1600 Prentis Ave · Portsmouth, VA 23704

$224,999

3 bd · 2.0 ba · 1,855 sqft · SingleFamily public records · 21 Days on market

Built 1918 Est $308k · 27% 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 +19.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• 1% rule +4.7/10.0
• 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

Come step into this beautifully restored Victorian-style home, where timeless old-world charm blends seamlessly with todays modern comfort and amenities. This spacious three-bedroom, two-bath home features nine-foot ceilings, custom moldings, antique decorative fireplaces, and a 100 square foot heated utility and laundry Room. Don't miss the opportunity to see this stunning home before it's gone.

Key facts

• Built 1918
• Listed 21 days

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Street parking
• Utilities: City/County water; City/County sewer; Gas water heater
• Home design: Detached traditional/victorian style home; 2 stories; Crawl foundation
• Construction: Composite roof
• Exterior features: Aluminum siding; Back yard with wood fence

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Bedrooms: No bedroom with a full bathroom on the first floor
• Flooring: Carpet; Ceramic; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced hot air heating; Central air conditioning
• Interior features: Two fireplaces; Attic; Foyer; Porch; Utility room; Breakfast area
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $253 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (2.6% below list).
• Recommended offer: $219k (2.6% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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; 24 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).
• At $2,191/mo this rent would consume 53% of the median local household income ($50k/yr) (locally 1727% 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $167k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $219,139 (2.6% below list)

Questions for the listing agent

1. Built in 1918 — 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: 0.97% ✗
• Cap rate: 7.64%
• Cash-on-cash: 4.82%
• DSCR: 1.21
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $307,930
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1415 Des Moines Ave	0.40mi	4/2.5 (+1)	1,890 (+2%)	1mo	$335,000	$177	70
2331 Azalea Ave	0.65mi	3/2.0	1,872 (+1%)	0mo	$283,900	$152	68
1801 Elm Ave	0.11mi	4/2.5 (+1)	1,608 (-13%)	2mo	$290,000	$180	64
2100 Elm Ave	0.27mi	4/3.5 (+1)	1,988 (+7%)	1mo	$265,000	$133	64
1410 Lansing Ave	0.37mi	4/2.5 (+1)	2,000 (+8%)	0mo	$331,900	$166	62
2506 Oak St	0.48mi	3/2.5	1,700 (-8%)	2mo	$278,000	$164	60
2121 Effingham St	0.42mi	3/1.5	1,650 (-11%)	1mo	$280,000	$170	59
2016 Evergreen Pl	0.69mi	4/2.5 (+1)	1,800 (-3%)	1mo	$307,000	$171	55
723 Washington St	0.63mi	3/2.5	2,015 (+9%)	0mo	$380,000	$189	54
2108 Evergreen Pl	0.71mi	4/2.5 (+1)	1,800 (-3%)	2mo	$280,000	$156	53
1213 Centre Ave	0.69mi	4/2.5 (+1)	2,100 (+13%)	1mo	$344,000	$164	38
1222 Wilcox Ave	0.72mi	4/3.5 (+1)	2,068 (+12%)	0mo	$248,000	$120	36

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: -8.5%
• Equity multiple: 0.69×
• Total profit: $-19,678
• Equity at exit: $33,548

10-year hold

• IRR: 1.4%
• Equity multiple: 1.10×
• Total profit: $6,383
• Equity at exit: $19,454

Cash invested: $63,000 (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 23704

• Home prices YoY: -4.6%
• Rents YoY: 3.3%
• Active inventory: 131
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,191 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$205 /mo · $2,455/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $253

Break-even live

Break-even rent $1,871

Max offer price $224,999

Occupancy floor 83%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1440 Lasalle Ave Portsmouth, VA	4.0	2.0	1493	$2,500	$1.67	23d	1	0.13mi
1508 Richmond Ave Portsmouth, VA	4.0	2.0	1600	$2,000	$1.25	3d	1	0.24mi
2111 Atlanta Ave Portsmouth, VA	3.0	2.0	1418	$2,395	$1.69	44d	1	0.33mi
2215 Atlanta Ave Portsmouth, VA	4.0	1.0	1628	$2,150	$1.32	7d	1	0.39mi
1321 Columbia St Unit 1533640P Portsmouth, VA	3.0	2.5	1582	$5,609	$3.55	7d	1	0.41mi
919 Jefferson St Portsmouth, VA	4.0	2.5	2026	$2,500	$1.23	23d	1	0.44mi
20149 County St Portsmouth, VA	3.0	2.5	1738	$2,400	$1.38	44d	1	0.45mi
1447 Talley Cir Portsmouth, VA	3.0	2.5	1440	$2,000	$1.39	23d	1	0.46mi
818 Coolidge St Portsmouth, VA	2.0	1.0	1230	$2,100	$1.71	44d	1	0.53mi
1409 Wilcox Ave Portsmouth, VA	3.0	2.5	1800	$2,500	$1.39	44d	1	0.78mi
1914 King St Portsmouth, VA	3.0	2.5	1332	$2,200	$1.65	44d	1	0.80mi
2304 Nashville Ave Portsmouth, VA	3.0	1.5	1226	$1,395	$1.14	44d	1	0.80mi
414 London St Unit 3 Portsmouth, VA	3.0	2.0	1600	$1,595	$1.00	23d	1	0.89mi
403 Court St Portsmouth, VA	3.0	1.5	2380	$1,950	$0.82	23d	1	0.96mi
511 Hampton Pl Unit A Portsmouth, VA	3.0	2.0	2100	$2,950	$1.40	44d	1	0.96mi
528 Hampton Pl Unit 3 Portsmouth, VA	3.0	2.0	1650	$2,000	$1.21	17d	1	0.97mi
148 Owens St Portsmouth, VA	3.0	2.0	1500	$2,350	$1.57	23d	1	1.11mi
2211 North St Portsmouth, VA	4.0	1.5	1500	$2,100	$1.40	16d	1	1.11mi
1611 McDaniel St Unit A Portsmouth, VA	3.0	2.0	1500	$1,950	$1.30	7d	1	1.13mi
1522 Barron St Portsmouth, VA	3.0	2.5	1920	$2,795	$1.46	20d	1	1.19mi
112 Idlewood Ave Portsmouth, VA	3.0	2.0	1508	$2,200	$1.46	44d	1	1.37mi
213 Beacon Rd Portsmouth, VA	3.0	2.0	1280	$2,300	$1.80	23d	1	1.37mi
2715 Portsmouth Blvd Portsmouth, VA	2.0	1.0	1428	$1,425	$1.00	14d	1	1.40mi
2715 Portsmouth Blvd Portsmouth, VA	2.0	1.0	1428	$1,425	$1.00	17d	1	1.40mi

