2222 Pearl St · Portsmouth, VA 23704

$99,000

3 bd · 2.0 ba · 1,288 sqft · SingleFamily public records · 26 Days on market

Built 1920 5,227 sqft lot $77/sqft · 59% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover this charming three-bedroom, two-bath Traditional home situated on a spacious corner lot. Enjoy the convenience of a side-load rear driveway and a welcoming covered front porch. The first floor features a comfortable bedroom and an updated bathroom with a stylish tile-floor and shower. The eat-in kitchen is appointed with modern cabinets and beautiful butcher block countertops—adjacent to the Great Room which is perfect for entertaining and everyday living. Upstairs, you'll find two additional bedrooms and a updated bathroom, complete with elegant tile flooring and accent tile above the tub. Central air and heat provide year-round comfort. This home is ideally located just mi

Key facts

• 5,227 sq ft lot
• Built 1920
• Listed 26 days

Property features AI

Finance

• HOA & community: No HOA fees reported

Exterior

• Parking: Driveway parking; Street parking
• Utilities: City/county water; City/county sewer; Electric water heater
• Home design: Detached traditional home; 2 stories; Crawlspace foundation; Simple ownership
• Construction: Vinyl siding; Asphalt shingle roof
• Exterior features: Corner lot; Lot dimensions approximately 51 x 105 (0.12 acres)

Interior

• Kitchen: Kitchen; Breakfast area
• Bedrooms: Master bedroom (2nd floor); Bedroom with full bathroom on 1st floor; Additional bedroom (1st floor)
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Carpet flooring; Porch; Breakfast area; Utility closet; Fixer upper
• Laundry & utility: Washer hookup; Dryer hookup; Utility room (2nd floor)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $272 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.8% 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: Brighton Elementary (math 12% / reading 32%, grade F, #1,069 of 1,108 statewide, top 97%, 411 students, 97% FRL) — zoned schools average 97% FRL vs 60% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 46% district-wide (-24 pts) — the specific schools serving this property underperform the Portsmouth City Public School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.3%/yr); 131 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 45% of the median local income ($50k/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 $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y 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

• Watch-outs: property tax is 2.5% of price; flood insurance adds $427/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $97,515 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.87% ✓
• Cap rate: 14.76%
• Cash-on-cash: 30.23%
• DSCR: 2.35
• GRM: 4.4

CMA / ARV

• ARV (median comp): $244,004
• List price: $99,000
• Delta: -59.43%
• 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
1902 Camden Ave	0.23mi	3/2.0	1,290 (+0%)	1mo	$219,000	$170	88
2103 Elm Ave	0.10mi	4/2.5 (+1)	1,320 (+2%)	1mo	$200,000	$152	84
2008 Elm Ave	0.15mi	4/2.0 (+1)	1,260 (-2%)	2mo	$260,000	$206	83
918 Centre Ave	0.34mi	3/2.0	1,330 (+3%)	1mo	$297,000	$223	78
1918 Prentis Ave	0.15mi	3/1.5	1,380 (+7%)	2mo	$246,500	$179	77
1803 Lansing Ave	0.43mi	3/2.0	1,312 (+2%)	2mo	$270,000	$206	75
1915 Prentis Ave	0.15mi	3/1.0	1,120 (-13%)	1mo	$163,000	$146	67
564 Portsmouth Blvd	0.61mi	3/2.0	1,220 (-5%)	0mo	$189,000	$155	63
2214 Deep Creek Blvd	0.64mi	3/2.5	1,205 (-6%)	1mo	$272,000	$226	57
1506 Camden Ave	0.40mi	2/1.0 (-1)	1,138 (-12%)	1mo	$235,000	$207	52
2711 Evergreen Pl	0.65mi	3/2.0	1,100 (-15%)	2mo	$278,000	$253	44
1930 Nashville Ave	0.75mi	2/2.0 (-1)	1,422 (+10%)	0mo	$273,000	$192	42

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 · 3.31% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.08×
• Total profit: $2,192
• Equity at exit: $14,761

10-year hold

• IRR: 12.3%
• Equity multiple: 2.01×
• Total profit: $27,985
• Equity at exit: $8,560

Cash invested: $27,720 (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 23704

• Home prices YoY: -4.6%
• Rents YoY: 3.3%
• Active inventory: 131
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,856 high
• Mortgage (P&I): −$519
• Tax from tax record: −$207 /mo · $2,488/yr
• Insurance: −$41
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $272

