Beethoven Plan · Suffolk, VA 23434

$249,990

3 bd · 2.0 ba · 1,280 sqft · Townhouse · 86 Days on market

Good condition

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Why this score? — see what drove the D- 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 +9.8/30.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Rent growth +4.0/5.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• 1% rule +2.9/10.0
• DSCR +2.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Modern Open Concept and an abundance of natural light make the Beethoven a townhome that feels like a single-family home. Entering in through the living room, flowing into the kitchen, with included 8ft island, provides plenty of room for cooking and entertaining. Don't forget to add the optional powder room. Upstairs are two addition bedrooms, a hall bath with shower/tub combination, and a generous Owner's Bedroom that features a tray ceiling and a walk-in closet. A separate Owner's Bath features a dual vanity and seated tile showerheads. This home checks all the boxes here at Reids Place! Create the space with personal touches like metal finishes, cabinet colors and counter top upgrades!

Key facts

• Open concept
• Walk-in closet
• Dual vanity

Tags

• OPEN CONCEPT
• NATURAL LIGHT
• 8FT ISLAND
• WALK-IN CLOSET
• DUAL VANITY
• SEATED TILE SHOWERHEADS

🏗️ New construction. The $249,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $283,145.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $250k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-181 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (10.1% below list).
• Recommended offer: $225k (10.1% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.6% 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: Mack Benn Jr. Elementary (math 27% / reading 50%, grade F, #924 of 1,108 statewide, top 84%, 684 students, 66% FRL); John F. Kennedy Middle (math 22% / reading 61%, grade F, #299 of 342 statewide, top 88%, 544 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); 710 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 67d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% 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 34% 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 86 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.

Recommended offer $224,814 (10.1% below list)

Questions for the listing agent

1. 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?
2. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
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. 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?
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 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: 0.79% ✗
• Cap rate: 5.53%
• Cash-on-cash: -2.74%
• DSCR: 0.88
• GRM: 10.5

CMA / ARV

• ARV (median comp): $283,145
• List price: $249,990
• Delta: -11.71%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
208 Reids Place Dr	0.04mi	3/2.0	1,280 (0%)	0mo	$277,065	$216	98
203 Reids Place Dr	0.05mi	3/2.0	1,280 (0%)	2mo	$281,775	$220	96
216 Reids Place Dr	0.03mi	3/2.0	1,280 (0%)	3mo	$269,475	$211	96
202 Reids Place Dr	0.05mi	3/2.0	1,280 (0%)	2mo	$254,098	$199	96
219 Reids Place Dr	0.04mi	3/2.5	1,280 (0%)	1mo	$295,000	$230	96
209 Reids Place Dr	0.04mi	3/2.5	1,280 (0%)	1mo	$302,490	$236	95
207 Reids Place Dr	0.04mi	3/2.5	1,280 (0%)	1mo	$284,515	$222	95
215 Reids Place Dr	0.06mi	3/2.5	1,280 (0%)	1mo	$272,580	$213	94
205 Reids Place Dr	0.05mi	3/2.5	1,280 (0%)	2mo	$285,490	$223	94
206 Reids Place Dr	0.04mi	3/2.5	1,280 (0%)	2mo	$251,712	$197	94
201 Reids Place Dr	0.05mi	3/2.5	1,280 (0%)	2mo	$291,675	$228	94
107 Margaret Reid Pkwy	0.36mi	3/2.5	1,280 (0%)	1mo	$309,990	$242	80

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: -17.7%
• Equity multiple: 0.36×
• Total profit: $-50,752
• Equity at exit: $42,218

10-year hold

• IRR: -5.2%
• Equity multiple: 0.62×
• Total profit: $-30,140
• Equity at exit: $24,481

Cash invested: $79,281 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 7 active · 35 under contract
• Months of supply: 2.2 mo (45%/mo absorbed)
• Median asking: $289,990 ($227/sqft)
• Median days on market: 25 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -2.4% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 23434

