412 Pleasant St · Suffolk, VA 23434

$169,000

2 bd · 1.0 ba · 756 sqft · SingleFamily public records · 3 Days on market

Built 1940 $224/sqft · 7% below area Est $181k · 7% under ↓ 52% 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 +18.7/30.0
• ARV discount +10.6/15.0
• DSCR +5.9/10.0
• Schools +4.8/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity! Two updated homes in the heart of Suffolk for sale. 412 Pleasant St. must be sold together with 416 Pleasant St. and the adjoining land parcels (L. 148,PLEASANT HILL, L 146, PLEASANT HILL, and REAR PLEASANT ST DIXIE GUANO CO). These properties have served as rental homes in previous years and offer strong investment potential. Both homes have recent updates and sit on spacious lots with ample yard space. Properties are being sold as-is.

Key facts

• Spacious backyard
• Adjoining lot
• Built 1940

Tags

• SPACIOUS BACKYARD
• ADJOINING LOT
• ADDITIONAL OUTDOOR SPACE

Property features AI

Finance

• HOA & community: No HOA fees

Exterior

• Parking: Driveway parking spaces
• Utilities: City/County water; Septic sewer; Electric water heater
• Home design: Detached traditional home; One-story; Crawl foundation; Simple ownership
• Construction: Asphalt shingle roof
• Exterior features: Vinyl siding; Partial chain-link fence; Porch

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher
• Bedrooms: Master bedroom on the 1st floor; First floor bedroom
• Flooring: Ceramic flooring; Laminate flooring
• Bathrooms: 1 full bathroom; 1 half bathroom; Full bathroom on main level
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Walk-in closet
• Laundry & utility: Washer hookup; Dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $166 ($2k/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 $148k (12.3% below list).
• Recommended offer: $148k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 7.5% 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: Booker T. Washington Elementary (math 27% / reading 47%, grade F, #933 of 1,108 statewide, top 86%, 355 students, 64% FRL); Lakeland High (math 33% / reading 77%, grade C, #279 of 319 statewide, top 88%, 1,083 students, 64% 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); 546 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).

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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 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

• Watch-outs: built in 1940 — 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 $148,294 (12.3% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.88% ✗
• Cap rate: 7.47%
• Cash-on-cash: 4.21%
• DSCR: 1.19
• GRM: 9.5

CMA / ARV

• ARV (median comp): $181,395
• List price: $169,000
• Delta: 95.71%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
527 Kissimmee Ave	0.19mi	2/1.0	745 (-2%)	5mo	$189,900	$255	84
305 Pleasant St	0.12mi	2/1.5	720 (-5%)	3mo	$210,000	$292	82
301 Webb St	0.21mi	2/1.0	715 (-5%)	9mo	$180,000	$252	74
220 Charlotte Ave	0.19mi	2/1.0	673 (-11%)	3mo	$155,000	$230	71
402 Roy St	0.14mi	3/1.0 (+1)	840 (+11%)	3mo	$135,000	$161	67
402 Webb St	0.09mi	3/1.0 (+1)	840 (+11%)	10mo	$143,750	$171	64
204 Woodrow Ave	0.27mi	3/1.0 (+1)	840 (+11%)	10mo	$140,000	$167	56

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: -7.0%
• Equity multiple: 0.74×
• Total profit: $-12,527
• Equity at exit: $25,198

10-year hold

• IRR: 5.5%
• Equity multiple: 1.45×
• Total profit: $21,353
• Equity at exit: $14,612

Cash invested: $47,320 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,483 high
• Mortgage (P&I): −$886
• Tax from tax record: −$49 /mo · $585/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $166

Break-even live

Break-even rent $1,273

Max offer price $169,000

Occupancy floor 84%

Sensitivity live

Price	-10% $262	-5% $214	+0% $166	+5% $118	+10% $70
Rent	-10% $49	-5% $108	+0% $166	+5% $225	+10% $283
Rate	-1.0pp $251	-0.5pp $209	base $166	+0.5pp $122	+1.0pp $78

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
210 Baker St Suffolk, VA	3.0	1.0	988	$1,600	$1.62	45d	1	0.24mi
114 Nancy Dr Suffolk, VA	2.0–3.0	1.0	860	$1,195	$1.39	2d	4	0.55mi
326 E Washington St Suffolk, VA	2.0	2.0	839	$1,629	$1.94	4d	1	0.84mi
408 Wellons St Suffolk, VA	1.0	1.0	750	$1,486	$1.98	2d	3	0.89mi
303 Bank St Unit C Suffolk, VA	1.0	1.0	650	$1,100	$1.69	24d	1	0.93mi
308 Saint James Ave Unit B Suffolk, VA	2.0	1.0	936	$1,295	$1.38	24d	1	0.98mi
181 N Main St Suffolk, VA	2.0	1.0–2.0	804	$1,885	$2.34	2d	15	1.04mi
410 Bosley Ave Unit B Suffolk, VA	2.0	1.0	850	$1,095	$1.29	11d	1	1.10mi
307 Central Ave Suffolk, VA	3.0	1.0	840	$1,700	$2.02	45d	1	1.17mi
214 N 7th St Unit NA Suffolk, VA	2.0	1.0	760	$1,500	$1.97	24d	1	1.27mi
558 1st Ave Suffolk, VA	2.0	1.5	1000	$1,250	$1.25	45d	1	1.35mi
564 1st Ave Suffolk, VA	2.0	1.0	1000	$1,100	$1.10	45d	1	1.35mi
120 S 10th St Suffolk, VA	2.0	1.0	736	$1,250	$1.70	45d	1	1.37mi
806 W Washington St Unit 112 Suffolk, VA	2.0	2.0	900	$1,325	$1.47	18d	1	1.42mi

Listing history 15 events

1. 2026-06-21
   days on market $169,000 Active 3 DOM
2. 2026-06-18
   pricedays on marketlisting id $169,000 Active 1 DOM
3. 2026-06-18
   days on market $355,000 Active 96 DOM
4. 2026-06-17
   days on market $355,000 Active 95 DOM
5. 2026-06-16
   days on market $355,000 Active 94 DOM
6. 2026-06-15
   days on market $355,000 Active 93 DOM
7. 2026-06-13
   days on market $355,000 Active 91 DOM
8. 2026-06-09
   days on market $355,000 Active 87 DOM
9. 2026-06-08
   days on market $355,000 Active 86 DOM
10. 2026-06-07
    days on market $355,000 Active 85 DOM
11. 2026-06-03
    days on market $355,000 Active 81 DOM
12. 2026-06-02
    days on market $355,000 Active 80 DOM
13. 2026-06-01
    days on market $355,000 Active 79 DOM
14. 2026-05-31
    days on market $355,000 Active 78 DOM
15. 2026-03-14
    listed $355,000 Active 461-char remark

ⓘ 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: $585 · $49/mo
• Projected year-2 tax: $1,386 · $115/mo
• Expected delta: +$801/yr (+$67/mo · 136.8%)

ⓘ 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: $17,795
• − Mortgage interest: −$9,467
• − Property taxes: −$585
• − Insurance: −$845
• − Repairs & maintenance: −$1,424
• − Management: −$1,424
• − Depreciation: −$4,916
• Taxable loss: −$865
• Est. tax savings @ 24.0%: +$208
• After-tax cash flow: $2,201/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

-52.4% since first listed

3 events — show timeline

• 2026-06-18 Listed $169,000 REINMLS
• 2026-06-18 Listing Removed — REINMLS
• 2026-03-14 Listed $355,000 REINMLS

Property tax history

+5.6%/yr

Latest (2025): $585 · +1.7% YoY. Source: county tax records.