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Portsmouth › OLDE TOWNE › 475 Water St #302✓ Source: REIN MLS #10638167 · record updated Jul 7, 2026 · synced every 2 min · your inquiry is never resold
475 Water ST #302, PORTSMOUTH VA 23704 - Main photo
475 Water ST #302, PORTSMOUTH VA 23704 - Photo 2
475 Water ST #302, PORTSMOUTH VA 23704 - Photo 3
475 Water ST #302, PORTSMOUTH VA 23704 - Photo 4
475 Water ST #302, PORTSMOUTH VA 23704 - Photo 5
$360,000
$283 / sqft · est. $2,874/mo →
2beds
2baths
1,271sqft
32days on market

475 Water St #302, Portsmouth, VA 23704

Under ContractResidential · built 1996 · OLDE TOWNE

Chapter · The Water

Life on the water

The waterfront is the reason this home exists. Its water record, straight from the listing: River.

Frontage

River ✓ VERIFIED

Source: REIN MLS listing record · waterfront features as listed

About this home

The listing, in the seller's words

Welcome to Admirals Landing and luxury waterfront living in the heart of Olde Towne Portsmouth. This beautifully updated 2 bedroom 2 bathroom condo offers stunning Elizabeth River and Norfolk Waterside views from two private balconies. Features include a renovated kitchen with granite countertops and stainless steel appliances, fully updated spa style bathrooms, spacious dining room, custom ClosetMaid built-ins with Murphy bed in guest bedroom, and a stunning granite media wall with fireplace and TV in the living room that conveys. Enjoy abundant storage throughout including additional utility room storage. Resort style amenities include pool, hot tub, fitness room, pickleball, club room, library, guest suite, storage, and waterfront boardwalk access. Conveniently located beside the High Street Landing ferry with easy access to Waterside dining, festivals, shopping, and entertainment.

Listing courtesy of Catherine Underwood · BHHS RW Towne Realty · REIN MLS #10638167

VaHome team overview

Our read on this home

At a glance

475 Water Street #302 is a 2-bed, 2-bath condo in Portsmouth's historic Olde Towne waterfront district, steps from the Elizabeth River, top-rated dining, and two major military installations — all packed into 1,271 square feet of well-designed living space.

Read the full overview ↓

Why this home stands out

What sets this address apart is the rare combination of walkable urban convenience and genuine waterfront character. River Front Park is literally at your doorstep, Crawford Restaurant and Thyme On The River are a one-minute stroll away, and both USCG Base Portsmouth and Norfolk Naval Shipyard are within a mile. For a condo built in 1996, the location density is hard to match anywhere in Hampton Roads.

OLDE TOWNE and the Portsmouth real estate market

475 Water Street #302 sits in the heart of Olde Towne Portsmouth, one of the most historically rich and walkable neighborhoods in all of Portsmouth, Virginia. The streets here are lined with 18th- and 19th-century architecture, independent restaurants, boutique shops, and public green spaces that spill right down to the Elizabeth River. It's the kind of neighborhood where morning coffee at Olde Towne Coffee and an evening walk along the riverfront feel less like weekend treats and more like Tuesday routines. Portsmouth itself occupies a central position in the Hampton Roads metro — bordered by the Elizabeth River to the east and connected to Norfolk and the broader region by tunnel and bridge. The city blends genuine maritime history with a growing arts and dining scene, and Olde Towne is its most walkable, most storied pocket. Whether you're drawn by the water, the architecture, or the proximity to major employers and military installations, this address puts you at the intersection of all of it.

What's nearby

Daily life is remarkably convenient from Water Street. Simply Southern Market of Hampton Roads and Market Street & General Store are both within 0.2 miles for quick grocery runs, with Bier Garden Gift Shop & Market just a block further. Crawford Restaurant, Thyme On The River, and Peter's Market are all within 0.1 miles — dinner plans practically make themselves. Olde Towne Coffee is a short walk for your morning cup, and Wawa is under a mile when you need something fast. River Front Park is right outside your door, Marquis De Lafayette Park is 0.1 miles away, and Portside Park rounds out the green space within easy walking distance. Movement Studio VA and the Effingham Street Family YMCA keep fitness options close.