• Rents YoY: 5.8%
• Active inventory: 710
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,248 high
• Mortgage (P&I): −$1,485
• Tax est. 1.5%: −$354 /mo · $4,247/yr
• Insurance: −$118
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $-181

Break-even live

Break-even rent $2,477

Max offer price $256,994

Occupancy floor —

Sensitivity live

Price	-10% $15	-5% $-83	+0% $-181	+5% $-279	+10% $-376
Rent	-10% $-358	-5% $-270	+0% $-181	+5% $-92	+10% $-3
Rate	-1.0pp $-38	-0.5pp $-109	base $-181	+0.5pp $-254	+1.0pp $-329

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: $70,786
• Closing costs: $8,494
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
206 Reid's Place Dr Suffolk, VA	3.0	2.5	1280	$2,200	$1.72	53d	1	0.05mi
202 Reid's Place Dr Suffolk, VA	3.0	2.5	1280	$2,280	$1.78	22d	1	0.06mi
206 Reid's Place Dr Unit 206 Suffolk, VA	3.0	2.5	1280	$2,300	$1.80	66d	1	0.07mi
803 Haskins Dr Suffolk, VA	3.0	2.0	1653	$2,400	$1.45	73d	1	0.23mi
827 Haskins Dr Suffolk, VA	3.0	3.0	1794	$2,600	$1.45	93d	1	0.32mi
113 Crocker St Suffolk, VA	4.0	2.5	1708	$2,695	$1.58	66d	1	0.44mi
1144 Portsmouth Blvd Suffolk, VA	2.0–3.0	2.0	1039	$2,107	$2.03	11d	54	0.66mi
1410 Blythewood Ln Suffolk, VA	4.0	1.5	1056	$1,800	$1.70	93d	1	0.72mi
2072 Freeney Ave Suffolk, VA	3.0	2.5	1520	$2,100	$1.38	47d	1	0.73mi
223 N 7th St Suffolk, VA	3.0	2.5	1495	$2,300	$1.54	93d	1	1.05mi
115 C St Suffolk, VA	3.0	2.5	1576	$1,995	$1.27	61d	1	1.08mi
307 N 4th St Suffolk, VA	4.0	2.0	1600	$1,800	$1.12	56d	1	1.13mi
315 Highland Ave Suffolk, VA	3.0	2.0	1580	$2,050	$1.30	73d	1	1.22mi
501 S 6th St Suffolk, VA	4.0	2.0	1400	$2,000	$1.43	17d	1	1.38mi
124 Halifax St Suffolk, VA	4.0	2.0	1728	$2,100	$1.22	93d	1	1.44mi

Property features AI

Finance

• Financial info: List price $269,990

Exterior

• Home design: Beethoven plan (new construction plan)Active listing
• Exterior features: Living area approximately 1280

