5 Barney Pl · Portsmouth, VA 23702

$354,900

4 bd · 2.5 ba · 1,800 sqft · Land · 7 Days on market

Built 2026 $197/sqft · 8% above area Est $329k · 8% over

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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 +6.4/30.0
• ARV discount +4.0/15.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +0.7/10.0

Listing remarks

3.5% Builder-paid Buyer Incentive to be used at Buyer's discretion with Builder's preferred lender! Beautiful New Construction 2-story, 4BR, 2.5 bath, 1800 sq ft home w/ 9 foot ceilings on first floor! 48" LED fireplace, 42" raised-panel kitchen wall cabinets w/ soft-close drawers/doors, granite counters, stainless steel appliances! LVP flooring downstairs, carpeting upstairs. 2-zone HVAC, 10-year Structural Warranty, 2-10 Home Buyers Warranty, Builder One-Year Limited Warranty. Quality upgrades not normally found in new construction in this price range!

Key facts

• 2 parking spots
• Built 2026
• Listed 6 days

Property features AI

Finance

• HOA & community: No HOA or POA fees

Exterior

• Parking: Off-street parking for 2 vehicles
• Utilities: City/County water; City/County sewer; Gas water heater
• Home design: Detached traditional home; Two stories (2 living levels)
• Construction: Vinyl siding; Asphalt shingle roof; Slab foundation
• Exterior features: Patio; Privacy wood fence

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Electric range
• Bedrooms: Master bedroom with ensuite; Additional bedroom(s) on upper level
• Flooring: Laminate flooring
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Electric fireplace; Seven total rooms (living room, great room, dining room, family room, kitchen, utility room, porch, utility closet noted in rooms list)
• Laundry & utility: Washer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath land listed at $355k.

Deal economics

• At list price, monthly cash flow is $-609 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $267k (24.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $233k (34.3% below list).
• Recommended offer: $233k (34.3% 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; 13 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).
• At $2,333/mo this rent would consume 57% 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 $38k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$61k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 10y 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

• 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 $233,311 (34.3% 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. 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. 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?
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: 0.66% ✗
• Cap rate: 4.23%
• Cash-on-cash: -7.36%
• DSCR: 0.67
• GRM: 12.7

CMA / ARV

• ARV (median comp): $329,250
• List price: $354,900
• Delta: 13.86%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.97% rent growth · sell at horizon

5-year hold

• IRR: 19.3%
• Equity multiple: 2.58×
• Total profit: $156,804
• Equity at exit: $319,722

10-year hold

• IRR: 18.0%
• Equity multiple: 6.00×
• Total profit: $497,212
• Equity at exit: $689,493

Cash invested: $99,372 (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: 12.7×

Monthly cashflow live

• Estimated rent: $2,333 high
• Mortgage (P&I): −$1,861
• Tax est. 1.5%: −$444 /mo · $5,324/yr
• Insurance: −$148
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $-609

Break-even live

Break-even rent $3,105

Max offer price $266,708

Occupancy floor —

Sensitivity live

Price	-10% $-364	-5% $-487	+0% $-609	+5% $-732	+10% $-855
Rent	-10% $-794	-5% $-702	+0% $-609	+5% $-517	+10% $-425
Rate	-1.0pp $-431	-0.5pp $-519	base $-609	+0.5pp $-701	+1.0pp $-795

