74 Hobson St · Portsmouth, VA 23704

$184,900

3 bd · 2.0 ba · 1,022 sqft · SingleFamily public records · 79 Days on market

Built 1919 2,613 sqft lot $181/sqft · 19% below area Est $229k · 19% 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 +17.9/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• 1% rule +4.4/10.0
• 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 MLS

PRICE REDUCED! Come see this charming 3 bedroom 2 full bath Colonial waiting for you to move in-located near shopping and main roads. The renovated kitchen with electric range, dishwasher and refrigerator. There is a first floor bedroom and upstairs the primary bedroom is well proportioned-the remaining bedroom is also good sized-bathrooms feature tub/shower combinations. This property is SOLD AS-IS, with no repairs by Seller. This property may qualify for Seller Financing (Vendee). If Property was built prior to 1978, Lead Based Paint Potentially Exists.

Key facts

• Renovated kitchen
• First floor bedroom
• 2,613 sq ft lot

Tags

• RENOVATED KITCHEN
• FIRST FLOOR BEDROOM
• TUB SHOWER COMBINATIONS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $154 ($2k/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 $174k (6.0% below list).
• Recommended offer: $174k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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: 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 42% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago; this cycle's ask has dropped $27k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $173,806 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 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 1919 — 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: 0.94% ✗
• Cap rate: 7.30%
• Cash-on-cash: 3.58%
• DSCR: 1.16
• GRM: 8.9

CMA / ARV

• ARV (median comp): $229,270
• List price: $184,900
• Delta: -19.35%
• 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
9 Shelby St	0.35mi	3/2.0	1,028 (+1%)	2mo	$239,000	$232	81
312 Killian Ave	0.29mi	3/1.0	992 (-3%)	2mo	$255,000	$257	76
2803 Nashville Ave	0.57mi	3/2.0	1,050 (+3%)	3mo	$235,000	$224	66
117 Edison Ave	0.47mi	2/1.0 (-1)	1,000 (-2%)	2mo	$227,500	$228	64
113 Baldwin Ave	0.41mi	2/1.5 (-1)	973 (-5%)	4mo	$95,000	$98	63
109 Woodstock St	0.46mi	3/1.0	960 (-6%)	3mo	$220,000	$229	62
4 May St	0.61mi	3/1.5	1,064 (+4%)	4mo	$155,000	$146	60
118 Dekalb Ave	0.52mi	2/1.0 (-1)	1,065 (+4%)	2mo	$175,500	$165	58
24 Neville St	0.46mi	3/1.0	946 (-7%)	6mo	$238,900	$253	57
2711 Evergreen Pl	0.62mi	3/2.0	1,100 (+8%)	2mo	$278,000	$253	57
2600 Roanoke Ave	0.65mi	3/1.0	900 (-12%)	2mo	$107,000	$119	44
2713 Roanoke Ave	0.68mi	3/1.0	1,160 (+14%)	3mo	$105,000	$91	40

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: -10.3%
• Equity multiple: 0.62×
• Total profit: $-19,590
• Equity at exit: $27,569

10-year hold

• IRR: -0.6%
• Equity multiple: 0.96×
• Total profit: $-2,184
• Equity at exit: $15,987

Cash invested: $51,772 (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: 8.9×

Monthly cashflow live

• Estimated rent: $1,739 high
• Mortgage (P&I): −$970
• Tax from tax record: −$173 /mo · $2,070/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $154

