212 Grace St · Suffolk, VA 23434

$135,000

3 bd · 2.5 ba · 2,141 sqft · SingleFamily public records · 3 Days on market

Built 1900 Fair condition 6,534 sqft lot $63/sqft · 56% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Calling all cash investors! This downtown Suffolk diamond in the rough offers more than 2,000 square feet of opportunity. With no HOA fees and annual real estate taxes of approximately $1,418, this property provides an ideal canvas for a full renovation, investment flip, or rental property. Conveniently located near downtown shopping, dining, and local amenities, this home is ready for an investor with the vision to bring it back to life. Property is being sold as-is.

Key facts

• Rental property
• Investment flip
• No hoa fees

Tags

• NO HOA FEES
• FULL RENOVATION
• INVESTMENT FLIP
• RENTAL PROPERTY
• NEAR DOWNTOWN SHOPPING
• DINING

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $135k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $898 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 14.3% 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: Hillpoint Elementary (math 31% / reading 57%, grade F, #851 of 1,108 statewide, top 77%, 737 students, 65% 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 (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; 14 comparable units currently listed for rent nearby; rentals lingering (median 73d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 93% 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 $933 of loan paydown is wiped out by about $4k 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 $38k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 1900 — 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 $135,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.67% ✓
• Cap rate: 14.28%
• Cash-on-cash: 28.52%
• DSCR: 2.27
• GRM: 5.0

CMA / ARV

• ARV (median comp): $310,000
• List price: $135,000
• Delta: -56.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
217 N Saratoga St	0.21mi	3/3.0	1,936 (-10%)	3mo	$297,500	$154	70
118 Saint James Ave	0.62mi	3/2.5	2,264 (+6%)	2mo	$310,000	$137	60
117 N Lloyd St	0.65mi	4/2.5 (+1)	2,160 (+1%)	4mo	$359,000	$166	60
119 N Lloyd St	0.64mi	4/2.5 (+1)	2,160 (+1%)	5mo	$365,999	$169	59
103 Day St	0.41mi	3/2.5	1,840 (-14%)	2mo	$315,000	$171	56
1201 Coastline Ave	0.68mi	4/3.5 (+1)	2,165 (+1%)	3mo	$362,000	$167	55
107 Day St	0.43mi	3/2.5	1,840 (-14%)	4mo	$310,000	$168	53
207 Walnut St	0.68mi	4/2.5 (+1)	2,028 (-5%)	5mo	$300,000	$148	50
214 Knight St	0.66mi	3/1.5	1,900 (-11%)	0mo	$252,500	$133	46
805 Adams St	0.66mi	4/2.0 (+1)	1,908 (-11%)	4mo	$260,000	$136	40
214 Knight St	0.66mi	3/1.5	1,820 (-15%)	3mo	$145,000	$80	38
507 Dumville Ave	0.73mi	4/3.0 (+1)	2,446 (+14%)	0mo	$463,850	$190	35

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: 25.9%
• Equity multiple: 2.11×
• Total profit: $41,970
• Equity at exit: $20,129

10-year hold

• IRR: 35.2%
• Equity multiple: 4.68×
• Total profit: $139,050
• Equity at exit: $11,672

Cash invested: $37,800 (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: 15 active · 22 under contract
• Months of supply: 2.5 mo (40%/mo absorbed)
• Median asking: $310,000 ($157/sqft)
• Median days on market: 32 d
• This list price: 7% of active listings are priced below it
• ARV vs active asking: -7.6% 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: 5.0×

Monthly cashflow live

• Estimated rent: $2,254 high
• Mortgage (P&I): −$708
• Tax from tax record: −$118 /mo · $1,418/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $898

Break-even live

Break-even rent $1,117

Max offer price $135,000

Occupancy floor 55%

Sensitivity live

Price	-10% $975	-5% $937	+0% $898	+5% $860	+10% $822
Rent	-10% $720	-5% $809	+0% $898	+5% $987	+10% $1,076
Rate	-1.0pp $966	-0.5pp $933	base $898	+0.5pp $863	+1.0pp $828

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: $33,750
• Closing costs: $4,050
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
124 Halifax St Suffolk, VA	4.0	2.0	1728	$2,100	$1.22	93d	1	0.55mi
315 Highland Ave Suffolk, VA	3.0	2.0	1580	$2,050	$1.30	72d	1	0.58mi
307 N 4th St Suffolk, VA	4.0	2.0	1600	$1,800	$1.12	56d	1	0.66mi
990 Jefferson St Suffolk, VA	3.0	2.5	1608	$2,100	$1.31	41d	1	0.66mi
124 Linden Ave Suffolk, VA	4.0	2.5	2568	$2,795	$1.09	93d	1	0.70mi
223 N 7th St Suffolk, VA	3.0	2.5	1495	$2,300	$1.54	93d	1	0.83mi
213 Kilby Ave Suffolk, VA	3.0	2.5	1900	$2,495	$1.31	36d	1	0.85mi
808 Gittings St Suffolk, VA	4.0	2.5	2187	$2,500	$1.14	72d	1	0.94mi
525 Kilby Ave Suffolk, VA	3.0	2.5	1776	$2,500	$1.41	72d	1	1.01mi
621 Butler Ave Suffolk, VA	3.0	2.5	1760	$2,500	$1.42	72d	1	1.02mi
501 S 6th St Suffolk, VA	4.0	2.0	1400	$2,000	$1.43	17d	1	1.07mi
2072 Freeney Ave Suffolk, VA	3.0	2.5	1520	$2,100	$1.38	47d	1	1.26mi
1341 Devonshire Ct Suffolk, VA	3.0	2.0	1795	$2,295	$1.28	63d	1	1.33mi
1341 Devonshire Ct Suffolk, VA	3.0	2.0	1800	$2,295	$1.27	53d	1	1.33mi

