1021 Blair St · Portsmouth, VA 23704

$209,900

3 bd · 1.0 ba · 975 sqft · SingleFamily public records · 14 Days on market

Built 1980 7,840 sqft lot Est $211k · at est.

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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).

• Cash flow +13.4/30.0
• ARV discount +7.6/15.0
• DSCR +4.0/10.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• 1% rule +3.4/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well maintained 3-bedroom home offering comfort value, and updates throughout! This home features newer windows, HVAC system, water heater, and carpet, giving buyers peace of mind and move-in-ready convivence. The functional layout provides comfortable living spaces filled with natural light. Enjoy a spacious backyard with plenty of room for entertaining, pets, gardening, or future outdoor additions. This is a great opportunity for first-time buyers or anyone looking for a move-in-ready home!

Key facts

• Spacious backyard
• Water heater
• Newer windows

Tags

• NEWER WINDOWS
• HVAC SYSTEM
• WATER HEATER
• SPACIOUS BACKYARD

Property features AI

Finance

• HOA & community: No HOA fees

Exterior

• Parking: Off-street parking; Driveway spaces; On-street parking
• Utilities: City/County water; City/County sewer; Electric water heater; Electric service
• Home design: Detached single-family ranch; Single-story
• Construction: Asphalt shingle roof; Crawl foundation
• Exterior features: Brick siding; Back yard with chain-link fence; Storage shed

Interior

• Kitchen: Electric range
• Bedrooms: Master bedroom on first floor; Additional first-floor bedroom
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom (first floor)
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Carpet and vinyl flooring; Attic; Breakfast area; Foyer; Porch

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $4 ($43/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 $176k (16.0% below list).
• Recommended offer: $176k (16.0% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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.
• Zoned schools: Churchland Elementary (math 47% / reading 72%, grade B-, #536 of 1,108 statewide, top 51%, 767 students, 98% FRL); Churchland Middle (math 53% / reading 77%, grade A-, #120 of 342 statewide, top 35%, 890 students, 100% FRL); I.C. Norcom High (math 39% / reading 58%, grade D, #301 of 319 statewide, top 95%, 1,043 students, 100% 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 (+3.3%/yr); 135 active listings in the ZIP; 40 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 43% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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 $176,370 (16.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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?
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: 0.84% ✗
• Cap rate: 6.31%
• Cash-on-cash: 0.07%
• DSCR: 1.00
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $210,600
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
208 Owens St	0.27mi	3/2.0	1,058 (+8%)	5mo	$228,000	$216	65
1633 Leckie St	0.46mi	3/2.0	1,027 (+5%)	2mo	$265,000	$258	64
1406 Crawford Pkwy	0.28mi	3/2.0	1,119 (+15%)	1mo	$213,000	$190	58

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: -15.9%
• Equity multiple: 0.43×
• Total profit: $-33,243
• Equity at exit: $31,297

10-year hold

• IRR: -7.0%
• Equity multiple: 0.55×
• Total profit: $-26,419
• Equity at exit: $18,148

Cash invested: $58,772 (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: 135
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,764 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$202 /mo · $2,418/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $4

Break-even live

Break-even rent $1,759

Max offer price $209,900

Occupancy floor 95%

Sensitivity live

Price	-10% $122	-5% $63	+0% $4	+5% $-56	+10% $-115
Rent	-10% $-136	-5% $-66	+0% $4	+5% $73	+10% $143
Rate	-1.0pp $109	-0.5pp $57	base $4	+0.5pp $-51	+1.0pp $-106

