3503 Commonwealth Ave · Portsmouth, VA 23707

$199,900

3 bd · 1.0 ba · 900 sqft · SingleFamily public records · 18 Days on market

Built 1942 4,791 sqft lot $222/sqft · at area comps Est $244k · 18% under ↓ 7% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +10.2/30.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• DSCR +2.9/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy this beautiful and well-maintained home offering comfort, charm, and convenience in the heart of Portsmouth. This inviting residence features a functional layout with bright living spaces and comfortable bedrooms, providing the perfect setting for everyday living. The spacious yard offers ample room for outdoor enjoyment, entertaining, or future enhancements. Ideally located just minutes from major highways, including I-264, making commuting to Norfolk, Chesapeake, and Virginia Beach effortless, and conveniently close to shopping, dining, and local schools. Don’t miss this exceptional opportunity to own a move-in-ready home in a centrally located and established neighborhood. Sc

Key facts

• Spacious yard
• Move-in-ready
• Outdoor enjoyment

Tags

• FUNCTIONAL LAYOUT
• SPACIOUS YARD
• OUTDOOR ENJOYMENT
• MOVE-IN-READY
• ESTABLISHED NEIGHBORHOOD

Property features AI

Finance

• HOA & community: No HOA/POA fees listed

Exterior

• Parking: Driveway parking for 2 vehicles
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Detached Cape Cod; 2 stories; Simple ownership; Crawl foundation
• Construction: Asphalt shingle roof
• Exterior features: Vinyl siding; Back fenced yard; Ocean waterfront

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Master bedroom; Additional bedroom; No bedroom with full bath on first floor
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; Full bathroom (additional room listed)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Carpet and vinyl flooring; Assigned storage
• Laundry & utility: Washer hookup; Dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-114 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (10.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (24.4% below list).
• Recommended offer: $151k (24.4% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 4.6% in Portsmouth — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Westhaven Elementary (math 22% / reading 52%, grade F, #933 of 1,108 statewide, top 86%, 442 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: 86 active listings in the ZIP; 20 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).
• This rent runs 37% of the median local income ($49k/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 $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $151,029 (24.4% 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. Built in 1942 — 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. 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?
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: 0.76% ✗
• Cap rate: 5.61%
• Cash-on-cash: -2.44%
• DSCR: 0.89
• GRM: 11.0

CMA / ARV

• ARV (median comp): $243,798
• List price: $199,900
• Delta: -14.27%
• 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
24 Neville St	0.42mi	3/1.0	946 (+5%)	6mo	$238,900	$253	67
3210 Brighton St	0.30mi	4/1.0 (+1)	1,005 (+12%)	1mo	$211,000	$210	61
109 Woodstock St	0.57mi	3/1.0	960 (+7%)	3mo	$220,000	$229	59
4103 Scott St	0.57mi	3/1.0	960 (+7%)	5mo	$240,000	$250	58
521 Beacon Rd	0.74mi	3/1.0	864 (-4%)	1mo	$135,000	$156	58
312 Killian Ave	0.54mi	3/1.0	992 (+10%)	2mo	$255,000	$257	56
4109 Arlington Pl	0.55mi	2/1.0 (-1)	962 (+7%)	8mo	$225,000	$234	51
1012 Rodman Ave	0.51mi	3/1.0	1,003 (+11%)	8mo	$199,990	$199	50
9 Shelby St	0.49mi	3/2.0	1,028 (+14%)	2mo	$239,000	$232	48
3521 County St	0.68mi	3/1.0	1,020 (+13%)	2mo	$227,000	$223	45
505 Howard St	0.68mi	3/2.0	1,003 (+11%)	2mo	$254,000	$253	43
3312 Knox St	0.70mi	2/1.0 (-1)	770 (-14%)	5mo	$210,000	$273	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: -20.4%
• Equity multiple: 0.29×
• Total profit: $-39,676
• Equity at exit: $29,806

10-year hold

• IRR: -13.5%
• Equity multiple: 0.21×
• Total profit: $-43,990
• Equity at exit: $17,284

Cash invested: $55,972 (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: 86
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,510 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$176 /mo · $2,106/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $-114

Break-even live

Break-even rent $1,655

Max offer price $179,763

Occupancy floor —

Sensitivity live

Price	-10% $-1	-5% $-57	+0% $-114	+5% $-171	+10% $-227
Rent	-10% $-233	-5% $-174	+0% $-114	+5% $-54	+10% $5
Rate	-1.0pp $-13	-0.5pp $-63	base $-114	+0.5pp $-166	+1.0pp $-218

