209 Spruce St · Suffolk, VA 23434

$180,000

3 bd · 1.0 ba · 1,548 sqft · SingleFamily public records · 4 Days on market

Built 1754 6,969 sqft lot Est $293k · 38% 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 +27.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• 1% rule +6.4/10.0
• 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

Don't miss out on the charm and character of this 3-bedroom, 2-bath home in Suffolk. Start the mornings or end the days on a classic front porch that's perfect for morning coffee, relaxing evenings, or greeting neighbors as they pass by. Inside, the foyer creates a warm first impression that leads you to the eat-in kitchen, a downstairs bedroom and two living areas; the second one provides flexibility for a family room, media room, playroom, or home office. The layout offers privacy and convenience for a variety of living arrangements. Upstairs, two generously sized bedrooms share access to their own private full bathroom. In your new backyard, you will have two oversized storage buildings.

Key facts

• Entertaining space
• Front porch
• Two living areas

Tags

• FRONT PORCH
• EAT-IN KITCHEN
• TWO LIVING AREAS
• PRIVATE FULL BATHROOM
• OVERSIZED STORAGE BUILDINGS
• ENTERTAINING SPACE

Property features AI

Finance

• HOA & community: No HOA (fees listed as 0)

Exterior

• Parking: Carport; Driveway spaces; Street parking
• Utilities: City/County water; City/County sewer; Electric water heater; Electric power
• Home design: Detached traditional-style home; 2 stories with 2 living levels; Crawl foundation
• Construction: Aluminum and vinyl siding; Composite roof
• Exterior features: Deck; Partial fence; Detached workshop; Storage shed

Interior

• Kitchen: Dishwasher
• Bedrooms: Bedroom and full bathroom on first floor; Total rooms: 6 (includes bedrooms and other rooms)
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced hot air heating; Central air conditioning
• Interior features: Decorative fireplace; Window treatments; Ceiling fan; Cable hookup
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $524 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 9.8% 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); 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); solid renter incomes; 680 units permitted in Suffolk city in 2024 (0 in 5+ unit buildings).
• This rent runs 31% 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 $50k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1754 — 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 $180,000

Questions for the listing agent

1. Built in 1754 — 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: 1.14% ✓
• Cap rate: 9.79%
• Cash-on-cash: 12.49%
• DSCR: 1.56
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $292,572
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
157 Hall Ave	0.22mi	3/2.5	1,538 (-1%)	1mo	$290,000	$189	82
419 S Main St	0.45mi	3/1.0	1,509 (-2%)	3mo	$255,000	$169	72
605 Jefferson St	0.29mi	3/2.0	1,428 (-8%)	0mo	$220,000	$154	69
210 Maple St	0.35mi	3/2.0	1,378 (-11%)	0mo	$175,000	$127	61
501 Mahlon Ave	0.41mi	3/2.5	1,670 (+8%)	2mo	$315,000	$189	60
109 Woodrow Ave	0.52mi	3/2.5	1,638 (+6%)	1mo	$345,000	$211	59
302 N Capital St	0.73mi	3/2.5	1,540 (-0%)	0mo	$320,000	$208	59
203 Saint James Ave	0.72mi	3/2.0	1,592 (+3%)	2mo	$270,000	$170	56
207 Saint James Ave	0.72mi	3/2.5	1,592 (+3%)	2mo	$315,000	$198	54
114 Lewis Ave	0.53mi	3/2.5	1,760 (+14%)	2mo	$319,900	$182	45
524 Kissimmee Ave	0.60mi	3/2.5	1,360 (-12%)	2mo	$260,000	$191	44
433 Wellons St	0.67mi	3/2.5	1,360 (-12%)	0mo	$303,000	$223	42

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: 5.1%
• Equity multiple: 1.20×
• Total profit: $10,231
• Equity at exit: $26,839

10-year hold

• IRR: 16.8%
• Equity multiple: 2.55×
• Total profit: $78,014
• Equity at exit: $15,563

Cash invested: $50,400 (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: 7.3×

Monthly cashflow live

• Estimated rent: $2,059 high
• Mortgage (P&I): −$944
• Tax from tax record: −$83 /mo · $999/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $524

Break-even live

Break-even rent $1,395

Max offer price $180,000

Occupancy floor 70%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 Franklin St Unit 3 Suffolk, VA	3.0	1.0	1335	$1,750	$1.31	44d	1	0.31mi
116 Franklin St Suffolk, VA	3.0	1.0	1335	$1,750	$1.31	24d	1	0.31mi
124 Halifax St Suffolk, VA	4.0	2.0	1728	$2,100	$1.22	44d	1	0.45mi
181 N Main St Suffolk, VA	2.0	1.0–2.0	804	$1,885	$2.34	2d	15	0.46mi
307 N 4th St Suffolk, VA	4.0	2.0	1600	$1,800	$1.12	8d	1	0.74mi
310 Greenfield Cres Suffolk, VA	3.0	2.0	1146	$1,995	$1.74	44d	1	0.76mi
525 Kilby Ave Suffolk, VA	3.0	2.5	1776	$2,500	$1.41	24d	1	0.84mi
223 N 7th St Suffolk, VA	3.0	2.5	1495	$2,300	$1.54	44d	1	0.85mi
315 Highland Ave Suffolk, VA	3.0	2.0	1580	$2,050	$1.30	24d	1	0.92mi
1341 Devonshire Ct Suffolk, VA	3.0	2.0	1795	$2,295	$1.28	15d	1	0.96mi
1341 Devonshire Ct Suffolk, VA	3.0	2.0	1800	$2,295	$1.27	4d	1	0.96mi
808 Gittings St Suffolk, VA	4.0	2.5	2187	$2,500	$1.14	24d	1	1.07mi
621 Butler Ave Suffolk, VA	3.0	2.5	1760	$2,500	$1.42	24d	1	1.37mi

Listing history 3 events

1. 2026-06-15
   days on market $180,000 Active 4 DOM
2. 2026-06-13
   remarks 699-char remark
3. 2026-06-13
   listed $180,000 Active 2 DOM

ⓘ 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: $999 · $83/mo
• Projected year-2 tax: $1,476 · $123/mo
• Expected delta: +$477/yr (+$40/mo · 47.7%)

ⓘ 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 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: $24,709
• − Mortgage interest: −$10,083
• − Property taxes: −$999
• − Insurance: −$900
• − Repairs & maintenance: −$1,977
• − Management: −$1,977
• − Depreciation: −$5,236
• Taxable income: $3,537
• Est. tax owed @ 24.0%: −$849
• After-tax cash flow: $5,445/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

1 event — show timeline

• 2026-06-11 Listed $180,000 REINMLS

Property tax history

+10.2%/yr

Latest (2025): $999 · +2.2% YoY. Source: county tax records.