Break-even live

Break-even rent $1,543

Max offer price $184,900

Occupancy floor 86%

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3317 Downes St Portsmouth, VA	3.0	2.0	1148	$1,995	$1.74	10d	1	0.06mi
3317 Downes St Portsmouth, VA	3.0	2.0	1148	$1,995	$1.74	3d	1	0.06mi
2715 Portsmouth Blvd Portsmouth, VA	2.0	1.0	1428	$1,425	$1.00	17d	1	0.08mi
2715 Portsmouth Blvd Portsmouth, VA	2.0	1.0	1428	$1,425	$1.00	14d	1	0.08mi
70 Manly St Portsmouth, VA	2.0	1.0	1000	$1,350	$1.35	43d	1	0.12mi
3304 Killian Ave Portsmouth, VA	3.0	1.0	800	$2,000	$2.50	23d	1	0.25mi
213 Beacon Rd Portsmouth, VA	3.0	2.0	1280	$2,300	$1.80	23d	1	0.26mi
1 Shelby St Portsmouth, VA	2.0	1.0	700	$1,250	$1.79	23d	1	0.33mi
49 Carver Cir Portsmouth, VA	2.0	2.0	800	$1,450	$1.81	23d	1	0.46mi
3724 Deep Creek Blvd Unit 3754 Portsmouth, VA	2.0	1.0	900	$995	$1.11	12d	1	0.54mi
3724 Deep Creek Blvd Unit 3728 Portsmouth, VA	2.0	1.0	900	$995	$1.11	23d	1	0.54mi
2304 Nashville Ave Portsmouth, VA	3.0	1.5	1226	$1,395	$1.14	43d	1	0.55mi
21 DeKalb Ave Portsmouth, VA	2.0	1.0	984	$1,550	$1.58	43d	1	0.58mi
231 Edison Ave Unit 231 Portsmouth, VA	2.0	1.5	1050	$1,275	$1.21	10d	1	0.59mi
231 Edison Ave Portsmouth, VA	2.0	1.5	1100	$1,275	$1.16	19d	1	0.59mi
251 Independence St Portsmouth, VA	3.0	2.5	1294	$2,550	$1.97	23d	1	0.63mi
2810 Roanoke Ave Portsmouth, VA	3.0	1.5	1100	$2,100	$1.91	43d	1	0.64mi
2750 Greenwood Dr Portsmouth, VA	3.0	2.0	1200	$1,700	$1.42	23d	1	0.73mi
3401 Brighton St Portsmouth, VA	3.0	2.5	1439	$2,195	$1.53	3d	1	0.83mi
35 Fairview Cir S Portsmouth, VA	4.0	1.5	1462	$2,100	$1.44	12d	1	0.91mi
1915 Des Moines Ave Portsmouth, VA	3.0	1.0	1070	$1,700	$1.59	23d	1	0.93mi
1915 Des Moines Ave Portsmouth, VA	3.0	1.0	1070	$1,700	$1.59	16d	1	0.93mi
1915 Lansing Ave Portsmouth, VA	3.0	1.0	1085	$1,675	$1.54	3d	1	0.97mi
1314 Summit Ave Portsmouth, VA	3.0	1.5	1152	$1,750	$1.52	43d	1	1.01mi
3717 Scott St Portsmouth, VA	3.0	1.0	1157	$1,400	$1.21	23d	1	1.11mi
2111 Atlanta Ave Portsmouth, VA	3.0	2.0	1418	$2,395	$1.69	43d	1	1.12mi
1802 Atlanta Ave Unit 2 Portsmouth, VA	2.0	1.0	1200	$1,500	$1.25	23d	1	1.17mi
3607 Bart St Portsmouth, VA	3.0	2.0	1326	$1,850	$1.40	10d	1	1.19mi
1416 Richmond Ave Portsmouth, VA	2.0	1.0	1024	$1,150	$1.12	43d	1	1.19mi
134 Monmouth St Portsmouth, VA	3.0	2.5	1440	$2,450	$1.70	43d	1	1.22mi
3626 Bart St Unit BAR3626-DF Portsmouth, VA	2.0	1.0	900	$1,000	$1.11	7d	1	1.22mi
2007 Elm Ave Portsmouth, VA	3.0	1.0	903	$1,300	$1.44	20d	1	1.24mi
98 Francis St Portsmouth, VA	2.0	2.0	984	$1,395	$1.42	14d	1	1.30mi
1914 King St Portsmouth, VA	3.0	2.5	1332	$2,200	$1.65	44d	1	1.30mi
102 Francis St #98 Portsmouth, VA	2.0	1.5	1000	$1,395	$1.40	16d	1	1.30mi
2756 Peach St Portsmouth, VA	2.0	1.5	1040	$1,495	$1.44	23d	1	1.31mi
1447 Talley Cir Portsmouth, VA	3.0	2.5	1440	$2,000	$1.39	23d	1	1.37mi
2906 Chestnut St Unit 1328007P Portsmouth, VA	2.0	1.0	947	$4,650	$4.91	7d	1	1.41mi
3310 Glasgow St Portsmouth, VA	2.0	1.0	1100	$1,600	$1.45	3d	1	1.41mi
818 Coolidge St Portsmouth, VA	2.0	1.0	1230	$2,100	$1.71	43d	1	1.45mi

