1103 Custis Rd · Suffolk, VA 23434

$185,000

3 bd · 1.5 ba · 984 sqft · SingleFamily public records · 107 Days on market

Built 1968 9,147 sqft lot $188/sqft · 16% below area Est $222k · 16% under

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Why this score? — see what drove the C 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 +16.4/30.0
• ARV discount +14.9/15.0
• DSCR +5.1/10.0
• Schools +4.8/10.0
• 1% rule +4.2/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lots of potential in a growing area. Will not qualify for a traditional loan. Will need to be 203k/renovation loan, cash or hard money. Main sewer line collapse and needs to be replaced, quoted $9000. Possible crawlspace repairs as well. Flooring throughout needs to be replaced. Please do not turn on any water or flush toilets while you are touring.

Key facts

• 9,147 sq ft lot
• Garage
• Built 1968

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $105 ($1k/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 $171k (7.8% below list).
• Recommended offer: $168k (9.0% below list) — sets the bar for market timing.
• 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+, 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: Elephant'S Fork Elementary (math 39% / reading 57%, grade D, #787 of 1,108 statewide, top 72%, 599 students, 65% 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); 546 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 107 days — a 9% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $25k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $168,350 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — 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. 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.
7. 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.
8. 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: 0.92% ✗
• Cap rate: 6.98%
• Cash-on-cash: 2.44%
• DSCR: 1.11
• GRM: 9.0

CMA / ARV

• ARV (median comp): $221,532
• List price: $185,000
• Delta: -16.49%
• 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
1010 Truman Rd	0.11mi	3/1.5	1,100 (+12%)	3mo	$229,000	$208	73
121 S 10th St	0.20mi	3/2.0	892 (-9%)	0mo	$220,000	$247	72
111 S Lloyd St	0.44mi	3/1.0	1,008 (+2%)	6mo	$189,000	$188	69
226 N 4th St	0.46mi	3/2.0	1,022 (+4%)	2mo	$222,000	$217	68
613 Chisholm Ln	0.48mi	3/2.0	1,000 (+2%)	7mo	$246,000	$246	67
301 Goodman St	0.48mi	3/1.0	1,053 (+7%)	2mo	$125,000	$119	63
1304 Shelton Ct	0.74mi	3/1.0	947 (-4%)	2mo	$163,500	$173	56
310 Fuller St	0.44mi	2/1.0 (-1)	900 (-8%)	3mo	$115,000	$128	55
123 Walnut St	0.65mi	2/1.0 (-1)	896 (-9%)	0mo	$219,000	$244	48
1415 Blythewood Ln	0.70mi	3/2.0	1,056 (+7%)	8mo	$240,000	$227	46
341 N 5th St	0.66mi	3/1.0	1,100 (+12%)	1mo	$220,000	$200	46
417 Hollywood Ave	0.61mi	2/1.5 (-1)	870 (-12%)	6mo	$217,000	$249	43

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: -9.4%
• Equity multiple: 0.65×
• Total profit: $-18,253
• Equity at exit: $27,584

10-year hold

• IRR: 3.5%
• Equity multiple: 1.28×
• Total profit: $14,554
• Equity at exit: $15,995

Cash invested: $51,800 (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 →

ZIP-level market 23434

• Rents YoY: 5.8%
• Active inventory: 546
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,705 high
• Mortgage (P&I): −$970
• Tax from tax record: −$194 /mo · $2,333/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $105

Break-even live

Break-even rent $1,572

Max offer price $185,000

Occupancy floor 89%

Sensitivity live

Price	-10% $210	-5% $158	+0% $105	+5% $53	+10% $1
Rent	-10% $-29	-5% $38	+0% $105	+5% $173	+10% $240
Rate	-1.0pp $199	-0.5pp $152	base $105	+0.5pp $57	+1.0pp $9

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 S 10th St Suffolk, VA	2.0	1.0	736	$1,250	$1.70	46d	1	0.18mi
214 N 7th St Unit NA Suffolk, VA	2.0	1.0	760	$1,500	$1.97	25d	1	0.32mi
1410 Blythewood Ln Suffolk, VA	4.0	1.5	1056	$1,800	$1.70	46d	1	0.66mi
326 E Washington St Suffolk, VA	2.0	2.0	839	$1,629	$1.94	5d	1	0.97mi
307 Central Ave Suffolk, VA	3.0	1.0	840	$1,700	$2.02	46d	1	1.03mi
181 N Main St Suffolk, VA	2.0	1.0–2.0	804	$1,885	$2.34	0d	15	1.26mi
210 Baker St Suffolk, VA	3.0	1.0	988	$1,600	$1.62	46d	1	1.49mi

Listing history 20 events

1. 2026-06-21
   days on market $185,000 Active 107 DOM
2. 2026-06-18
   days on market $185,000 Active 104 DOM
3. 2026-06-17
   days on market $185,000 Active 103 DOM
4. 2026-06-16
   pricedays on market $185,000 Active 102 DOM
5. 2026-06-15
   days on market $199,900 Active 101 DOM
6. 2026-06-13
   days on market $199,900 Active 99 DOM
7. 2026-06-09
   days on market $199,900 Active 95 DOM
8. 2026-06-08
   days on market $199,900 Active 94 DOM
9. 2026-06-07
   days on market $199,900 Active 93 DOM
10. 2026-06-03
    days on market $199,900 Active 89 DOM
11. 2026-06-02
    days on market $199,900 Active 88 DOM
12. 2026-06-01
    days on market $199,900 Active 87 DOM
13. 2026-05-31
    days on market $199,900 Active 86 DOM
14. 2026-03-06
    listed $210,000 Active 351-char remark

    Show marketing remark (351 chars)

    Lots of potential in a growing area. Will not qualify for a traditional loan. Will need to be 203k/renovation loan, cash or hard money. Main sewer line collapse and needs to be replaced, quoted $9000. Possible crawlspace repairs as well. Flooring throughout needs to be replaced. Please do not turn on any water or flush toilets while you are touring.

15. 2021-11-17
    soldstatus $194,500
16. 2021-10-18
    status Under Contract
17. 2021-10-11
    historical Active Under Contract
18. 2021-10-08
    listed $194,500 Active
19. 2014-10-23
    soldstatus $95,000
20. 2010-04-08
    soldstatus $50,725

ⓘ 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: $2,333 · $194/mo
• Projected year-2 tax: $2,333 · $194/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 2/10 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: $20,461
• − Mortgage interest: −$10,363
• − Property taxes: −$2,333
• − Insurance: −$925
• − Repairs & maintenance: −$1,637
• − Management: −$1,637
• − Depreciation: −$5,382
• Taxable loss: −$1,815
• Est. tax savings @ 24.0%: +$436
• After-tax cash flow: $1,700/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

+314.0% since first listed

7 events — show timeline

• 2026-03-06 Listed $210,000 REINMLS
• 2021-11-17 Sold (Public Records) $194,500 Public Records
• 2021-10-18 Pending — REINMLS
• 2021-10-11 Contingent — REINMLS
• 2021-10-08 Listed $194,500 REINMLS
• 2014-10-23 Sold (Public Records) $95,000 Public Records
• 2010-04-08 Sold (Public Records) $50,725 Public Records

Property tax history

+5.7%/yr

Latest (2025): $2,333 · +5.7% YoY. Source: county tax records.