1012 Jewell Ave · Portsmouth, VA 23701

$160,000

3 bd · 2.0 ba · 1,152 sqft · SingleFamily public records · 10 Days on market

Built 1951 Est $282k · 43% under ↓ 6% since listing

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Why this score? — see what drove the B- 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 +22.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +6.2/10.0
• Rent growth +5.0/5.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great property centrally located near entertainment, landmarks, shopping, military bases, shipyards, and major hospitals, with easy access to tunnels, freeways, and bridges. Property features three bedrooms and 2 full baths in need of tlc to make it shine. Exterior offers a large backyard great for entertaining friends and family.

Key facts

• Centrally located
• Large backyard
• Built 1951

Tags

• CENTRALLY LOCATED
• LARGE BACKYARD
• EASY ACCESS TO FREEWAYS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 8.4% 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: Simonsdale Elementary (math 32% / reading 57%, grade F, #827 of 1,108 statewide, top 77%, 612 students, 100% FRL) — zoned schools average 100% FRL vs 60% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+11.9%/yr); 167 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% of comp listings sitting > 30 days — soft ceiling on asking rent; 300 units permitted in Portsmouth city in 2024 (112 in 5+ unit buildings).
• This rent runs 35% of the median local income ($62k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $45k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 6y 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

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• 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 $160,000

Questions for the listing agent

1. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.12% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.48%
• DSCR: 1.33
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $282,240
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1104 Tatem Ave	0.24mi	3/2.0	1,114 (-3%)	2mo	$327,000	$294	82
7 N Colin Dr	0.44mi	3/2.0	1,170 (+2%)	0mo	$306,000	$262	77
4801 Vick St	0.50mi	3/2.0	1,200 (+4%)	2mo	$292,000	$243	68
9 Croatan Trl	0.64mi	3/2.0	1,200 (+4%)	1mo	$259,900	$217	63
15 Byers Ave	0.28mi	2/1.0 (-1)	1,272 (+10%)	1mo	$199,000	$156	60
404 Felton Rd	0.69mi	3/1.5	1,100 (-4%)	2mo	$269,000	$245	57
34 Pollux Cir W	0.65mi	3/2.0	1,250 (+8%)	0mo	$260,000	$208	55
411 Mayflower Rd	0.70mi	3/1.0	1,208 (+5%)	2mo	$290,000	$240	54
200 Sequoia Rd	0.47mi	3/1.0	1,002 (-13%)	2mo	$253,000	$252	51
206 Jacquelyn Dr	0.67mi	3/2.0	1,021 (-11%)	1mo	$290,000	$284	49
209 Deal Dr	0.65mi	3/1.0	1,025 (-11%)	2mo	$260,000	$254	46
15 Chowan Dr	0.68mi	3/1.0	986 (-14%)	1mo	$230,000	$233	39

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $1,378
• Equity at exit: $23,857

10-year hold

• IRR: 15.0%
• Equity multiple: 2.51×
• Total profit: $67,428
• Equity at exit: $13,834

Cash invested: $44,800 (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 23701

• Rents YoY: 11.9%
• Active inventory: 167
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,794 high
• Mortgage (P&I): −$839
• Tax from tax record: −$232 /mo · $2,787/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $279

Break-even live

Break-even rent $1,440

Max offer price $160,000

Occupancy floor 79%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
816 Martin Ave Portsmouth, VA	3.0	1.0	1100	$2,195	$2.00	3d	1	0.22mi
1008 Cherokee Rd Portsmouth, VA	1.0–2.0	1.0	835	$1,345	$1.61	43d	1	0.25mi
804 City Park Ave Portsmouth, VA	2.0	1.0	1228	$1,800	$1.47	43d	1	0.33mi
26 Byers Ave Portsmouth, VA	2.0	1.0	1008	$1,575	$1.56	43d	1	0.36mi
6 Harrower Ct Portsmouth, VA	2.0	2.0	800	$1,550	$1.94	43d	1	0.36mi
840 Lancer Dr Unit 694 Portsmouth, VA	3.0	1.5	1202	$1,480	$1.23	17d	1	0.67mi
840 Lancer Dr Unit 615 Portsmouth, VA	2.0	1.5	1002	$1,288	$1.29	23d	1	0.67mi
13 Hedge Ln Unit I Portsmouth, VA	2.0	1.5	816	$1,275	$1.56	7d	1	0.72mi
207 Robin Rd Portsmouth, VA	3.0	1.5	1250	$1,950	$1.56	7d	1	0.72mi
200 Chowan Dr Portsmouth, VA	1.0–2.0	1.0–2.0	737	$1,600	$2.17	2d	8	0.74mi
1017 Hodges Ferry Rd Portsmouth, VA	2.0	1.5	880	$1,350	$1.53	43d	1	0.79mi
318 Edgewood Rd Portsmouth, VA	3.0	1.0	1421	$2,300	$1.62	43d	1	1.07mi
4642 Greenwood Dr Portsmouth, VA	2.0	1.0	946	$1,550	$1.64	43d	1	1.15mi

