3661 Deerfield Dr · Suffolk, VA 23435

$347,700

3 bd · 1.5 ba · 1,505 sqft · SingleFamily public records · 34 Days on market

Built 1972 0.57 ac lot $231/sqft · 7% below area Est $375k · 7% under

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +10.8/30.0
• ARV discount +10.8/15.0
• Rent growth +5.0/5.0
• Schools +4.8/10.0
• Livability +3.9/5.0
• DSCR +3.1/10.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully renovated 3-bdrm, 2 full bath Ranch-style home offering approx. 1505 sq. ft. of move-in ready living space! This updated Suffolk home features a bright and inviting floor plan with fresh paint, all new LVP flooring, renovated bathrooms, and a beautifully updated kitchen with modern finishes and fixtures. Spacious living and open dining areas provide great flow for everyday living and entertaining. Enjoy the convenience of one-level living along with a generously sized great for relaxing, gardening, or gatherings. Conveniently located near shopping, dining, schools, and commuter routes. A wonderful opportunity to own a fully updated home that combines comfort, style, and convenie

Key facts

• 0.57 acre lot
• Built 1972
• Listed 34 days

Property features AI

Finance

• HOA & community: No HOA fees reported

Exterior

• Parking: Driveway parking; Street parking
• Utilities: City/County water; City/County sewer; Gas water heater; Natural gas available
• Home design: Detached single-family ranch; One story; Crawl foundation
• Construction: Brick siding; Asphalt shingle roof
• Exterior features: Deck; Wooded lot; Marsh and wooded views; Back privacy fence (chain link and privacy sections)

Interior

• Kitchen: Gas range; Microwave; Refrigerator; Dishwasher
• Bedrooms: First-floor bedroom with full bathroom; Master bedroom (first floor); Additional bedroom
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced hot air (natural gas); Central air
• Interior features: Skylights; Cable hookup; Laminate flooring
• Laundry & utility: Washer hookup; Dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $348k.

Deal economics

• At list price, monthly cash flow is $-157 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $320k (8.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (24.4% below list).
• Recommended offer: $263k (24.4% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 3.5% in Suffolk — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#88 in VA, #2,896 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A-; Watch: crime C-, commute F.
• Suffolk City Public School District (suburban): math 41% / reading 69% proficiency, ranked #72 of 131 in VA (top 55%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Creekside Elementary (math 44% / reading 66%, grade C, #643 of 1,108 statewide, top 59%, 752 students, 65% FRL); John Yeates Middle (math 60% / reading 83%, grade A, #72 of 342 statewide, top 22%, 506 students, 64% FRL); Nansemond River High (math 44% / reading 87%, grade B, #204 of 319 statewide, top 65%, 1,698 students, 64% FRL) — zoned schools average 64% FRL vs 39% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+10.6%/yr); 518 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 680 units permitted in Suffolk city in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Suffolk County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($337k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $262,722 (24.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.76% ✗
• Cap rate: 5.75%
• Cash-on-cash: -1.94%
• DSCR: 0.91
• GRM: 11.0

CMA / ARV

• ARV (median comp): $375,000
• List price: $347,700
• Delta: -7.28%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3681 Deerfield Dr	0.13mi	3/1.5	1,505 (0%)	6mo	$290,000	$193	89
3629 Ithaca Trl	0.12mi	3/1.5	1,521 (+1%)	8mo	$330,000	$217	86
5040 Huntclub Chase	0.27mi	3/2.5	1,541 (+2%)	2mo	$375,000	$243	78
3609 Ithaca Trl	0.16mi	3/2.0	1,605 (+7%)	5mo	$310,000	$193	75
5529 Weatherby Way	0.16mi	3/1.5	1,377 (-8%)	7mo	$320,000	$232	72
5018 Huntclub Chase	0.35mi	4/2.5 (+1)	1,541 (+2%)	2mo	$349,437	$227	69
3503 Derby Cv	0.40mi	4/2.5 (+1)	1,556 (+3%)	1mo	$375,000	$241	66
5517 Buckhorne Cres	0.20mi	3/2.0	1,655 (+10%)	11mo	$407,000	$246	63
3601 Corral Cv	0.40mi	3/2.5	1,576 (+5%)	9mo	$374,999	$238	62
5051 Huntclub Chase	0.19mi	3/2.5	1,726 (+15%)	1mo	$375,000	$217	62
3515 Farrier Cv	0.23mi	3/2.5	1,698 (+13%)	7mo	$390,000	$230	58
5024 Huntclub Chase	0.33mi	4/2.5 (+1)	1,700 (+13%)	4mo	$379,000	$223	51

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.46×
• Total profit: $-52,547
• Equity at exit: $51,843

10-year hold

• IRR: 0.5%
• Equity multiple: 1.04×
• Total profit: $4,264
• Equity at exit: $30,063

Cash invested: $97,356 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State Virginia: 55 Moderately Landlord-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

VRLTA gives some tenant protections; Northern Virginia courts slower; rural VA landlord-leaning.

