29 Afton Pkwy · Portsmouth, VA 23702

$270,000

3 bd · 1.0 ba · 1,239 sqft · SingleFamily public records · 24 Days on market

Built 1919 Est $224k · 20% 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 +7.8/30.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• 1% rule +1.6/10.0
• ARV discount +0.0/15.0

Listing remarks

Modern Luxury Meets Timeless Craftsmanship. Located in the Cradock Historic District, this home masterfully blends architectural integrity with contemporary enhancements. The kitchen boasts high-end stainless steel appliances, including a five-burner gas range, microwave, dishwasher, four-door refrigerator, and wine cooler. Adjacent to the kitchen, is a pantry and a stylish half bath. The strategically placed bedrooms offer privacy, while the renovated full bathroom exudes a modern aesthetic. Your fully fenced backyard is a serene retreat away from the bustle of city life. Relax on the screened-in porch or entertain guests on the patio, surrounded by cottage gardens. The detached garage pre

Key facts

• Screened-in porch
• Detached garage
• Garage

Tags

• CRADOCK HISTORIC DISTRICT
• FIVE-BURNER GAS RANGE
• RENOVATED FULL BATHROOM
• FULLY FENCED BACKYARD
• SCREENED-IN PORCH
• DETACHED GARAGE

Property features AI

Finance

• HOA & community: No HOA fees indicated

Exterior

• Parking: Detached 1-car garage; Additional off-street parking; Driveway parking; Street parking
• Utilities: City/county sewer; City/county water; Electric water heater; Electric and natural gas available
• Home design: Detached traditional home; 2 stories; Crawl foundation; Simple ownership
• Construction: Shingle and vinyl siding; Crawlspace foundation; Asphalt shingle roof
• Exterior features: Patio; Privacy wood fence; Shingle siding; Vinyl siding; Asphalt shingle roof

Interior

• Kitchen: Gas range; Microwave; Dishwasher; Disposal; Refrigerator
• Bedrooms: No bedroom and full bathroom on first floor; 8 total rooms (includes bedrooms among rooms)
• Flooring: Ceramic; Vinyl; Wood
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Heat pump; Natural gas heating; Radiator heating; Central air
• Interior features: Cable hookup; Ceiling fan; Pull-down attic stairs; Attic; Foyer; Pantry; Screened porch; Utility room
• Laundry & utility: Washer; Dryer; Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $-296 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $218k (19.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (33.9% below list).
• Recommended offer: $179k (33.9% 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: Cradock Elementary (math 22% / reading 37%, grade F, #1,011 of 1,108 statewide, top 92%, 622 students, 98% FRL); Cradock Middle (math 32% / reading 62%, grade D+, #257 of 342 statewide, top 77%, 533 students, 100% FRL); Manor High (math 48% / reading 75%, grade B-, #240 of 319 statewide, top 75%, 1,236 students, 99% 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); 65 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 44% 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 $29k of equity ($2k loan paydown + $27k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y 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 $130k; list at $270k implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $178,516 (33.9% 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 1919 — 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: 0.66% ✗
• Cap rate: 4.98%
• Cash-on-cash: -4.70%
• DSCR: 0.79
• GRM: 12.6

