Central Portsmouth Homes under $500,000

Central Portsmouth Homes under $500,000

Welcome to Central Portsmouth, Virginia—a vibrant community rich in history and modern charm. Nestled along the stunning shores of the Elizabeth River, this thriving city offers a unique blend of coastal living, cultural experiences, and a welcoming atmosphere. With its historic downtown, Central Portsmouth is known for its quaint streets adorned with charming shops, delightful eateries, and picturesque parks, making it an ideal place for families, young professionals, and retirees alike.

One of the most appealing aspects of Central Portsmouth is its diverse real estate market, particularly for those seeking homes under $500,000. Here, you’ll find a variety of options, from cozy single-family homes to spacious townhouses, all within a budget-friendly range. The homes in this area often feature classic architectural styles, modern amenities, and beautifully landscaped yards, providing the perfect backdrop for your new life in this enchanting city.

Living in Central Portsmouth means embracing a lifestyle filled with recreational opportunities. Enjoy leisurely strolls along the waterfront, explore the rich maritime history at the nearby museums, or take advantage of the numerous parks and green spaces perfect for outdoor activities. The community spirit is palpable, with local events and festivals that bring residents together throughout the year.

Whether you’re a first-time homebuyer or looking to downsize, Central Portsmouth offers an inviting atmosphere and an array of homes that won’t break the bank. Discover your dream home in this delightful city, where history meets modern living, and create lasting memories in a community that feels like home.

Newest Central Portsmouth Homes under $500,000

23 Beacon Road, Central Portsmouth
$150,000
3 Beds ⋅ 1.1 Baths ⋅ 10658349 MLS
Handyman Special – Bring Your Vision and Make It Yours!Calling all investors, renovators, and buyers looking for their next project! This property is full of potential and ready for someone with vision to bring it back to life. Features include a large kitchen, a sunroom with possibilities for relaxing or entertaining, and a partially remodeled bathroom. Updates include a newer roof, a main water line replaced approximately 4 years ago, and areas of subfloor that have been replaced. This property is ready for its next chapter, so schedule your showing today before it's gone! Sold as-is. Seller to make no repairs.

23 Beacon Road, Central Portsmouth
2002 Lansing Avenue, Central Portsmouth
$269,900
3 Beds ⋅ 3 Baths ⋅ 10658400 MLS
LOOK NO FURTHER!! This BEAUTIFULLY UPDATED 3-bedroom, 3 bath home is ready to IMPRESS! Offering approximately 1,200 sq ft of comfortable living space, this home features a NEW ROOF, NEW HVAC, updated plumbing and electrical, and gorgeous LVP FLOORING throughout! Fall in love with the MODERN KITCHEN featuring GRANITE COUNTERTOPS, soft-close cabinets, and a GAS RANGE! The excitement doesn't stop inside! Step outside to a HUGE FENCED BACKYARD with plenty of space for entertaining, relaxing, and enjoying the outdoors! Additional features include a backyard storage shed and TWO-CAR DRIVEWAY! With major improvements already completed, this home offers FRESH, MODERN LIVING and is MOVE-IN READY! DON'T MISS THIS ONE—SCHEDULE YOUR SHOWING TODAY!!

2002 Lansing Avenue, Central Portsmouth
2212 Des Moines Avenue, Central Portsmouth
$300,000
4 Beds ⋅ 3 Baths ⋅ 10658472 MLS
Spacious 4-bedroom, 3-bath home situated on a 0.18-acre lot, offering a generous layout with plenty of room for comfortable living. There’s so much space and opportunity for you to bring your vision and really make this house your home! Conveniently located near dining, shopping, the highway and more! Call today for more information and to schedule your tour! Case#544-412924 IN (Insurable) Subject to Appraisal. Property is Owned by the US Dept. of HUD. Seller makes no representations or warranties as to the property condition. HUD Homes are Sold "AS IS". Equal Housing Opportunity. Seller may contribute up to 3% for buyers closing costs upon, upon bid submission.

2212 Des Moines Avenue, Central Portsmouth
1 Crawford Parkway Unit 1805, Central Portsmouth
$117,500
1 Beds ⋅ 1 Baths ⋅ 10658458 MLS
Enjoy city living with a view at this top-floor studio condo, offering a convenient location & amenities designed to make everyday living easier. Take in the views while enjoying an updated kitchen feat. SS appliances & gas stove. The thoughtfully arranged layout creates a comfortable setting for those seeking a low-maintenance lifestyle. Beyond the unit, the community offers several shared amenities: a swimming pool, grilling area, library, event room, & onsite laundry facilities. One of the standout benefits is the low monthly condo fee: includes utilities, HVAC, & water heaters. Located in the heart of Portsmouth, this condo is near local restaurants, shops, entertainment, the waterfront, and the Portsmouth Boat Club. Situated near the Naval Medical Center Portsmouth, shipyards, major interstates & the nearby Elizabeth River Ferry provides easy access to Norfolk. This condo offers a practical opportunity to enjoy all that Portsmouth has to offer!

1 Crawford Parkway Unit 1805, Central Portsmouth
3201 Downes Street, Central Portsmouth
$199,900
2 Beds ⋅ 1 Baths ⋅ 10658335 MLS
Welcome home to this charming 2-bedroom, 1-bath bungalow on a quiet street in Truxton! Fresh paint, new laminate flooring, and tasteful updates throughout create a warm, inviting feel. New windows, newer HVAC, and vinyl siding add to the home’s appeal, while a scuttle-access attic provides additional storage. Enjoy a fully fenced yard with room to relax, garden, or entertain, plus a detached garage for parking, storage, or hobbies. Conveniently located near interstate access and the shipyards, this adorable home is ready for its next chapter!

