118 S Capital St · Suffolk, VA 23434

$164,900

3 bd · 2.5 ba · 1,520 sqft · SingleFamily public records · 20 Days on market

Built 2006 5,662 sqft lot Est $295k · 44% under

---

Why this score? — see what drove the B+ 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 +29.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Schools +4.8/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this 3-bedroom, 2.5-bathroom single-family home in the heart of Suffolk! This charming property features a cozy front porch, great for relaxing with your morning coffee. With spacious bedrooms and a functional layout, this home has plenty of potential. Conveniently located near dining, shopping, the interstate, and more! Don't miss out on this one - call today to schedule your showing!

Key facts

• Front porch
• Functional layout
• Conveniently located

Tags

• FRONT PORCH
• FUNCTIONAL LAYOUT
• CONVENIENTLY LOCATED

Property features AI

Finance

• HOA & community: No HOA fees

Exterior

• Parking: Driveway space
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Detached property; Transitional style; 2 stories; Crawl space foundation; Simple ownership
• Construction: Composite roof
• Exterior features: Vinyl siding

Interior

• Bedrooms: No bedroom with full bathroom on the first floor; 5 total rooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced hot air heating; Central air conditioning
• Interior features: Carpet flooring

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $569 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $162k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.4% 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: Mack Benn Jr. Elementary (math 27% / reading 50%, grade F, #924 of 1,108 statewide, top 84%, 684 students, 66% 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 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).
• This rent runs 32% 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 $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $46k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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.

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 $162,426 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.28% ✓
• Cap rate: 10.43%
• Cash-on-cash: 14.79%
• DSCR: 1.66
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $294,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
302 N Capital St	0.36mi	3/2.5	1,540 (+1%)	0mo	$320,000	$208	81
213 N 5th St	0.23mi	3/2.5	1,640 (+8%)	1mo	$325,000	$198	76
407 Wilson Ct	0.33mi	4/2.5 (+1)	1,495 (-2%)	1mo	$290,000	$194	76
901 Railroad Ave	0.32mi	3/2.5	1,624 (+7%)	4mo	$287,500	$177	71
605 Jefferson St	0.41mi	3/2.0	1,428 (-6%)	0mo	$220,000	$154	68
207 S 7th St	0.19mi	3/2.0	1,338 (-12%)	2mo	$235,000	$176	67
210 Maple St	0.39mi	3/2.0	1,378 (-9%)	0mo	$175,000	$127	64
1204 Woods Edge Cir	0.40mi	4/2.5 (+1)	1,646 (+8%)	3mo	$331,000	$201	60
325 Ben St	0.64mi	4/2.0 (+1)	1,537 (+1%)	4mo	$200,000	$130	58
1320 Baltic St	0.55mi	4/2.5 (+1)	1,650 (+9%)	3mo	$325,000	$197	52
1011 Blythewood Ln	0.47mi	4/2.0 (+1)	1,350 (-11%)	3mo	$264,900	$196	50
501 Mahlon Ave	0.68mi	3/2.5	1,670 (+10%)	2mo	$315,000	$189	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: 8.4%
• Equity multiple: 1.34×
• Total profit: $15,746
• Equity at exit: $24,587

10-year hold

• IRR: 19.9%
• Equity multiple: 2.89×
• Total profit: $87,439
• Equity at exit: $14,258

Cash invested: $46,172 (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: 6.5×

Monthly cashflow live

• Estimated rent: $2,114 high
• Mortgage (P&I): −$865
• Tax from tax record: −$167 /mo · $2,009/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$444
• Net cashflow: $569

