65 Harris Rd · Portsmouth, VA 23702

$161,000

3 bd · 2.0 ba · 1,229 sqft · SingleFamily public records · 106 Days on market

Built 1934 7,405 sqft lot $131/sqft · 30% below area Est $229k · 30% under

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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 +21.3/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.8/10.0
• 1% rule +5.8/10.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this charming 3 bedroom, 2 bathroom home in the heart of Portsmouth. Offering over 1,200 square feet of comfortable living space and endless potential. With a well-designed layout and generously sized rooms, this home is a great canvas to make your own. Situated on a spacious lot! Whether you’re a first-time buyer, investor, or someone looking to put their personal touch on a home, this property is full of promise and ready for its next chapter. Conveniently located near dining, shopping, and more! Call today for more information and to schedule your tour!

Key facts

• 7,405 sq ft lot
• Garage
• Built 1934

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $161k.

Deal economics

• At list price, monthly cash flow is $-192 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (21.1% below list).
• Meets the 1% rule at list price ($2k rent vs $161k).
• Recommended offer: $127k (21.1% below list) — sets the bar for cash-flow.
• Cap rate 8.0% 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.
• Market conditions: Rents rising (+4.0%/yr); 64 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 ($49k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• By year 3, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 11y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1934 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $127,059 (21.1% 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 106 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.08% ✓
• Cap rate: 8.04%
• Cash-on-cash: 6.24%
• DSCR: 1.28
• GRM: 7.7

CMA / ARV

• ARV (median comp): $229,431
• List price: $161,000
• Delta: -29.83%
• 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
59 Bainbridge Ave	0.18mi	3/1.0	1,214 (-1%)	3mo	$120,000	$99	83
9 Quackenbush Pl	0.29mi	3/2.0	1,250 (+2%)	0mo	$260,000	$208	83
3 Prospect Pkwy	0.29mi	3/2.0	1,216 (-1%)	2mo	$126,000	$104	83
100 Channing Ave	0.15mi	3/2.0	1,300 (+6%)	4mo	$280,500	$216	80
12 Oakcrest St	0.25mi	3/1.0	1,115 (-9%)	3mo	$120,000	$108	66
100 Dahlgren Ave Unit B	0.21mi	3/1.0	1,078 (-12%)	1mo	$194,700	$181	65
408 Forecastle St	0.59mi	3/2.0	1,272 (+4%)	4mo	$364,500	$287	63
132 Afton Pkwy	0.28mi	3/2.0	1,056 (-14%)	3mo	$244,900	$232	61
11 Aylwin Rd	0.41mi	2/1.0 (-1)	1,165 (-5%)	4mo	$129,900	$112	60
31 Decatur St	0.27mi	4/2.0 (+1)	1,400 (+14%)	3mo	$265,000	$189	57
19 Burtis St	0.35mi	4/2.0 (+1)	1,400 (+14%)	1mo	$85,000	$61	54
4221 George Washington Hwy	0.45mi	3/3.0	1,398 (+14%)	3mo	$277,000	$198	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 21.1%
• Equity multiple: 2.72×
• Total profit: $77,464
• Equity at exit: $145,042

10-year hold

• IRR: 19.5%
• Equity multiple: 6.37×
• Total profit: $241,961
• Equity at exit: $312,788

Cash invested: $45,080 (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: 64
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,738 high
• Mortgage (P&I): −$844
• Tax from tax record: −$227 /mo · $2,723/yr
• Insurance: −$67
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $-192

