2707 Pinewell St · Portsmouth, VA 23702

$234,999

2 bd · 1.0 ba · 784 sqft · SingleFamily public records · 13 Days on market

Built 1942 Est $193k · 22% over

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Why this score? — see what drove the F 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 +7.5/30.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• 1% rule +1.4/10.0
• ARV discount +0.0/15.0

Listing remarks

Welcome to 2707 Pinewell Street in Portsmouth! This beautifully updated 2-bedroom, 1.5-bath home offers over 900 square feet of comfortable living space and is packed with charm and functionality. Inside, you’ll find a bright, modern kitchen with updated cabinetry, countertops, and appliances, along with stylish brand new floors, paint and roof. This place is completely renovated top to bottom! Step outside to enjoy the spacious yard and an oversized detached garage for a workshop, storage, hobbies, or additional parking. Located near shopping, dining, military bases, and major interstates, this move-in-ready property is an excellent opportunity for first-time buyers, downsizers, or i

Key facts

• Spacious yard
• Modern kitchen
• Updated cabinetry

Tags

• MODERN KITCHEN
• UPDATED CABINETRY
• SPACIOUS YARD
• OVERSIZED DETACHED GARAGE

Property features AI

Finance

• HOA & community: No HOA fees (N/A / zero listed)

Exterior

• Parking: Detached garage (includes multiple spaces; garage noted as 1-car detached and multi-car/off-street/driveway spaces)
• Utilities: City/County water; City/County sewer; Electric water heater; Electric power
• Home design: Detached property; Bungalow/Cottage style; Single-story with one living level; Crawlspace foundation
• Construction: Vinyl exterior; Crawl foundation; Asphalt shingle roof
• Exterior features: Vinyl siding; Asphalt shingle roof

Interior

• Kitchen: Gas range; Microwave; Refrigerator
• Bedrooms: First-floor master bedroom; Additional bedroom(s) (total rooms indicate multiple bedrooms)
• Flooring: Wood
• Bathrooms: One full bathroom; One half bathroom; Full bathroom on the first floor
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fan; Wood flooring
• Laundry & utility: Washer hookup; Dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $-287 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (21.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (36.1% below list).
• Recommended offer: $150k (36.1% 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: Douglass Park Elementary (math 12% / reading 37%, grade F, #1,051 of 1,108 statewide, top 96%, 550 students, 98% 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 (+4.0%/yr); 64 active listings in the ZIP; 23 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 37% 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 $25k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $95k; list at $235k implies a 147% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• 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 $150,279 (36.1% 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. Built in 1942 — 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: 0.64% ✗
• Cap rate: 4.83%
• Cash-on-cash: -5.24%
• DSCR: 0.77
• GRM: 13.0

CMA / ARV

• ARV (on-the-fly): $192,864
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3312 Knox St	0.15mi	2/1.0	770 (-2%)	5mo	$210,000	$273	86
2707 Arcadia Ave	0.05mi	2/1.0	700 (-11%)	4mo	$205,000	$293	76
2703 Magnolia St	0.05mi	2/1.0	864 (+10%)	8mo	$177,000	$205	74
3304 Gwin St	0.22mi	3/1.0 (+1)	835 (+6%)	8mo	$205,000	$246	67
18 Neville St	0.36mi	2/1.0	698 (-11%)	0mo	$198,000	$284	65
1921 Nashville Ave	0.70mi	2/1.0	800 (+2%)	1mo	$194,000	$243	64
3302 Elliott Ave	0.64mi	2/1.0	772 (-2%)	6mo	$185,000	$240	63
222 Charles Ave	0.63mi	2/1.0	822 (+5%)	0mo	$219,900	$268	62
321 Beacon Rd	0.41mi	3/1.0 (+1)	864 (+10%)	1mo	$155,000	$179	58
521 Beacon Rd	0.46mi	3/1.0 (+1)	864 (+10%)	1mo	$135,000	$156	56
253 Beacon Rd	0.39mi	3/1.0 (+1)	900 (+15%)	8mo	$225,000	$250	46
2600 Roanoke Ave	0.75mi	3/1.0 (+1)	900 (+15%)	2mo	$107,000	$119	34

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: 20.8%
• Equity multiple: 2.69×
• Total profit: $111,100
• Equity at exit: $211,706

10-year hold

• IRR: 19.1%
• Equity multiple: 6.24×
• Total profit: $344,549
• Equity at exit: $456,551

Cash invested: $65,800 (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: 13.0×

Monthly cashflow live

• Estimated rent: $1,503 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$144 /mo · $1,731/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $-287

