Real Estate Investing in Portsmouth, Virginia (23701)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23701 (Portsmouth, VA)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.5% vacancy may signal weakening demand.
What’s happening in Portsmouth, VA (23701)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 23701 Portsmouth
This part of Portsmouth City is not an easy win. The 23701 ZIP records softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The investment case in 23701 is notable only for operators who understand what they are buying. A $267K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
In the broader VA picture, 23701 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The 23701 ZIP's population of 24,430 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that posts the need for careful underwriting.
New investors are better served looking at Portsmouth's stable or hybrid ZIPs before stepping into 23701. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Portsmouth:
Property Strategy for 23701
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $197,848 | $1,580 | 5.7% | +9.0% | $98,924 |
| 3BR | $253,014 | $2,190 | 6.2% | +7.9% | $84,338 |
| 4BR | $312,034 | $2,580 | 6.0% | +7.1% | $78,008 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 23701 Compare?
| Metric | 23701 | Portsmouth | Virginia |
|---|---|---|---|
| Home Value | $267,085 | $189,001 | $403,170 |
| 5-Year CAGR | 5.7% | 5.7% | 6.4% |
| Avg Rent | $1,668 | $1,625 | - |
| Cap Rate | 4.9% | 4.8% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 23701 (Portsmouth, VA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 23701 (Portsmouth, VA)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $267,085 |
| Monthly Rent | $1,668 |
| Price-to-Rent | 13.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.5% |
| Cap Rate | 4.9% |
| 5-Year IRR | 10.6% |
📈 Home Appreciation
| 1-Year | +4.8% ▲ |
| 3-Year CAGR | +4.9% ▲ |
| 5-Year CAGR | +5.7% ▲ |
| 10-Year CAGR | +6.3% ▲ |
🏠 Rent Trends
| 1-Year | -0.5% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.9%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 23701
Population: 24,430
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 23701
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Cradock Elementary
Cradock Middle
Jolliff Middle
Southwestern Elementary
Westhaven Elementary
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 5,182 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the typical vacancy rate in Portsmouth, VA?
Expect elevated vacancy in Portsmouth, VA. Rents at $1,668/mo are absorbed by the tenant base without meaningful lag.
What kind of tenants rent in Portsmouth, VA?
The renter base in Portsmouth, VA is reasonable for the $1,668/mo price point. Screening well and pricing to market typically yields steady tenants.
How strong is Portsmouth, VA for real estate investors?
Our data puts Portsmouth, VA at 3.0/5 for investability. Home prices of $267K and rents around $1,668/mo create a solid backdrop for investor activity.
Is Portsmouth, VA good for landlords?
Portsmouth, VA operates under VA law, which is landlord-friendly overall for landlords. Expect consistent treatment in typical lease and eviction cases.
What price range are homes in Portsmouth, VA?
Homes in Portsmouth, VA typically sell near $267K. Prices have moved at a 0.0% 5-year CAGR, which even-keeled long-term demand.
You know 23701 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 23701 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 23701 ranks in Virginia Beach-Norfolk-Newport News, VA-NC
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 23701 (Portsmouth)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 23701 (Portsmouth, VA).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.