CMA / ARV

• ARV (on-the-fly): $224,259
• Comps found: 12

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 (-2%)	3mo	$120,000	$99	86
3 Prospect Pkwy	0.17mi	3/2.0	1,216 (-2%)	2mo	$126,000	$104	83
9 Quackenbush Pl	0.35mi	3/2.0	1,250 (+1%)	0mo	$260,000	$208	78
19 Burtis St	0.09mi	4/2.0 (+1)	1,400 (+13%)	2mo	$85,000	$61	64
31 Decatur St	0.06mi	4/2.0 (+1)	1,400 (+13%)	3mo	$265,000	$189	64
4320 Deep Creek Blvd	0.59mi	3/1.0	1,150 (-7%)	1mo	$234,900	$204	60
12 Oakcrest St	0.49mi	3/1.0	1,115 (-10%)	3mo	$120,000	$108	58
4221 George Washington Hwy	0.22mi	3/3.0	1,398 (+13%)	3mo	$277,000	$198	58
100 Dahlgren Ave Unit B	0.44mi	3/1.0	1,078 (-13%)	1mo	$194,700	$181	57
14 Fairview Cir S	0.72mi	3/1.0	1,300 (+5%)	2mo	$192,000	$148	57
1512 Boxwood Dr	0.74mi	3/2.0	1,208 (-2%)	2mo	$365,000	$302	56
2621 Greenwood Dr	0.74mi	3/1.0	1,380 (+11%)	2mo	$249,000	$180	44

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: 21.2%
• Equity multiple: 2.72×
• Total profit: $129,859
• Equity at exit: $243,237

10-year hold

• IRR: 19.3%
• Equity multiple: 6.30×
• Total profit: $400,832
• Equity at exit: $524,551

Cash invested: $75,600 (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: 65
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $1,785 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$178 /mo · $2,139/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $-296

Break-even live

Break-even rent $2,160

Max offer price $217,639

Occupancy floor —

Sensitivity live

Price	-10% $-144	-5% $-220	+0% $-296	+5% $-373	+10% $-449
Rent	-10% $-437	-5% $-367	+0% $-296	+5% $-226	+10% $-155
Rate	-1.0pp $-160	-0.5pp $-228	base $-296	+0.5pp $-366	+1.0pp $-438

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18 Cooper Dr Portsmouth, VA	2.0	1.0	920	$1,400	$1.52	19d	1	0.46mi
134 Monmouth St Portsmouth, VA	3.0	2.5	1440	$2,450	$1.70	45d	1	0.56mi
3724 Deep Creek Blvd Unit 3728 Portsmouth, VA	2.0	1.0	900	$995	$1.11	25d	1	0.77mi
3724 Deep Creek Blvd Unit 3754 Portsmouth, VA	2.0	1.0	900	$995	$1.11	14d	1	0.77mi
21 DeKalb Ave Portsmouth, VA	2.0	1.0	984	$1,550	$1.58	45d	1	0.81mi
231 Edison Ave Portsmouth, VA	2.0	1.5	1100	$1,275	$1.16	22d	1	0.81mi
231 Edison Ave Unit 231 Portsmouth, VA	2.0	1.5	1050	$1,275	$1.21	12d	1	0.81mi
35 Fairview Cir S Portsmouth, VA	4.0	1.5	1462	$2,100	$1.44	14d	1	0.82mi
2750 Greenwood Dr Portsmouth, VA	3.0	2.0	1200	$1,700	$1.42	25d	1	0.92mi
251 Independence St Portsmouth, VA	3.0	2.5	1294	$2,550	$1.97	25d	1	1.03mi
213 Beacon Rd Portsmouth, VA	3.0	2.0	1280	$2,300	$1.80	25d	1	1.04mi
1314 Summit Ave Portsmouth, VA	3.0	1.5	1152	$1,750	$1.52	45d	1	1.12mi
2810 Roanoke Ave Portsmouth, VA	3.0	1.5	1100	$2,100	$1.91	45d	1	1.14mi
70 Manly St Portsmouth, VA	2.0	1.0	1000	$1,350	$1.35	45d	1	1.18mi
2906 Chestnut St Unit 1328007P Portsmouth, VA	2.0	1.0	947	$4,650	$4.91	9d	1	1.20mi
2756 Peach St Portsmouth, VA	2.0	1.5	1040	$1,495	$1.44	25d	1	1.22mi
2715 Portsmouth Blvd Portsmouth, VA	2.0	1.0	1428	$1,425	$1.00	16d	1	1.24mi
2715 Portsmouth Blvd Portsmouth, VA	2.0	1.0	1428	$1,425	$1.00	19d	1	1.24mi
102 Francis St #98 Portsmouth, VA	2.0	1.5	1000	$1,395	$1.40	18d	1	1.25mi
98 Francis St Portsmouth, VA	2.0	2.0	984	$1,395	$1.42	16d	1	1.25mi
2304 Nashville Ave Portsmouth, VA	3.0	1.5	1226	$1,395	$1.14	45d	1	1.33mi
3317 Downes St Portsmouth, VA	3.0	2.0	1148	$1,995	$1.74	12d	1	1.34mi
3317 Downes St Portsmouth, VA	3.0	2.0	1148	$1,995	$1.74	5d	1	1.34mi
818 Coolidge St Portsmouth, VA	2.0	1.0	1230	$2,100	$1.71	45d	1	1.43mi
2111 Atlanta Ave Portsmouth, VA	3.0	2.0	1418	$2,395	$1.69	45d	1	1.44mi
3304 Killian Ave Portsmouth, VA	3.0	1.0	800	$2,000	$2.50	25d	1	1.49mi
1915 Lansing Ave Portsmouth, VA	3.0	1.0	1085	$1,675	$1.54	5d	1	1.49mi
1915 Des Moines Ave Portsmouth, VA	3.0	1.0	1070	$1,700	$1.59	25d	1	1.50mi
1915 Des Moines Ave Portsmouth, VA	3.0	1.0	1070	$1,700	$1.59	18d	1	1.50mi

