913 Halifax Ave · Portsmouth, VA 23707

$190,000

3 bd · 1.0 ba · 1,739 sqft · SingleFamily · 84 Days on market

Built 1952 0.38 ac lot $109/sqft · 32% below area Est $280k · 32% under

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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 +18.9/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor alert - this is the opportunity you've been waiting for! Unlock the potential of this distressed, strictly as-is property priced with profit in mind. This classic fixer-upper is ready for a full renovation, making it a great project for savvy investors, flippers, or buyers looking to build serious equity. Whether you're planning a fix-and-flip or a long-term rental, the upside here is strong for the right buyer with vision. This property offers both convenience and long-term value. Cash or rehab financing only. Bring your contractor, your ideas, and turn this into your next success story.

Key facts

• 0.38 acre lot
• Built 1952
• Listed 84 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $194 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $179k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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: 84 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 300 units permitted in Portsmouth city in 2024 (112 in 5+ unit buildings).
• At $1,908/mo this rent would consume 47% of the median local household income ($49k/yr) (locally 963% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 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 $147k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $178,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.00% ✓
• Cap rate: 7.52%
• Cash-on-cash: 4.38%
• DSCR: 1.19
• GRM: 8.3

CMA / ARV

• ARV (median comp): $280,139
• List price: $190,000
• Delta: -32.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3501 South St	0.06mi	4/2.0 (+1)	1,800 (+4%)	2mo	$287,400	$160	80
3602 Columbia St	0.10mi	4/2.0 (+1)	1,677 (-4%)	4mo	$320,000	$191	77
1440 Mt Vernon Ave	0.45mi	3/2.5	1,700 (-2%)	4mo	$299,900	$176	66
3608 Clifford St	0.07mi	4/2.0 (+1)	1,979 (+14%)	4mo	$315,000	$159	61
4021 Dartmouth St	0.48mi	3/2.0	1,600 (-8%)	3mo	$320,000	$200	58
1370 Wool Ave	0.59mi	3/2.5	1,659 (-5%)	2mo	$305,000	$184	57
600 Phillips Ave	0.66mi	3/2.0	1,644 (-6%)	1mo	$270,500	$165	55
519 Riverside Dr	0.75mi	3/2.0	1,678 (-4%)	4mo	$362,000	$216	52
4013 Greenway Ct W	0.62mi	3/1.0	1,533 (-12%)	2mo	$275,000	$179	50
954 Florida Ave	0.67mi	3/2.0	1,550 (-11%)	1mo	$275,000	$177	46
739 Lanier Cres	0.73mi	3/1.5	1,512 (-13%)	3mo	$275,000	$182	40
289 Choate St	0.72mi	4/2.0 (+1)	1,500 (-14%)	1mo	$303,000	$202	34

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.4%
• Equity multiple: 0.65×
• Total profit: $-18,394
• Equity at exit: $28,330

10-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $22
• Equity at exit: $16,428

Cash invested: $53,200 (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 23707

• Home prices YoY: -23.7%
• Active inventory: 84
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,908 high
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$238 /mo · $2,850/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $194

Break-even live

Break-even rent $1,662

Max offer price $190,000

Occupancy floor 85%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3607 Bart St Portsmouth, VA	3.0	2.0	1326	$1,850	$1.40	10d	1	0.06mi
3717 Scott St Portsmouth, VA	3.0	1.0	1157	$1,400	$1.21	23d	1	0.29mi
3401 Brighton St Portsmouth, VA	3.0	2.5	1439	$2,195	$1.53	3d	1	0.38mi
3310 Glasgow St Portsmouth, VA	2.0	1.0	1100	$1,600	$1.45	3d	1	0.43mi
300 Russell St Portsmouth, VA	3.0	1.5	1534	$2,250	$1.47	23d	1	0.46mi
4205 Dartmouth St Portsmouth, VA	4.0	3.5	2100	$2,400	$1.14	17d	1	0.60mi
3817 High St Portsmouth, VA	3.0	2.0	1999	$2,300	$1.15	10d	1	0.79mi
821 Mt Vernon Ave Unit A Portsmouth, VA	2.0	1.0	1200	$1,250	$1.04	3d	1	0.86mi
3509 Floyd St Portsmouth, VA	4.0	2.5	1670	$2,400	$1.44	2d	1	0.87mi
22 Radford St Portsmouth, VA	4.0	3.0	1651	$2,550	$1.54	3d	1	0.90mi
3317 Downes St Portsmouth, VA	3.0	2.0	1148	$1,995	$1.74	10d	1	1.16mi
3317 Downes St Portsmouth, VA	3.0	2.0	1148	$1,995	$1.74	3d	1	1.16mi
509 Mount Vernon Ave Portsmouth, VA	3.0	1.5	1125	$1,250	$1.11	21d	1	1.18mi
2211 North St Portsmouth, VA	4.0	1.5	1500	$2,100	$1.40	16d	1	1.18mi
507 Broad St Unit 507 Portsmouth, VA	3.0	1.5	1700	$1,350	$0.79	43d	1	1.22mi
430 Mt Vernon Ave Portsmouth, VA	3.0	2.0	2179	$2,100	$0.96	43d	1	1.23mi
2715 Portsmouth Blvd Portsmouth, VA	2.0	1.0	1428	$1,425	$1.00	14d	1	1.26mi
2715 Portsmouth Blvd Portsmouth, VA	2.0	1.0	1428	$1,425	$1.00	17d	1	1.26mi
1914 King St Portsmouth, VA	3.0	2.5	1332	$2,200	$1.65	44d	1	1.28mi
416 Maryland Ave Unit A Portsmouth, VA	3.0	2.0	1450	$2,300	$1.59	43d	1	1.33mi
2304 Nashville Ave Portsmouth, VA	3.0	1.5	1226	$1,395	$1.14	43d	1	1.40mi
259 Broad St Unit 3 Portsmouth, VA	3.0	1.0	1200	$1,550	$1.29	10d	1	1.45mi
259 Broad St Portsmouth, VA	3.0	1.0	1200	$1,475	$1.23	3d	1	1.45mi
213 Beacon Rd Portsmouth, VA	3.0	2.0	1280	$2,300	$1.80	23d	1	1.46mi
258 Maryland Ave Unit 2 Portsmouth, VA	4.0	2.0	1650	$1,950	$1.18	10d	1	1.47mi
258 Maryland Ave Unit 1 Portsmouth, VA	3.0	2.0	1600	$1,850	$1.16	10d	1	1.47mi
112 Idlewood Ave Portsmouth, VA	3.0	2.0	1508	$2,200	$1.46	43d	1	1.50mi

