152 Lee St · Suffolk, VA 23434

$198,999

3 bd · 1.0 ba · 1,184 sqft · SingleFamily public records · 35 Days on market

Built 1954 $168/sqft · 22% below area Est $254k · 22% under

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Why this score? — see what drove the C- 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 +16.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• Schools +4.8/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully updated 3-bedroom, 1-bath property located at 152 Lee Street in Suffolk, VA. This home has been completely renovated from top to bottom with everything brand new — offering modern style, comfort, and peace of mind for its next owner. Enjoy a bright living space, updated kitchen and bath, new flooring, fresh paint, and new fixtures throughout. Every detail has been thoughtfully refreshed so you can move right in without lifting a finger. Whether you’re a first-time buyer, downsizing, or looking for a smart investment opportunity, this home is an exceptional value and priced aggressively to sell quickly. Conveniently located near shopping, dining,

Key facts

• Built 1954
• Listed 35 days

Property features AI

Finance

• HOA & community: No HOA fees indicated

Exterior

• Parking: Driveway parking; Street parking
• Utilities: City/County water; City/County sewer; Electric water heater; Electric-powered systems
• Home design: Detached Colonial; 2 stories; Crawl space foundation
• Construction: Vinyl exterior; Asphalt shingle roof; Crawl space foundation
• Exterior features: Vinyl siding; Fenced yard; Asphalt shingle roof

Interior

• Bedrooms: Bedroom on the first floor
• Flooring: Carpet; Ceramic; Vinyl; Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Carpet, ceramic, vinyl and wood flooring; First-floor bedroom with full bathroom; Porch
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $113 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $167k (16.2% below list).
• Recommended offer: $167k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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: Hillpoint Elementary (math 31% / reading 57%, grade F, #851 of 1,108 statewide, top 77%, 737 students, 65% FRL); King'S Fork High (math 44% / reading 77%, grade C+, #244 of 319 statewide, top 77%, 1,697 students, 63% 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 (+5.8%/yr); 536 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $6k 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 35 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $79k; list at $199k implies a 152% 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 $166,791 (16.2% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.84% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.43%
• DSCR: 1.11
• GRM: 9.9

CMA / ARV

• ARV (median comp): $254,082
• List price: $198,999
• Delta: -21.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
146 Pine St	0.23mi	3/1.0	1,160 (-2%)	3mo	$100,000	$86	83
435 Wellons St	0.38mi	3/2.5	1,200 (+1%)	0mo	$284,900	$237	74
208 Wellons St	0.15mi	2/1.0 (-1)	1,057 (-11%)	3mo	$68,000	$64	68
608 Battery Ave	0.52mi	3/2.5	1,150 (-3%)	2mo	$279,999	$243	63
515 Battery Ave	0.48mi	3/1.5	1,120 (-5%)	4mo	$250,000	$223	63
207 Pitchkettle Rd	0.59mi	3/2.5	1,200 (+1%)	3mo	$270,000	$225	61
204 Bute St	0.52mi	3/2.0	1,264 (+7%)	0mo	$215,000	$170	60
731 Brook Ave	0.68mi	3/2.5	1,150 (-3%)	3mo	$279,999	$243	55
729 Brook Ave	0.69mi	3/2.5	1,150 (-3%)	3mo	$279,999	$243	54
433 Wellons St	0.37mi	3/2.5	1,360 (+15%)	0mo	$303,000	$223	52
116 Woodrow Ave	0.66mi	3/2.0	1,100 (-7%)	2mo	$257,000	$234	52
711 Brook Ave	0.65mi	3/1.0	1,056 (-11%)	2mo	$192,000	$182	50

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: -9.7%
• Equity multiple: 0.64×
• Total profit: $-20,247
• Equity at exit: $29,671

10-year hold

• IRR: 2.8%
• Equity multiple: 1.23×
• Total profit: $12,609
• Equity at exit: $17,206

Cash invested: $55,720 (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: 9.9×

Monthly cashflow live

• Estimated rent: $1,668 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$78 /mo · $942/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $113

Break-even live

Break-even rent $1,525

Max offer price $198,999

Occupancy floor 88%

Sensitivity live

Price	-10% $225	-5% $169	+0% $113	+5% $56	+10% $0
Rent	-10% $-19	-5% $47	+0% $113	+5% $179	+10% $244
Rate	-1.0pp $213	-0.5pp $163	base $113	+0.5pp $61	+1.0pp $9