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Central air conditioning

Listing history 50 events

1. 2026-08-08
   days on market $249,990 Active 86 DOM
2. 2026-08-07
   days on market $249,990 Active 85 DOM
3. 2026-08-06
   days on market $249,990 Active 84 DOM
4. 2026-08-05
   days on market $249,990 Active 83 DOM
5. 2026-08-04
   days on market $249,990 Active 82 DOM
6. 2026-08-03
   days on market $249,990 Active 81 DOM
7. 2026-07-31
   days on market $249,990 Active 78 DOM
8. 2026-07-30
   days on market $249,990 Active 76 DOM
9. 2026-07-28
   days on market $249,990 Active 75 DOM
10. 2026-07-26
    days on market $249,990 Active 73 DOM
11. 2026-07-24
    days on market $249,990 Active 71 DOM
12. 2026-07-23
    days on market $249,990 Active 70 DOM
13. 2026-07-22
    days on market $249,990 Active 69 DOM
14. 2026-07-21
    days on market $249,990 Active 68 DOM
15. 2026-07-20
    days on market $249,990 Active 67 DOM
16. 2026-07-18
    days on market $249,990 Active 65 DOM
17. 2026-07-18
    days on market $249,990 Active 64 DOM
18. 2026-07-16
    days on market $249,990 Active 63 DOM
19. 2026-07-15
    days on market $249,990 Active 62 DOM
20. 2026-07-14
    days on market $249,990 Active 61 DOM
21. 2026-07-13
    days on market $249,990 Active 60 DOM
22. 2026-07-13
    days on market $249,990 Active 59 DOM
23. 2026-07-11
    days on market $249,990 Active 58 DOM
24. 2026-07-10
    days on market $249,990 Active 57 DOM
25. 2026-07-09
    days on market $249,990 Active 56 DOM
26. 2026-07-07
    days on market $249,990 Active 54 DOM
27. 2026-07-06
    days on market $249,990 Active 53 DOM
28. 2026-07-05
    days on market $249,990 Active 52 DOM
29. 2026-07-03
    days on market $249,990 Active 50 DOM
30. 2026-07-02
    days on market $249,990 Active 49 DOM
31. 2026-07-01
    days on market $249,990 Active 48 DOM
32. 2026-06-30
    days on market $249,990 Active 47 DOM
33. 2026-06-29
    days on market $249,990 Active 46 DOM
34. 2026-06-28
    days on market $249,990 Active 45 DOM
35. 2026-06-27
    days on market $249,990 Active 44 DOM
36. 2026-06-27
    days on market $249,990 Active 43 DOM
37. 2026-06-25
    days on market $249,990 Active 41 DOM
38. 2026-06-22
    days on market $249,990 Active 39 DOM
39. 2026-06-21
    days on market $249,990 Active 38 DOM
40. 2026-06-18
    days on market $249,990 Active 35 DOM
41. 2026-06-17
    days on market $249,990 Active 34 DOM
42. 2026-06-16
    days on market $249,990 Active 33 DOM
43. 2026-06-15
    pricedays on market $249,990 Active 32 DOM
44. 2026-06-13
    pricedays on market $199,990 Active 30 DOM
45. 2026-06-09
    days on market $259,990 Active 26 DOM
46. 2026-06-08
    days on market $259,990 Active 25 DOM
47. 2026-06-07
    days on market $259,990 Active 24 DOM
48. 2026-06-03
    days on market $259,990 Active 20 DOM
49. 2026-06-02
    days on market $259,990 Active 19 DOM
50. 2026-06-01
    days on market $259,990 Active 18 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $26,978
• − Mortgage interest: −$15,861
• − Property taxes: −$4,247
• − Insurance: −$1,416
• − Repairs & maintenance: −$2,158
• − Management: −$2,158
• − Depreciation: −$8,237
• Taxable loss: −$7,099
• Est. tax savings @ 24.0%: +$1,704
• After-tax cash flow: $-465/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.

Condition & rehab AI · 6 photos

Good 80/100 None rehab

This modern townhouse is in excellent condition with a good condition score of 80. It has a good kitchen, bathrooms, and exterior. The home is move-in ready and has a good resale and rental value. Consider painting the exterior and interior, landscaping improvements, adding smart home features, and upgrading the kitchen appliances to further increase its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can boost curb appeal and attract potential buyers/tenants. ↑
• Both Adding smart home features — Smart home features can increase convenience and appeal to tech-savvy buyers/tenants. ↑
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and attractive to potential buyers/tenants. ↑

F Composite school gradezoned avg 45/100

Zoned Schools

Elementary Mack Benn Jr. Elementary F VA #924/1,108 Nat'l #20,973/41,679 Middle John F. Kennedy Middle F VA #299/342 Nat'l #5,602/14,009 High Lakeland High C VA #279/319 Nat'l #4,413/17,239

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

B Composite livability gradescore 77/100

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 · 95,269 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: 11% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• Financial info: List price $269,990

Exterior

• Home design: Beethoven plan (new construction plan)Active listing
• Exterior features: Living area approximately 1280

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Central air conditioning