Listing history 33 events

1. 2026-06-18
   days on market $224,999 Active 21 DOM
2. 2026-06-17
   days on market $224,999 Active 20 DOM
3. 2026-06-16
   days on market $224,999 Active 19 DOM
4. 2026-06-15
   days on market $224,999 Active 18 DOM
5. 2026-06-13
   pricedays on market $224,999 Active 16 DOM
6. 2026-06-09
   days on market $239,999 Active 12 DOM
7. 2026-06-08
   days on market $239,999 Active 11 DOM
8. 2026-06-07
   days on market $239,999 Active 10 DOM
9. 2026-06-03
   days on market $239,999 Active 6 DOM
10. 2026-06-02
    days on market $239,999 Active 5 DOM
11. 2026-06-01
    days on market $239,999 Active 4 DOM
12. 2026-05-31
    days on market $239,999 Active 3 DOM
13. 2026-05-28
    listed $239,999 Active
14. 2020-11-18
    soldstatus $167,000
15. 2020-10-01
    status Under Contract
16. 2020-09-21
    historical Active Under Contract
17. 2020-09-02
    price $169,900
18. 2020-08-19
    price $179,900
19. 2020-08-04
    price $189,900
20. 2020-07-20
    listed $195,000 Active
21. 2020-06-10
    soldstatus $101,100
22. 2020-05-20
    status Under Contract
23. 2020-04-01
    historical Active Under Contract
24. 2020-03-27
    price $80,000
25. 2020-03-17
    listed $100,000 Active
26. 2019-11-22
    soldstatus $190,000
27. 2019-11-06
    status Under Contract
28. 2019-09-27
    historical Active Under Contract
29. 2019-09-25
    listed $190,000 Active
30. 2019-07-23
    status Under Contract
31. 2019-06-06
    price $69,000
32. 2019-02-25
    price $74,900
33. 2019-01-09
    listed $75,000 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: $2,455 · $205/mo
• Projected year-2 tax: $2,455 · $205/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 5/10 Major FEMA zone X (shaded) · 50% 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: $26,297
• − Mortgage interest: −$12,603
• − Property taxes: −$2,455
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,104
• − Management: −$2,104
• − Depreciation: −$6,545
• Taxable loss: −$640
• Est. tax savings @ 24.0%: +$154
• After-tax cash flow: $3,189/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

+220.0% since first listed

21 events — show timeline

• 2026-05-28 Listed $239,999 REINMLS
• 2020-11-18 Sold (Public Records) $167,000 Public Records
• 2020-10-01 Pending — REINMLS
• 2020-09-21 Contingent — REINMLS
• 2020-09-02 Price Changed $169,900 REINMLS
• 2020-08-19 Price Changed $179,900 REINMLS
• 2020-08-04 Price Changed $189,900 REINMLS
• 2020-07-20 Listed $195,000 REINMLS
• 2020-06-10 Sold (Public Records) $101,100 Public Records
• 2020-05-20 Pending — REINMLS
• 2020-04-01 Contingent — REINMLS
• 2020-03-27 Price Changed $80,000 REINMLS
• 2020-03-17 Listed $100,000 REINMLS
• 2019-11-22 Sold (Public Records) $190,000 Public Records
• 2019-11-06 Pending — REINMLS
• 2019-09-27 Contingent — REINMLS
• 2019-09-25 Listed $190,000 REINMLS
• 2019-07-23 Pending — REINMLS
• 2019-06-06 Price Changed $69,000 REINMLS
• 2019-02-25 Price Changed $74,900 REINMLS
• 2019-01-09 Listed $75,000 REINMLS

Property tax history

-5.4%/yr

Latest (2025): $2,455 · +0.8% YoY. Source: county tax records.