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1503 Elm Ave, Portsmouth, VA, 23704

8beds
4baths
3,390sqft
$300,000
$88price/sqft
$2,337/moest. monthly cost
$93,480/yrincome needed

About This Home

Sought after 4-Bedroom Duplex in the Heart of Portsmouth! Bring your creative vision and turn this home with good bones into a dream investment! Each unit features spacious bedrooms, contemporary paint and flooring. Settled on an oversized corner lot with partial fence and unique unit layouts are sure to attract attention. With separate metering for all utilities, future tenant move in is effortless. Ideally situated near military bases, shipyards, naval hospitals, famous landmarks, shopping, casino and entertainment. Freeways, bridges, and tunnels are easily accessible. Contact your agent today for a showing!

Getting Around

53
WalkingSomewhat Walkable
43
TransitSome Transit
59
BikeBikeable

Schools

3/10
2/10
Cradock Middle SchoolGrades 7-81.6 mi
3/10
Manor High SchoolGrades 9-123.9 mi

Construction

Condition

  • Property condition: Fixer
  • Year built: 1900

Materials

  • Roof: Asphalt Shingle
  • Construction materials: Brick

Type & Style

  • Home type: MultiFamily
  • Property subType: Duplex

Interior

Appliances

  • Appliances included: Electric Water Heater

Basement

  • Basement: Crawl Space

Bedrooms & Bathrooms

  • Bedrooms: 8
  • Bathrooms: 4

Interior Area

  • Total interior livable area: 3,390 sqft

Property

Details

  • Parcel number: 00690020
  • Zoning: URH

Features

  • Fencing: Partial
  • Waterfront features: Not Waterfront

Lot

  • Features: Corner Lot

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Lightning
    LightningModerate
  • Winter Weather
    Winter WeatherModerate
  • Tsunami
    TsunamiInsufficient Data

How This Home’s Risks Compare

Lightning
Winter Weather
Tsunami

FEMA Declared Disasters Across Virginia Counties

Flood
Severe Storm
Winter Storm

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $1,516$18,192
Home Insurance *$187$2,244
Property Taxes $308$3,696
Electricity $326$3,918
Total$2,337$28,044
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$80,125/yr
40% on housing$70,110/yr
45% on housing$62,320/yr

Virginia FAIR Plan Programs

Virginia Property Insurance Association

Covered
WildfireWildfire
Visit Website →
Current Policies
Residential: 22,622Commercial: 503
Total Premiums$20.86M
Total Exposure$4.29B

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 9.1%
9.1%
0%30.0%
Electricity Growth Rate10-year average: 7.8%
7.8%
0%15.0%
Property Taxes Growth Rate2-year average: 1.2%
1.2%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$88This listing

vs Other Active Listings

Avg $/sqft

ZIP 23704$138
Portsmouth City$138

vs Homes Sold Last Month

Median $/sqft

ZIP 23704$178
Portsmouth City$180

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

Price History

No price history available

For Sale by Agent

AgentReigne Brown
BrokerageRE/MAX Ultra

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