321 Bruce St · Suffolk, VA 23434

$240,000

2 bd · 1.0 ba · 1,086 sqft · SingleFamily public records · 43 Days on market

Built 1954 0.26 ac lot $221/sqft · at area comps Est $281k · 15% 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).

• ARV discount +14.1/15.0
• Cash flow +12.8/30.0
• Schools +4.8/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• DSCR +3.8/10.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2 BR 1 BA home in family friendly quiet neighborhood. Brand new front porch, HVAC 2-3 years old, tankless hot water heater and LVP throughout! Convenient location to interstate, Naval base and the Hampton Roads area.

Key facts

• Hvac
• Front porch
• Lvp

Tags

• FRONT PORCH
• HVAC
• TANKLESS HOT WATER HEATER
• LVP
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-22 ($-268/yr) — negative.
• To cash-flow at today's rent, offer at most $236k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (20.8% below list).
• Recommended offer: $190k (20.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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+, schools 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.
• Market conditions: Rents rising fast (+5.8%/yr); 536 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $7k 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 43 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $142k; list at $240k implies a 70% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• 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 $190,064 (20.8% 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 43 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1954 — 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: 0.79% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.40%
• DSCR: 0.98
• GRM: 10.5

CMA / ARV

• ARV (median comp): $280,958
• List price: $240,000
• Delta: -14.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
321 Bruce St	0.00mi	2/1.0	1,229 (+13%)	1mo	$242,500	$197	77
1158 Beaton St	0.06mi	3/1.0 (+1)	1,153 (+6%)	13mo	$281,000	$244	71
1324 Wilroy Rd	0.36mi	3/1.0 (+1)	1,134 (+4%)	8mo	$156,000	$138	65
705 Hollywood Ave	0.74mi	3/2.0 (+1)	1,020 (-6%)	8mo	$252,000	$247	40
2214 Florida Ave	0.70mi	3/2.0 (+1)	984 (-9%)	10mo	$195,000	$198	34

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 · 5.84% rent growth · sell at horizon

5-year hold

• IRR: -14.1%
• Equity multiple: 0.48×
• Total profit: $-34,780
• Equity at exit: $35,785

10-year hold

• IRR: -1.6%
• Equity multiple: 0.88×
• Total profit: $-8,040
• Equity at exit: $20,751

Cash invested: $67,200 (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 23434

• Rents YoY: 5.8%
• Active inventory: 536
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,901 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$165 /mo · $1,983/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $-22

Break-even live

Break-even rent $1,929

Max offer price $236,059

Occupancy floor 96%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
206 Reid's Place Dr Suffolk, VA	3.0	2.5	1280	$2,200	$1.72	4d	1	0.84mi
206 Reid's Place Dr Unit 206 Suffolk, VA	3.0	2.5	1280	$2,300	$1.80	17d	1	0.85mi
1144 Portsmouth Blvd Suffolk, VA	2.0–3.0	2.0	1039	$568	$0.55	2d	88	0.95mi
1000 Meridian Obici Way Suffolk, VA	1.0–2.0	1.0–2.0	889	$2,024	$2.28	2d	10	1.33mi
223 N 7th St Suffolk, VA	3.0	2.5	1495	$2,300	$1.54	44d	1	1.40mi
214 N 7th St Unit NA Suffolk, VA	2.0	1.0	760	$1,500	$1.97	24d	1	1.42mi
120 S 10th St Suffolk, VA	2.0	1.0	736	$1,250	$1.70	44d	1	1.47mi
307 Central Ave Suffolk, VA	3.0	1.0	840	$1,700	$2.02	44d	1	1.50mi

Listing history 30 events

1. 2026-05-12
   status Under Contract 225-char remark

   Show marketing remark (225 chars)

   Charming 2 BR 1 BA home in family friendly quiet neighborhood. Brand new front porch, HVAC 2-3 years old, tankless hot water heater and LVP throughout! Convenient location to interstate, Naval base and the Hampton Roads area.

2. 2026-05-04
   historical Active Under Contract 225-char remark

   Show marketing remark (225 chars)

   Charming 2 BR 1 BA home in family friendly quiet neighborhood. Brand new front porch, HVAC 2-3 years old, tankless hot water heater and LVP throughout! Convenient location to interstate, Naval base and the Hampton Roads area.