3201 Downes Street, Central Portsmouth
no property photo
$315,000
3 Beds ⋅ 3 Baths ⋅ 10658318 MLS
Beautiful three-bedroom, three-bathroom property located in a historic area of Portsmouth, Virginia. Conveniently situated near local shops, dining, and major interstate access, this property offers both charm and accessibility. An excellent opportunity for buyers seeking a home in an established neighborhood with convenient access to nearby amenities and transportation. Schedule your viewing today!

28 Afton Parkway, Central Portsmouth
201 Wynn Street, Central Portsmouth
$350,000
4 Beds ⋅ 2 Baths ⋅ 10657733 MLS
Nestled in the historic Cavalier Manor, this 4 bed/2 bath home is the ideal starter home or even the next step up with its flexible living space. The converted garage is the ideal flex space as a 5th bedroom, game room, TV hangout, kid's play room, or hobby spot. Mature trees and landscaping tell you "Relax! You don't have to spend time taking care of us!" It's simplicity and it's space to grow. Your laundry closet keeps things neat and tidy in the flex room. And if the idea of house-hacking to help offset the mortgage is intriguing, a private rear entrance can be an attractive option for finding a roommate while maintaining your own privacy. The kitchen got what it asked for: a brand new electric range along with a 2024 retrofitting of new cabinets and granite counters w/ SS appliance package. Drift outside the rear sliding doors to your spacious back yard (oh, a rear deck would go perfectly there!) surrounded by a new 7 ft tall wooden privacy fence and a wide gate that invites your boat, RV, or trailer to take refuge out of the public view. What matters most is savings in these tough times: A newer roof (5-10 yrs new), a 2025 HVAC system, 2023 hot water heater means less to worry about down the road. Cavalier Manor is a sought-after community that provides convenience as it's situated just 5 mins from Rivers Casino, Lowes, I-264, and Victory Shopping Center. Just 6 minutes from I-64. 215 Wynn Street is a home which offers so much: Value, flexibility, security. (Oh yeah, it has a security system as well!)

201 Wynn Street, Central Portsmouth
2229 Elm Avenue, Central Portsmouth
$349,900
3 Beds ⋅ 2.1 Baths ⋅ 10658315 MLS
Beautiful open-concept design perfect for entertaining. The spacious living area flows into a modernkitchen with stainless steel appliances, sleek finishes, and plenty of cabinet space. Upstairs, the largeprimary bedroom provides a relaxing retreat with great natural light. Enjoy the convenience of anattached garage and quality craftsmanship throughout. Located minutes from shopping, dining, andlocal amenities—move-in ready and built for modern living!

2229 Elm Avenue, Central Portsmouth
1412 Elm Avenue, Central Portsmouth
$239,000
5 Beds ⋅ 2 Baths ⋅ 10657887 MLS
Spacious 5-bedroom, 2 full-bath older home full of character and potential. This property needs some TLC, making it a great opportunity for buyers looking to add their own personal touch. Features include a cozy wood-burning stove in the living room, a nice yard with plenty of space to enjoy, and a single-car garage. A solid home with good bones and lots of upside for the right owner.

1412 Elm Avenue, Central Portsmouth
942 Amelia Avenue, Central Portsmouth
$179,000
2 Beds ⋅ 1.1 Baths ⋅ 10658275 MLS
Tucked into a cul-de-sac in Portsmouth's Westhaven neighborhood, this two-story townhome offers comfortable living indoors and out. At 942 Amelia Ave, a spacious foyer welcomes you to a main level with new luxury vinyl plank flooring, a kitchen, dining area, living room and convenient powder room. The living room opens directly to a beautiful paver patio, creating an easy flow for grilling, dining or relaxing outside. A fully fenced backyard adds a private-feeling outdoor retreat. Upstairs, two bedrooms feature carpet installed in 2025 and share a full bathroom. The roof is approximately 10 years old, and a new water heater was installed in 2026. With 1,036 square feet of living space and inviting outdoor amenities, this home is ready for its next chapter.

942 Amelia Avenue, Central Portsmouth
1908 Chestnut Street, Central Portsmouth
$210,000
3 Beds ⋅ 2 Baths ⋅ 10657689 MLS
Open-layout fixer in Portsmouth, VA! Great starter home or investment with strong potential. Spacious flow, solid bones, and ready for your updates. Build equity and make it your own—don’t miss this opportunity!

1908 Chestnut Street, Central Portsmouth
735 Flanders Circle, Central Portsmouth
$140,000
2 Beds ⋅ 1 Baths ⋅ 10657827 MLS
Full of potential, this 2-bedroom, 1-bath home is a great opportunity for investors or buyers looking to make a home their own. With some TLC and a little vision, you can bring new life to this property and make it your own. Whether you're searching for your next investment property or a place to call home, this property offers plenty of possibilities!

735 Flanders Circle, Central Portsmouth
Start Your Search

Some listings may be duplicated in the search results due to the co-mingling of listings from more than one multiple listing service. Should there be different listing information between the duplicated listings; user is advised to verify the accuracy of the listing information before making any financial decisions.

How much is your home worth?

Get instant property value now!