923 Teton Cir #110 · Suffolk, VA 23435

$225,900

3 bd · 2.5 ba · 1,800 sqft · Condo public records · 91 Days on market

Built 2007 $126/sqft · 23% below area Est $293k · 23% under $204/mo HOA · 8% of rent

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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 +22.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +6.7/10.0
• Rent growth +5.0/5.0
• Schools +4.8/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home! This spacious 3-bedroom, 2.5-bath townhouse-style condo is located in the heart of Suffolk. Offering approximately 1,800 sq ft of living space, the home provides plenty of room for comfortable living and entertaining. A great opportunity to add your personal touches and make it your own. Call today for more information and to schedule your tour!

Key facts

• $204 HOA
• Parking
• Built 2007

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $226k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $226k).
• Recommended offer: $206k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 (+10.6%/yr); 507 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $2k of loan paydown is wiped out by about $7k 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 + 8.0% rent growth), your $63k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($206k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y ago; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $170k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $205,569 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.17% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.15%
• DSCR: 1.32
• GRM: 7.1

CMA / ARV

• ARV (median comp): $292,710
• List price: $225,900
• Delta: -22.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 0.6%
• Equity multiple: 1.02×
• Total profit: $1,446
• Equity at exit: $33,682

10-year hold

• IRR: 15.0%
• Equity multiple: 2.52×
• Total profit: $96,060
• Equity at exit: $19,532

Cash invested: $63,252 (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 23435

• Rents YoY: 10.6%
• Active inventory: 507
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,635 high
• Mortgage (P&I): −$1,185
• Tax from tax record: −$222 /mo · $2,664/yr
• Insurance: −$94
• HOA: −$204
• Vacancy / Maint / Mgmt: −$553
• Net cashflow: $377

Break-even live

Break-even rent $2,158

Max offer price $225,900

Occupancy floor 81%

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: $56,475
• Closing costs: $6,777
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
604 Teton Cir Suffolk, VA	3.0	2.5	1701	$2,500	$1.47	12d	1	0.07mi
2113 Livingston St Suffolk, VA	3.0	2.5	1770	$2,750	$1.55	4d	1	0.09mi
3111 Burlington St Suffolk, VA	3.0	2.5	1638	$2,700	$1.65	21d	1	0.11mi
2230 Livingston St Suffolk, VA	3.0	2.5	1767	$2,500	$1.41	7d	1	0.19mi
2230 Livingston St Suffolk, VA	3.0	2.5	1659	$2,500	$1.51	4d	1	0.19mi
1005 Opal St #105 Suffolk, VA	3.0	2.5	2259	$2,700	$1.20	43d	1	0.83mi
2003 Laycock Ln Suffolk, VA	3.0	2.5	1771	$2,500	$1.41	43d	1	0.94mi
2207 Tuliptree Cir Suffolk, VA	4.0	2.5	2313	$2,900	$1.25	11d	1	1.12mi
1005 Serene Rd #103 Suffolk, VA	4.0	3.5	2071	$2,900	$1.40	4d	1	1.17mi
371 Canaan Cir Suffolk, VA	4.0	2.5	2132	$3,200	$1.50	43d	1	1.20mi

HOA detail condo

• Monthly dues: $204 · $2,448/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-07
   statusdays on market $225,900 Under Contract 91 DOM
2. 2026-06-03
   days on market $225,900 Active 89 DOM
3. 2026-06-02
   days on market $225,900 Active 88 DOM
4. 2026-06-01
   days on market $225,900 Active 87 DOM
5. 2026-05-31
   days on market $225,900 Active 86 DOM
6. 2026-05-14
   status Active 361-char remark

   Show marketing remark (361 chars)

   Welcome home! This spacious 3-bedroom, 2.5-bath townhouse-style condo is located in the heart of Suffolk. Offering approximately 1,800 sq ft of living space, the home provides plenty of room for comfortable living and entertaining. A great opportunity to add your personal touches and make it your own. Call today for more information and to schedule your tour!

7. 2026-05-11
   historical 361-char remark

   Show marketing remark (361 chars)

   Welcome home! This spacious 3-bedroom, 2.5-bath townhouse-style condo is located in the heart of Suffolk. Offering approximately 1,800 sq ft of living space, the home provides plenty of room for comfortable living and entertaining. A great opportunity to add your personal touches and make it your own. Call today for more information and to schedule your tour!