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
49 Carver Cir Portsmouth, VA	2.0	2.0	800	$1,450	$1.81	25d	1	0.53mi
1 Shelby St Portsmouth, VA	2.0	1.0	700	$1,250	$1.79	25d	1	0.53mi
3626 Bart St Unit BAR3626-DF Portsmouth, VA	2.0	1.0	900	$1,000	$1.11	9d	1	0.54mi
11 Carver Cir Portsmouth, VA	2.0	1.0	695	$1,395	$2.01	45d	1	0.58mi
3304 Killian Ave Portsmouth, VA	3.0	1.0	800	$2,000	$2.50	25d	1	0.70mi
70 Manly St Portsmouth, VA	2.0	1.0	1000	$1,350	$1.35	45d	1	0.87mi
3310 Glasgow St Portsmouth, VA	2.0	1.0	1100	$1,600	$1.45	5d	1	0.93mi
13 Hedge Ln Unit I Portsmouth, VA	2.0	1.5	816	$1,275	$1.56	9d	1	1.08mi
21 DeKalb Ave Portsmouth, VA	2.0	1.0	984	$1,550	$1.58	45d	1	1.26mi
3724 Deep Creek Blvd Unit 3728 Portsmouth, VA	2.0	1.0	900	$995	$1.11	25d	1	1.27mi
3724 Deep Creek Blvd Unit 3754 Portsmouth, VA	2.0	1.0	900	$995	$1.11	14d	1	1.27mi
2810 Roanoke Ave Portsmouth, VA	3.0	1.5	1100	$2,100	$1.91	45d	1	1.33mi
231 Edison Ave Portsmouth, VA	2.0	1.5	1100	$1,275	$1.16	21d	1	1.37mi
231 Edison Ave Unit 231 Portsmouth, VA	2.0	1.5	1050	$1,275	$1.21	12d	1	1.37mi
200 Chowan Dr Portsmouth, VA	1.0–2.0	1.0–2.0	737	$1,600	$2.17	4d	8	1.37mi
124 Tyler Cres E Unit B Portsmouth, VA	2.0	1.0	1000	$1,195	$1.20	25d	1	1.40mi
26 Byers Ave Portsmouth, VA	2.0	1.0	1008	$1,575	$1.56	45d	1	1.42mi
1915 Des Moines Ave Portsmouth, VA	3.0	1.0	1070	$1,700	$1.59	25d	1	1.47mi
1915 Des Moines Ave Portsmouth, VA	3.0	1.0	1070	$1,700	$1.59	18d	1	1.47mi
647 Mount Vernon Ave Unit B Portsmouth, VA	2.0	1.0	900	$1,650	$1.83	9d	1	1.49mi

Listing history 17 events

1. 2026-06-21
   days on market $199,900 Active 18 DOM
2. 2026-06-18
   days on market $199,900 Active 15 DOM
3. 2026-06-17
   days on market $199,900 Active 14 DOM
4. 2026-06-16
   days on market $199,900 Active 13 DOM
5. 2026-06-15
   days on market $199,900 Active 12 DOM
6. 2026-06-13
   days on market $199,900 Active 10 DOM
7. 2026-06-09
   days on market $199,900 Active 6 DOM
8. 2026-06-08
   days on market $199,900 Active 5 DOM
9. 2026-06-07
   pricedays on marketlisting id $199,900 Active 4 DOM
10. 2026-06-03
    days on market $209,000 Active 58 DOM
11. 2026-06-02
    days on market $209,000 Active 57 DOM
12. 2026-06-01
    days on market $209,000 Active 56 DOM
13. 2026-05-31
    days on market $209,000 Active 55 DOM
14. 2026-05-08
    status Active 842-char remark
15. 2026-03-24
    status Under Contract 842-char remark
16. 2026-03-13
    price $209,000 842-char remark
17. 2026-02-19
    listed $214,000 Active 842-char remark

ⓘ 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: $2,106 · $176/mo
• Projected year-2 tax: $2,106 · $176/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 6/10 Major FEMA zone X (unshaded) · 70% 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: $18,123
• − Mortgage interest: −$11,198
• − Property taxes: −$2,106
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,450
• − Management: −$1,450
• − Depreciation: −$5,815
• Taxable loss: −$4,895
• Est. tax savings @ 24.0%: +$1,175
• After-tax cash flow: $-193/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

-6.6% since first listed

6 events — show timeline

• 2026-06-03 Listed $199,900 REINMLS
• 2026-06-03 Listing Removed — REINMLS
• 2026-05-08 Relisted — REINMLS
• 2026-03-24 Pending — REINMLS
• 2026-03-13 Price Changed $209,000 REINMLS
• 2026-02-19 Listed $214,000 REINMLS

Property tax history

+3.3%/yr

Latest (2025): $2,106 · +2.0% YoY. Source: county tax records.