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1140 London Blvd Portsmouth, VA	2.0	2.0	1016	$1,902	$1.87	5d	1	0.12mi
850 Crawford Pkwy Portsmouth, VA	1.0–2.0	1.0–2.0	944	$2,119	$2.24	4d	6	0.25mi
1100 High St Portsmouth, VA	2.0–3.0	1.5–2.0	1003	$1,545	$1.54	5d	5	0.26mi
130 Riverview Ave Unit A Downstairs Portsmouth, VA	2.0	1.0	975	$1,475	$1.51	5d	1	0.30mi
303 Effingham St Unit N-2K Portsmouth, VA	2.0	1.0	872	$1,375	$1.58	26d	1	0.32mi
303 Effingham St Unit S-2F Portsmouth, VA	3.0	2.0	1122	$1,950	$1.74	26d	1	0.32mi
303 Effingham St Portsmouth, VA	1.0–3.0	1.0–2.0	863	$1,950	$2.26	18d	11	0.32mi
303 Effingham St Unit S-6E Portsmouth, VA	2.0	1.0	879	$1,360	$1.55	26d	1	0.32mi
303 Effingham St Portsmouth, VA	2.0	1.0	872	$1,385	$1.59	46d	1	0.32mi
714 King St Portsmouth, VA	2.0	2.0	935	$1,899	$2.03	46d	1	0.39mi
622 Effingham St Portsmouth, VA	2.0–3.0	1.5–2.0	1027	$1,797	$1.75	26d	2	0.40mi
412 North St Portsmouth, VA	2.0	1.0	850	$1,415	$1.66	26d	2	0.52mi
1029 Green St Portsmouth, VA	2.0	1.5	802	$1,199	$1.50	19d	1	0.56mi
605 Dinwiddie St Unit B Portsmouth, VA	2.0	1.0	900	$1,650	$1.83	46d	1	0.59mi
1003 Green St Unit 1003 Portsmouth, VA	2.0	1.5	837	$1,195	$1.43	26d	1	0.59mi
533 Columbia St Portsmouth, VA	2.0	2.0	1110	$1,495	$1.35	46d	1	0.60mi
915 Green St Portsmouth, VA	2.0	1.0	837	$1,195	$1.43	46d	1	0.61mi
111 High St #409 Portsmouth, VA	2.0	2.5	1078	$2,500	$2.32	9d	1	0.80mi
1416 Richmond Ave Portsmouth, VA	2.0	1.0	1024	$1,150	$1.12	46d	1	0.82mi
923 Randolph St Portsmouth, VA	2.0	1.0	800	$1,062	$1.33	46d	1	0.90mi
811 Randolph St Unit A Portsmouth, VA	2.0	1.0	800	$1,150	$1.44	46d	1	0.98mi
2007 Elm Ave Portsmouth, VA	3.0	1.0	903	$1,300	$1.44	22d	1	1.08mi
1915 Lansing Ave Portsmouth, VA	3.0	1.0	1085	$1,675	$1.54	5d	1	1.12mi
1915 Des Moines Ave Portsmouth, VA	3.0	1.0	1070	$1,700	$1.59	18d	1	1.13mi
1915 Des Moines Ave Portsmouth, VA	3.0	1.0	1070	$1,700	$1.59	26d	1	1.13mi
533 Front St Apt 329 Norfolk, VA	2.0	2.0	1105	$3,300	$2.99	21d	1	1.15mi
101 W Plume St Norfolk, VA	2.0	1.0–2.0	717	$2,390	$3.33	0d	1	1.19mi
1 E Plume St Unit 6 Norfolk, VA	2.0	2.0	675	$1,950	$2.89	0d	1	1.23mi
1 E Plume St Unit 3 Norfolk, VA	2.0	1.0	675	$1,895	$2.81	0d	1	1.23mi
321 E Main St Norfolk, VA	3.0	1.0–2.0	1147	$4,929	$4.30	0d	16	1.27mi
200 College Pl Norfolk, VA	1.0–3.0	1.0–2.0	1047	$2,543	$2.43	0d	15	1.31mi
548 Madison St Portsmouth, VA	2.0	1.0	900	$1,349	$1.50	18d	3	1.33mi
548 Madison St Unit 542-21-C Portsmouth, VA	2.0	1.0	900	$1,349	$1.50	26d	1	1.34mi
139 Riverview Ave Norfolk, VA	2.0	2.0	987	$2,178	$2.21	4d	1	1.34mi
388 Boush St Norfolk, VA	2.0	2.0	1057	$2,070	$1.96	4d	2	1.38mi
388 Boush St Norfolk, VA	2.0	2.0	1057	$1,895	$1.79	23d	2	1.38mi
330 W Brambleton Ave Norfolk, VA	2.0	1.0–2.0	744	$1,825	$2.45	5d	1	1.38mi
647 Mount Vernon Ave Unit B Portsmouth, VA	2.0	1.0	900	$1,650	$1.83	9d	1	1.42mi
200 Drummond Pl Norfolk, VA	1.0–2.0	1.0	975	$1,795	$1.84	26d	4	1.43mi
200 Drummond Pl Unit b2 Norfolk, VA	2.0	1.0	1000	$1,695	$1.70	46d	1	1.43mi

Listing history 8 events

1. 2026-06-13
   statusdays on market $209,900 Under Contract 14 DOM
2. 2026-06-09
   days on market $209,900 Active 11 DOM
3. 2026-06-08
   days on market $209,900 Active 10 DOM
4. 2026-06-07
   days on market $209,900 Active 9 DOM
5. 2026-06-03
   days on market $209,900 Active 5 DOM
6. 2026-06-02
   days on market $209,900 Active 4 DOM
7. 2026-06-01
   days on market $209,900 Active 3 DOM
8. 2026-05-31
   days on market $209,900 Active 2 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: $2,418 · $202/mo
• Projected year-2 tax: $2,418 · $202/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) · 57% 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: $21,164
• − Mortgage interest: −$11,758
• − Property taxes: −$2,418
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,693
• − Management: −$1,693
• − Depreciation: −$6,106
• Taxable loss: −$3,554
• Est. tax savings @ 24.0%: +$853
• After-tax cash flow: $896/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

1 event — show timeline

• 2026-05-29 Listed $209,900 REINMLS

Property tax history

+1.8%/yr

Latest (2025): $2,418 · +2.0% YoY. Source: county tax records.