Listing history 19 events

1. 2026-06-07
   statusdays on market $270,000 Under Contract 24 DOM
2. 2026-06-03
   days on market $270,000 Active Under Contract 23 DOM
3. 2026-06-02
   days on market $270,000 Active Under Contract 22 DOM
4. 2026-06-01
   days on market $270,000 Active Under Contract 21 DOM
5. 2026-05-31
   days on market $270,000 Active Under Contract 20 DOM
6. 2026-05-07
   status Under Contract
7. 2026-04-27
   historical Active Under Contract
8. 2026-04-22
   listed $274,500 Active
9. 2025-02-10
   historical
10. 2025-02-04
    price $249,900
11. 2025-01-09
    listed $259,000 Active
12. 2025-01-08
    historical
13. 2024-12-13
    status Active
14. 2024-12-08
    historical Active Under Contract
15. 2024-11-27
    listed $259,000 Active
16. 2021-08-23
    soldstatus $130,000
17. 2021-07-19
    status Under Contract
18. 2021-07-07
    listed $135,000 Active
19. 2007-04-16
    soldstatus $158,000

ⓘ 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: $2,139 · $178/mo
• Projected year-2 tax: $2,214 · $184/mo
• Expected delta: +$75/yr (+$6/mo · 3.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 17% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 15 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: $21,422
• − Mortgage interest: −$15,124
• − Property taxes: −$2,139
• − Insurance: −$1,350
• − Repairs & maintenance: −$1,714
• − Management: −$1,714
• − Depreciation: −$7,855
• Taxable loss: −$8,474
• Est. tax savings @ 24.0%: +$2,034
• After-tax cash flow: $-1,523/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

+73.7% since first listed

14 events — show timeline

• 2026-05-07 Pending — REINMLS
• 2026-04-27 Contingent — REINMLS
• 2026-04-22 Listed $274,500 REINMLS
• 2025-02-10 Listing Removed — REINMLS
• 2025-02-04 Price Changed $249,900 REINMLS
• 2025-01-09 Listed $259,000 REINMLS
• 2025-01-08 Listing Removed — REINMLS
• 2024-12-13 Relisted — REINMLS
• 2024-12-08 Contingent — REINMLS
• 2024-11-27 Listed $259,000 REINMLS
• 2021-08-23 Sold (Public Records) $130,000 Public Records
• 2021-07-19 Pending — REINMLS
• 2021-07-07 Listed $135,000 REINMLS
• 2007-04-16 Sold (Public Records) $158,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $2,139 · +1.3% YoY. Source: county tax records.