14 Kirby St · Portsmouth, VA 23702

$250,000

4 bd · 2.5 ba · 1,426 sqft · SingleFamily public records · 46 Days on market

Built 1939 $175/sqft · at area comps Est $262k · at est.

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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 +16.0/30.0
• Appreciation +10.0/10.0
• ARV discount +9.6/15.0
• DSCR +4.9/10.0
• Schools +3.9/10.0
• 1% rule +3.8/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0

Listing remarks

For Sale By Owner: Check out this house with 4 bedrooms and 2 baths. First floor has a bed with 1/2 bath attached. Full baths on first and second floors. In 2023 installed new tankless water heater, stainless steel refrigerator, oven, kitchen counters, cabinets and flooring. In 2025 new carpet installed on second floor. In 2026 HVAC system updated (warranty included) and Foundation was upgraded (25 year warranty). Washer / Dryer included. In addition, this home is convenient to interstates, bases, beaches, shopping, and more. Plenty of parking in the driveway. Seller is open to creative financing including lease to own option. Contact Owner for more details.

Key facts

• New carpet
• Kitchen counters
• Kitchen cabinets

Tags

• TANKLESS WATER HEATER
• STAINLESS STEEL REFRIGERATOR
• KITCHEN COUNTERS
• KITCHEN CABINETS
• NEW CARPET
• HVAC SYSTEM UPDATED

Property features AI

Exterior

• Parking: 4-car garage

Interior

• Bathrooms: 2 full bathrooms; 1 half bathroom
• Interior features: Two full bathrooms and one half bathroom

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $124 ($1k/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 $221k (11.5% below list).
• Recommended offer: $221k (11.5% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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.
• Market conditions: Rents rising (+4.0%/yr); 64 active listings in the ZIP; 23 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).
• At $2,211/mo this rent would consume 54% of the median local household income ($49k/yr) (locally 534% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 4.0% rent growth), your $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $115k; list at $250k implies a 117% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — 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 $221,133 (11.5% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — 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. 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.
7. 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.
8. 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: 0.88% ✗
• Cap rate: 6.89%
• Cash-on-cash: 2.13%
• DSCR: 1.09
• GRM: 9.4

CMA / ARV

• ARV (median comp): $262,409
• List price: $250,000
• Delta: -4.73%
• 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
109 Franklin Ave	0.33mi	3/2.5 (-1)	1,435 (+1%)	0mo	$345,000	$240	78
2621 Greenwood Dr	0.15mi	3/1.0 (-1)	1,380 (-3%)	2mo	$249,000	$180	75
207 Fairview Cir N	0.31mi	4/1.5	1,371 (-4%)	3mo	$270,000	$197	73
3012 Elliott Ave	0.37mi	3/1.5 (-1)	1,350 (-5%)	0mo	$170,000	$126	64
3409 Astor Ave	0.71mi	4/2.0	1,440 (+1%)	2mo	$235,000	$163	62
19 Burtis St	0.69mi	4/2.0	1,400 (-2%)	1mo	$85,000	$61	62
422 Forecastle St	0.47mi	3/2.5 (-1)	1,520 (+7%)	2mo	$360,000	$237	60
4221 George Washington Hwy	0.61mi	3/3.0 (-1)	1,398 (-2%)	3mo	$277,000	$198	59
14 Fairview Cir S	0.33mi	3/1.0 (-1)	1,300 (-9%)	2mo	$192,000	$148	57
173 Noble St	0.61mi	3/2.0 (-1)	1,300 (-9%)	0mo	$325,000	$250	49
3204 Gwin St	0.65mi	3/2.0 (-1)	1,288 (-10%)	2mo	$265,000	$206	45
10 Dewey St	0.66mi	3/2.0 (-1)	1,269 (-11%)	3mo	$225,000	$177	41

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: 26.1%
• Equity multiple: 3.09×
• Total profit: $146,216
• Equity at exit: $225,220

10-year hold

• IRR: 23.2%
• Equity multiple: 7.13×
• Total profit: $428,899
• Equity at exit: $485,695

Cash invested: $70,000 (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: 9.4×

Monthly cashflow live

• Estimated rent: $2,211 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$208 /mo · $2,490/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$464
• Net cashflow: $124

