None · Portsmouth, VA 23707

$164,900

3 bd · 1.0 ba · 1,032 sqft · SingleFamily public records · 34 Days on market

Built 1952 6,534 sqft lot $160/sqft · 31% below area Est $240k · 31% under

---

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 +18.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• 1% rule +4.8/10.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This ranch-style home in Portsmouth's historic Cradock neighborhood is your next project. Sitting on a 60x108 lot with 1,032 sq ft and a detached 600 sq ft garage, this property has great bones and unlimited potential. Sold strictly as-is — seller will make no repairs. Bring your vision and your tools. Priced to sell! Make sure to ask about the 3D True Immersive Virtual Tour. This technology allows you to literally experience the home on any mobile device, laptop or desktop. You can measure rooms, view 3D dollhouse, view exterior, and interior and so much more. Check it out today!

Key facts

• 6,534 sq ft lot
• Garage
• Built 1952

Property features AI

Finance

• HOA & community: No HOA fees

Exterior

• Parking: Driveway and street parking; Detached garage (approximately 600 sq ft)
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Detached ranch; Single-story home (1 living level); Crawl space foundation
• Construction: Asphalt shingle roof
• Exterior features: Vinyl siding; Back yard fenced

Interior

• Kitchen: Electric range
• Bedrooms: First-floor bedroom with full bathroom (first floor master bedroom noted)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump with central air; Electric forced hot air heating
• Interior features: Carpet and laminate flooring; Attic; Breakfast area; Porch; Utility room
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $146 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (2.1% below list).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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: I.C. Norcom High (math 39% / reading 58%, grade D, #301 of 319 statewide, top 95%, 1,043 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: 84 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 40% of the median local income ($49k/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.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($160k) 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.
• Current owner paid $120k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $159,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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: 0.98% ✗
• Cap rate: 7.36%
• Cash-on-cash: 3.81%
• DSCR: 1.17
• GRM: 8.5

CMA / ARV

• ARV (median comp): $239,553
• List price: $164,900
• Delta: -31.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3521 County St	0.40mi	3/1.0	1,020 (-1%)	2mo	$227,000	$223	78
4103 Scott St	0.19mi	3/1.0	960 (-7%)	5mo	$240,000	$250	75
3710 King St	0.34mi	2/1.0 (-1)	1,010 (-2%)	4mo	$182,500	$181	72
4721 Bart St	0.60mi	2/1.0 (-1)	1,026 (-1%)	1mo	$155,000	$151	65
4110 Scott St	0.18mi	3/2.0	1,150 (+11%)	6mo	$289,900	$252	63
3813 Race St	0.19mi	3/2.0	1,165 (+13%)	3mo	$289,500	$248	63
4509 South St	0.43mi	3/1.5	1,107 (+7%)	7mo	$260,000	$235	60
3210 Brighton St	0.64mi	4/1.0 (+1)	1,005 (-3%)	1mo	$211,000	$210	60
3306 Brighton St	0.60mi	3/2.0	1,080 (+5%)	1mo	$238,000	$220	60
3420 Scott St	0.46mi	4/1.0 (+1)	1,080 (+5%)	8mo	$156,626	$145	60
58 Harvard Rd	0.70mi	3/1.5	1,100 (+7%)	0mo	$239,900	$218	54
105 Bolling Rd	0.66mi	3/1.5	909 (-12%)	3mo	$190,000	$209	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.3%
• Equity multiple: 0.62×
• Total profit: $-17,376
• Equity at exit: $24,587

10-year hold

• IRR: -1.0%
• Equity multiple: 0.93×
• Total profit: $-3,046
• Equity at exit: $14,258

Cash invested: $46,172 (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 23707

• Home prices YoY: -23.7%
• Active inventory: 84
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,615 high
• Mortgage (P&I): −$865
• Tax from tax record: −$196 /mo · $2,353/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $146