Listing history 29 events

1. 2026-06-18
   days on market $184,900 Active 79 DOM
2. 2026-06-17
   days on market $184,900 Active 78 DOM
3. 2026-06-16
   pricedays on market $184,900 Active 77 DOM
4. 2026-06-15
   days on market $199,900 Active 76 DOM
5. 2026-06-13
   days on market $199,900 Active 74 DOM
6. 2026-06-09
   days on market $199,900 Active 70 DOM
7. 2026-06-08
   days on market $199,900 Active 69 DOM
8. 2026-06-07
   days on market $199,900 Active 68 DOM
9. 2026-06-03
   days on market $199,900 Active 64 DOM
10. 2026-06-02
    days on market $199,900 Active 63 DOM
11. 2026-06-01
    days on market $199,900 Active 62 DOM
12. 2026-05-31
    days on market $199,900 Active 61 DOM
13. 2026-05-12
    price $199,900 567-char remark

    Show marketing remark (567 chars)

    PRICE REDUCED! Come see this charming 3 bedroom 2 full bath Colonial waiting for you to move in-located near shopping and main roads. The renovated kitchen with electric range, dishwasher and refrigerator. There is a first floor bedroom and upstairs the primary bedroom is well proportioned-the remaining bedroom is also good sized-bathrooms feature tub/shower combinations. This property is SOLD AS-IS, with no repairs by Seller. This property may qualify for Seller Financing (Vendee). If Property was built prior to 1978, Lead Based Paint Potentially Exists.

14. 2026-03-31
    listed $211,836 Active 567-char remark

    Show marketing remark (567 chars)

    PRICE REDUCED! Come see this charming 3 bedroom 2 full bath Colonial waiting for you to move in-located near shopping and main roads. The renovated kitchen with electric range, dishwasher and refrigerator. There is a first floor bedroom and upstairs the primary bedroom is well proportioned-the remaining bedroom is also good sized-bathrooms feature tub/shower combinations. This property is SOLD AS-IS, with no repairs by Seller. This property may qualify for Seller Financing (Vendee). If Property was built prior to 1978, Lead Based Paint Potentially Exists.

15. 2025-09-08
    historical
16. 2025-06-22
    listed $245,000 Active
17. 2022-03-07
    soldstatus $182,000
18. 2022-02-16
    status Under Contract
19. 2022-02-02
    historical Active Under Contract
20. 2022-01-14
    listed $182,000 Active
21. 2022-01-10
    historical
22. 2022-01-03
    price $199,900
23. 2021-12-16
    price $209,500
24. 2021-11-24
    listed $218,500 Active
25. 2021-07-22
    soldstatus $100,000
26. 2021-05-24
    historical Active Under Contract
27. 2021-05-22
    historical
28. 2021-05-14
    listed $100,000 Active
29. 2001-06-08
    soldstatus $31,390

ⓘ 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: $2,070 · $173/mo
• Projected year-2 tax: $2,070 · $173/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 4/10 Moderate FEMA zone X (shaded) · 13% 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: $20,866
• − Mortgage interest: −$10,357
• − Property taxes: −$2,070
• − Insurance: −$924
• − Repairs & maintenance: −$1,669
• − Management: −$1,669
• − Depreciation: −$5,379
• Taxable loss: −$1,204
• Est. tax savings @ 24.0%: +$289
• After-tax cash flow: $2,142/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

+536.8% since first listed

17 events — show timeline

• 2026-05-12 Price Changed $199,900 REINMLS
• 2026-03-31 Listed $211,836 REINMLS
• 2025-09-08 Listing Removed — REINMLS
• 2025-06-22 Listed $245,000 REINMLS
• 2022-03-07 Sold (Public Records) $182,000 Public Records
• 2022-02-16 Pending — REINMLS
• 2022-02-02 Contingent — REINMLS
• 2022-01-14 Listed $182,000 REINMLS
• 2022-01-10 Listing Removed — REINMLS
• 2022-01-03 Price Changed $199,900 REINMLS
• 2021-12-16 Price Changed $209,500 REINMLS
• 2021-11-24 Listed $218,500 REINMLS
• 2021-07-22 Sold (Public Records) $100,000 Public Records
• 2021-05-24 Contingent — REINMLS
• 2021-05-22 Listing Removed — REINMLS
• 2021-05-14 Listed $100,000 REINMLS
• 2001-06-08 Sold (Public Records) $31,390 Public Records

Property tax history

-3.1%/yr

Latest (2025): $2,070 · +2.1% YoY. Source: county tax records.