1050	$1,275	$1.21	10d	1	1.07mi
3304 Killian Ave Portsmouth, VA	3.0	1.0	800	$2,000	$2.50	23d	1	1.07mi
303 Effingham St Unit S-5H Portsmouth, VA	1.0	1.0	604	$1,170	$1.94	23d	1	1.07mi
303 Effingham St Unit S-4B Portsmouth, VA	1.0	1.0	604	$1,050	$1.74	23d	1	1.07mi
303 Effingham St Unit S-2F Portsmouth, VA	3.0	2.0	1122	$1,950	$1.74	23d	1	1.07mi
303 Effingham St Unit N-2K Portsmouth, VA	2.0	1.0	872	$1,375	$1.58	23d	1	1.07mi
303 Effingham St Unit S-8B Portsmouth, VA	1.0	1.0	604	$1,150	$1.90	23d	1	1.07mi

Listing history 8 events

1. 2026-06-07
   statusdays on market $129,900 Under Contract 52 DOM
2. 2026-06-03
   days on market $129,900 Active Under Contract 50 DOM
3. 2026-06-02
   days on market $129,900 Active Under Contract 49 DOM
4. 2026-06-01
   days on market $129,900 Active Under Contract 48 DOM
5. 2026-05-31
   days on market $129,900 Active Under Contract 47 DOM
6. 2026-04-20
   status Active 530-char remark

   Show marketing remark (530 chars)

   Charming 2-bedroom, 1-bath single-family bungalow full of potential and ready for your personal touch. This home offers a cozy layout and endless possibilities for customization. The finished attic creates an additional bedroom, work, or entertainment space. Spacious yard and 360 sq ft (per tax records) detached garage. Ideal opportunity. Conveniently located near Navy Medical Center Portsmouth, local amenities, major highways, and more. Don’t miss your chance to make this property your own! 3D Virtual Tour available!!

7. 2026-04-20
   historical 530-char remark

   Show marketing remark (530 chars)

   Charming 2-bedroom, 1-bath single-family bungalow full of potential and ready for your personal touch. This home offers a cozy layout and endless possibilities for customization. The finished attic creates an additional bedroom, work, or entertainment space. Spacious yard and 360 sq ft (per tax records) detached garage. Ideal opportunity. Conveniently located near Navy Medical Center Portsmouth, local amenities, major highways, and more. Don’t miss your chance to make this property your own! 3D Virtual Tour available!!

8. 2026-04-14
   listed $129,900 Active 530-char remark

   Show marketing remark (530 chars)

   Charming 2-bedroom, 1-bath single-family bungalow full of potential and ready for your personal touch. This home offers a cozy layout and endless possibilities for customization. The finished attic creates an additional bedroom, work, or entertainment space. Spacious yard and 360 sq ft (per tax records) detached garage. Ideal opportunity. Conveniently located near Navy Medical Center Portsmouth, local amenities, major highways, and more. Don’t miss your chance to make this property your own! 3D Virtual Tour available!!

ⓘ 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: $1,848 · $154/mo
• Projected year-2 tax: $1,848 · $154/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 6/10 Major FEMA zone X (shaded) · 68% 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: $16,784
• − Mortgage interest: −$7,276
• − Property taxes: −$1,848
• − Insurance: −$650
• − Repairs & maintenance: −$1,343
• − Management: −$1,343
• − Depreciation: −$3,779
• Taxable income: $546
• Est. tax owed @ 24.0%: −$131
• After-tax cash flow: $2,456/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

3 events — show timeline

• 2026-04-20 Relisted — REINMLS
• 2026-04-20 Listing Removed — REINMLS
• 2026-04-14 Listed $129,900 REINMLS

Property tax history

+24.2%/yr

Latest (2025): $1,848 · +2.0% YoY. Source: county tax records.