605 Jefferson St · Suffolk, VA 23434

$255,000

4 bd · 2.0 ba · 1,428 sqft · SingleFamily public records · 76 Days on market

Built 1955 7,840 sqft lot $179/sqft · 12% below area Est $289k · 12% under ↓ 7% since listing

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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 +15.1/30.0
• ARV discount +12.8/15.0
• Schools +4.8/10.0
• DSCR +4.6/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3-bedroom 2-full bath brick ranch. Needs a little TLC but a great starter home!

Key facts

• 7,840 sq ft lot
• Built 1955
• Listed 76 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $86 ($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 $211k (17.2% below list).
• Recommended offer: $211k (17.2% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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+, 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; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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).
• 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 $2k of loan paydown is wiped out by about $8k 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 76 days — a 6% lower offer ($240k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $211,134 (17.2% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 0.83% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.45%
• DSCR: 1.06
• GRM: 10.1

CMA / ARV

• ARV (median comp): $288,750
• List price: $255,000
• Delta: -11.69%
• 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
605 Jefferson St	0.00mi	3/2.0 (-1)	1,428 (0%)	0mo	$220,000	$154	95
210 Maple St	0.06mi	3/2.0 (-1)	1,378 (-4%)	0mo	$175,000	$127	86
318 Pinner St	0.72mi	4/2.0	1,443 (+1%)	3mo	$115,000	$80	62
524 Kissimmee Ave	0.51mi	3/2.5 (-1)	1,360 (-5%)	2mo	$260,000	$191	60
157 Hall Ave	0.49mi	3/2.5 (-1)	1,538 (+8%)	1mo	$290,000	$189	56
207 S 7th St	0.60mi	3/2.0 (-1)	1,338 (-6%)	2mo	$235,000	$176	55
407 Wilson Ct	0.74mi	4/2.5	1,495 (+5%)	1mo	$290,000	$194	54
302 N Capital St	0.57mi	3/2.5 (-1)	1,540 (+8%)	0mo	$320,000	$208	53
419 S Main St	0.70mi	3/1.0 (-1)	1,509 (+6%)	3mo	$255,000	$169	47
108 N 6th St	0.60mi	3/2.0 (-1)	1,224 (-14%)	1mo	$246,200	$201	42
213 N 5th St	0.55mi	3/2.5 (-1)	1,640 (+15%)	1mo	$325,000	$198	42
109 Woodrow Ave	0.69mi	3/2.5 (-1)	1,638 (+15%)	1mo	$345,000	$211	36

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: -11.2%
• Equity multiple: 0.58×
• Total profit: $-29,713
• Equity at exit: $38,021

10-year hold

• IRR: 1.4%
• Equity multiple: 1.11×
• Total profit: $7,853
• Equity at exit: $22,048

Cash invested: $71,400 (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: 10.1×

Monthly cashflow live

• Estimated rent: $2,111 high
• Mortgage (P&I): −$1,337
• Tax from tax record: −$138 /mo · $1,661/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $86

Break-even live

Break-even rent $2,002

Max offer price $255,000

Occupancy floor 91%

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 13 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
116 Franklin St Suffolk, VA	3.0	1.0	1335	$1,750	$1.31	23d	1	0.51mi
116 Franklin St Unit 3 Suffolk, VA	3.0	1.0	1335	$1,750	$1.31	43d	1	0.51mi
307 N 4th St Suffolk, VA	4.0	2.0	1600	$1,800	$1.12	7d	1	0.59mi
223 N 7th St Suffolk, VA	3.0	2.5	1495	$2,300	$1.54	43d	1	0.64mi
1341 Devonshire Ct Suffolk, VA	3.0	2.0	1795	$2,295	$1.28	14d	1	0.75mi
1341 Devonshire Ct Suffolk, VA	3.0	2.0	1800	$2,295	$1.27	4d	1	0.75mi
210 Baker St Suffolk, VA	3.0	1.0	988	$1,600	$1.62	43d	1	0.84mi
310 Greenfield Cres Suffolk, VA	3.0	2.0	1146	$1,995	$1.74	43d	1	0.91mi
315 Highland Ave Suffolk, VA	3.0	2.0	1580	$2,050	$1.30	23d	1	0.94mi
525 Kilby Ave Suffolk, VA	3.0	2.5	1776	$2,500	$1.41	23d	1	1.09mi
114 Nancy Dr Suffolk, VA	2.0–3.0	1.0	860	$1,450	$1.69	1d	4	1.13mi
1410 Blythewood Ln Suffolk, VA	4.0	1.5	1056	$1,800	$1.70	43d	1	1.38mi

Listing history 3 events

1. 2026-05-06
   historical Active Under Contract 79-char remark

   Show marketing remark (79 chars)

   3-bedroom 2-full bath brick ranch. Needs a little TLC but a great starter home!

2. 2026-04-20
   price $255,000 79-char remark

   Show marketing remark (79 chars)

   3-bedroom 2-full bath brick ranch. Needs a little TLC but a great starter home!

3. 2026-03-05
   listed $274,999 Active 79-char remark

   Show marketing remark (79 chars)

   3-bedroom 2-full bath brick ranch. Needs a little TLC but a great starter home!

ⓘ 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: $1,661 · $138/mo
• Projected year-2 tax: $2,091 · $174/mo
• Expected delta: +$430/yr (+$36/mo · 25.9%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 17 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: $25,336
• − Mortgage interest: −$14,284
• − Property taxes: −$1,661
• − Insurance: −$1,275
• − Repairs & maintenance: −$2,027
• − Management: −$2,027
• − Depreciation: −$7,418
• Taxable loss: −$3,355
• Est. tax savings @ 24.0%: +$805
• After-tax cash flow: $1,838/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

-7.3% since first listed

3 events — show timeline

• 2026-05-06 Contingent — REINMLS
• 2026-04-20 Price Changed $255,000 REINMLS
• 2026-03-05 Listed $274,999 REINMLS

Property tax history

+3.3%/yr

Latest (2025): $1,661 · +2.9% YoY. Source: county tax records.