Break-even live

Break-even rent $1,512

Max offer price $99,000

Occupancy floor 80%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2007 Elm Ave Portsmouth, VA	3.0	1.0	903	$1,300	$1.44	20d	1	0.11mi
2215 Atlanta Ave Portsmouth, VA	4.0	1.0	1628	$2,150	$1.32	7d	1	0.16mi
2111 Atlanta Ave Portsmouth, VA	3.0	2.0	1418	$2,395	$1.69	43d	1	0.17mi
818 Coolidge St Portsmouth, VA	2.0	1.0	1230	$2,100	$1.71	43d	1	0.24mi
1802 Atlanta Ave Unit 2 Portsmouth, VA	2.0	1.0	1200	$1,500	$1.25	23d	1	0.29mi
2756 Peach St Portsmouth, VA	2.0	1.5	1040	$1,495	$1.44	23d	1	0.29mi
1314 Summit Ave Portsmouth, VA	3.0	1.5	1152	$1,750	$1.52	43d	1	0.35mi
1915 Lansing Ave Portsmouth, VA	3.0	1.0	1085	$1,675	$1.54	3d	1	0.38mi
2906 Chestnut St Unit 1328007P Portsmouth, VA	2.0	1.0	947	$4,650	$4.91	7d	1	0.41mi
1440 Lasalle Ave Portsmouth, VA	4.0	2.0	1493	$2,500	$1.67	23d	1	0.41mi
1915 Des Moines Ave Portsmouth, VA	3.0	1.0	1070	$1,700	$1.59	16d	1	0.43mi
1915 Des Moines Ave Portsmouth, VA	3.0	1.0	1070	$1,700	$1.59	23d	1	0.43mi
1508 Richmond Ave Portsmouth, VA	4.0	2.0	1600	$2,000	$1.25	3d	1	0.45mi
1409 Wilcox Ave Portsmouth, VA	3.0	2.5	1800	$2,500	$1.39	43d	1	0.46mi
1416 Richmond Ave Portsmouth, VA	2.0	1.0	1024	$1,150	$1.12	43d	1	0.51mi
548 Madison St Portsmouth, VA	2.0	1.0	900	$1,349	$1.50	16d	3	0.57mi
548 Madison St Unit 542-21-C Portsmouth, VA	2.0	1.0	900	$1,349	$1.50	23d	1	0.57mi
2810 Roanoke Ave Portsmouth, VA	3.0	1.5	1100	$2,100	$1.91	43d	1	0.64mi
2304 Nashville Ave Portsmouth, VA	3.0	1.5	1226	$1,395	$1.14	43d	1	0.74mi
1321 Columbia St Unit 1533640P Portsmouth, VA	3.0	2.5	1582	$5,609	$3.55	7d	1	0.75mi
1447 Talley Cir Portsmouth, VA	3.0	2.5	1440	$2,000	$1.39	23d	1	0.79mi
20149 County St Portsmouth, VA	3.0	2.5	1738	$2,400	$1.38	43d	1	0.80mi
533 Columbia St Portsmouth, VA	2.0	2.0	1110	$1,495	$1.35	43d	1	0.86mi
622 Effingham St Portsmouth, VA	2.0–3.0	1.5–2.0	1027	$1,797	$1.75	23d	2	0.87mi
1100 High St Portsmouth, VA	2.0–3.0	1.5–2.0	1003	$1,545	$1.54	2d	5	0.92mi
714 King St Portsmouth, VA	2.0	2.0	935	$1,899	$2.03	43d	1	0.92mi
231 Edison Ave Unit 231 Portsmouth, VA	2.0	1.5	1050	$1,275	$1.21	10d	1	0.93mi
231 Edison Ave Portsmouth, VA	2.0	1.5	1100	$1,275	$1.16	19d	1	0.93mi
605 Dinwiddie St Unit B Portsmouth, VA	2.0	1.0	900	$1,650	$1.83	43d	1	0.98mi
1140 London Blvd Portsmouth, VA	2.0	2.0	1016	$1,902	$1.87	3d	1	1.07mi
1914 King St Portsmouth, VA	3.0	2.5	1332	$2,200	$1.65	44d	1	1.08mi
414 London St Unit 3 Portsmouth, VA	3.0	2.0	1600	$1,595	$1.00	23d	1	1.15mi
111 High St #409 Portsmouth, VA	2.0	2.5	1078	$2,500	$2.32	7d	1	1.18mi
213 Beacon Rd Portsmouth, VA	3.0	2.0	1280	$2,300	$1.80	23d	1	1.22mi
3317 Downes St Portsmouth, VA	3.0	2.0	1148	$1,995	$1.74	10d	1	1.25mi
3317 Downes St Portsmouth, VA	3.0	2.0	1148	$1,995	$1.74	3d	1	1.25mi
528 Hampton Pl Unit 3 Portsmouth, VA	3.0	2.0	1650	$2,000	$1.21	17d	1	1.26mi
70 Manly St Portsmouth, VA	2.0	1.0	1000	$1,350	$1.35	43d	1	1.28mi
3724 Deep Creek Blvd Unit 3754 Portsmouth, VA	2.0	1.0	900	$995	$1.11	12d	1	1.29mi
3724 Deep Creek Blvd Unit 3728 Portsmouth, VA	2.0	1.0	900	$995	$1.11	23d	1	1.29mi