Break-even live

Break-even rent $2,054

Max offer price $250,000

Occupancy floor 89%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2750 Greenwood Dr Portsmouth, VA	3.0	2.0	1200	$1,700	$1.42	23d	1	0.27mi
251 Independence St Portsmouth, VA	3.0	2.5	1294	$2,550	$1.97	23d	1	0.33mi
35 Fairview Cir S Portsmouth, VA	4.0	1.5	1462	$2,100	$1.44	12d	1	0.34mi
213 Beacon Rd Portsmouth, VA	3.0	2.0	1280	$2,300	$1.80	23d	1	0.41mi
134 Monmouth St Portsmouth, VA	3.0	2.5	1440	$2,450	$1.70	43d	1	0.58mi
10 Parkside Pl Portsmouth, VA	3.0	2.0	1800	$2,095	$1.16	17d	1	0.59mi
213 Monmouth St Portsmouth, VA	3.0	2.5	1800	$2,450	$1.36	44d	1	0.59mi
3317 Downes St Portsmouth, VA	3.0	2.0	1148	$1,995	$1.74	3d	1	0.70mi
3317 Downes St Portsmouth, VA	3.0	2.0	1148	$1,995	$1.74	10d	1	0.70mi
2810 Roanoke Ave Portsmouth, VA	3.0	1.5	1100	$2,100	$1.91	43d	1	0.86mi
2304 Nashville Ave Portsmouth, VA	3.0	1.5	1226	$1,395	$1.14	43d	1	0.94mi
22 Radford St Portsmouth, VA	4.0	3.0	1651	$2,550	$1.54	3d	1	1.01mi
207 Falcon Ave Portsmouth, VA	3.0	2.5	1720	$3,000	$1.74	43d	1	1.02mi
1409 Wilcox Ave Portsmouth, VA	3.0	2.5	1800	$2,500	$1.39	43d	1	1.02mi
2509 Smithfield Rd Portsmouth, VA	3.0	2.5	1540	$2,345	$1.52	21d	1	1.04mi
1314 Summit Ave Portsmouth, VA	3.0	1.5	1152	$1,750	$1.52	43d	1	1.09mi
1915 Des Moines Ave Portsmouth, VA	3.0	1.0	1070	$1,700	$1.59	23d	1	1.26mi
1915 Des Moines Ave Portsmouth, VA	3.0	1.0	1070	$1,700	$1.59	16d	1	1.26mi
1915 Lansing Ave Portsmouth, VA	3.0	1.0	1085	$1,675	$1.54	3d	1	1.28mi
2215 Atlanta Ave Portsmouth, VA	4.0	1.0	1628	$2,150	$1.32	7d	1	1.29mi
2111 Atlanta Ave Portsmouth, VA	3.0	2.0	1418	$2,395	$1.69	43d	1	1.34mi
3401 Brighton St Portsmouth, VA	3.0	2.5	1439	$2,195	$1.53	3d	1	1.43mi
2007 Elm Ave Portsmouth, VA	3.0	1.0	903	$1,300	$1.44	20d	1	1.45mi

Listing history 18 events

1. 2026-06-18
   days on market $250,000 Active 46 DOM
2. 2026-06-17
   days on market $250,000 Active 45 DOM
3. 2026-06-16
   days on market $250,000 Active 44 DOM
4. 2026-06-15
   days on market $250,000 Active 43 DOM
5. 2026-06-13
   days on market $250,000 Active 41 DOM
6. 2026-06-09
   days on market $250,000 Active 37 DOM
7. 2026-06-08
   days on market $250,000 Active 36 DOM
8. 2026-06-07
   days on market $250,000 Active 35 DOM
9. 2026-06-03
   days on market $250,000 Active 31 DOM
10. 2026-06-02
    days on market $250,000 Active 30 DOM
11. 2026-06-01
    days on market $250,000 Active 29 DOM
12. 2026-05-31
    days on market $250,000 Active 28 DOM
13. 2026-05-12
    listed $250,000 Active 667-char remark
14. 2026-04-29
    listed $250,000 Active 667-char remark
15. 2023-01-25
    historical
16. 2022-11-03
    status Under Contract
17. 2022-09-27
    listed $113,000 Active
18. 2010-05-10
    soldstatus $115,000

ⓘ 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: $2,490 · $208/mo
• Projected year-2 tax: $2,490 · $208/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 3/10 Moderate FEMA zone X (unshaded) · 9% 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: $26,536
• − Mortgage interest: −$14,004
• − Property taxes: −$2,490
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,123
• − Management: −$2,123
• − Depreciation: −$7,273
• Taxable loss: −$2,727
• Est. tax savings @ 24.0%: +$654
• After-tax cash flow: $2,145/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

+117.4% since first listed

5 events — show timeline

• 2026-04-29 Listed $250,000 Fizber.com
• 2023-01-25 Listing Removed — REINMLS
• 2022-11-03 Pending — REINMLS
• 2022-09-27 Listed $113,000 REINMLS
• 2010-05-10 Sold (Public Records) $115,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $2,490 · +2.9% YoY. Source: county tax records.