Property features AI

Finance

• Other: Listed as fixer upper
• HOA & community: No HOA fees

Exterior

• Parking: Multiple car parkingDriveway spacesStreet parking
• Utilities: City/County waterCity/County sewer
• Home design: Detached single-family homeTraditional style2 storiesCrawlspace foundationSimple ownership
• Construction: Aluminum sidingAsphalt shingle roofCrawlspace foundation
• Exterior features: Corner lotAsphalt shingle roofAluminum siding

Interior

• Kitchen: Kitchen
• Bedrooms: Master bedroomAdditional bedroomBedroom with full bathroom on the first floor
• Flooring: Laminate flooringWood flooring
• Bathrooms: Three full bathrooms
• Interior features: Two fireplaces (wood-burning)Porch
• Laundry & utility: Utility room

Listing history 15 events

1. 2026-08-08
   days on market $135,000 Active 3 DOM
2. 2026-08-07
   days on market $135,000 Active 2 DOM
3. 2026-08-05
   remarks 472-char remark
4. 2026-08-05
   days on marketlisting id $135,000 Active 1 DOM
5. 2026-08-05
   days on market $135,000 Active 26 DOM
6. 2026-08-04
   status $135,000 Active 25 DOM
7. 2026-06-10
   status $135,000 Under Contract 25 DOM
8. 2026-06-09
   days on market $135,000 Active Under Contract 25 DOM
9. 2026-06-08
   days on market $135,000 Active Under Contract 24 DOM
10. 2026-06-07
    days on market $135,000 Active Under Contract 23 DOM
11. 2026-06-03
    days on market $135,000 Active Under Contract 19 DOM
12. 2026-06-02
    days on market $135,000 Active Under Contract 18 DOM
13. 2026-06-01
    days on market $135,000 Active Under Contract 17 DOM
14. 2026-05-31
    days on market $135,000 Active Under Contract 16 DOM
15. 2026-05-14
    listed $135,000 Active 112-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: $1,418 · $118/mo
• Projected year-2 tax: $1,418 · $118/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 1/10 Low
• 🌡 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: $27,049
• − Mortgage interest: −$7,562
• − Property taxes: −$1,418
• − Insurance: −$675
• − Repairs & maintenance: −$2,164
• − Management: −$2,164
• − Depreciation: −$3,927
• Taxable income: $9,139
• Est. tax owed @ 24.0%: −$2,193
• After-tax cash flow: $8,587/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 · 2 photos

Fair 45/100 Moderate rehab Est. rehab $53,525–$96,345 screening

This home requires significant repairs and maintenance, including a new roof, exterior painting and siding repair, landscaping, and HVAC system replacement. These improvements would significantly increase its resale and rental value.

Deferred maintenance Est. $40,000–$120,000 screening

• Major Roof (roof) — The roof appears to be in poor condition with visible damage and missing shingles.
• Major Windows (windows) — The windows appear to be old and possibly in need of replacement.
• Major Electrical (electrical) — The electrical panel is not visible, but the house appears old, suggesting potential issues.
• Major Plumbing (plumbing) — The house appears old, and plumbing issues are common in older homes.

Repairs flagged

• Major roof — Signs of wear and discoloration suggest significant damage.
• Major siding — Peeling paint and siding indicate extensive damage and need for replacement.
• Major flooring — Worn and in need of replacement.
• Major interior walls — Peeling paint and discoloration suggest significant damage and need for repainting or replacement.
• Major landscaping — Overgrown and in need of landscaping improvements.
• Major front porch — Appears to be in need of repair or replacement due to visible wear and damage.

Value-add opportunities

• Both roof replacement — A new roof would significantly improve the home's appearance and increase its value for both resale and rental. ↑
• Both exterior painting and siding repair — A fresh coat of paint and repair of the siding would greatly enhance the home's curb appeal and value. ↑
• Both landscaping and front porch repair — A well-maintained front yard and porch would improve the home's curb appeal and attract more potential buyers or renters. ↑
• Both HVAC system replacement — A new HVAC system would improve comfort and energy efficiency, making the home more attractive to buyers and renters. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 50/100

Zoned Schools

Elementary Hillpoint Elementary F VA #851/1,108 Nat'l #17,190/41,679 Middle King's Fork Middle D+ VA #257/342 Nat'l #4,159/14,009 High King's Fork High C+ VA #244/319 Nat'l #3,510/17,239

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

• Other: Listed as fixer upper
• HOA & community: No HOA fees

Exterior

• Parking: Multiple car parkingDriveway spacesStreet parking
• Utilities: City/County waterCity/County sewer
• Home design: Detached single-family homeTraditional style2 storiesCrawlspace foundationSimple ownership
• Construction: Aluminum sidingAsphalt shingle roofCrawlspace foundation
• Exterior features: Corner lotAsphalt shingle roofAluminum siding

Interior

• Kitchen: Kitchen
• Bedrooms: Master bedroomAdditional bedroomBedroom with full bathroom on the first floor
• Flooring: Laminate flooringWood flooring
• Bathrooms: Three full bathrooms
• Interior features: Two fireplaces (wood-burning)Porch
• Laundry & utility: Utility room

Price history

+0.0% since first listed

6 events — show timeline

• 2026-08-05 Listing Removed — REINMLS
• 2026-08-05 Listed $135,000 REINMLS
• 2026-08-04 Relisted — REINMLS
• 2026-06-09 Pending — REINMLS
• 2026-05-26 Contingent — REINMLS
• 2026-05-14 Listed $135,000 REINMLS

Property tax history

+3.7%/yr

Latest (2025): $1,418 · +2.9% YoY. Source: county tax records.