418 Gloucester Ave · Portsmouth, VA 23702

$260,000

3 bd · 1.0 ba · 1,025 sqft · SingleFamily public records · 64 Days on market

Built 1954 8,276 sqft lot $254/sqft · 14% above area Est $248k · at est.

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Why this score? — see what drove the D 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 +8.0/30.0
• ARV discount +5.4/15.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• 1% rule +1.7/10.0

Listing remarks MLS

Conveniently located minutes from Tidewater Community College, city park, casino, dining, and major routes, this ranch style home offers easy one-level living. Set on a spacious lot with room to expand, it features a private backyard overlooking Bid-A-Wee Golf Course—perfect for relaxing or entertaining.

Key facts

• Private backyard
• Spacious lot
• 8,276 sq ft lot

Tags

• PRIVATE BACKYARD
• BID-A-WEE GOLF COURSE
• SPACIOUS LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-269 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (18.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (33.1% below list).
• Recommended offer: $174k (33.1% 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.
• Market conditions: Rents rising (+4.0%/yr); 64 active listings in the ZIP; 24 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 $28k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($244k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.

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→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $173,892 (33.1% 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 64 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 0.67% ✗
• Cap rate: 5.05%
• Cash-on-cash: -4.44%
• DSCR: 0.80
• GRM: 12.5

CMA / ARV

• ARV (median comp): $248,225
• List price: $260,000
• Delta: 4.74%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
121 York Dr	0.32mi	3/1.0	1,056 (+3%)	3mo	$150,000	$142	78
123 Francis St	0.37mi	3/2.0	1,020 (-0%)	6mo	$250,000	$245	73
42 Chatham Rd	0.17mi	2/1.0 (-1)	922 (-10%)	3mo	$238,000	$258	68
4109 Deep Creek Blvd	0.55mi	2/1.0 (-1)	1,000 (-2%)	3mo	$220,000	$220	63
4 Gatling Ct	0.59mi	3/1.0	950 (-7%)	1mo	$240,000	$253	60
13 Chatham Rd	0.23mi	3/2.0	1,158 (+13%)	6mo	$240,000	$207	59
118 Dekalb Ave	0.63mi	2/1.0 (-1)	1,065 (+4%)	2mo	$175,500	$165	58
4320 Deep Creek Blvd	0.45mi	3/1.0	1,150 (+12%)	1mo	$234,900	$204	58
132 Cushing St	0.74mi	2/1.0 (-1)	1,016 (-1%)	3mo	$215,000	$212	56
4 May St	0.70mi	3/1.5	1,064 (+4%)	4mo	$155,000	$146	56
206 Kelly Dr	0.72mi	2/2.0 (-1)	1,000 (-2%)	2mo	$125,000	$125	52
167 Allard Rd	0.70mi	3/1.0	1,127 (+10%)	5mo	$176,000	$156	46

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: 21.4%
• Equity multiple: 2.73×
• Total profit: $126,111
• Equity at exit: $234,229

10-year hold

• IRR: 19.5%
• Equity multiple: 6.33×
• Total profit: $388,335
• Equity at exit: $505,123

Cash invested: $72,800 (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: 12.5×

Monthly cashflow live

• Estimated rent: $1,739 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$171 /mo · $2,052/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $-269

Break-even live

Break-even rent $2,080

Max offer price $212,469

Occupancy floor —

Sensitivity live

Price	-10% $-122	-5% $-195	+0% $-269	+5% $-343	+10% $-416
Rent	-10% $-406	-5% $-338	+0% $-269	+5% $-200	+10% $-132
Rate	-1.0pp $-138	-0.5pp $-203	base $-269	+0.5pp $-336	+1.0pp $-405