8. 2026-05-08
   price $225,900 361-char remark

   Show marketing remark (361 chars)

   Welcome home! This spacious 3-bedroom, 2.5-bath townhouse-style condo is located in the heart of Suffolk. Offering approximately 1,800 sq ft of living space, the home provides plenty of room for comfortable living and entertaining. A great opportunity to add your personal touches and make it your own. Call today for more information and to schedule your tour!

9. 2026-04-28
   status Active 361-char remark

   Show marketing remark (361 chars)

   Welcome home! This spacious 3-bedroom, 2.5-bath townhouse-style condo is located in the heart of Suffolk. Offering approximately 1,800 sq ft of living space, the home provides plenty of room for comfortable living and entertaining. A great opportunity to add your personal touches and make it your own. Call today for more information and to schedule your tour!

10. 2026-04-09
    status Under Contract 361-char remark

    Show marketing remark (361 chars)

    Welcome home! This spacious 3-bedroom, 2.5-bath townhouse-style condo is located in the heart of Suffolk. Offering approximately 1,800 sq ft of living space, the home provides plenty of room for comfortable living and entertaining. A great opportunity to add your personal touches and make it your own. Call today for more information and to schedule your tour!

11. 2026-02-10
    listed $250,900 Active 361-char remark

    Show marketing remark (361 chars)

    Welcome home! This spacious 3-bedroom, 2.5-bath townhouse-style condo is located in the heart of Suffolk. Offering approximately 1,800 sq ft of living space, the home provides plenty of room for comfortable living and entertaining. A great opportunity to add your personal touches and make it your own. Call today for more information and to schedule your tour!

12. 2023-08-29
    status Under Contract
13. 2023-08-17
    listed $229,500 Active
14. 2019-12-12
    historical
15. 2019-11-20
    soldstatus $170,000
16. 2019-08-20
    historical Active Under Contract
17. 2019-07-29
    price $170,000
18. 2019-07-03
    price $175,000
19. 2019-06-12
    listed $180,000 Active
20. 2019-03-12
    historical
21. 2019-01-25
    price $189,999
22. 2019-01-03
    listed $195,000 Active

ⓘ 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: $2,664 · $222/mo
• Projected year-2 tax: $2,664 · $222/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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°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: $31,619
• − Mortgage interest: −$12,654
• − Property taxes: −$2,664
• − Insurance: −$1,130
• − Repairs & maintenance: −$2,530
• − Management: −$2,530
• − HOA: −$2,448
• − Depreciation: −$6,572
• Taxable income: $1,093
• Est. tax owed @ 24.0%: −$262
• After-tax cash flow: $4,259/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): 33,721
• Household income: $111,700
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1074.0

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 0.64)
• Race & ethnicity: White 47% Black 36% Two or more races 9% Hispanic / Latino 6% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 2% Italian 2% Slovak 1%
• Foreign-born: 6% · Canada, Vietnam, China
• Languages at home: 91% English-only · Spanish 4% Chinese 1% German/W. Germanic 1%

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: ▼ -155.93%
• Current HPI: 162.3775
• Rent YoY: ▲ 10.61%
• 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

+15.8% since first listed

17 events — show timeline

• 2026-05-14 Relisted — REINMLS
• 2026-05-11 Listing Removed — REINMLS
• 2026-05-08 Price Changed $225,900 REINMLS
• 2026-04-28 Relisted — REINMLS
• 2026-04-09 Pending — REINMLS
• 2026-02-10 Listed $250,900 REINMLS
• 2023-08-29 Pending — REINMLS
• 2023-08-17 Listed $229,500 REINMLS
• 2019-12-12 Listing Removed — REINMLS
• 2019-11-20 Sold (Public Records) $170,000 Public Records
• 2019-08-20 Contingent — REINMLS
• 2019-07-29 Price Changed $170,000 REINMLS
• 2019-07-03 Price Changed $175,000 REINMLS
• 2019-06-12 Listed $180,000 REINMLS
• 2019-03-12 Listing Removed — REINMLS
• 2019-01-25 Price Changed $189,999 REINMLS
• 2019-01-03 Listed $195,000 REINMLS

Property tax history

+3.2%/yr

Latest (2025): $2,664 · +6.8% YoY. Source: county tax records.