Break-even live

Break-even rent $1,866

Max offer price $184,245

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3304 Killian Ave Portsmouth, VA	3.0	1.0	800	$2,000	$2.50	24d	1	0.19mi
1 Shelby St Portsmouth, VA	2.0	1.0	700	$1,250	$1.79	24d	1	0.26mi
11 Carver Cir Portsmouth, VA	2.0	1.0	695	$1,395	$2.01	44d	1	0.31mi
70 Manly St Portsmouth, VA	2.0	1.0	1000	$1,350	$1.35	44d	1	0.38mi
49 Carver Cir Portsmouth, VA	2.0	2.0	800	$1,450	$1.81	24d	1	0.40mi
3724 Deep Creek Blvd Unit 3728 Portsmouth, VA	2.0	1.0	900	$995	$1.11	24d	1	0.80mi
3724 Deep Creek Blvd Unit 3754 Portsmouth, VA	2.0	1.0	900	$995	$1.11	12d	1	0.80mi
2810 Roanoke Ave Portsmouth, VA	3.0	1.5	1100	$2,100	$1.91	44d	1	0.80mi
21 DeKalb Ave Portsmouth, VA	2.0	1.0	984	$1,550	$1.58	44d	1	0.82mi
231 Edison Ave Portsmouth, VA	2.0	1.5	1100	$1,275	$1.16	20d	1	0.83mi
231 Edison Ave Unit 231 Portsmouth, VA	2.0	1.5	1050	$1,275	$1.21	10d	1	0.83mi
3626 Bart St Unit BAR3626-DF Portsmouth, VA	2.0	1.0	900	$1,000	$1.11	7d	1	0.95mi
1915 Des Moines Ave Portsmouth, VA	3.0	1.0	1070	$1,700	$1.59	24d	1	1.01mi
1915 Des Moines Ave Portsmouth, VA	3.0	1.0	1070	$1,700	$1.59	16d	1	1.01mi
1915 Lansing Ave Portsmouth, VA	3.0	1.0	1085	$1,675	$1.54	3d	1	1.05mi
3310 Glasgow St Portsmouth, VA	2.0	1.0	1100	$1,600	$1.45	3d	1	1.17mi
1416 Richmond Ave Portsmouth, VA	2.0	1.0	1024	$1,150	$1.12	44d	1	1.22mi
401 Constitution Ave Unit B Portsmouth, VA	1.0	1.0	600	$1,100	$1.83	44d	1	1.33mi
2007 Elm Ave Portsmouth, VA	3.0	1.0	903	$1,300	$1.44	20d	1	1.35mi
98 Francis St Portsmouth, VA	2.0	2.0	984	$1,395	$1.42	15d	1	1.45mi
102 Francis St #98 Portsmouth, VA	2.0	1.5	1000	$1,395	$1.40	16d	1	1.45mi
2756 Peach St Portsmouth, VA	2.0	1.5	1040	$1,495	$1.44	24d	1	1.48mi
742 Mount Vernon Ave Unit B Portsmouth, VA	1.0	1.0	650	$1,100	$1.69	44d	1	1.49mi

Listing history 11 events

1. 2026-06-18
   days on market $234,999 Active 13 DOM
2. 2026-06-17
   remarks 693-char remark
3. 2026-06-17
   price $234,999 Active 12 DOM
4. 2026-06-17
   days on market $239,999 Active 12 DOM
5. 2026-06-16
   days on market $239,999 Active 11 DOM
6. 2026-06-15
   days on market $239,999 Active 10 DOM
7. 2026-06-13
   days on market $239,999 Active 8 DOM
8. 2026-06-09
   days on market $239,999 Active 4 DOM
9. 2026-06-08
   days on market $239,999 Active 3 DOM
10. 2026-06-07
    remarks 687-char remark
11. 2026-06-07
    listed $239,999 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: $1,731 · $144/mo
• Projected year-2 tax: $1,927 · $161/mo
• Expected delta: +$196/yr (+$16/mo · 11.3%)

ⓘ 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: $18,033
• − Mortgage interest: −$13,164
• − Property taxes: −$1,731
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,443
• − Management: −$1,443
• − Depreciation: −$6,836
• Taxable loss: −$7,758
• Est. tax savings @ 24.0%: +$1,862
• After-tax cash flow: $-1,586/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

+152.6% since first listed

2 events — show timeline

• 2026-06-05 Listed $239,999 REINMLS
• 2026-02-17 Sold (Public Records) $95,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $1,731 · +1.6% YoY. Source: county tax records.