For different buyers

For military families relocating

USCG Base Portsmouth is essentially adjacent, and Norfolk Naval Shipyard is a one-minute commute — it's genuinely hard to find a condo this close to two installations simultaneously. A VA loan can make ownership here straightforward, and the walkable location means one car can comfortably handle daily life for a busy military household.

For first-time buyers

If you're buying your first home and want to skip the suburban commute, 475 Water Street #302 is worth a serious look. At 1,271 square feet with 2 beds and 2 baths, there's real room to grow. The walkable Olde Towne setting means restaurants, coffee, groceries, and parks are all on foot — and a VA loan could make the numbers work better than you'd expect.

More buyer questions

How far is 475 Water Street #302 from Norfolk Naval Shipyard?

Norfolk Naval Shipyard is approximately one minute away by car — the shipyard's gates are essentially within the same immediate neighborhood as this address.

Is 475 Water Street #302 in a flood zone?

Portsmouth's Olde Towne waterfront area includes properties in various FEMA flood zones; check the FloodRisk tile on this page for the specific designation assigned to this address.

What is the HOA situation at 475 Water Street #302?

This condo is part of a homeowners association — the HOA covers shared building and common area maintenance, which is typical for a multi-unit residential building of this type.

How walkable is the area around 475 Water Street in Portsmouth?

Extremely walkable — River Front Park is at your doorstep, multiple restaurants and coffee shops are within 0.1 to 0.2 miles, and grocery options are under a quarter mile away.

What year was the building at 475 Water Street built?

The building was constructed in 1996, placing it in a generation of Olde Towne waterfront development that brought residential condos to one of Portsmouth's most historic corridors.

Want to see Unit 302 in person or talk through the numbers with a local expert? Tom and Dariya Milan know this waterfront corridor well — reach out and let's set something up.

Summary generated by AI from public records and publicly available information.

Schools

Info provided by GreatSchools

Facts & features

The record, sourced

Type

Residential

Year built

1996

Price / sqft

$283

Condo fee

$567/mo

Taxes

$4,006/yr

County

Portsmouth VA

Waterfront

Yes

MLS #

10638167

Condo association includes

CableClubhouseElevatorExercise RmGround MaintPoolSecuritySewerTrash PickupWater

$567/mo condo fee · ADMIRALS LANDING CONDOMINIUM ASSOCIATION · per the REIN MLS listing record — confirm inclusions with the association.

See more Portsmouth waterfront homes.

Sources: REIN MLS record · null fields are suppressed, never faked

Flood & environment

The flood answer first — quantified, not buried

FEMA flood zone AE · base flood elevation 8 ft · Special Flood Hazard Area (flood insurance typically required) · FIRM 515529

Flood Risk

Looking up FEMA flood zone…

Zone AE typically means lenders require flood insurance — factor it into the monthly numbers below.

Hurricane Evacuation Zone

Evacuation Zone A

Source: Virginia Dept. of Emergency Management — Know Your Zone

In the Olde Towne Portsmouth neighborhood of Portsmouth. Portsmouth houses for sale →

Location intelligence

Minutes to real places, not a score

Location & Neighborhood

Places within ~1 mile, ordered by distance from this property. Powered by Google Places.

Military Commute

Drive times to nearest bases

Drive times via Google Maps with current traffic patterns. Times are typical and may vary by time of day. Use the "Analyze" button up top to see live drive time to your saved base.

The numbers

Run the real carrying cost

Estimates only — taxes come from the public record; confirm rates with your lender. VA-eligible buyers: $0-down financing may apply.

Estimate your monthly payment

$2,874/mo

Principal & interest

$1,868

Property tax

$334

Home insurance

$105

PMI

None

HOA

$567

Estimate only. Insurance assumed at 0.35% of home value annually. Actual taxes, insurance, and rate will vary by lender, credit, and property. Contact a lender for a personalized quote.

