1325 Buckhorn Dr

Suffolk, VA 23437

$349,900D-

3 bd · 1.0 ba · 1,649 sqft · Built 1920 · SingleFamily · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,846/mo
• Mortgage (P&I): −$1,835
• Tax + insurance: −$316
• HOA: −$0
• Vac / Maint / Mgmt: −$388
• Net cashflow: $-693/mo
• Annual: $-8,316/yr
• Cap rate: 3.92%
• Cash-on-cash: -8.49%
• DSCR: 0.62
• 1% rule: 0.53%
• Cash to close: $97,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $350k. Condition is rated fair.
• At list price, monthly cash flow is $-693 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (35.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (47.2% below list).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $185k (47.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• 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.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 67 active listings in the ZIP; 680 units permitted in Suffolk city in 2024 (0 in 5+ unit buildings).
• Suffolk County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts; this cycle's ask has dropped $20k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $86k; list at $350k implies a 309% gain — meaningful room to come down on a strong offer.
• 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.

Questions for listing agent

• 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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Significant damage and potential leaks.
• Moderate: siding — Weathered and in need of replacement.
• Major: flooring — Old and may need replacement.
• Major: interior walls/paint — Worn and may need repainting.
• Major: HVAC/mechanicals — Outdated and may need replacement or repair.