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
102 Francis St #98 Portsmouth, VA	2.0	1.5	1000	$1,395	$1.40	16d	1	0.24mi
98 Francis St Portsmouth, VA	2.0	2.0	984	$1,395	$1.42	15d	1	0.24mi
35 Fairview Cir S Portsmouth, VA	4.0	1.5	1462	$2,100	$1.44	13d	1	0.33mi
134 Monmouth St Portsmouth, VA	3.0	2.5	1440	$2,450	$1.70	44d	1	0.46mi
2750 Greenwood Dr Portsmouth, VA	3.0	2.0	1200	$1,700	$1.42	24d	1	0.47mi
251 Independence St Portsmouth, VA	3.0	2.5	1294	$2,550	$1.97	24d	1	0.57mi
21 DeKalb Ave Portsmouth, VA	2.0	1.0	984	$1,550	$1.58	44d	1	0.70mi
3724 Deep Creek Blvd Unit 3754 Portsmouth, VA	2.0	1.0	900	$995	$1.11	13d	1	0.82mi
3724 Deep Creek Blvd Unit 3728 Portsmouth, VA	2.0	1.0	900	$995	$1.11	24d	1	0.82mi
213 Beacon Rd Portsmouth, VA	3.0	2.0	1280	$2,300	$1.80	24d	1	1.02mi
70 Manly St Portsmouth, VA	2.0	1.0	1000	$1,350	$1.35	44d	1	1.08mi
2715 Portsmouth Blvd Portsmouth, VA	2.0	1.0	1428	$1,425	$1.00	15d	1	1.11mi
2715 Portsmouth Blvd Portsmouth, VA	2.0	1.0	1428	$1,425	$1.00	17d	1	1.11mi
49 Carver Cir Portsmouth, VA	2.0	2.0	800	$1,450	$1.81	24d	1	1.13mi
1114 Woodland Terrace Dr Chesapeake, VA	3.0	1.0	1223	$2,000	$1.64	24d	1	1.14mi
231 Edison Ave Portsmouth, VA	2.0	1.5	1100	$1,275	$1.16	20d	1	1.17mi
231 Edison Ave Unit 231 Portsmouth, VA	2.0	1.5	1050	$1,275	$1.21	11d	1	1.17mi
1 Shelby St Portsmouth, VA	2.0	1.0	700	$1,250	$1.79	24d	1	1.18mi
3317 Downes St Portsmouth, VA	3.0	2.0	1148	$1,995	$1.74	3d	1	1.25mi
3317 Downes St Portsmouth, VA	3.0	2.0	1148	$1,995	$1.74	11d	1	1.25mi
705 Warfield Dr Portsmouth, VA	3.0	1.5	1269	$2,100	$1.65	17d	1	1.26mi
902 Liston Ln Portsmouth, VA	3.0	1.0	1039	$1,785	$1.72	24d	1	1.40mi
3304 Killian Ave Portsmouth, VA	3.0	1.0	800	$2,000	$2.50	24d	1	1.44mi
18 Cooper Dr Portsmouth, VA	2.0	1.0	920	$1,400	$1.52	17d	1	1.47mi

Listing history 18 events

1. 2026-06-18
   days on market $260,000 Active 64 DOM
2. 2026-06-17
   days on market $260,000 Active 63 DOM
3. 2026-06-16
   days on market $260,000 Active 62 DOM
4. 2026-06-15
   days on market $260,000 Active 61 DOM
5. 2026-06-13
   days on market $260,000 Active 59 DOM
6. 2026-06-09
   days on market $260,000 Active 55 DOM
7. 2026-06-08
   days on market $260,000 Active 54 DOM
8. 2026-06-07
   days on market $260,000 Active 53 DOM
9. 2026-06-03
   days on market $260,000 Active 49 DOM
10. 2026-06-02
    days on market $260,000 Active 48 DOM
11. 2026-06-01
    days on market $260,000 Active 47 DOM
12. 2026-05-31
    days on market $260,000 Active 46 DOM
13. 2026-04-15
    listed $265,000 Active 311-char remark

    Show marketing remark (311 chars)

    Conveniently located minutes from Tidewater Community College, city park, casino, dining, and major routes, this ranch style home offers easy one-level living. Set on a spacious lot with room to expand, it features a private backyard overlooking Bid-A-Wee Golf Course—perfect for relaxing or entertaining.

14. 2023-06-21
    soldstatus $232,000
15. 2023-05-19
    status Under Contract
16. 2023-05-15
    historical Active Under Contract
17. 2023-05-09
    listed $225,000 Active
18. 2006-10-05
    soldstatus $130,000

ⓘ 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: $2,052 · $171/mo
• Projected year-2 tax: $2,132 · $178/mo
• Expected delta: +$80/yr (+$7/mo · 3.9%)

ⓘ 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 · 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: $20,867
• − Mortgage interest: −$14,564
• − Property taxes: −$2,052
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,669
• − Management: −$1,669
• − Depreciation: −$7,564
• Taxable loss: −$7,951
• Est. tax savings @ 24.0%: +$1,908
• After-tax cash flow: $-1,320/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

+103.8% since first listed

6 events — show timeline

• 2026-04-15 Listed $265,000 REINMLS
• 2023-06-21 Sold (Public Records) $232,000 Public Records
• 2023-05-19 Pending — REINMLS
• 2023-05-15 Contingent — REINMLS
• 2023-05-09 Listed $225,000 REINMLS
• 2006-10-05 Sold (Public Records) $130,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $2,052 · +3.3% YoY. Source: county tax records.