274 Paradise Dr · Portsmouth, VA 23701

$247,000

2 bd · 2.5 ba · 1,544 sqft · Townhouse public records · 41 Days on market

Built 2016 $160/sqft · 10% below area Est $274k · 10% under $216/mo HOA · 11% of rent

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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).

• ARV discount +11.9/15.0
• Cash flow +8.1/30.0
• Rent growth +5.0/5.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious three-level townhome offering flexible living and a layout that just makes sense. Enjoy an open main level with a bright kitchen, dining, and living area that flows seamlessly to a private deck—perfect for everyday living or entertaining. Upstairs features dual primary suites, each with its own bath. Community amenities include a clubhouse, playground, fitness center, and pool. Conveniently located near dining, entertainment, and the casino. Cameras in/outside. * * * Not for Rent and Not Assignable.

Key facts

• Bright kitchen
• Private deck
• Clubhouse

Tags

• THREE-LEVEL TOWNHOME
• BRIGHT KITCHEN
• PRIVATE DECK
• DUAL PRIMARY SUITES
• CLUBHOUSE
• PLAYGROUND

Property features AI

Finance

• HOA & community: Condo association: New Port at Victory; HOA managed by Clark SimsonMiller; POA/HOA fee: $216 monthly; Community amenities include clubhouse, exercise room, playgrounds, and pool

Exterior

• Parking: Attached 1-car garage; Off-street parking; Driveway parking; Garage (approximately 304 sq ft)
• Security: Security system; Generator hookup
• Utilities: City/County water; City/County sewer; Electric water heater; Electric service
• Home design: Attached townhouse; Condo ownership; 3 stories; Unit on 3 living levels; Entry level: 1
• Construction: Slab foundation
• Exterior features: Patio; Brick and vinyl siding; Asphalt shingle roof

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Electric range; Refrigerator; Pantry
• Bedrooms: Master bedroom with bath; No bedroom and full bathroom on first floor
• Flooring: Ceramic flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced hot air heating; Programmable thermostat; Central air conditioning
• Interior features: Cable hookup; Ceiling fan; Generator hookup; Security system; Foyer; Pantry; Porch; Recreation room; Utility closet
• Laundry & utility: Washer hookup; Dryer hookup; Utility closet

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath townhouse listed at $247k.

Deal economics

• At list price, monthly cash flow is $-242 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $204k (17.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (17.1% below list).
• Recommended offer: $204k (17.3% below list) — sets the bar for cash-flow.

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: Victory Elementary (math 37% / reading 57%, grade D-, #794 of 1,108 statewide, top 74%, 589 students, 117% 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 105% FRL vs 60% district-wide (45 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+11.9%/yr); 170 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 39% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($240k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y 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 $204,190 (17.3% 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. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.83% ✗
• Cap rate: 5.12%
• Cash-on-cash: -4.20%
• DSCR: 0.81
• GRM: 10.0

CMA / ARV

• ARV (median comp): $273,750
• List price: $247,000
• Delta: -9.77%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
274 Paradise Dr	0.00mi	2/2.5	1,544 (0%)	1mo	$248,000	$161	100
343 Missy Elliott Blvd	0.29mi	2/3.0	1,511 (-2%)	8mo	$300,000	$199	75
268 Tern Ave	0.18mi	3/2.5 (+1)	1,682 (+9%)	9mo	$304,990	$181	64
209 Falcon Ave	0.27mi	3/2.5 (+1)	1,720 (+11%)	1mo	$325,000	$189	63
272 Tern Ave	0.19mi	3/2.5 (+1)	1,682 (+9%)	10mo	$319,990	$190	63
218 Tern Ave	0.19mi	3/2.5 (+1)	1,682 (+9%)	13mo	$313,295	$186	60
3186 Greenwood Dr	0.20mi	2/3.5	1,745 (+13%)	6mo	$267,500	$153	60
256 Falcon Ave	0.21mi	3/3.5 (+1)	1,424 (-8%)	10mo	$303,000	$213	60
27 Calvin St	0.63mi	2/1.0	1,372 (-11%)	3mo	$135,000	$98	43
29 Calvin St	0.64mi	2/1.0	1,372 (-11%)	3mo	$135,000	$98	43

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: -17.4%
• Equity multiple: 0.36×
• Total profit: $-44,509
• Equity at exit: $36,829

10-year hold

• IRR: -1.5%
• Equity multiple: 0.87×
• Total profit: $-8,857
• Equity at exit: $21,356

Cash invested: $69,160 (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: 170
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,048 high
• Mortgage (P&I): −$1,295
• Tax from tax record: −$246 /mo · $2,955/yr
• Insurance: −$103
• HOA: −$216
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $-242

Break-even live

Break-even rent $2,355

Max offer price $204,190

Occupancy floor —

Sensitivity live

Price	-10% $-103	-5% $-172	+0% $-242	+5% $-312	+10% $-382
Rent	-10% $-404	-5% $-323	+0% $-242	+5% $-161	+10% $-81
Rate	-1.0pp $-118	-0.5pp $-180	base $-242	+0.5pp $-306	+1.0pp $-371

