1112 Duke St · Portsmouth, VA 23704

$105,000

2 bd · 1.0 ba · 560 sqft · SingleFamily public records · 16 Days on market

Built 1948 1,524 sqft lot ↓ 8% since listing

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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 +27.9/30.0
• DSCR +9.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• 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

Great investment opportunity in Portsmouth! This 2-bedroom, 1-bath home is conveniently located near the naval base, shopping, dining, and major highways. Currently tenant-occupied on a month-to-month lease, with tenants planning to vacate upon 30 days’ notice. Great for investors or buyers looking for a renovation project. Sold as-is with plenty of potential to add value.

Key facts

• Tenant occupied
• Renovation project
• Add value

Tags

• INVESTMENT OPPORTUNITY
• TENANT OCCUPIED
• RENOVATION PROJECT
• ADD VALUE

Property features AI

Finance

• HOA & community: No HOA (N/A)

Exterior

• Parking: Street parking
• Utilities: City/County water; City/County sewer; Gas water heater
• Home design: Detached bungalow; Single-story
• Construction: Crawl foundation; Asphalt shingle roof
• Exterior features: Vinyl siding; 50 x 30 lot (30' front x 50' depth)

Interior

• Kitchen: Gas Range; Refrigerator
• Bedrooms: Bedroom and full bathroom on the first floor
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace heating; Window/Wall cooling
• Interior features: Carpet flooring; Fixer upper
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $103k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.0% 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; 16 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 30% 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 $726 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 $29k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1948 — 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 $103,425 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — 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: 1.20% ✓
• Cap rate: 9.98%
• Cash-on-cash: 13.17%
• DSCR: 1.59
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.31% rent growth · sell at horizon

5-year hold

• IRR: 3.4%
• Equity multiple: 1.13×
• Total profit: $3,915
• Equity at exit: $15,656

10-year hold

• IRR: 13.2%
• Equity multiple: 2.07×
• Total profit: $31,438
• Equity at exit: $9,078

Cash invested: $29,400 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,258 high
• Mortgage (P&I): −$551
• Tax from tax record: −$77 /mo · $926/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $323

Break-even live

Break-even rent $850

Max offer price $105,000

Occupancy floor 69%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
714 King St Unit 00 714204 Portsmouth, VA	1.0	1.0	670	$1,499	$2.24	17d	1	0.54mi
531 County St Unit 3 Portsmouth, VA	1.0	1.0	725	$900	$1.24	12d	1	0.57mi
531 County St Unit 3 Portsmouth, VA	1.0	1.0	725	$900	$1.24	7d	1	0.57mi
507 High St Portsmouth, VA	1.0	1.0	686	$1,474	$2.15	3d	1	0.68mi
548 Madison St Portsmouth, VA	1.0	1.0	750	$1,249	$1.67	43d	1	0.72mi
548 Madison St Unit 54311--D Portsmouth, VA	1.0	1.0	750	$1,249	$1.67	23d	1	0.73mi
941 Holladay St Portsmouth, VA	1.0	1.0	720	$900	$1.25	43d	1	0.75mi
525 North St #1 Portsmouth, VA	1.0	1.0	630	$1,100	$1.75	43d	1	0.81mi
320 Dinwiddie St Portsmouth, VA	1.0	1.0	700	$1,150	$1.64	23d	1	0.91mi
303 Effingham St Unit S-4B Portsmouth, VA	1.0	1.0	604	$1,050	$1.74	23d	1	0.92mi
303 Effingham St Unit S-5H Portsmouth, VA	1.0	1.0	604	$1,170	$1.94	23d	1	0.92mi
303 Effingham St Portsmouth, VA	1.0	1.0	604	$1,350	$2.24	23d	1	0.92mi
303 Effingham St Unit S-8B Portsmouth, VA	1.0	1.0	604	$1,150	$1.90	23d	1	0.92mi
303 Effingham St Portsmouth, VA	1.0–3.0	1.0–2.0	863	$1,500	$1.74	16d	11	0.92mi
359 Middle St Portsmouth, VA	1.0	1.0	700	$1,150	$1.64	43d	1	0.95mi
401 Constitution Ave Unit B Portsmouth, VA	1.0	1.0	600	$1,100	$1.83	43d	1	1.02mi

Listing history 10 events

1. 2026-06-18
   days on market $105,000 Active 16 DOM
2. 2026-06-17
   days on market $105,000 Active 15 DOM
3. 2026-06-16
   days on market $105,000 Active 14 DOM
4. 2026-06-15
   days on market $105,000 Active 13 DOM
5. 2026-06-13
   days on market $105,000 Active 11 DOM
6. 2026-06-09
   days on market $105,000 Active 7 DOM
7. 2026-06-08
   days on market $105,000 Active 6 DOM
8. 2026-06-07
   pricedays on market $105,000 Active 5 DOM
9. 2026-06-03
   remarks 375-char remark
10. 2026-06-03
    listed $114,900 Active 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: $926 · $77/mo
• Projected year-2 tax: $926 · $77/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) · 51% 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: $15,102
• − Mortgage interest: −$5,882
• − Property taxes: −$926
• − Insurance: −$525
• − Repairs & maintenance: −$1,208
• − Management: −$1,208
• − Depreciation: −$3,055
• Taxable income: $2,298
• Est. tax owed @ 24.0%: −$552
• After-tax cash flow: $3,320/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

-8.0% since first listed

4 events — show timeline

• 2026-06-02 Listed $114,900 REINMLS
• 2024-09-10 Listing Removed — REINMLS
• 2024-09-02 Price Changed $114,900 REINMLS
• 2024-08-23 Listed $124,900 REINMLS

Property tax history

+2.3%/yr

Latest (2025): $926 · +0.8% YoY. Source: county tax records.