Break-even live

Break-even rent $1,981

Max offer price $127,059

Occupancy floor —

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: $40,250
• Closing costs: $4,830
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18 Cooper Dr Portsmouth, VA	2.0	1.0	920	$1,400	$1.52	17d	1	0.29mi
134 Monmouth St Portsmouth, VA	3.0	2.5	1440	$2,450	$1.70	44d	1	0.76mi
231 Edison Ave Portsmouth, VA	2.0	1.5	1100	$1,275	$1.16	20d	1	1.02mi
231 Edison Ave Unit 231 Portsmouth, VA	2.0	1.5	1050	$1,275	$1.21	10d	1	1.02mi
3724 Deep Creek Blvd Unit 3728 Portsmouth, VA	2.0	1.0	900	$995	$1.11	23d	1	1.03mi
3724 Deep Creek Blvd Unit 3754 Portsmouth, VA	2.0	1.0	900	$995	$1.11	12d	1	1.03mi
35 Fairview Cir S Portsmouth, VA	4.0	1.5	1462	$2,100	$1.44	12d	1	1.06mi
21 DeKalb Ave Portsmouth, VA	2.0	1.0	984	$1,550	$1.58	44d	1	1.07mi
2750 Greenwood Dr Portsmouth, VA	3.0	2.0	1200	$1,700	$1.42	23d	1	1.18mi
2906 Chestnut St Unit 1328007P Portsmouth, VA	2.0	1.0	947	$4,650	$4.91	7d	1	1.23mi
1314 Summit Ave Portsmouth, VA	3.0	1.5	1152	$1,750	$1.52	44d	1	1.23mi
2756 Peach St Portsmouth, VA	2.0	1.5	1040	$1,495	$1.44	23d	1	1.28mi
251 Independence St Portsmouth, VA	3.0	2.5	1294	$2,550	$1.97	23d	1	1.29mi
213 Beacon Rd Portsmouth, VA	3.0	2.0	1280	$2,300	$1.80	23d	1	1.29mi
2810 Roanoke Ave Portsmouth, VA	3.0	1.5	1100	$2,100	$1.91	44d	1	1.33mi
70 Manly St Portsmouth, VA	2.0	1.0	1000	$1,350	$1.35	44d	1	1.43mi
102 Francis St #98 Portsmouth, VA	2.0	1.5	1000	$1,395	$1.40	16d	1	1.46mi
98 Francis St Portsmouth, VA	2.0	2.0	984	$1,395	$1.42	15d	1	1.46mi
818 Coolidge St Portsmouth, VA	2.0	1.0	1230	$2,100	$1.71	44d	1	1.47mi
2715 Portsmouth Blvd Portsmouth, VA	2.0	1.0	1428	$1,425	$1.00	17d	1	1.49mi
2715 Portsmouth Blvd Portsmouth, VA	2.0	1.0	1428	$1,425	$1.00	15d	1	1.49mi

Listing history 27 events

1. 2026-04-30
   price $161,000 579-char remark

   Show marketing remark (579 chars)

   Welcome to this charming 3 bedroom, 2 bathroom home in the heart of Portsmouth. Offering over 1,200 square feet of comfortable living space and endless potential. With a well-designed layout and generously sized rooms, this home is a great canvas to make your own. Situated on a spacious lot! Whether you’re a first-time buyer, investor, or someone looking to put their personal touch on a home, this property is full of promise and ready for its next chapter. Conveniently located near dining, shopping, and more! Call today for more information and to schedule your tour!

2. 2026-04-17
   status Active 579-char remark

   Show marketing remark (579 chars)

   Welcome to this charming 3 bedroom, 2 bathroom home in the heart of Portsmouth. Offering over 1,200 square feet of comfortable living space and endless potential. With a well-designed layout and generously sized rooms, this home is a great canvas to make your own. Situated on a spacious lot! Whether you’re a first-time buyer, investor, or someone looking to put their personal touch on a home, this property is full of promise and ready for its next chapter. Conveniently located near dining, shopping, and more! Call today for more information and to schedule your tour!

3. 2026-04-07
   status Under Contract 579-char remark

   Show marketing remark (579 chars)

   Welcome to this charming 3 bedroom, 2 bathroom home in the heart of Portsmouth. Offering over 1,200 square feet of comfortable living space and endless potential. With a well-designed layout and generously sized rooms, this home is a great canvas to make your own. Situated on a spacious lot! Whether you’re a first-time buyer, investor, or someone looking to put their personal touch on a home, this property is full of promise and ready for its next chapter. Conveniently located near dining, shopping, and more! Call today for more information and to schedule your tour!

4. 2026-04-04
   historical 579-char remark

   Show marketing remark (579 chars)

   Welcome to this charming 3 bedroom, 2 bathroom home in the heart of Portsmouth. Offering over 1,200 square feet of comfortable living space and endless potential. With a well-designed layout and generously sized rooms, this home is a great canvas to make your own. Situated on a spacious lot! Whether you’re a first-time buyer, investor, or someone looking to put their personal touch on a home, this property is full of promise and ready for its next chapter. Conveniently located near dining, shopping, and more! Call today for more information and to schedule your tour!

5. 2026-03-11
   status Active 579-char remark

   Show marketing remark (579 chars)

   Welcome to this charming 3 bedroom, 2 bathroom home in the heart of Portsmouth. Offering over 1,200 square feet of comfortable living space and endless potential. With a well-designed layout and generously sized rooms, this home is a great canvas to make your own. Situated on a spacious lot! Whether you’re a first-time buyer, investor, or someone looking to put their personal touch on a home, this property is full of promise and ready for its next chapter. Conveniently located near dining, shopping, and more! Call today for more information and to schedule your tour!