Methodology + full state rankings →

ZIP-level market 23435

• Rents YoY: 10.6%
• Active inventory: 518
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,627 high
• Mortgage (P&I): −$1,823
• Tax from tax record: −$265 /mo · $3,176/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $-157

Break-even live

Break-even rent $2,826

Max offer price $319,896

Occupancy floor —

Sensitivity live

Price	-10% $39	-5% $-59	+0% $-157	+5% $-256	+10% $-354
Rent	-10% $-365	-5% $-261	+0% $-157	+5% $-54	+10% $50
Rate	-1.0pp $18	-0.5pp $-69	base $-157	+0.5pp $-247	+1.0pp $-339

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $86,925
• Closing costs: $10,431
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3111 Burlington St Suffolk, VA	3.0	2.5	1638	$2,700	$1.65	23d	1	0.24mi
604 Teton Cir Suffolk, VA	3.0	2.5	1701	$2,500	$1.47	14d	1	0.27mi
2113 Livingston St Suffolk, VA	3.0	2.5	1770	$2,750	$1.55	6d	1	0.32mi
2230 Livingston St Suffolk, VA	3.0	2.5	1659	$2,500	$1.51	6d	1	0.42mi
2230 Livingston St Suffolk, VA	3.0	2.5	1767	$2,500	$1.41	9d	1	0.42mi
2003 Laycock Ln Suffolk, VA	3.0	2.5	1771	$2,500	$1.41	45d	1	0.86mi
1005 Serene Rd #103 Suffolk, VA	4.0	3.5	2071	$2,900	$1.40	6d	1	1.03mi
371 Canaan Cir Suffolk, VA	4.0	2.5	2132	$3,200	$1.50	45d	1	1.38mi
5109 James St Chesapeake, VA	3.0	1.5	1128	$2,200	$1.95	45d	1	1.49mi

Listing history 9 events

1. 2026-06-10
   status $347,700 Under Contract 34 DOM
2. 2026-06-09
   days on market $347,700 Active Under Contract 34 DOM
3. 2026-06-08
   days on market $347,700 Active Under Contract 33 DOM
4. 2026-06-07
   days on market $347,700 Active Under Contract 32 DOM
5. 2026-06-03
   days on market $347,700 Active Under Contract 28 DOM
6. 2026-06-02
   days on market $347,700 Active Under Contract 27 DOM
7. 2026-06-01
   days on market $347,700 Active Under Contract 26 DOM
8. 2026-05-31
   days on market $347,700 Active Under Contract 25 DOM
9. 2026-05-06
   listed $347,700 Active 703-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast VA · Resets to sale price

• Current annual tax: $3,176 · $265/mo
• Projected year-2 tax: $3,176 · $265/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,527
• − Mortgage interest: −$19,477
• − Property taxes: −$3,176
• − Insurance: −$1,738
• − Repairs & maintenance: −$2,522
• − Management: −$2,522
• − Depreciation: −$10,115
• Taxable loss: −$8,023
• Est. tax savings @ 24.0%: +$1,926
• After-tax cash flow: $37/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Suffolk City Public School District
• NCES district ID: 5103710
• Math proficiency: 41% ▼ -43.00%
• Reading proficiency: 69% ▼ -8.00%
• Median HH income: $65,573
• Composite: 48.31/100
• National rank: #2151
• State rank: #72 of 131 in VA

Livability — Suffolk

• Score: 77/100
• State rank: #88
• US rank: #2896

Category grades

Amenities C+ Commute F Cost of living C Crime C- Employment A- Housing A+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Suffolk, VA
• County: Suffolk City · 88,108 people
• City population: 88,108
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• Population (ZIP): 33,721
• Household income: $111,700
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1074.0

Population outlook (Suffolk County) Hauer SSP2

• Today (2025): 95,269 people
• By 2030: 98,269 · +3.1%
• By 2040: 103,177 · +8.3%
• By 2050: 105,777 · +11.0%
• By 2075: 110,963 · +16.5%
• By 2100: 103,711 · +8.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 47% Black 36% Two or more races 9% Hispanic / Latino 6% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 2% Italian 2% Slovak 1%
• Foreign-born: 6% · Canada, Vietnam, China
• Languages at home: 91% English-only · Spanish 4% Chinese 1% German/W. Germanic 1%

Political lean MEDSL · Suffolk

• 2024 margin: D (+15.9) · D 57.4% · R 41.5% · Other 1.2%
• 2008→2024 swing: +2.7pp toward D · 2008: 13.2pp · 2024: 15.9pp
• All cycles: 2024: D+15.9 2020: D+17.3 2016: D+13.8 2012: D+15.1 2008: D+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -155.93%
• Current HPI: 162.3775
• Rent YoY: ▲ 10.61%
• Metro: Virginia Beach-Norfolk-Newport News, VA-NC
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

Industry mix (Fortune 500 HQ in VA)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	4	$236B
▸Technology / Defense	3	$32B
▸Financial Services	2	$176B
▸Utilities	2	$27B
▸Insurance	2	$25B
▸Technology	2	$15B

Price history

3 events — show timeline

• 2026-06-09 Pending — REINMLS
• 2026-05-27 Contingent — REINMLS
• 2026-05-06 Listed $347,700 REINMLS

Property tax history

+4.8%/yr

Latest (2025): $3,176 · +8.1% YoY. Source: county tax records.