3. 2026-04-17
   price $240,000 225-char remark

   Show marketing remark (225 chars)

   Charming 2 BR 1 BA home in family friendly quiet neighborhood. Brand new front porch, HVAC 2-3 years old, tankless hot water heater and LVP throughout! Convenient location to interstate, Naval base and the Hampton Roads area.

4. 2026-03-30
   listed $245,000 Active 225-char remark

   Show marketing remark (225 chars)

   Charming 2 BR 1 BA home in family friendly quiet neighborhood. Brand new front porch, HVAC 2-3 years old, tankless hot water heater and LVP throughout! Convenient location to interstate, Naval base and the Hampton Roads area.

5. 2020-04-08
   status Under Contract
6. 2020-03-23
   historical Active Under Contract
7. 2020-01-07
   listed $159,900 Active
8. 2019-12-31
   historical
9. 2019-10-31
   price $155,000
10. 2019-10-03
    price $162,500
11. 2019-09-07
    listed $165,000 Active
12. 2017-05-31
    soldstatus $141,500
13. 2017-05-02
    status Under Contract
14. 2017-01-04
    listed $145,500 Active
15. 2017-01-03
    historical
16. 2016-10-19
    listed $145,500 Active
17. 2016-10-18
    historical
18. 2016-10-10
    price $140,000
19. 2016-09-13
    listed $150,000 Active
20. 2016-09-11
    historical
21. 2016-06-09
    price $150,000
22. 2016-05-10
    price $160,000
23. 2016-05-10
    status Active
24. 2016-05-02
    historical
25. 2016-03-10
    listed $150,000 Active
26. 2015-12-31
    historical
27. 2015-11-17
    price $149,000
28. 2015-07-16
    listed $152,000 Active
29. 2009-05-15
    soldstatus $156,000
30. 2005-02-24
    soldstatus $110,300

ⓘ 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: $1,983 · $165/mo
• Projected year-2 tax: $1,983 · $165/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 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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: $22,808
• − Mortgage interest: −$13,444
• − Property taxes: −$1,983
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,825
• − Management: −$1,825
• − Depreciation: −$6,982
• Taxable loss: −$4,450
• Est. tax savings @ 24.0%: +$1,068
• After-tax cash flow: $800/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): 54,387
• Household income: $79,877
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 1934.0

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 0.58)
• Race & ethnicity: Black 49% White 41% Two or more races 5% Hispanic / Latino 4% Asian 1%
• Common ancestry: Lithuanian 1% Slovak 1% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -383.80%
• Current HPI: 158.5866
• Rent YoY: ▲ 5.84%
• 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

+117.6% since first listed

30 events — show timeline

• 2026-05-12 Pending — REINMLS
• 2026-05-04 Contingent — REINMLS
• 2026-04-17 Price Changed $240,000 REINMLS
• 2026-03-30 Listed $245,000 REINMLS
• 2020-04-08 Pending — REINMLS
• 2020-03-23 Contingent — REINMLS
• 2020-01-07 Listed $159,900 REINMLS
• 2019-12-31 Listing Removed — REINMLS
• 2019-10-31 Price Changed $155,000 REINMLS
• 2019-10-03 Price Changed $162,500 REINMLS
• 2019-09-07 Listed $165,000 REINMLS
• 2017-05-31 Sold (Public Records) $141,500 Public Records
• 2017-05-02 Pending — REINMLS
• 2017-01-04 Listed $145,500 REINMLS
• 2017-01-03 Listing Removed — REINMLS
• 2016-10-19 Listed $145,500 REINMLS
• 2016-10-18 Listing Removed — REINMLS
• 2016-10-10 Price Changed $140,000 REINMLS
• 2016-09-13 Listed $150,000 REINMLS
• 2016-09-11 Listing Removed — REINMLS
• 2016-06-09 Price Changed $150,000 REINMLS
• 2016-05-10 Price Changed $160,000 REINMLS
• 2016-05-10 Relisted — REINMLS
• 2016-05-02 Listing Removed — REINMLS
• 2016-03-10 Listed $150,000 REINMLS
• 2015-12-31 Listing Removed — REINMLS
• 2015-11-17 Price Changed $149,000 REINMLS
• 2015-07-16 Listed $152,000 REINMLS
• 2009-05-15 Sold (Public Records) $156,000 Public Records
• 2005-02-24 Sold (Public Records) $110,300 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,983 · +4.3% YoY. Source: county tax records.