109 Appomattox Ave · Portsmouth, VA 23702

$369,900

4 bd · 2.5 ba · 2,172 sqft · SingleFamily public records · 10 Days on market

Built 2016 6,098 sqft lot Est $374k · 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
• ARV discount +7.9/15.0
• Cash flow +7.0/30.0
• 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 +1.2/10.0

Listing remarks

Welcome to 109 Appomattox Avenue, a beautifully maintained newer home offering space, functionality, & an easy-flow layout designed for everyday living. Built in 2016, this spacious 4-bedroom, 2.5-bath home features over 2,100 square feet with an open-concept design that feels both comfortable and inviting from the moment you walk in. The main living area offers great natural flow for entertaining or simply enjoying day-to-day life, while thoughtful details throughout the home add warmth and character. The kitchen opens seamlessly into the living and dining spaces, creating a layout today’s buyers are truly looking for. Upstairs, the generous primary suite includes a double vanit

Key facts

• Open-concept design
• Double vanity
• Deck

Tags

• OPEN-CONCEPT DESIGN
• FULLY FENCED BACKYARD
• DOUBLE VANITY
• SEPARATE SOAKING TUB
• SECOND-FLOOR UTILITY ROOM
• DECK

Property features AI

Finance

• Other: Lot dimensions approximately 125 x 50 (0.14 acres); Neighborhood: HIGHLAND BILTMORE
• HOA & community: No HOA fees

Exterior

• Parking: Attached 1-car garage; Additional 2 spaces; Driveway parking; Garage approximately 210 sq ft
• Utilities: City/County water; City/County sewer; Electric power
• Home design: Detached transitional-style home; Two stories; Crawl foundation
• Construction: Vinyl siding; Asphalt shingle roof
• Exterior features: Deck; Privacy fence

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Electric range; Refrigerator; Pantry; Breakfast area
• Bedrooms: One bedroom with ensuite
• Flooring: Carpet; Laminate
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Electric heating (forced hot air); Heat pump; Central air
• Interior features: Ceiling fan; Scuttle access; Walk-in closet
• Laundry & utility: Washer; Dryer; Utility room; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $370k.

Deal economics

• At list price, monthly cash flow is $-543 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $274k (25.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $243k (34.4% below list).
• Recommended offer: $243k (34.4% 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: Victory Elementary (math 37% / reading 57%, grade D-, #794 of 1,108 statewide, top 74%, 589 students, 117% 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 105% FRL vs 60% district-wide (45 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+4.0%/yr); 65 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 300 units permitted in Portsmouth city in 2024 (112 in 5+ unit buildings).
• At $2,428/mo this rent would consume 60% 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 $40k of equity ($3k loan paydown + $37k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$64k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.
• Current owner paid $290k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $242,758 (34.4% 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: 4.53%
• Cash-on-cash: -6.29%
• DSCR: 0.72
• GRM: 12.7

CMA / ARV

• ARV (on-the-fly): $373,584
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 Appomattox Ave	0.00mi	4/2.5	2,172 (0%)	1mo	$375,000	$173	99
316 Wall St	0.51mi	4/2.5	2,205 (+2%)	1mo	$350,000	$159	73
502 Beacon Rd	0.47mi	4/2.5	2,116 (-3%)	2mo	$365,000	$172	72
3906 Deep Creek Blvd	0.19mi	4/2.5	1,900 (-12%)	2mo	$288,700	$152	69
248 Harmony Dr	0.52mi	4/2.5	2,112 (-3%)	3mo	$364,000	$172	69
123 Good Hope Ln	0.60mi	4/2.5	2,240 (+3%)	2mo	$380,000	$170	65
420 Forecastle St	0.53mi	5/2.5 (+1)	2,203 (+1%)	4mo	$356,000	$162	65
203 Woodstock St	0.66mi	4/3.0	2,100 (-3%)	2mo	$355,000	$169	60
3405 Woodstock St	0.61mi	5/3.0 (+1)	2,247 (+4%)	0mo	$398,900	$178	59
115 Wall St	0.63mi	4/2.5	2,000 (-8%)	3mo	$349,900	$175	55
120 Truxton Ave	0.65mi	4/2.5	1,983 (-9%)	1mo	$350,000	$177	55
209 Truxton Ave	0.61mi	4/2.5	2,462 (+13%)	2mo	$337,000	$137	48

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: 20.1%
• Equity multiple: 2.63×
• Total profit: $169,248
• Equity at exit: $333,235

10-year hold

• IRR: 18.5%
• Equity multiple: 6.12×
• Total profit: $530,607
• Equity at exit: $718,634