6. 2026-02-17
   status Under Contract 579-char remark

   Show marketing remark (579 chars)

   Welcome to this charming 3 bedroom, 2 bathroom home in the heart of Portsmouth. Offering over 1,200 square feet of comfortable living space and endless potential. With a well-designed layout and generously sized rooms, this home is a great canvas to make your own. Situated on a spacious lot! Whether you’re a first-time buyer, investor, or someone looking to put their personal touch on a home, this property is full of promise and ready for its next chapter. Conveniently located near dining, shopping, and more! Call today for more information and to schedule your tour!

7. 2026-01-04
   listed $171,000 Active 579-char remark

   Show marketing remark (579 chars)

   Welcome to this charming 3 bedroom, 2 bathroom home in the heart of Portsmouth. Offering over 1,200 square feet of comfortable living space and endless potential. With a well-designed layout and generously sized rooms, this home is a great canvas to make your own. Situated on a spacious lot! Whether you’re a first-time buyer, investor, or someone looking to put their personal touch on a home, this property is full of promise and ready for its next chapter. Conveniently located near dining, shopping, and more! Call today for more information and to schedule your tour!

8. 2022-08-03
   soldstatus $210,000
9. 2022-07-07
   status Under Contract
10. 2022-07-04
    historical Active Under Contract
11. 2022-07-01
    listed $203,500 Active
12. 2022-06-09
    soldstatus $146,500
13. 2022-05-12
    status Under Contract
14. 2022-05-09
    listed $145,000 Active
15. 2020-05-06
    soldstatus $123,000
16. 2020-03-26
    status Under Contract
17. 2020-03-13
    status Active
18. 2020-02-28
    status Under Contract
19. 2020-02-12
    historical Active Under Contract
20. 2020-02-03
    listed $123,000 Active
21. 2015-12-31
    historical
22. 2015-12-29
    status Active
23. 2015-12-28
    historical
24. 2015-11-11
    price $117,500
25. 2015-10-21
    listed $120,000 Active
26. 2008-08-06
    soldstatus $145,000
27. 2004-05-24
    soldstatus $83,000

ⓘ 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: $2,723 · $227/mo
• Projected year-2 tax: $2,723 · $227/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 7/10 Severe FEMA zone AE · 99% 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: $20,851
• − Mortgage interest: −$9,019
• − Property taxes: −$2,723
• − Insurance: −$5,924
• − Repairs & maintenance: −$1,668
• − Management: −$1,668
• − Depreciation: −$4,684
• Taxable loss: −$4,834
• Est. tax savings @ 24.0%: +$1,160
• After-tax cash flow: $-1,146/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

+94.0% since first listed

27 events — show timeline

• 2026-04-30 Price Changed $161,000 REINMLS
• 2026-04-17 Relisted — REINMLS
• 2026-04-07 Pending — REINMLS
• 2026-04-04 Listing Removed — REINMLS
• 2026-03-11 Relisted — REINMLS
• 2026-02-17 Pending — REINMLS
• 2026-01-04 Listed $171,000 REINMLS
• 2022-08-03 Sold (Public Records) $210,000 Public Records
• 2022-07-07 Pending — REINMLS
• 2022-07-04 Contingent — REINMLS
• 2022-07-01 Listed $203,500 REINMLS
• 2022-06-09 Sold (Public Records) $146,500 Public Records
• 2022-05-12 Pending — REINMLS
• 2022-05-09 Listed $145,000 REINMLS
• 2020-05-06 Sold (Public Records) $123,000 Public Records
• 2020-03-26 Pending — REINMLS
• 2020-03-13 Relisted — REINMLS
• 2020-02-28 Pending — REINMLS
• 2020-02-12 Contingent — REINMLS
• 2020-02-03 Listed $123,000 REINMLS
• 2015-12-31 Listing Removed — REINMLS
• 2015-12-29 Relisted — REINMLS
• 2015-12-28 Listing Removed — REINMLS
• 2015-11-11 Price Changed $117,500 REINMLS
• 2015-10-21 Listed $120,000 REINMLS
• 2008-08-06 Sold (Public Records) $145,000 Public Records
• 2004-05-24 Sold (Public Records) $83,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $2,723 · +1.3% YoY. Source: county tax records.