Value & history

Judge value on real ground

Why we show no algorithmic estimate.

National AVMs misprice homes whose value drivers they can't see. Instead: the sourced assessment above, the carrying cost, real price history, and honest comparables below.

Price context — similar nearby homes

$129,900 – $364,500

The 6 most similar homes nearby (same city, within ~20% of this size, ~2.5 mi; 6 sold). Context for judging the asking price — not an appraisal or an estimate of this home's value.

9 Quackenbush PL · 2.4 mi · 1,250 sqft$260,000 sold 2026-06
4 Sampson PL · 2.3 mi · 1,215 sqft$250,000 sold 2026-07
18 Bainbridge AVE · 2.6 mi · 1,300 sqft$350,000 sold 2026-05

Sale & Tax History

List Price

$360,000

Price / Sq Ft

$283

Annual Taxes

$4,006

Monthly Tax

$334

Condo fee

$567 / mo

Tax Rate (effective)

1.11%

Sale Timeline (this listing)

EventDatePriceDetail
ListedJun 5, 2026$360,000—
Currently listed—$360,000—

Looking for multi-year tax assessments or prior sales? REIN MLS only ships data for the current listing. For full property history, check the city assessor record:

Portsmouth Real Estate Assessor

Tax data above from REIN public-records sync. Sale timeline tracked from this listing's first appearance in our feed forward; prior owner sales are not included.

Comparable Properties

Comps are selected by city, bed count, square footage and price proximity. Composite similarity score weights bed match, sqft variance, price variance, and straight-line distance.

Questions buyers ask

Real questions, answered from the record

Is 475 Water St #302 in a good school zone?+
The assigned zones on the listing record are Park View Elementary (GreatSchools 5/10), Churchland Middle (GreatSchools 5/10), IC Norcom. School attendance zones can change — always confirm enrollment with the local school division.
Is 475 Water St #302 in a flood zone?+
FEMA maps this parcel in Zone AE with a base flood elevation of 8 ft — a high-risk flood band where lenders typically require flood insurance. See the flood section on this page for the full details and sources, and verify with an elevation certificate.
Is there a gym near 475 Water St #302?+
Yes — Movement Studio VA is about 0.2 miles away, per the cached nearby-places record for this address.
Are there parks near 475 Water St #302?+
River Front Park is about 0 miles away.
Where is the nearest grocery store to 475 Water St #302?+
Simply Southern Market of Hampton Roads is about 0.2 miles away. The closest dining on record is Crawford Restaurant (0.1 mi).
Is 475 Water St #302 a waterfront property?+
Yes. The listing record shows: River.
Does 475 Water St #302 have a condo association?+
Yes — condo association fees are on record for this unit (the current amount is shown in the facts section on this page). The association of record is ADMIRALS LANDING CONDOMINIUM ASSOCIATION. Association amenities on record include: Cable, Clubhouse, Elevator, Exercise Rm, Ground Maint, Pool, Security, Sewer, Trash Pickup, Water.
When was 475 Water St #302 built?+
It was built in 1996, per the listing record.

Answers generated from the listing record, verified school zones, FEMA data, and cached nearby-places data — never invented.

The people

You'll talk to a person, not a lead queue

TD

Tom & Dariya Milan

LPT Realty · Hampton Roads · answer their own phone

✓ Your inquiry goes to Tom & Dariya — never sold to strangers

Listing courtesy of Catherine Underwood · BHHS RW Towne Realty · REIN MLS #10638167

Call or text (757) 777-7577

Ask Dariya — instant answers

Schools, flood, drive times, what it really costs to own — answered from this page's data, by chat or voice.

Schedule a private tour

Free, no obligation — your inquiry goes to Tom & Dariya, never resold.

See it in person — the record only says so much.

Call or text (757) 777-7577

475 Water St #302, Portsmouth, Virginia 23704 · MLS #10638167 · Source: REIN MLS + public record. Information deemed reliable but not guaranteed — verify independently. School zones subject to change; confirm with the local school division. All locations are described by neutral geographic fact. Equal Housing Opportunity.

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