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
308 Saint James Ave Unit B Suffolk, VA	2.0	1.0	936	$1,295	$1.38	24d	1	0.27mi
181 N Main St Suffolk, VA	2.0	1.0–2.0	804	$1,885	$2.34	2d	15	0.30mi
116 Franklin St Unit 3 Suffolk, VA	3.0	1.0	1335	$1,750	$1.31	44d	1	0.37mi
116 Franklin St Suffolk, VA	3.0	1.0	1335	$1,750	$1.31	24d	1	0.37mi
558 1st Ave Suffolk, VA	2.0	1.5	1000	$1,250	$1.25	44d	1	0.45mi
564 1st Ave Suffolk, VA	2.0	1.0	1000	$1,100	$1.10	44d	1	0.46mi
326 E Washington St Suffolk, VA	2.0	2.0	839	$1,629	$1.94	3d	1	0.48mi
410 Bosley Ave Unit B Suffolk, VA	2.0	1.0	850	$1,095	$1.29	11d	1	0.49mi
806 W Washington St Unit 112 Suffolk, VA	2.0	2.0	900	$1,325	$1.47	18d	1	0.59mi
307 Central Ave Suffolk, VA	3.0	1.0	840	$1,700	$2.02	44d	1	0.62mi
310 Greenfield Cres Suffolk, VA	3.0	2.0	1146	$1,995	$1.74	44d	1	0.80mi
210 Baker St Suffolk, VA	3.0	1.0	988	$1,600	$1.62	44d	1	0.91mi
114 Nancy Dr Suffolk, VA	2.0–3.0	1.0	860	$1,450	$1.69	2d	4	1.04mi
223 N 7th St Suffolk, VA	3.0	2.5	1495	$2,300	$1.54	44d	1	1.23mi
214 N 7th St Unit NA Suffolk, VA	2.0	1.0	760	$1,500	$1.97	24d	1	1.25mi
120 S 10th St Suffolk, VA	2.0	1.0	736	$1,250	$1.70	44d	1	1.44mi

Listing history 35 events

1. 2026-06-13
   statusdays on market $198,999 Under Contract 35 DOM
2. 2026-06-09
   days on market $198,999 Active Under Contract 34 DOM
3. 2026-06-08
   days on market $198,999 Active Under Contract 33 DOM
4. 2026-06-07
   days on market $198,999 Active Under Contract 32 DOM
5. 2026-06-03
   days on market $198,999 Active Under Contract 28 DOM
6. 2026-06-02
   days on market $198,999 Active Under Contract 27 DOM
7. 2026-06-02
   status $198,999 Active Under Contract 26 DOM
8. 2026-06-01
   days on market $198,999 Active 26 DOM
9. 2026-05-31
   days on market $198,999 Active 25 DOM
10. 2026-05-06
    listed $199,000 Active 747-char remark
11. 2026-05-06
    historical
12. 2026-04-08
    price $199,000
13. 2026-03-09
    price $205,000
14. 2026-02-27
    price $207,999
15. 2026-01-30
    listed $210,000 Active
16. 2025-12-04
    historical
17. 2025-11-14
    price $119,500
18. 2025-10-31
    price $120,000
19. 2025-10-15
    soldstatus $78,900
20. 2025-10-10
    listed $125,000 Active
21. 2021-06-16
    historical
22. 2021-06-09
    price $104,000
23. 2021-06-01
    price $105,000
24. 2021-04-12
    price $106,800
25. 2021-03-27
    price $106,900
26. 2021-03-17
    price $107,900
27. 2021-03-01
    price $108,900
28. 2021-02-08
    price $109,000
29. 2021-01-24
    price $115,000
30. 2021-01-10
    price $119,000
31. 2021-01-03
    price $121,000
32. 2020-12-24
    price $125,000
33. 2020-12-22
    price $128,500
34. 2020-12-03
    price $129,000
35. 2020-06-16
    listed $133,000 Active

ⓘ 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: $942 · $78/mo
• Projected year-2 tax: $1,632 · $136/mo
• Expected delta: +$690/yr (+$58/mo · 73.3%)

ⓘ 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 9/10 Extreme 7 d/yr ≥109°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: $20,015
• − Mortgage interest: −$11,147
• − Property taxes: −$942
• − Insurance: −$995
• − Repairs & maintenance: −$1,601
• − Management: −$1,601
• − Depreciation: −$5,789
• Taxable loss: −$2,060
• Est. tax savings @ 24.0%: +$494
• After-tax cash flow: $1,847/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

+49.6% since first listed

29 events — show timeline

• 2026-06-10 Pending — REINMLS
• 2026-06-01 Contingent — REINMLS
• 2026-05-26 Price Changed $198,999 REINMLS
• 2026-05-06 Listing Removed — REINMLS
• 2026-05-06 Listed $199,000 REINMLS
• 2026-04-08 Price Changed $199,000 REINMLS
• 2026-03-09 Price Changed $205,000 REINMLS
• 2026-02-27 Price Changed $207,999 REINMLS
• 2026-01-30 Listed $210,000 REINMLS
• 2025-12-04 Listing Removed — REINMLS
• 2025-11-14 Price Changed $119,500 REINMLS
• 2025-10-31 Price Changed $120,000 REINMLS
• 2025-10-15 Sold (Public Records) $78,900 Public Records
• 2025-10-10 Listed $125,000 REINMLS
• 2021-06-16 Listing Removed — REINMLS
• 2021-06-09 Price Changed $104,000 REINMLS
• 2021-06-01 Price Changed $105,000 REINMLS
• 2021-04-12 Price Changed $106,800 REINMLS
• 2021-03-27 Price Changed $106,900 REINMLS
• 2021-03-17 Price Changed $107,900 REINMLS
• 2021-03-01 Price Changed $108,900 REINMLS
• 2021-02-08 Price Changed $109,000 REINMLS
• 2021-01-24 Price Changed $115,000 REINMLS
• 2021-01-10 Price Changed $119,000 REINMLS
• 2021-01-03 Price Changed $121,000 REINMLS
• 2020-12-24 Price Changed $125,000 REINMLS
• 2020-12-22 Price Changed $128,500 REINMLS
• 2020-12-03 Price Changed $129,000 REINMLS
• 2020-06-16 Listed $133,000 REINMLS

Property tax history

+4.9%/yr

Latest (2025): $942 · +2.3% YoY. Source: county tax records.