Listing history 22 events

1. 2026-06-18
   days on market $190,000 Active 84 DOM
2. 2026-06-17
   days on market $190,000 Active 83 DOM
3. 2026-06-16
   days on market $190,000 Active 82 DOM
4. 2026-06-15
   days on market $190,000 Active 81 DOM
5. 2026-06-13
   days on market $190,000 Active 79 DOM
6. 2026-06-09
   days on market $190,000 Active 75 DOM
7. 2026-06-08
   days on market $190,000 Active 74 DOM
8. 2026-06-07
   days on market $190,000 Active 73 DOM
9. 2026-06-03
   days on market $190,000 Active 69 DOM
10. 2026-06-02
    days on market $190,000 Active 68 DOM
11. 2026-06-01
    days on market $190,000 Active 67 DOM
12. 2026-05-31
    days on market $190,000 Active 66 DOM
13. 2026-03-26
    listed $190,000 Active 608-char remark

    Show marketing remark (608 chars)

    Investor alert - this is the opportunity you've been waiting for! Unlock the potential of this distressed, strictly as-is property priced with profit in mind. This classic fixer-upper is ready for a full renovation, making it a great project for savvy investors, flippers, or buyers looking to build serious equity. Whether you're planning a fix-and-flip or a long-term rental, the upside here is strong for the right buyer with vision. This property offers both convenience and long-term value. Cash or rehab financing only. Bring your contractor, your ideas, and turn this into your next success story.

14. 2025-08-22
    soldstatus $146,832 Sold 142-char remark

    Show marketing remark (142 chars)

    Don't miss out on this investment opportunity! 3 bedrooms, 1 bath on a corner lot. Tons of possibilities! Don't wait, this will not last long!

15. 2025-08-12
    status Under Contract 142-char remark

    Show marketing remark (142 chars)

    Don't miss out on this investment opportunity! 3 bedrooms, 1 bath on a corner lot. Tons of possibilities! Don't wait, this will not last long!

16. 2025-08-07
    listed $99,000 Active 142-char remark

    Show marketing remark (142 chars)

    Don't miss out on this investment opportunity! 3 bedrooms, 1 bath on a corner lot. Tons of possibilities! Don't wait, this will not last long!

17. 2018-05-26
    status Under Contract
18. 2018-04-21
    price $144,900
19. 2018-03-19
    listed $150,000 Active
20. 2017-01-20
    historical
21. 2016-10-17
    price $149,900
22. 2016-09-19
    listed $155,000 Active

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

Taxation est. · year 1

• Rental income: $22,894
• − Mortgage interest: −$10,643
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$1,832
• − Management: −$1,832
• − Depreciation: −$5,527
• Taxable loss: −$739
• Est. tax savings @ 24.0%: +$177
• After-tax cash flow: $2,507/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): 14,766
• Household income: $48,926
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 963.0

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 0.64)
• Race & ethnicity: White 43% Black 41% Two or more races 9% Hispanic / Latino 3% Asian 3%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Tagalog/Filipino 1% Chinese 1%

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: ▼ -93.03%
• Current HPI: 299.832
• Rent YoY: —
• 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

+22.6% since first listed

10 events — show timeline

• 2026-03-26 Listed $190,000 REINMLS
• 2025-08-22 Sold (MLS) $146,832 REINMLS
• 2025-08-12 Pending — REINMLS
• 2025-08-07 Listed $99,000 REINMLS
• 2018-05-26 Pending — REINMLS
• 2018-04-21 Price Changed $144,900 REINMLS
• 2018-03-19 Listed $150,000 REINMLS
• 2017-01-20 Listing Removed — REINMLS
• 2016-10-17 Price Changed $149,900 REINMLS
• 2016-09-19 Listed $155,000 REINMLS