Listing history 21 events

1. 2026-06-16
   statusdays on market $99,000 Under Contract 26 DOM
2. 2026-06-15
   days on market $99,000 Active 25 DOM
3. 2026-06-13
   days on market $99,000 Active 23 DOM
4. 2026-06-09
   days on market $99,000 Active 19 DOM
5. 2026-06-08
   days on market $99,000 Active 18 DOM
6. 2026-06-07
   days on market $99,000 Active 17 DOM
7. 2026-06-03
   days on market $99,000 Active 13 DOM
8. 2026-06-02
   status $99,000 Active 12 DOM
9. 2026-05-15
   status Under Contract 821-char remark
10. 2026-05-02
    listed $99,000 Active 821-char remark
11. 2022-01-20
    status Under Contract
12. 2022-01-06
    historical Active Under Contract
13. 2021-12-23
    listed $179,000 Active
14. 2021-12-23
    historical
15. 2021-12-23
    listed $179,000 Active
16. 2021-12-23
    historical
17. 2021-12-07
    price $197,000
18. 2021-11-24
    listed $199,000 Active
19. 2021-01-27
    historical
20. 2020-12-09
    historical Active Under Contract
21. 2020-12-02
    listed $49,999 Active

ⓘ 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: $2,488 · $207/mo
• Projected year-2 tax: $2,488 · $207/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 AE · 56% 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: $22,270
• − Mortgage interest: −$5,546
• − Property taxes: −$2,488
• − Insurance: −$5,614
• − Repairs & maintenance: −$1,782
• − Management: −$1,782
• − Depreciation: −$2,880
• Taxable income: $2,180
• Est. tax owed @ 24.0%: −$523
• After-tax cash flow: $2,739/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): 19,207
• Household income: $49,583
• Rent vs Own: 59.8% rent · 40.2% own
• Severe rent burden: 1727.0

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: Predominantly Black (66%)
• Race & ethnicity: Black 66% White 24% Two or more races 6% Hispanic / Latino 4% Asian 2%
• Common ancestry: Slovak 1% Romanian 1% Lithuanian 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: ▼ -15.69%
• Current HPI: 322.7335
• Rent YoY: ▲ 3.31%
• 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

+98.0% since first listed

15 events — show timeline

• 2026-06-16 Pending — REINMLS
• 2026-06-02 Relisted — REINMLS
• 2026-05-15 Pending — REINMLS
• 2026-05-02 Listed $99,000 REINMLS
• 2022-01-20 Pending — REINMLS
• 2022-01-06 Contingent — REINMLS
• 2021-12-23 Listing Removed — REINMLS
• 2021-12-23 Listed $179,000 REINMLS
• 2021-12-23 Listing Removed — REINMLS
• 2021-12-23 Listed $179,000 REINMLS
• 2021-12-07 Price Changed $197,000 REINMLS
• 2021-11-24 Listed $199,000 REINMLS
• 2021-01-27 Listing Removed — REINMLS
• 2020-12-09 Contingent — REINMLS
• 2020-12-02 Listed $49,999 REINMLS

Property tax history

-9.2%/yr

Latest (2025): $2,488 · +2.4% YoY. Source: county tax records.