Break-even live

Break-even rent $1,430

Max offer price $164,900

Occupancy floor 86%

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3717 Scott St Portsmouth, VA	3.0	1.0	1157	$1,400	$1.21	23d	1	0.28mi
3626 Bart St Unit BAR3626-DF Portsmouth, VA	2.0	1.0	900	$1,000	$1.11	7d	1	0.28mi
3607 Bart St Portsmouth, VA	3.0	2.0	1326	$1,850	$1.40	10d	1	0.30mi
3401 Brighton St Portsmouth, VA	3.0	2.5	1439	$2,195	$1.53	3d	1	0.57mi
3310 Glasgow St Portsmouth, VA	2.0	1.0	1100	$1,600	$1.45	3d	1	0.71mi
13 Hedge Ln Unit I Portsmouth, VA	2.0	1.5	816	$1,275	$1.56	7d	1	0.85mi
124 Tyler Cres E Unit B Portsmouth, VA	2.0	1.0	1000	$1,195	$1.20	23d	1	0.91mi
49 Carver Cir Portsmouth, VA	2.0	2.0	800	$1,450	$1.81	23d	1	1.14mi
821 Mt Vernon Ave Unit A Portsmouth, VA	2.0	1.0	1200	$1,250	$1.04	3d	1	1.15mi
1 Shelby St Portsmouth, VA	2.0	1.0	700	$1,250	$1.79	23d	1	1.15mi
26 Byers Ave Portsmouth, VA	2.0	1.0	1008	$1,575	$1.56	43d	1	1.21mi
3304 Killian Ave Portsmouth, VA	3.0	1.0	800	$2,000	$2.50	23d	1	1.25mi
804 City Park Ave Portsmouth, VA	2.0	1.0	1228	$1,800	$1.47	43d	1	1.25mi
647 Mount Vernon Ave Unit B Portsmouth, VA	2.0	1.0	900	$1,650	$1.83	7d	1	1.28mi
3317 Downes St Portsmouth, VA	3.0	2.0	1148	$1,995	$1.74	10d	1	1.34mi
3317 Downes St Portsmouth, VA	3.0	2.0	1148	$1,995	$1.74	3d	1	1.34mi
6 Harrower Ct Portsmouth, VA	2.0	2.0	800	$1,550	$1.94	43d	1	1.35mi
509 Mount Vernon Ave Portsmouth, VA	3.0	1.5	1125	$1,250	$1.11	21d	1	1.42mi
318 Edgewood Rd Portsmouth, VA	3.0	1.0	1421	$2,300	$1.62	43d	1	1.42mi
2715 Portsmouth Blvd Portsmouth, VA	2.0	1.0	1428	$1,425	$1.00	17d	1	1.43mi
2715 Portsmouth Blvd Portsmouth, VA	2.0	1.0	1428	$1,425	$1.00	14d	1	1.43mi
816 Martin Ave Portsmouth, VA	3.0	1.0	1100	$2,195	$2.00	3d	1	1.44mi
200 Chowan Dr Portsmouth, VA	1.0–2.0	1.0–2.0	737	$1,600	$2.17	2d	8	1.47mi
70 Manly St Portsmouth, VA	2.0	1.0	1000	$1,350	$1.35	43d	1	1.48mi

Listing history 14 events

1. 2026-06-18
   status $164,900 Under Contract 34 DOM
2. 2026-06-17
   days on market $164,900 Active Under Contract 34 DOM
3. 2026-06-16
   days on market $164,900 Active Under Contract 33 DOM
4. 2026-06-15
   days on market $164,900 Active Under Contract 32 DOM
5. 2026-06-13
   days on market $164,900 Active Under Contract 30 DOM
6. 2026-06-09
   statusdays on market $164,900 Active Under Contract 26 DOM
7. 2026-06-08
   days on market $164,900 Active 25 DOM
8. 2026-06-07
   days on market $164,900 Active 24 DOM
9. 2026-06-03
   days on market $164,900 Active 20 DOM
10. 2026-06-02
    days on market $164,900 Active 19 DOM
11. 2026-06-01
    days on market $164,900 Active 18 DOM
12. 2026-05-31
    days on market $164,900 Active 17 DOM
13. 2026-05-12
    listed $164,900 Active 593-char remark
14. 2007-03-26
    soldstatus $120,000

ⓘ 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: $2,353 · $196/mo
• Projected year-2 tax: $2,353 · $196/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) · 55% 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: $19,382
• − Mortgage interest: −$9,237
• − Property taxes: −$2,353
• − Insurance: −$824
• − Repairs & maintenance: −$1,551
• − Management: −$1,551
• − Depreciation: −$4,797
• Taxable loss: −$931
• Est. tax savings @ 24.0%: +$223
• After-tax cash flow: $1,981/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): 14,766
• Household income: $48,926
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 963.0

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 0.64)
• Race & ethnicity: White 43% Black 41% Two or more races 9% Hispanic / Latino 3% Asian 3%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Tagalog/Filipino 1% Chinese 1%

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: ▼ -93.03%
• Current HPI: 299.832
• Rent YoY: —
• 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

+37.4% since first listed

6 events — show timeline

• 2026-06-17 Pending — REINMLS
• 2026-06-09 Contingent — REINMLS
• 2026-05-20 Relisted — REINMLS
• 2026-05-19 Listing Removed — REINMLS
• 2026-05-12 Listed $164,900 REINMLS
• 2007-03-26 Sold (Public Records) $120,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $2,353 · +2.8% YoY. Source: county tax records.