508 Kemp Lndg · Suffolk, VA 23434

$360,000

4 bd · 2.5 ba · 1,939 sqft · SingleFamily public records · 23 Days on market

Built 1996 $186/sqft · at area comps Est $370k · at est. $26/mo HOA · 1% of rent

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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 +9.8/30.0
• ARV discount +8.7/15.0
• Schools +4.8/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• DSCR +2.8/10.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 508 Kemp Landing! This 1,940 sqft, 4-bedroom, 2.5-bath home offers a spacious and functional layout with multiple living areas and abundant natural light. The kitchen features ample cabinet space, granite countertops, a stylish backsplash, and modern appliances, flowing into a bright dining area. Upstairs you'll find generously sized bedrooms, including a comfortable primary suite with a private bath. Enjoy the fully fenced backyard with a large deck, storage shed, garden beds, and play area—great for relaxing or entertaining. A great blend of space, comfort, and outdoor living! Stop here first!

Key facts

• Large deck
• Stylish backsplash
• Modern appliances

Tags

• MULTIPLE LIVING AREAS
• GRANITE COUNTERTOPS
• STYLISH BACKSPLASH
• MODERN APPLIANCES
• FULLY FENCED BACKYARD
• LARGE DECK

Property features AI

Finance

• HOA & community: Part of Berkshire Meadows Homeowners Association; HOA dues $26 monthly

Exterior

• Parking: Driveway spaces; Street parking
• Utilities: City/County water; City/County sewer; Natural gas water heater
• Home design: Detached traditional home; Two stories (two living levels); Slab foundation; Simple ownership
• Construction: Vinyl exterior; Asphalt shingle roof; Slab foundation
• Exterior features: Vinyl siding; Back yard privacy fence; Dog run; Fenced yard; Asphalt shingle roof

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Gas range; Refrigerator; Breakfast area
• Bedrooms: One bedroom with ensuite
• Flooring: Bamboo; Carpet; Ceramic
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Ceiling fan; Double primary sink; Walk-in closet; Window treatments; Attic; Foyer; Porch; Converted garage
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $360k.

Deal economics

• At list price, monthly cash flow is $-233 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $319k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $270k (25.0% below list).
• Recommended offer: $270k (25.0% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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: Oakland Elementary (math 52% / reading 72%, grade B, #480 of 1,108 statewide, top 46%, 469 students, 64% FRL); King'S Fork Middle (math 33% / reading 61%, grade D+, #257 of 342 statewide, top 77%, 1,031 students, 63% 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 (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.8%/yr); 546 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• This rent runs 41% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k 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 23 days — a 2% lower offer ($355k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

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 $270,147 (25.0% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
6. 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.
7. 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.
8. 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: 0.75% ✗
• Cap rate: 5.52%
• Cash-on-cash: -2.77%
• DSCR: 0.88
• GRM: 11.1

CMA / ARV

• ARV (median comp): $369,765
• List price: $360,000
• Delta: -2.64%
• 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
508 Kemp Lndg	0.00mi	4/2.5	1,940 (+0%)	0mo	$370,000	$191	100
113 Foxworth Cir	0.35mi	4/2.5	1,925 (-1%)	1mo	$382,000	$198	81
166 Ashford Dr	0.15mi	4/2.5	1,779 (-8%)	0mo	$375,000	$211	79
117 Lancelot Dr	0.27mi	3/2.5 (-1)	1,987 (+2%)	0mo	$380,000	$191	78
307 Shore Dr	0.38mi	4/2.0	1,958 (+1%)	4mo	$484,900	$248	75
144 Ashford Dr	0.27mi	4/2.5	1,763 (-9%)	3mo	$385,000	$218	70
136 Ashford Dr	0.32mi	4/2.5	1,779 (-8%)	6mo	$365,000	$205	66
515 Kemp Lndg	0.04mi	3/2.5 (-1)	1,680 (-13%)	7mo	$365,000	$217	65
115 Tournament Ct	0.35mi	4/2.5	1,744 (-10%)	8mo	$365,000	$209	60
114 Lancelot Dr	0.27mi	4/2.5	1,650 (-15%)	9mo	$355,000	$215	54
114 Ashford Dr	0.45mi	4/2.0	1,700 (-12%)	4mo	$378,500	$223	53
110 Jordan Ave	0.69mi	4/2.5	1,750 (-10%)	2mo	$419,000	$239	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: -18.0%
• Equity multiple: 0.35×
• Total profit: $-65,263
• Equity at exit: $53,677

