515 Weaver Cir · Portsmouth, VA 23701

$180,000

3 bd · 1.0 ba · 926 sqft · SingleFamily public records · 10 Days on market

Built 1954 9,147 sqft lot Est $215k · 16% under ↓ 15% since listing

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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 +18.0/30.0
• ARV discount +14.8/15.0
• DSCR +5.6/10.0
• Rent growth +5.0/5.0
• 1% rule +4.6/10.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming one story rancher offering comfort, convenience, and accessibility! This 3 bedroom, 1.5 bath home features low maintenance vinyl siding, a covered front porch with wheelchair ramp access, and a rear deck overlooking an oversized fenced backyard. A matching storage shed provides additional storage space. Inside, you'll find a functional floor plan with three bedrooms, a full bath featuring an accessible walk-in therapeutic tub with jets, and a convenient half bath in the primary bedroom. Recent updates include a water heater installed in 2024. Conveniently located just 1.1 miles from Rivers Casino Portsmouth and only minutes from shopping, dining, and entertainment. Whether you're

Key facts

• Covered front porch
• Water heater
• Storage shed

Tags

• VINYL SIDING
• COVERED FRONT PORCH
• REAR DECK
• OVERSIZED FENCED BACKYARD
• STORAGE SHED
• WATER HEATER

Property features AI

Finance

• HOA & community: No HOA fees reported

Exterior

• Parking: Driveway spaces; Street parking
• Utilities: City/County water; City/County sewer; Gas water heater; Natural gas available; Electric for central air
• Home design: Detached ranch; Single-story; Crawl foundation; Simple ownership
• Construction: Vinyl exterior; Asphalt shingle roof; Crawl space foundation
• Exterior features: Vinyl siding; Asphalt shingle roof; Lot approximately 0.21 acres

Interior

• Kitchen: Microwave; Range; Gas range; Refrigerator
• Bedrooms: Bedroom and full bathroom on first floor
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Ceiling fan; Jetted tub
• 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 $180k.

Deal economics

• At list price, monthly cash flow is $156 ($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 $172k (4.4% below list).
• Recommended offer: $172k (4.4% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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: Lakeview Elementary (math 22% / reading 47%, grade F, #966 of 1,108 statewide, top 89%, 419 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 100% FRL vs 60% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+11.9%/yr); 167 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 300 units permitted in Portsmouth city in 2024 (112 in 5+ unit buildings).
• This rent runs 33% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1954 — 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 $172,158 (4.4% below list)

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.96% ✗
• Cap rate: 7.33%
• Cash-on-cash: 3.70%
• DSCR: 1.16
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $214,832
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
507 Eisenhower Cir	0.06mi	3/1.0	930 (+0%)	4mo	$252,500	$272	94
408 Roosevelt Blvd	0.14mi	3/1.0	926 (0%)	3mo	$215,000	$232	91
510 Bunche Blvd	0.16mi	3/1.0	926 (0%)	3mo	$135,000	$146	90
402 Orton St	0.19mi	3/1.0	945 (+2%)	3mo	$133,000	$141	85
3802 Greenwood Dr	0.40mi	3/1.5	924 (-0%)	3mo	$156,000	$169	77
743 Bold St	0.14mi	3/1.0	816 (-12%)	0mo	$252,000	$309	73
4 Gatling Ct	0.47mi	3/1.0	950 (+3%)	1mo	$240,000	$253	73
310 Bunche Blvd	0.24mi	3/1.0	1,007 (+9%)	3mo	$219,600	$218	72
1303 Stratford St	0.25mi	3/2.0	1,000 (+8%)	1mo	$250,000	$250	70
403 Viking St	0.48mi	3/2.0	1,000 (+8%)	1mo	$267,000	$267	60
1621 Spectator St	0.72mi	3/1.0	842 (-9%)	4mo	$108,000	$128	48
121 York Dr	0.72mi	3/1.0	1,056 (+14%)	3mo	$150,000	$142	40

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: -5.2%
• Equity multiple: 0.80×
• Total profit: $-10,158
• Equity at exit: $26,839

10-year hold

• IRR: 9.5%
• Equity multiple: 1.90×
• Total profit: $45,332
• Equity at exit: $15,563

Cash invested: $50,400 (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: 167
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,722 high
• Mortgage (P&I): −$944
• Tax from tax record: −$186 /mo · $2,226/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $156

Break-even live

Break-even rent $1,525

Max offer price $180,000

Occupancy floor 86%

Sensitivity live

Price	-10% $257	-5% $207	+0% $156	+5% $105	+10% $54
Rent	-10% $20	-5% $88	+0% $156	+5% $224	+10% $292
Rate	-1.0pp $246	-0.5pp $201	base $156	+0.5pp $109	+1.0pp $62

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
902 Liston Ln Portsmouth, VA	3.0	1.0	1039	$1,785	$1.72	24d	1	0.42mi
98 Francis St Portsmouth, VA	2.0	2.0	984	$1,395	$1.42	15d	1	0.77mi
102 Francis St #98 Portsmouth, VA	2.0	1.5	1000	$1,395	$1.40	17d	1	0.77mi
4642 Greenwood Dr Portsmouth, VA	2.0	1.0	946	$1,550	$1.64	44d	1	1.10mi
9 Seminole Dr Portsmouth, VA	1.0–2.0	1.0	545	$1,155	$2.12	45d	5	1.25mi
9 Seminole Dr Unit SEB08-N Portsmouth, VA	2.0	1.0	610	$1,050	$1.72	44d	1	1.29mi
200 Chowan Dr Portsmouth, VA	1.0–2.0	1.0–2.0	737	$1,600	$2.17	3d	8	1.30mi

Listing history 6 events

1. 2026-06-15
   statusdays on market $180,000 Under Contract 10 DOM
2. 2026-06-13
   days on market $180,000 Active Under Contract 9 DOM
3. 2026-06-09
   days on market $180,000 Active Under Contract 5 DOM
4. 2026-06-08
   statusdays on market $180,000 Active Under Contract 4 DOM
5. 2026-06-07
   remarks 699-char remark
6. 2026-06-07
   listed $180,000 Active 3 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: $2,226 · $186/mo
• Projected year-2 tax: $2,226 · $186/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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,659
• − Mortgage interest: −$10,083
• − Property taxes: −$2,226
• − Insurance: −$900
• − Repairs & maintenance: −$1,653
• − Management: −$1,653
• − Depreciation: −$5,236
• Taxable loss: −$1,092
• Est. tax savings @ 24.0%: +$262
• After-tax cash flow: $2,129/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

-14.9% since first listed

2 events — show timeline

• 2026-06-04 Listed $180,000 REINMLS
• 2023-12-13 Sold (Public Records) $211,550 Public Records

Property tax history

+25.9%/yr

Latest (2025): $2,226 · +4.9% YoY. Source: county tax records.