Cash invested: $103,572 (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: $2,428 high
• Mortgage (P&I): −$1,940
• Tax from tax record: −$367 /mo · $4,402/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$510
• Net cashflow: $-543

Break-even live

Break-even rent $3,115

Max offer price $273,990

Occupancy floor —

Sensitivity live

Price	-10% $-334	-5% $-438	+0% $-543	+5% $-648	+10% $-752
Rent	-10% $-735	-5% $-639	+0% $-543	+5% $-447	+10% $-351
Rate	-1.0pp $-357	-0.5pp $-449	base $-543	+0.5pp $-639	+1.0pp $-736

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: $92,475
• Closing costs: $11,097
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35 Fairview Cir S Portsmouth, VA	4.0	1.5	1462	$2,100	$1.44	14d	1	0.22mi
134 Monmouth St Portsmouth, VA	3.0	2.5	1440	$2,450	$1.70	45d	1	0.56mi
213 Monmouth St Portsmouth, VA	3.0	2.5	1800	$2,450	$1.36	46d	1	0.64mi
10 Parkside Pl Portsmouth, VA	3.0	2.0	1800	$2,095	$1.16	19d	1	0.71mi
207 Falcon Ave Portsmouth, VA	3.0	2.5	1720	$3,000	$1.74	45d	1	0.85mi
528 Normandy St Portsmouth, VA	3.0	2.5	2262	$2,800	$1.24	25d	1	0.85mi
2509 Smithfield Rd Portsmouth, VA	3.0	2.5	1540	$2,345	$1.52	23d	1	0.93mi
22 Radford St Portsmouth, VA	4.0	3.0	1651	$2,550	$1.54	5d	1	0.95mi
1409 Wilcox Ave Portsmouth, VA	3.0	2.5	1800	$2,500	$1.39	45d	1	1.19mi
108 Marcy St Portsmouth, VA	4.0	2.5	2100	$2,500	$1.19	45d	1	1.20mi
2117 Battery Park Rd Chesapeake, VA	5.0	3.0	2500	$3,500	$1.40	25d	1	1.38mi
203 Median Cir Portsmouth, VA	4.0	2.5	2200	$2,195	$1.00	25d	1	1.42mi
3401 Brighton St Portsmouth, VA	3.0	2.5	1439	$2,195	$1.53	5d	1	1.42mi
2215 Atlanta Ave Portsmouth, VA	4.0	1.0	1628	$2,150	$1.32	9d	1	1.46mi
521 Weaver Cir Portsmouth, VA	4.0	2.0	1890	$2,125	$1.12	45d	1	1.46mi

Listing history 14 events

1. 2026-05-18
   status Under Contract
2. 2026-05-11
   historical Active Under Contract
3. 2026-05-08
   listed $369,900 Active
4. 2021-03-05
   soldstatus $290,000
5. 2021-03-05
   soldstatus $290,000
6. 2021-01-26
   status Under Contract
7. 2021-01-18
   historical Active Under Contract
8. 2021-01-14
   listed $285,000 Active
9. 2017-06-19
   status Under Contract
10. 2017-05-04
    listed $235,000 Active
11. 2017-02-23
    price $28,000
12. 2017-02-20
    status Under Contract
13. 2016-09-29
    listed $65,000 Active
14. 2004-02-13
    soldstatus $64,000

ⓘ 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: $4,402 · $367/mo
• Projected year-2 tax: $4,402 · $367/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: $29,131
• − Mortgage interest: −$20,720
• − Property taxes: −$4,402
• − Insurance: −$1,850
• − Repairs & maintenance: −$2,330
• − Management: −$2,330
• − Depreciation: −$10,761
• Taxable loss: −$13,262
• Est. tax savings @ 24.0%: +$3,183
• After-tax cash flow: $-3,332/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

+478.0% since first listed

14 events — show timeline

• 2026-05-18 Pending — REINMLS
• 2026-05-11 Contingent — REINMLS
• 2026-05-08 Listed $369,900 REINMLS
• 2021-03-05 Sold (Public Records) $290,000 Public Records
• 2021-03-05 Sold (Public Records) $290,000 Public Records
• 2021-01-26 Pending — REINMLS
• 2021-01-18 Contingent — REINMLS
• 2021-01-14 Listed $285,000 REINMLS
• 2017-06-19 Pending — REINMLS
• 2017-05-04 Listed $235,000 REINMLS
• 2017-02-23 Price Changed $28,000 REINMLS
• 2017-02-20 Pending — REINMLS
• 2016-09-29 Listed $65,000 REINMLS
• 2004-02-13 Sold (Public Records) $64,000 Public Records

Property tax history

+10.0%/yr

Latest (2025): $4,402 · +3.3% YoY. Source: county tax records.