1407 Ekstine Dr · Portsmouth, VA 23701

$175,000

3 bd · 1.0 ba · 1,225 sqft · SingleFamily public records · 1 Days on market

Built 1961 8,276 sqft lot Est $263k · 34% 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 +24.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +6.3/10.0
• 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

SOME UPGRADES NEEDED, GREAT LOCATION AND ALL-BRICK RANCH. GREAT RENTAL PROPERTY OR FIRST-TIME HOME BUYER.

Key facts

• 8,276 sq ft lot
• 2 parking spots
• Built 1961

Property features AI

Finance

• Other: Lot approximately 0.19 acres (110 x 76)
• HOA & community: No HOA fees reported

Exterior

• Parking: Driveway parking; Street parking (2 spaces listed)
• Utilities: City water; City sewer; Gas water heater; Electric power (standard)
• Home design: Detached ranch-style home; Single-story with one living level; Faces city
• Construction: Asphalt shingle roof; Crawlspace foundation
• Exterior features: Brick siding; Storage shed; City view; Fixer upper

Interior

• Kitchen: Dishwasher; Gas range; Microwave
• Bedrooms: Master bedroom on the first floor; First-floor bedroom with full bathroom
• Flooring: Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Primary double sink; Wood flooring
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Cap rate 8.7% 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); William E. Waters Middle (math 47% / reading 72%, grade B, #160 of 342 statewide, top 48%, 534 students, 99% 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); 170 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 38% 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 $49k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

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 $175,000

Questions for the listing agent

1. Built in 1961 — 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: 1.13% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.57%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $263,375
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
909 Ellington Sq	0.24mi	3/1.0	1,275 (+4%)	3mo	$247,900	$194	79
405 Truman Cir	0.32mi	3/2.0	1,200 (-2%)	2mo	$269,000	$224	76
641 Mclean St	0.57mi	3/1.5	1,214 (-1%)	3mo	$266,500	$220	68
1003 Warfield Dr	0.40mi	3/1.0	1,305 (+6%)	4mo	$175,069	$134	67
308 Taft Dr	0.63mi	3/2.0	1,235 (+1%)	6mo	$266,000	$215	61
809 Dorset Ave	0.56mi	4/1.5 (+1)	1,205 (-2%)	5mo	$250,000	$207	60
303 Bunche Blvd	0.44mi	4/2.0 (+1)	1,300 (+6%)	0mo	$271,500	$209	60
314 Avondale Rd	0.52mi	3/2.0	1,100 (-10%)	0mo	$266,000	$242	54
167 Allard Rd	0.63mi	3/1.0	1,127 (-8%)	5mo	$176,000	$156	53
903 Ellington Sq	0.22mi	4/2.0 (+1)	1,400 (+14%)	6mo	$312,500	$223	52
1157 Carrington Cres N	0.65mi	2/1.0 (-1)	1,125 (-8%)	1mo	$166,250	$148	51
1245 Sir Kay Dr	0.74mi	4/2.0 (+1)	1,295 (+6%)	1mo	$360,000	$278	46

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: 2.2%
• Equity multiple: 1.09×
• Total profit: $4,361
• Equity at exit: $26,093

10-year hold

• IRR: 16.2%
• Equity multiple: 2.63×
• Total profit: $79,996
• Equity at exit: $15,131

Cash invested: $49,000 (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 23701

• Rents YoY: 11.9%
• Active inventory: 170
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,971 high
• Mortgage (P&I): −$918
• Tax from tax record: −$216 /mo · $2,597/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $350

Break-even live

Break-even rent $1,528

Max offer price $175,000

Occupancy floor 77%

Sensitivity live

Price	-10% $449	-5% $399	+0% $350	+5% $300	+10% $251
Rent	-10% $194	-5% $272	+0% $350	+5% $428	+10% $505
Rate	-1.0pp $438	-0.5pp $394	base $350	+0.5pp $304	+1.0pp $258

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
705 Warfield Dr Portsmouth, VA	3.0	1.5	1269	$2,100	$1.65	19d	1	0.32mi
902 Liston Ln Portsmouth, VA	3.0	1.0	1039	$1,785	$1.72	25d	1	0.36mi
4642 Greenwood Dr Portsmouth, VA	2.0	1.0	946	$1,550	$1.64	45d	1	0.87mi
98 Francis St Portsmouth, VA	2.0	2.0	984	$1,395	$1.42	16d	1	0.95mi
102 Francis St #98 Portsmouth, VA	2.0	1.5	1000	$1,395	$1.40	18d	1	0.96mi
1217 Lakeview Dr Portsmouth, VA	4.0	2.0	1425	$2,550	$1.79	9d	1	1.03mi
200 Chowan Dr Portsmouth, VA	1.0–2.0	1.0–2.0	737	$1,600	$2.17	4d	8	1.15mi
846 Drawbridge Dr Chesapeake, VA	3.0	2.0	1400	$2,600	$1.86	25d	1	1.20mi
3208 Sir Meliot Dr Chesapeake, VA	3.0	2.0	1400	$2,295	$1.64	25d	1	1.32mi
840 Lancer Dr Unit 694 Portsmouth, VA	3.0	1.5	1202	$1,480	$1.23	19d	1	1.36mi
840 Lancer Dr Unit 615 Portsmouth, VA	2.0	1.5	1002	$1,288	$1.29	25d	1	1.36mi
1114 Woodland Terrace Dr Chesapeake, VA	3.0	1.0	1223	$2,000	$1.64	25d	1	1.39mi
35 Fairview Cir S Portsmouth, VA	4.0	1.5	1462	$2,100	$1.44	14d	1	1.46mi
251 Independence St Portsmouth, VA	3.0	2.5	1294	$2,550	$1.97	25d	1	1.49mi
2750 Greenwood Dr Portsmouth, VA	3.0	2.0	1200	$1,700	$1.42	25d	1	1.49mi

Listing history 2 events

1. 2026-06-13
   remarks 105-char remark
2. 2026-06-13
   listed $175,000 Under Contract 1 DOM

ⓘ 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: $2,597 · $216/mo
• Projected year-2 tax: $2,597 · $216/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 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,648
• − Mortgage interest: −$9,803
• − Property taxes: −$2,597
• − Insurance: −$875
• − Repairs & maintenance: −$1,892
• − Management: −$1,892
• − Depreciation: −$5,091
• Taxable income: $1,498
• Est. tax owed @ 24.0%: −$360
• After-tax cash flow: $3,837/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

2 events — show timeline

• 2026-06-12 Pending — REINMLS
• 2026-06-09 Listed $175,000 REINMLS

Property tax history

+3.5%/yr

Latest (2025): $2,597 · +2.2% YoY. Source: county tax records.