Real Estate Investing in Portsmouth, Virginia (23704)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 23704 (Portsmouth, VA)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 12.3% of homes vacant — above national norms.
- Elevated poverty: 23.8% poverty rate — can affect rent collection.
What’s happening in Portsmouth, VA (23704)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 23704 Portsmouth
ZIP 23704 inside Portsmouth City looks affordable on the surface — median value of $242K — but the discount exists for reasons that a careful buyer should understand before committing.
The 23704 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Statewide comparisons place 23704 among VA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
In practical terms, 19,235 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategically, 23704 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Portsmouth:
Property Strategy for 23704
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $136,454 | $1,450 | 7.7% | +6.9% | $136,454 |
| 2BR | $179,420 | $1,640 | 6.6% | +8.5% | $89,710 |
| 3BR | $245,710 | $2,270 | 6.7% | +8.3% | $81,903 |
| 4BR | $293,543 | $2,680 | 6.6% | +7.4% | $73,386 |
| 5BR | $330,982 | — | — | +7.3% | $66,196 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 23704 Compare?
| Metric | 23704 | Portsmouth | Virginia |
|---|---|---|---|
| Home Value | $241,529 | $189,001 | $403,170 |
| 5-Year CAGR | 5.8% | 5.7% | 6.4% |
| Avg Rent | $1,596 | $1,625 | - |
| Cap Rate | 5.2% | 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 23704 (Portsmouth, VA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $241,529 |
| Monthly Rent | $1,596 |
| Price-to-Rent | 12.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.9% |
| Cap Rate | 5.2% |
| 5-Year IRR | 11.0% |
📈 Home Appreciation
| 1-Year | +2.6% ▲ |
| 3-Year CAGR | +4.1% ▲ |
| 5-Year CAGR | +5.8% ▲ |
| 10-Year CAGR | +7.0% ▲ |
🏠 Rent Trends
| 1-Year | +3.1% ▲ |
| 3-Year CAGR | +4.3% ▲ |
| 5-Year CAGR | +5.9% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.2%). 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 23704
Population: 19,235
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 23704
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Southside STEM Academy at Campostella
P.B. Young Sr. Elementary
St. Helena Elementary
Cradock Elementary
Cradock Middle
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
Which real estate strategy fits Portsmouth, VA?
Most investors in Portsmouth, VA run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
How deep is the rental pool in Portsmouth, VA?
Tenant quality in Portsmouth, VA ranks as solid. Landlords generally report stable occupancy at market rents of $1,596/mo.
How strict are landlord regulations in Portsmouth, VA?
VA law landlord-friendly for landlords, and Portsmouth inherits those rules. Investors should still review local ordinances for rental licensing.
Can I house hack in Portsmouth, VA?
The a challenging house-hack environment in Portsmouth, VA reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
Do landlords face vacancy issues in Portsmouth, VA?
Vacancy in Portsmouth, VA is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $1,596/mo.
You know 23704 now. You don’t know where it ranks.
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How 23704 ranks in Virginia Beach-Norfolk-Newport News, VA-NC
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