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: $88,725
• Closing costs: $10,647
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10 Parkside Pl Portsmouth, VA	3.0	2.0	1800	$2,095	$1.16	19d	1	0.10mi
213 Monmouth St Portsmouth, VA	3.0	2.5	1800	$2,450	$1.36	46d	1	0.18mi
134 Monmouth St Portsmouth, VA	3.0	2.5	1440	$2,450	$1.70	46d	1	0.40mi
35 Fairview Cir S Portsmouth, VA	4.0	1.5	1462	$2,100	$1.44	14d	1	0.65mi
251 Independence St Portsmouth, VA	3.0	2.5	1294	$2,550	$1.97	26d	1	0.88mi
213 Beacon Rd Portsmouth, VA	3.0	2.0	1280	$2,300	$1.80	26d	1	0.95mi
2509 Smithfield Rd Portsmouth, VA	3.0	2.5	1540	$2,345	$1.52	23d	1	0.97mi
2117 Battery Park Rd Chesapeake, VA	5.0	3.0	2500	$3,500	$1.40	26d	1	1.00mi
1409 Wilcox Ave Portsmouth, VA	3.0	2.5	1800	$2,500	$1.39	46d	1	1.05mi
2304 Nashville Ave Portsmouth, VA	3.0	1.5	1226	$1,395	$1.14	46d	1	1.30mi
528 Normandy St Portsmouth, VA	3.0	2.5	2262	$2,800	$1.24	26d	1	1.39mi
2215 Atlanta Ave Portsmouth, VA	4.0	1.0	1628	$2,150	$1.32	10d	1	1.42mi
2111 Atlanta Ave Portsmouth, VA	3.0	2.0	1418	$2,395	$1.69	46d	1	1.49mi

Listing history 27 events

1. 2026-06-22
   days on market $354,900 Active 7 DOM
2. 2026-06-21
   days on market $354,900 Active 6 DOM
3. 2026-06-18
   days on market $354,900 Active 3 DOM
4. 2026-06-17
   days on market $354,900 Active 2 DOM
5. 2026-06-16
   remarks 561-char remark
6. 2026-06-16
   pricedays on marketlisting id $354,900 Active 1 DOM
7. 2026-06-15
   days on market $374,900 Active 122 DOM
8. 2026-06-13
   days on market $374,900 Active 120 DOM
9. 2026-06-09
   days on market $374,900 Active 116 DOM
10. 2026-06-08
    days on market $374,900 Active 115 DOM
11. 2026-06-07
    days on market $374,900 Active 114 DOM
12. 2026-06-03
    days on market $374,900 Active 110 DOM
13. 2026-06-02
    days on market $374,900 Active 109 DOM
14. 2026-06-01
    days on market $374,900 Active 108 DOM
15. 2026-05-31
    days on market $374,900 Active 107 DOM
16. 2026-02-13
    listed $374,900 Active 521-char remark
17. 2025-02-22
    status Under Contract
18. 2025-02-18
    status Active
19. 2024-12-20
    status Under Contract
20. 2024-12-16
    status Active
21. 2024-12-15
    historical Active Under Contract
22. 2024-11-11
    status Under Contract
23. 2024-10-04
    listed $69,900 Active
24. 2018-09-20
    historical
25. 2018-09-05
    listed $31,000 Active
26. 2017-05-11
    historical
27. 2016-11-11
    listed $45,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% 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: $27,997
• − Mortgage interest: −$19,880
• − Property taxes: −$5,324
• − Insurance: −$1,774
• − Repairs & maintenance: −$2,240
• − Management: −$2,240
• − Depreciation: −$10,324
• Taxable loss: −$13,785
• Est. tax savings @ 24.0%: +$3,308
• After-tax cash flow: $-4,005/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

+688.7% since first listed

14 events — show timeline

• 2026-06-15 Listed $354,900 REINMLS
• 2026-06-15 Listing Removed — REINMLS
• 2026-02-13 Listed $374,900 REINMLS
• 2025-02-22 Pending — REINMLS
• 2025-02-18 Relisted — REINMLS
• 2024-12-20 Pending — REINMLS
• 2024-12-16 Relisted — REINMLS
• 2024-12-15 Contingent — REINMLS
• 2024-11-11 Pending — REINMLS
• 2024-10-04 Listed $69,900 REINMLS
• 2018-09-20 Listing Removed — REINMLS
• 2018-09-05 Listed $31,000 REINMLS
• 2017-05-11 Listing Removed — REINMLS
• 2016-11-11 Listed $45,000 REINMLS

Property tax history

-4.3%/yr

Latest (2025): $704 · +0.8% YoY. Source: county tax records.