Score
0Portsmouth, VA
1233 Centre Ave
207K
4 beds
3 baths
1,340 sqft
4 bd • 3 ba • 1,340 sf
This analysis was generated on 2/13/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$207,000
Price/Sq.Ft
$154
Year Built
1910
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Affordable Price per Square Foot: At $154.48 per square foot, the property is competitively priced compared to the average price per square foot in Portsmouth, which ranges from $170 to $220 (source: Zillow, Redfin).
• Recently Renovated: The property has been recently renovated with updated appliances, stylish flooring, and energy-efficient systems. The appliances, mini-split heating & cooling, and flooring were installed at the end of 2021 to start of 2022. This reduces the likelihood of immediate maintenance costs.
• Potential Rental Income: Based on the provided rental rates for 2023, a four-bedroom property in Portsmouth can command approximately $2,264 per month. This suggests strong potential for rental income.
• Gas Water Heater: The property has a gas water heater, which is generally more energy-efficient and cost-effective than electric water heaters.
• Proximity to Downtown: The property is located near downtown Portsmouth, providing convenient access to dining, entertainment, and public transportation. This increases its appeal to renters.
The Bad
• Moderate Flood Risk (4/10): The property is located in FEMA Zone X_SHADED, indicating a moderate flood risk. This means flood insurance is recommended. The average flood risk in Portsmouth is around 3/10.
• Low School Ratings: The nearby schools (Douglass Park Elementary, Cradock Middle, and Manor High School) have a rating of 2/10, which is significantly below the state average. This may deter renters with children.
• High Heat Risk (9/10): The property is located in an area with extreme heat risk, with a 98th percentile temperature of 106°F and 7 hot days per year. This could result in higher cooling costs for renters.
• Severe Wind Risk (8/10): The property is located in an area with severe wind risk, which could result in higher insurance premiums and potential damage from storms.
The Ugly
• High Combined Climate Risk: The combination of moderate flood risk (4/10), major air quality risk (5/10), extreme heat risk (9/10), and severe wind risk (8/10) creates significant environmental vulnerabilities. This could lead to higher insurance costs and potential property damage.
• Low Median Income Area: The median income in the area is $42,831, which is below the national average. This may limit the ability to increase rental rates in the future.
• Unknown Utility Costs: The lack of utility information makes it difficult to accurately estimate operating expenses. Factors such as water, sewer, and trash removal costs can impact the property's profitability.
• Age of the Property: Built in 1910, the property is over 100 years old. While renovated, older properties may have hidden structural or system-related issues that could require costly repairs.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
• Investors Seeking Cash Flow in Urban Areas: The property is positioned to generate income through rental yields, making it suitable for investors looking to expand their portfolio. The updated appliances and flooring will appeal to renters.
• Buyers Comfortable with Moderate Flood Risk: Given the property's flood risk score of 4/10, it's best suited for buyers who understand the potential for flooding and are prepared to obtain flood insurance.
• Buyers Seeking Properties Near Public Transportation: The property's proximity to public transportation makes it appealing to individuals who rely on these services for commuting and daily activities.
• Buyers Who Appreciate Renovated Properties: The recent renovations, including updated appliances, flooring, and mini-split heating & cooling systems, make this property attractive to those seeking a move-in ready investment.
Not For
• Buyers Seeking Low-Risk Properties: The moderate flood risk (4/10) and severe wind risk (8/10) may deter risk-averse buyers. The need for flood insurance adds to the ownership costs and complexity.
• Buyers Sensitive to Air Quality: The major air quality risk (5/10) and 6 bad air days per year may be a concern for individuals with respiratory issues.
• Families Prioritizing School Quality: The low school ratings (2/10) for nearby Douglass Park Elementary, Cradock Middle, and Manor High School may not be suitable for families with children.
• Buyers Uncomfortable with High Summer Temperatures: The extreme heat risk (9/10), with a 98th percentile temperature of 106°F and 7 hot days per year, may be a deterrent for those who prefer milder climates.