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: $61,750
• Closing costs: $7,410
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
207 Falcon Ave Portsmouth, VA	3.0	2.5	1720	$3,000	$1.74	45d	1	0.30mi
251 Independence St Portsmouth, VA	3.0	2.5	1294	$2,550	$1.97	25d	1	0.39mi
2750 Greenwood Dr Portsmouth, VA	3.0	2.0	1200	$1,700	$1.42	25d	1	0.48mi
2715 Portsmouth Blvd Portsmouth, VA	2.0	1.0	1428	$1,425	$1.00	19d	1	0.77mi
2715 Portsmouth Blvd Portsmouth, VA	2.0	1.0	1428	$1,425	$1.00	16d	1	0.77mi
213 Beacon Rd Portsmouth, VA	3.0	2.0	1280	$2,300	$1.80	25d	1	0.80mi
3317 Downes St Portsmouth, VA	3.0	2.0	1148	$1,995	$1.74	5d	1	0.88mi
3317 Downes St Portsmouth, VA	3.0	2.0	1148	$1,995	$1.74	12d	1	0.88mi
134 Monmouth St Portsmouth, VA	3.0	2.5	1440	$2,450	$1.70	45d	1	0.98mi
2509 Smithfield Rd Portsmouth, VA	3.0	2.5	1540	$2,345	$1.52	23d	1	1.04mi
231 Edison Ave Unit 231 Portsmouth, VA	2.0	1.5	1050	$1,275	$1.21	12d	1	1.13mi
231 Edison Ave Portsmouth, VA	2.0	1.5	1100	$1,275	$1.16	21d	1	1.13mi
213 Monmouth St Portsmouth, VA	3.0	2.5	1800	$2,450	$1.36	46d	1	1.14mi
3401 Brighton St Portsmouth, VA	3.0	2.5	1439	$2,195	$1.53	5d	1	1.24mi
10 Parkside Pl Portsmouth, VA	3.0	2.0	1800	$2,095	$1.16	19d	1	1.25mi
3717 Scott St Portsmouth, VA	3.0	1.0	1157	$1,400	$1.21	25d	1	1.36mi
2304 Nashville Ave Portsmouth, VA	3.0	1.5	1226	$1,395	$1.14	45d	1	1.36mi
705 Warfield Dr Portsmouth, VA	3.0	1.5	1269	$2,100	$1.65	19d	1	1.38mi
2810 Roanoke Ave Portsmouth, VA	3.0	1.5	1100	$2,100	$1.91	45d	1	1.39mi

HOA detail

• Monthly dues: $216 · $2,592/yr
• Likely covers: poolgym

Listing history 23 events

1. 2026-06-07
   statusdays on market $247,000 Under Contract 41 DOM
2. 2026-06-03
   days on market $247,000 Active Under Contract 40 DOM
3. 2026-06-02
   days on market $247,000 Active Under Contract 39 DOM
4. 2026-06-01
   days on market $247,000 Active Under Contract 38 DOM
5. 2026-05-31
   days on market $247,000 Active Under Contract 37 DOM
6. 2026-05-05
   historical Active Under Contract 516-char remark
7. 2026-05-04
   price $247,000 516-char remark
8. 2026-04-24
   listed $239,900 Active 516-char remark
9. 2024-03-07
   historical
10. 2024-02-02
    listed $245,000 Active
11. 2023-08-30
    soldstatus $240,000
12. 2023-08-30
    soldstatus $240,000
13. 2023-07-28
    historical Active Under Contract
14. 2023-07-26
    listed $230,000 Active
15. 2020-01-27
    historical
16. 2020-01-05
    listed $179,900 Active
17. 2020-01-04
    historical
18. 2019-11-05
    listed $179,900 Active
19. 2017-01-05
    soldstatus $168,900
20. 2016-11-23
    status Under Contract
21. 2016-11-18
    historical
22. 2016-08-08
    listed $168,900 Active
23. 2012-06-15
    soldstatus $1,500,000

ⓘ 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: $2,955 · $246/mo
• Projected year-2 tax: $2,955 · $246/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 1/10 Low FEMA zone X (unshaded) · 0% 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: $24,579
• − Mortgage interest: −$13,836
• − Property taxes: −$2,955
• − Insurance: −$1,235
• − Repairs & maintenance: −$1,966
• − Management: −$1,966
• − HOA: −$2,592
• − Depreciation: −$7,185
• Taxable loss: −$7,157
• Est. tax savings @ 24.0%: +$1,718
• After-tax cash flow: $-1,190/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

-83.5% since first listed

20 events — show timeline

• 2026-06-05 Sold (MLS) $248,000 REINMLS
• 2026-06-04 Pending — REINMLS
• 2026-05-05 Contingent — REINMLS
• 2026-05-04 Price Changed $247,000 REINMLS
• 2026-04-24 Listed $239,900 REINMLS
• 2024-03-07 Listing Removed — REINMLS
• 2024-02-02 Listed $245,000 REINMLS
• 2023-08-30 Sold (Public Records) $240,000 Public Records
• 2023-08-30 Sold (Public Records) $240,000 Public Records
• 2023-07-28 Contingent — REINMLS
• 2023-07-26 Listed $230,000 REINMLS
• 2020-01-27 Listing Removed — REINMLS
• 2020-01-05 Listed $179,900 REINMLS
• 2020-01-04 Listing Removed — REINMLS
• 2019-11-05 Listed $179,900 REINMLS
• 2017-01-05 Sold (Public Records) $168,900 Public Records
• 2016-11-23 Pending — REINMLS
• 2016-11-18 Listing Removed — REINMLS
• 2016-08-08 Listed $168,900 REINMLS
• 2012-06-15 Sold (Public Records) $1,500,000 Public Records

Property tax history

+8.6%/yr

Latest (2025): $2,955 · +0.8% YoY. Source: county tax records.