1109 Lakeview Dr · Portsmouth, VA 23701

$165,000

3 bd · 1.5 ba · 1,466 sqft · SingleFamily public records · 3 Days on market

Built 1974 0.27 ac lot Est $274k · 40% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Rent growth +5.0/5.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Sale is contingent upon seller’s lien holder accepting seller’s short sale proposition w/ o deficiency Judgement. WILL NOT PASS TRADITIONAL FINANCING. Property sold as-is.

Key facts

• 0.27 acre lot
• Garage
• Built 1974

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $615 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 10.8% 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; 8 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 44% 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 $46k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts 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

• 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 $165,000

Questions for the listing agent

1. Built in 1974 — 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: 1.39% ✓
• Cap rate: 10.77%
• Cash-on-cash: 15.98%
• DSCR: 1.71
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $274,142
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1109 Lakeview Dr	0.00mi	3/1.5	1,466 (0%)	1mo	$166,000	$113	99
1405 Quiet Ct	0.20mi	3/2.0	1,540 (+5%)	2mo	$280,000	$182	79
1417 Holt Dr	0.25mi	3/1.0	1,431 (-2%)	6mo	$241,000	$168	77
1400 Roosevelt Blvd	0.06mi	4/1.5 (+1)	1,593 (+9%)	4mo	$255,000	$160	74
1122 Carrington Cres S	0.49mi	3/1.0	1,425 (-3%)	5mo	$137,750	$97	66
6 Jamal Ct	0.60mi	3/2.0	1,542 (+5%)	1mo	$313,500	$203	61
1414 Loren Cres	0.57mi	3/1.5	1,593 (+9%)	1mo	$195,000	$122	58
1502 Basie Cres	0.75mi	3/2.0	1,500 (+2%)	4mo	$300,000	$200	56
1404 Cole Rd	0.50mi	3/2.0	1,600 (+9%)	5mo	$322,900	$202	55
1013 Warfield Dr	0.68mi	4/2.0 (+1)	1,415 (-4%)	4mo	$315,000	$223	53
2 Ross Ct	0.41mi	3/2.0	1,684 (+15%)	4mo	$315,000	$187	51
1009 Liston Ln	0.72mi	3/1.5	1,600 (+9%)	3mo	$310,000	$194	49

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: 12.6%
• Equity multiple: 1.53×
• Total profit: $24,636
• Equity at exit: $24,602

10-year hold

• IRR: 25.3%
• Equity multiple: 3.76×
• Total profit: $127,332
• Equity at exit: $14,266

Cash invested: $46,200 (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: 6.0×

Monthly cashflow live

• Estimated rent: $2,292 high
• Mortgage (P&I): −$865
• Tax from tax record: −$262 /mo · $3,139/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $615

Break-even live

Break-even rent $1,513

Max offer price $165,000

Occupancy floor 68%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1217 Lakeview Dr Portsmouth, VA	4.0	2.0	1425	$2,550	$1.79	7d	1	0.10mi
4642 Greenwood Dr Portsmouth, VA	2.0	1.0	946	$1,550	$1.64	43d	1	0.82mi
902 Liston Ln Portsmouth, VA	3.0	1.0	1039	$1,785	$1.72	23d	1	0.86mi
705 Warfield Dr Portsmouth, VA	3.0	1.5	1269	$2,100	$1.65	17d	1	1.00mi
840 Lancer Dr Unit 694 Portsmouth, VA	3.0	1.5	1202	$1,480	$1.23	17d	1	1.27mi
840 Lancer Dr Unit 615 Portsmouth, VA	2.0	1.5	1002	$1,288	$1.29	23d	1	1.27mi
3208 Sir Meliot Dr Chesapeake, VA	3.0	2.0	1400	$2,295	$1.64	23d	1	1.42mi
846 Drawbridge Dr Chesapeake, VA	3.0	2.0	1400	$2,600	$1.86	23d	1	1.47mi

Listing history 9 events

1. 2026-01-09
   status Under Contract
2. 2026-01-06
   listed $165,000 Active
3. 2025-12-30
   status Active
4. 2025-12-30
   historical
5. 2025-12-17
   status Under Contract
6. 2025-08-29
   status Active Under Contract
7. 2025-08-29
   historical
8. 2025-08-25
   listed Active Under Contract
9. 2025-08-22
   listed $165,000

ⓘ 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: $3,139 · $262/mo
• Projected year-2 tax: $3,139 · $262/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 2/10 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: $27,508
• − Mortgage interest: −$9,243
• − Property taxes: −$3,139
• − Insurance: −$825
• − Repairs & maintenance: −$2,201
• − Management: −$2,201
• − Depreciation: −$4,800
• Taxable income: $5,100
• Est. tax owed @ 24.0%: −$1,224
• After-tax cash flow: $6,160/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

+0.0% since first listed

9 events — show timeline

• 2026-01-09 Pending — REINMLS
• 2026-01-06 Listed $165,000 REINMLS
• 2025-12-30 Relisted — REINMLS
• 2025-12-30 Listing Removed — REINMLS
• 2025-12-17 Pending — REINMLS
• 2025-08-29 Relisted — REINMLS
• 2025-08-29 Listing Removed — REINMLS
• 2025-08-25 Listed — REINMLS
• 2025-08-22 Listed $165,000 REINMLS

Property tax history

+2.1%/yr

Latest (2025): $3,139 · +2.0% YoY. Source: county tax records.