Listing history 24 events

1. 2026-04-23
   status Under Contract
2. 2026-04-12
   listed $160,000 Active
3. 2026-01-28
   status Under Contract
4. 2026-01-27
   historical
5. 2026-01-15
   price $195,000
6. 2026-01-12
   price $209,999
7. 2026-01-05
   listed $210,000 Active
8. 2021-02-01
   status Under Contract
9. 2021-01-26
   historical Active Under Contract
10. 2021-01-13
    status Active
11. 2021-01-13
    listed $169,900 Active
12. 2021-01-13
    historical
13. 2020-12-07
    status Under Contract
14. 2020-12-03
    historical Active Under Contract
15. 2020-10-21
    status Active
16. 2020-09-21
    status Under Contract
17. 2020-09-10
    historical Active Under Contract
18. 2020-08-23
    status Active
19. 2020-08-12
    historical Active Under Contract
20. 2020-07-18
    status Active
21. 2020-07-06
    historical Active Under Contract
22. 2020-05-10
    price $169,900
23. 2020-05-07
    price $189,900
24. 2020-05-05
    listed $169,900 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: $2,787 · $232/mo
• Projected year-2 tax: $2,787 · $232/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 (unshaded) · 13% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,525
• − Mortgage interest: −$8,962
• − Property taxes: −$2,787
• − Insurance: −$800
• − Repairs & maintenance: −$1,722
• − Management: −$1,722
• − Depreciation: −$4,655
• Taxable income: $877
• Est. tax owed @ 24.0%: −$211
• After-tax cash flow: $3,139/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): 24,298
• Household income: $62,349
• Rent vs Own: 31.0% rent · 69.0% own
• Severe rent burden: 580.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 52% White 39% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Italian 1% Romanian 1% Slovak 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: ▼ -218.96%
• Current HPI: 310.8218
• Rent YoY: ▲ 11.92%
• 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

-5.8% since first listed

24 events — show timeline

• 2026-04-23 Pending — REINMLS
• 2026-04-12 Listed $160,000 REINMLS
• 2026-01-28 Pending — REINMLS
• 2026-01-27 Listing Removed — REINMLS
• 2026-01-15 Price Changed $195,000 REINMLS
• 2026-01-12 Price Changed $209,999 REINMLS
• 2026-01-05 Listed $210,000 REINMLS
• 2021-02-01 Pending — REINMLS
• 2021-01-26 Contingent — REINMLS
• 2021-01-13 Relisted — REINMLS
• 2021-01-13 Listing Removed — REINMLS
• 2021-01-13 Listed $169,900 REINMLS
• 2020-12-07 Pending — REINMLS
• 2020-12-03 Contingent — REINMLS
• 2020-10-21 Relisted — REINMLS
• 2020-09-21 Pending — REINMLS
• 2020-09-10 Contingent — REINMLS
• 2020-08-23 Relisted — REINMLS
• 2020-08-12 Contingent — REINMLS
• 2020-07-18 Relisted — REINMLS
• 2020-07-06 Contingent — REINMLS
• 2020-05-10 Price Changed $169,900 REINMLS
• 2020-05-07 Price Changed $189,900 REINMLS
• 2020-05-05 Listed $169,900 REINMLS

Property tax history

+14.5%/yr

Latest (2025): $2,787 · +4.2% YoY. Source: county tax records.