103 Decatur St · Portsmouth, VA 23702

$295,000

3 bd · 2.0 ba · 1,648 sqft · Other public records · 2 Days on market

Built 1941 5,662 sqft lot

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +8.2/30.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +2.2/10.0

Key facts

• 5,662 sq ft lot
• Built 1941

Property features AI

Finance

• HOA & community: No HOA/POA fees reported

Exterior

• Parking: Off-street parking; Driveway parking; Street parking
• Utilities: City/County water; City/County sewer; Electric water heater; Electric power
• Home design: Detached home; Bungalow / Ranch style; Single-story
• Construction: Brick siding; Asphalt shingle roof; Crawl and slab foundation; Built on approximately 0.13 acres
• Exterior features: Patio; Back partial chain-link fence; Storage shed; Accessory dwelling unit (ADU)

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Refrigerator; Breakfast area
• Bedrooms: Master bedroom; Additional bedroom; Bedroom and full bathroom on first floor; In-law suite
• Flooring: Ceramic flooring; Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Other cooling
• Interior features: Ceiling fan; Cable hookup; Pull-down attic stairs; Scuttle attic access
• Laundry & utility: Washer hookup; Dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $295k.

Deal economics

• At list price, monthly cash flow is $-281 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $245k (16.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $213k (27.8% below list).
• Recommended offer: $213k (27.8% below list) — sets the bar for 1% rule.

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: Cradock Elementary (math 22% / reading 37%, grade F, #1,011 of 1,108 statewide, top 92%, 622 students, 98% FRL); Cradock Middle (math 32% / reading 62%, grade D+, #257 of 342 statewide, top 77%, 533 students, 100% FRL); Manor High (math 48% / reading 75%, grade B-, #240 of 319 statewide, top 75%, 1,236 students, 99% FRL) — zoned schools average 99% FRL vs 60% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+4.0%/yr); 65 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 300 units permitted in Portsmouth city in 2024 (112 in 5+ unit buildings).
• At $2,130/mo this rent would consume 52% of the median local household income ($49k/yr) (locally 534% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y ago; this cycle's ask is 18% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $130k; list at $295k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $212,952 (27.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1941 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.72% ✗
• Cap rate: 5.15%
• Cash-on-cash: -4.09%
• DSCR: 0.82
• GRM: 11.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.97% rent growth · sell at horizon

5-year hold

• IRR: 21.6%
• Equity multiple: 2.75×
• Total profit: $144,837
• Equity at exit: $265,759

10-year hold

• IRR: 19.7%
• Equity multiple: 6.39×
• Total profit: $445,009
• Equity at exit: $573,120

Cash invested: $82,600 (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 23702

• Home prices YoY: 5.2%
• Rents YoY: 4.0%
• Active inventory: 65
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $2,130 high
• Mortgage (P&I): −$1,547
• Tax from tax record: −$294 /mo · $3,524/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $-281

Break-even live

Break-even rent $2,486

Max offer price $245,318

Occupancy floor —

Sensitivity live

Price	-10% $-114	-5% $-198	+0% $-281	+5% $-365	+10% $-448
Rent	-10% $-449	-5% $-365	+0% $-281	+5% $-197	+10% $-113
Rate	-1.0pp $-133	-0.5pp $-206	base $-281	+0.5pp $-358	+1.0pp $-435

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
213 Monmouth St Portsmouth, VA	3.0	2.5	1800	$2,450	$1.36	46d	1	0.23mi
10 Parkside Pl Portsmouth, VA	3.0	2.0	1800	$2,095	$1.16	19d	1	0.30mi
134 Monmouth St Portsmouth, VA	3.0	2.5	1440	$2,450	$1.70	45d	1	0.43mi
35 Fairview Cir S Portsmouth, VA	4.0	1.5	1462	$2,100	$1.44	14d	1	0.77mi
2750 Greenwood Dr Portsmouth, VA	3.0	2.0	1200	$1,700	$1.42	25d	1	0.92mi
2509 Smithfield Rd Portsmouth, VA	3.0	2.5	1540	$2,345	$1.52	23d	1	0.92mi
231 Edison Ave Unit 231 Portsmouth, VA	2.0	1.5	1050	$1,275	$1.21	12d	1	0.99mi
231 Edison Ave Portsmouth, VA	2.0	1.5	1100	$1,275	$1.16	21d	1	0.99mi
251 Independence St Portsmouth, VA	3.0	2.5	1294	$2,550	$1.97	25d	1	1.04mi
213 Beacon Rd Portsmouth, VA	3.0	2.0	1280	$2,300	$1.80	25d	1	1.15mi
1409 Wilcox Ave Portsmouth, VA	3.0	2.5	1800	$2,500	$1.39	45d	1	1.22mi
1061 Saint Julian Dr Chesapeake, VA	4.0	2.0	1611	$2,550	$1.58	25d	1	1.31mi
2810 Roanoke Ave Portsmouth, VA	3.0	1.5	1100	$2,100	$1.91	45d	1	1.34mi
1314 Summit Ave Portsmouth, VA	3.0	1.5	1152	$1,750	$1.52	45d	1	1.35mi
2715 Portsmouth Blvd Portsmouth, VA	2.0	1.0	1428	$1,425	$1.00	19d	1	1.35mi
2715 Portsmouth Blvd Portsmouth, VA	2.0	1.0	1428	$1,425	$1.00	16d	1	1.35mi
1114 Woodland Terrace Dr Chesapeake, VA	3.0	1.0	1223	$2,000	$1.64	25d	1	1.44mi
3317 Downes St Portsmouth, VA	3.0	2.0	1148	$1,995	$1.74	12d	1	1.46mi
3317 Downes St Portsmouth, VA	3.0	2.0	1148	$1,995	$1.74	5d	1	1.46mi

Listing history 2 events

1. 2026-06-21
   statusdays on market $295,000 Active 2 DOM
2. 2026-06-18
   listed $295,000 Coming Soon 1 DOM

ⓘ 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: $3,524 · $294/mo
• Projected year-2 tax: $3,524 · $294/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 3/10 Moderate FEMA zone X (shaded) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 15 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: $25,554
• − Mortgage interest: −$16,525
• − Property taxes: −$3,524
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,044
• − Management: −$2,044
• − Depreciation: −$8,582
• Taxable loss: −$8,639
• Est. tax savings @ 24.0%: +$2,073
• After-tax cash flow: $-1,301/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): 12,485
• Household income: $48,835
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 534.0

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 0.62)
• Race & ethnicity: Black 50% White 35% Two or more races 9% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 16.70%
• Current HPI: 340.0817
• Rent YoY: ▲ 3.97%
• 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

+126.9% since first listed

11 events — show timeline

• 2026-06-17 Coming Soon $295,000 REINMLS
• 2026-06-17 Coming Soon $295,000 REINMLS
• 2024-02-10 Pending — REINMLS
• 2024-02-05 Contingent — REINMLS
• 2024-01-05 Price Changed $244,500 REINMLS
• 2024-01-04 Price Changed $249,000 REINMLS
• 2023-12-06 Listed $249,500 REINMLS
• 2023-06-13 Listing Removed — REINMLS
• 2023-06-13 Sold (Public Records) $130,000 Public Records
• 2023-05-10 Pending — REINMLS
• 2023-05-01 Listed $130,000 REINMLS

Property tax history

+7.4%/yr

Latest (2025): $3,524 · +1.8% YoY. Source: county tax records.