444 Dinwiddie St St · Portsmouth, VA 23704

$419,000

None bd · 5.0 ba · 4,406 sqft · MultiFamily public records · 1 Days on market

Built 1880 $95/sqft · 15% below area Est $413k · at est. ↓ 2% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +6.9/15.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Fantastic opportunity for investors to own a 5 Unit Apartment Complex in the heart of Olde Towne.

Key facts

• Historic character
• Updated bathrooms
• Back deck

Tags

• HISTORIC CHARACTER
• LARGE COVERED FRONT PORCH
• BACK DECK
• GENEROUS OUTDOOR SPACE
• UPDATED KITCHENS
• UPDATED BATHROOMS

Property features AI

Finance

• Financial info: Five total units (multi-unit property)

Exterior

• Parking: Off-street parking; Close to mass transit
• Utilities: City water; City sewer; Electric (service available); Gas (service available); Gas water heater
• Home design: Converted single-family apartment building; 3 stories; Simple ownership
• Construction: Steel construction; Crawl foundation
• Exterior features: Aluminum siding; Asphalt shingle roof

Interior

• Kitchen: Gas ranges; Refrigerators
• Flooring: Laminate
• Heating & cooling: Hot water heating; Radiator heating; Window/wall cooling
• Interior features: Laminate flooring; One fireplace in Unit 1; One fireplace in Unit 2
• Laundry & utility: Washer included; Dryer included

What this means for you Summary

Snapshot

• This is a 5 × 3-bed/2-bath units multifamily listed at $419k.

Deal economics

• At list price, monthly cash flow is $3k ($41k/yr) — positive. Per door: $680/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $419k).
• Cap rate 17.3% 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: Park View Elementary (math 22% / reading 47%, grade F, #966 of 1,108 statewide, top 89%, 463 students, 99% 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 (+3.3%/yr); 131 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 300 units permitted in Portsmouth city in 2024 (112 in 5+ unit buildings).
• At $8,451/mo this rent would consume 205% of the median local household income ($50k/yr) (locally 1727% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $117k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 2y ago 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 $245k; list at $419k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1880 — 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 $419,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1880 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.02% ✓
• Cap rate: 17.26%
• Cash-on-cash: 39.16%
• DSCR: 2.74
• GRM: 4.1

CMA / ARV

• ARV (median comp): $413,359
• List price: $419,000
• Delta: 8.86%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.31% rent growth · sell at horizon

5-year hold

• IRR: 30.7%
• Equity multiple: 2.29×
• Total profit: $151,771
• Equity at exit: $62,474

10-year hold

• IRR: 38.1%
• Equity multiple: 4.61×
• Total profit: $423,530
• Equity at exit: $36,227

Cash invested: $117,320 (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: 131
• Price-to-rent: 20.7×

Monthly cashflow live

• Estimated rent: $8,451 high
• Mortgage (P&I): −$2,197
• Tax from tax record: −$476 /mo · $5,713/yr
• Insurance: −$175
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,775
• Net cashflow: $3,402

Break-even live

Break-even rent $4,145

Max offer price $419,000

Occupancy floor 55%

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 5× units	3	2	$8,450
Total (5 units)			$8,451

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: $104,750
• Closing costs: $12,570
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
410 Pendleton St Unit A Norfolk, VA	3.0	1.5	3624	$1,400	$0.39	43d	1	1.12mi

Listing history 16 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   pricedays on marketlisting id $419,000 Active 1 DOM
3. 2026-06-09
   days on market $450,000 Active 54 DOM
4. 2026-06-08
   statusdays on market $450,000 Active 53 DOM
5. 2026-06-07
   days on market $450,000 Active Under Contract 52 DOM
6. 2026-06-03
   days on market $450,000 Active Under Contract 48 DOM
7. 2026-06-02
   days on market $450,000 Active Under Contract 47 DOM
8. 2026-06-01
   days on market $450,000 Active Under Contract 46 DOM
9. 2026-05-31
   days on market $450,000 Active Under Contract 45 DOM
10. 2026-04-16
    listed $450,000 Active 604-char remark
11. 2025-07-28
    soldstatus $245,000 Sold 97-char remark

    Show marketing remark (97 chars)

    Fantastic opportunity for investors to own a 5 Unit Apartment Complex in the heart of Olde Towne.

12. 2025-06-26
    status Under Contract 97-char remark

    Show marketing remark (97 chars)

    Fantastic opportunity for investors to own a 5 Unit Apartment Complex in the heart of Olde Towne.

13. 2025-05-22
    price $350,000 97-char remark

    Show marketing remark (97 chars)

    Fantastic opportunity for investors to own a 5 Unit Apartment Complex in the heart of Olde Towne.

14. 2025-01-27
    price $374,999 97-char remark

    Show marketing remark (97 chars)

    Fantastic opportunity for investors to own a 5 Unit Apartment Complex in the heart of Olde Towne.

15. 2024-08-20
    price $399,000 97-char remark

    Show marketing remark (97 chars)

    Fantastic opportunity for investors to own a 5 Unit Apartment Complex in the heart of Olde Towne.

16. 2024-08-12
    listed $426,000 Active 97-char remark

    Show marketing remark (97 chars)

    Fantastic opportunity for investors to own a 5 Unit Apartment Complex in the heart of Olde Towne.

ⓘ 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: $5,713 · $476/mo
• Projected year-2 tax: $5,713 · $476/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 8/10 Severe FEMA zone AE · 97% 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: $101,412
• − Mortgage interest: −$23,471
• − Property taxes: −$5,713
• − Insurance: −$7,214
• − Repairs & maintenance: −$8,113
• − Management: −$8,113
• − Depreciation: −$12,189
• Taxable income: $36,600
• Est. tax owed @ 24.0%: −$8,784
• After-tax cash flow: $32,038/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

-1.6% since first listed

12 events — show timeline

• 2026-06-17 Listed $419,000 REINMLS
• 2026-06-12 Listing Removed — REINMLS
• 2026-06-10 Price Changed $399,000 REINMLS
• 2026-06-08 Relisted — REINMLS
• 2026-05-20 Contingent — REINMLS
• 2026-04-16 Listed $450,000 REINMLS
• 2025-07-28 Sold (MLS) $245,000 REINMLS
• 2025-06-26 Pending — REINMLS
• 2025-05-22 Price Changed $350,000 REINMLS
• 2025-01-27 Price Changed $374,999 REINMLS
• 2024-08-20 Price Changed $399,000 REINMLS
• 2024-08-12 Listed $426,000 REINMLS

Property tax history

+3.2%/yr

Latest (2025): $5,713 · +2.6% YoY. Source: county tax records.