10-year hold

• IRR: -5.7%
• Equity multiple: 0.59×
• Total profit: $-41,533
• Equity at exit: $31,126

Cash invested: $100,800 (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: 546
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $2,701 high
• Mortgage (P&I): −$1,888
• Tax from tax record: −$303 /mo · $3,638/yr
• Insurance: −$150
• HOA: −$26
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $-233

Break-even live

Break-even rent $2,996

Max offer price $318,860

Occupancy floor —

Sensitivity live

Price	-10% $-29	-5% $-131	+0% $-233	+5% $-335	+10% $-437
Rent	-10% $-446	-5% $-340	+0% $-233	+5% $-126	+10% $-19
Rate	-1.0pp $-52	-0.5pp $-141	base $-233	+0.5pp $-326	+1.0pp $-421

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
417 Keaton Way Suffolk, VA	5.0	2.0	2046	$2,895	$1.41	5d	1	0.07mi
306 Gauntlet Way Suffolk, VA	4.0	2.5	1906	$2,950	$1.55	18d	1	0.49mi
245 Wexford Dr W Suffolk, VA	3.0	2.5	1500	$2,285	$1.52	45d	1	0.57mi
1000 Hallstead Blvd Suffolk, VA	1.0–3.0	1.0–2.0	1041	$2,499	$2.40	3d	1	0.63mi
128 Majestic Dr Suffolk, VA	3.0	2.0	1680	$2,150	$1.28	17d	1	0.70mi
101 Emerald Ct Suffolk, VA	4.0	2.5	2100	$2,700	$1.29	5d	1	0.70mi
3061 Godwin Blvd Suffolk, VA	3.0	1.0–2.0	1047	$3,017	$2.88	3d	17	0.73mi
220 Abingdon Cir Suffolk, VA	3.0	2.5	1578	$2,000	$1.27	45d	1	0.86mi
108 Poplar Grove Cres Suffolk, VA	4.0	2.5	1950	$2,000	$1.03	25d	1	0.86mi
1007 Robinson Rd Suffolk, VA	3.0	2.5	1584	$3,400	$2.15	9d	1	0.96mi
1022 Meadows Reach Cir Suffolk, VA	5.0	3.0	2500	$3,000	$1.20	21d	1	1.13mi
2005 Waterside Dr Suffolk, VA	2.0–3.0	2.5	1657	$3,068	$1.85	3d	1	1.14mi
1001 Hillpoint Blvd Suffolk, VA	4.0	3.0	2200	$2,680	$1.22	45d	1	1.32mi
124 Mistral Ter Suffolk, VA	3.0	2.0	2297	$2,850	$1.24	25d	1	1.44mi

HOA detail

• Monthly dues: $26 · $312/yr

Listing history 8 events

1. 2026-05-18
   historical Active Under Contract 619-char remark
2. 2026-05-05
   listed $360,000 Active 619-char remark
3. 2026-05-05
   historical
4. 2026-04-13
   price $374,000
5. 2026-03-27
   price $384,000
6. 2026-03-06
   listed $385,000 Active
7. 2017-05-02
   soldstatus $160,000
8. 2002-06-04
   soldstatus $133,000

ⓘ 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: $3,638 · $303/mo
• Projected year-2 tax: $3,638 · $303/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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,418
• − Mortgage interest: −$20,166
• − Property taxes: −$3,638
• − Insurance: −$1,800
• − Repairs & maintenance: −$2,593
• − Management: −$2,593
• − HOA: −$312
• − Depreciation: −$10,473
• Taxable loss: −$9,158
• Est. tax savings @ 24.0%: +$2,198
• After-tax cash flow: $-597/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

+178.2% since first listed

10 events — show timeline

• 2026-06-15 Sold (MLS) $370,000 REINMLS
• 2026-05-28 Pending — REINMLS
• 2026-05-18 Contingent — REINMLS
• 2026-05-05 Listing Removed — REINMLS
• 2026-05-05 Listed $360,000 REINMLS
• 2026-04-13 Price Changed $374,000 REINMLS
• 2026-03-27 Price Changed $384,000 REINMLS
• 2026-03-06 Listed $385,000 REINMLS
• 2017-05-02 Sold (Public Records) $160,000 Public Records
• 2002-06-04 Sold (Public Records) $133,000 Public Records

Property tax history

+4.7%/yr

Latest (2025): $3,638 · +6.4% YoY. Source: county tax records.