Break-even live

Break-even rent $1,394

Max offer price $164,900

Occupancy floor 68%

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
124 Halifax St Suffolk, VA	4.0	2.0	1728	$2,100	$1.22	43d	1	0.26mi
223 N 7th St Suffolk, VA	3.0	2.5	1495	$2,300	$1.54	43d	1	0.29mi
307 N 4th St Suffolk, VA	4.0	2.0	1600	$1,800	$1.12	7d	1	0.35mi
116 Franklin St Unit 3 Suffolk, VA	3.0	1.0	1335	$1,750	$1.31	43d	1	0.78mi
116 Franklin St Suffolk, VA	3.0	1.0	1335	$1,750	$1.31	23d	1	0.78mi
1341 Devonshire Ct Suffolk, VA	3.0	2.0	1795	$2,295	$1.28	14d	1	0.80mi
1341 Devonshire Ct Suffolk, VA	3.0	2.0	1800	$2,295	$1.27	4d	1	0.80mi
315 Highland Ave Suffolk, VA	3.0	2.0	1580	$2,050	$1.30	23d	1	0.88mi
181 N Main St Suffolk, VA	2.0	1.0–2.0	804	$1,885	$2.34	1d	15	0.94mi
1410 Blythewood Ln Suffolk, VA	4.0	1.5	1056	$1,800	$1.70	43d	1	0.97mi
310 Greenfield Cres Suffolk, VA	3.0	2.0	1146	$1,995	$1.74	43d	1	1.31mi
206 Reid's Place Dr Suffolk, VA	3.0	2.5	1280	$2,200	$1.72	4d	1	1.35mi
206 Reid's Place Dr Unit 206 Suffolk, VA	3.0	2.5	1280	$2,300	$1.80	17d	1	1.37mi
827 Haskins Dr Suffolk, VA	3.0	3.0	1794	$2,600	$1.45	43d	1	1.43mi
803 Haskins Dr Suffolk, VA	3.0	2.0	1653	$2,400	$1.45	23d	1	1.49mi
525 Kilby Ave Suffolk, VA	3.0	2.5	1776	$2,500	$1.41	23d	1	1.50mi

Listing history 21 events

1. 2026-06-16
   statusdays on market $164,900 Under Contract 20 DOM
2. 2026-06-15
   days on market $164,900 Active Under Contract 19 DOM
3. 2026-06-13
   days on market $164,900 Active Under Contract 17 DOM
4. 2026-06-09
   days on market $164,900 Active Under Contract 13 DOM
5. 2026-06-08
   statusdays on market $164,900 Active Under Contract 12 DOM
6. 2026-06-07
   days on market $164,900 Active 11 DOM
7. 2026-06-03
   days on market $164,900 Active 7 DOM
8. 2026-06-02
   days on market $164,900 Active 6 DOM
9. 2026-06-01
   days on market $164,900 Active 5 DOM
10. 2026-05-31
    days on market $164,900 Active 4 DOM
11. 2026-05-26
    listed $164,900 Active
12. 2026-04-05
    historical $2,199
13. 2026-04-03
    listed $2,199
14. 2022-09-07
    soldstatus $192,000
15. 2022-08-09
    status Under Contract
16. 2022-07-02
    price $179,000
17. 2022-06-22
    status Active
18. 2022-05-26
    status Under Contract
19. 2022-05-10
    listed $190,000 Active
20. 2008-03-18
    soldstatus $145,000
21. 2005-12-01
    soldstatus $10,000

ⓘ 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: $2,009 · $167/mo
• Projected year-2 tax: $2,009 · $167/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 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: $25,367
• − Mortgage interest: −$9,237
• − Property taxes: −$2,009
• − Insurance: −$824
• − Repairs & maintenance: −$2,029
• − Management: −$2,029
• − Depreciation: −$4,797
• Taxable income: $4,441
• Est. tax owed @ 24.0%: −$1,066
• After-tax cash flow: $5,763/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

+1549.0% since first listed

11 events — show timeline

• 2026-05-26 Listed $164,900 REINMLS
• 2026-04-05 Rental Removed $2,199 Tricon
• 2026-04-03 Listed for Rent $2,199 Tricon
• 2022-09-07 Sold (Public Records) $192,000 Public Records
• 2022-08-09 Pending — REINMLS
• 2022-07-02 Price Changed $179,000 REINMLS
• 2022-06-22 Relisted — REINMLS
• 2022-05-26 Pending — REINMLS
• 2022-05-10 Listed $190,000 REINMLS
• 2008-03-18 Sold (Public Records) $145,000 Public Records
• 2005-12-01 Sold (Public Records) $10,000 Public Records

Property tax history

+2.9%/yr

Latest (2025): $2,009 · +3.3% YoY. Source: county tax records.