216 Grace St · Suffolk, VA 23434

$295,000

6 bd · 2.0 ba · 2,484 sqft · SingleFamily public records · 69 Days on market

Built 1930 $119/sqft · 16% above area Est $262k · 13% over

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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 +16.5/30.0
• DSCR +5.1/10.0
• Schools +4.8/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• ARV discount +1.8/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity in the heart of downtown Suffolk! This over/under duplex features two spacious units, each offering 2 bedrooms and 1 full bathroom. Investors or owner-occupants—live in one unit and rent the other. Conveniently located near shopping, dining, and major roadways. Strong rental potential in a growing area. Don’t miss this opportunity!

Key facts

• Two spacious units
• Over under duplex
• Growing area

Tags

• OVER UNDER DUPLEX
• TWO SPACIOUS UNITS
• STRONG RENTAL POTENTIAL
• GROWING AREA

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $295k.

Deal economics

• At list price, monthly cash flow is $171 ($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 $247k (16.2% below list).
• Recommended offer: $247k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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 (+5.8%/yr); 536 active listings in the ZIP; solid renter incomes; 680 units permitted in Suffolk city in 2024 (0 in 5+ unit buildings).
• This rent runs 37% 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 $9k 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 69 days — a 6% lower offer ($277k) is reasonable based on typical stale-listing flexibility.
• 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.
• Current owner paid $50k; list at $295k implies a 490% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $247,279 (16.2% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.84% ✗
• Cap rate: 6.99%
• Cash-on-cash: 2.48%
• DSCR: 1.11
• GRM: 9.9

CMA / ARV

• ARV (median comp): $262,059
• List price: $295,000
• Delta: 12.57%
• Verdict: OVERPRICED
• Comps: 12 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.84% rent growth · sell at horizon

5-year hold

• IRR: -9.6%
• Equity multiple: 0.64×
• Total profit: $-29,785
• Equity at exit: $43,985

10-year hold

• IRR: 2.9%
• Equity multiple: 1.23×
• Total profit: $19,184
• Equity at exit: $25,506

Cash invested: $82,600 (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: 9.9×

Monthly cashflow live

• Estimated rent: $2,473 medium
• Mortgage (P&I): −$1,547
• Tax from tax record: −$113 /mo · $1,355/yr
• Insurance: −$123
• HOA: −$0
• Vacancy / Maint / Mgmt: −$519
• Net cashflow: $171

Break-even live

Break-even rent $2,257

Max offer price $295,000

Occupancy floor 88%

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: $73,750
• Closing costs: $8,850
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $295,000 Active 69 DOM
2. 2026-06-17
   days on market $295,000 Active 68 DOM
3. 2026-06-16
   days on market $295,000 Active 67 DOM
4. 2026-06-15
   days on market $295,000 Active 66 DOM
5. 2026-06-13
   days on market $295,000 Active 64 DOM
6. 2026-06-09
   days on market $295,000 Active 60 DOM
7. 2026-06-08
   days on market $295,000 Active 59 DOM
8. 2026-06-07
   days on market $295,000 Active 58 DOM
9. 2026-06-03
   days on market $295,000 Active 54 DOM
10. 2026-06-02
    days on market $295,000 Active 53 DOM
11. 2026-06-01
    days on market $295,000 Active 52 DOM
12. 2026-05-31
    days on market $295,000 Active 51 DOM
13. 2026-04-16
    status Active 374-char remark

    Show marketing remark (374 chars)

    Great investment opportunity in the heart of downtown Suffolk! This over/under duplex features two spacious units, each offering 2 bedrooms and 1 full bathroom. Investors or owner-occupants—live in one unit and rent the other. Conveniently located near shopping, dining, and major roadways. Strong rental potential in a growing area. Don’t miss this opportunity!

14. 2026-04-10
    status Active 374-char remark

    Show marketing remark (374 chars)

    Great investment opportunity in the heart of downtown Suffolk! This over/under duplex features two spacious units, each offering 2 bedrooms and 1 full bathroom. Investors or owner-occupants—live in one unit and rent the other. Conveniently located near shopping, dining, and major roadways. Strong rental potential in a growing area. Don’t miss this opportunity!

15. 2026-03-31
    historical 374-char remark

    Show marketing remark (374 chars)

    Great investment opportunity in the heart of downtown Suffolk! This over/under duplex features two spacious units, each offering 2 bedrooms and 1 full bathroom. Investors or owner-occupants—live in one unit and rent the other. Conveniently located near shopping, dining, and major roadways. Strong rental potential in a growing area. Don’t miss this opportunity!

16. 2026-03-31
    historical 374-char remark

    Show marketing remark (374 chars)

    Great investment opportunity in the heart of downtown Suffolk! This over/under duplex features two spacious units, each offering 2 bedrooms and 1 full bathroom. Investors or owner-occupants—live in one unit and rent the other. Conveniently located near shopping, dining, and major roadways. Strong rental potential in a growing area. Don’t miss this opportunity!

17. 2026-03-25
    listed $295,000 Active 374-char remark

    Show marketing remark (374 chars)

    Great investment opportunity in the heart of downtown Suffolk! This over/under duplex features two spacious units, each offering 2 bedrooms and 1 full bathroom. Investors or owner-occupants—live in one unit and rent the other. Conveniently located near shopping, dining, and major roadways. Strong rental potential in a growing area. Don’t miss this opportunity!

18. 2014-07-29
    soldstatus $50,000
19. 2014-05-05
    price $74,000 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: $1,355 · $113/mo
• Projected year-2 tax: $2,419 · $202/mo
• Expected delta: +$1,064/yr (+$89/mo · 78.6%)

ⓘ 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: $29,673
• − Mortgage interest: −$16,525
• − Property taxes: −$1,355
• − Insurance: −$1,475
• − Repairs & maintenance: −$2,374
• − Management: −$2,374
• − Depreciation: −$8,582
• Taxable loss: −$3,010
• Est. tax savings @ 24.0%: +$722
• After-tax cash flow: $2,771/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

+298.6% since first listed

7 events — show timeline

• 2026-04-16 Relisted — REINMLS
• 2026-04-10 Relisted — REINMLS
• 2026-03-31 Listing Removed — REINMLS
• 2026-03-31 Listing Removed — REINMLS
• 2026-03-25 Listed $295,000 REINMLS
• 2014-07-29 Sold (Public Records) $50,000 Public Records
• 2014-05-05 Price Changed $74,000 REINMLS

Property tax history

+3.8%/yr

Latest (2025): $1,355 · +2.8% YoY. Source: county tax records.