Demographics
Area Median Income
$42,831
Property History
Price History
Ownership Timeline
$186,000Financed
May 23, 2022Link Investment LlcChase Nichols
Warranty Deed
Standard Sale (Purchase/Resales)
$43,500Financed
Jan 14, 2020Federal National Mortgage AssociationLink Investment Llc
Special Warranty Deed
Non-Residential Arm's Length Transactions
$29,000Cash Purchase
Oct 29, 2019Alg Trustee Llc, Dorothy JonesFederal National Mortgage Association
Trustees Deed
Foreclosure
$128,000Financed
Aug 29, 2007Ryan E SeamanDorothy Jones
Warranty Deed
Standard Sale (Purchase/Resales)
$53,000Financed
Mar 23, 2005Verdell NottinghamRyan Seaman
Warranty Deed
Standard Sale (Purchase/Resales)
Property Taxes
$2,239
2023 Tax Assessment
7.9%from previous year
Assessed Value$179,130
Tax Rate1.25%
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
Data provided by Shadowmap
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Schools
Nearby school quality by education level
Middle
2.0/10
Below AverageHigh
2.0/10
Below AverageFinancials
Monthly Costs
Market Rent (4 bed)
Get a detailed estimate on Zillow$1,116
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$207,000
Price/sqft
$154
Layout
4 bd•3 ba
Days on market
74 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$229,460
9.8%
Your price is 9.8% below average
Median Price
$250,000
17.2%
Based on 6 recent sales
Price per Sq.Ft
$165
6.4%
Your price is 6.4% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 2413 Chestnut Street, Portsmouth, VA 23704 | $275,000 | 1,500 | 3 | 3 | $18318.7% | 10/25/2024 |
| 50 Manly Street, Portsmouth, VA 23702 | $287,800 | 1,600 | 3 | 3 | $18016.4% | 10/11/2024 |
| 831 Palmer Street, Portsmouth, VA 23704 | $245,000 | 1,250 | 3 | 2 | $19626.9% | 12/17/2024 |
| 9 Harris Road, Portsmouth, VA 23702 | $145,000 | 1,298 | 3 | 2 | $11227.7% | 11/18/2024 |
| 1212 Piedmont Avenue, Portsmouth, VA 23704 | $173,962 | 1,488 | 5 | 2 | $11724.3% | 12/9/2024 |
| 2112 Richmond Avenue, Portsmouth, VA 23704 | $250,000 | 1,222 | 3 | 2 | $20532.4% | 11/9/2024 |
2413 Chestnut Street, Portsmouth, VA 23704
Price: $275,000
Sq.Ft: 1,500
Beds/Baths: 3/3
$/Sq.Ft:
$18318.7%
Sale Date: 10/25/2024
50 Manly Street, Portsmouth, VA 23702
Price: $287,800
Sq.Ft: 1,600
Beds/Baths: 3/3
$/Sq.Ft:
$18016.4%
Sale Date: 10/11/2024
831 Palmer Street, Portsmouth, VA 23704
Price: $245,000
Sq.Ft: 1,250
Beds/Baths: 3/2
$/Sq.Ft:
$19626.9%
Sale Date: 12/17/2024
9 Harris Road, Portsmouth, VA 23702
Price: $145,000
Sq.Ft: 1,298
Beds/Baths: 3/2
$/Sq.Ft:
$11227.7%
Sale Date: 11/18/2024
1212 Piedmont Avenue, Portsmouth, VA 23704
Price: $173,962
Sq.Ft: 1,488
Beds/Baths: 5/2
$/Sq.Ft:
$11724.3%
Sale Date: 12/9/2024
2112 Richmond Avenue, Portsmouth, VA 23704
Price: $250,000
Sq.Ft: 1,222
Beds/Baths: 3/2
$/Sq.Ft:
$20532.4%
Sale Date: 11/9/2024
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