908 Virginia Ave · Suffolk, VA 23434

$324,900

4 bd · 1.5 ba · 1,862 sqft · SingleFamily public records · 14 Days on market

Built 1949 9,583 sqft lot $174/sqft · 48% above area Est $350k · 7% under

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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 +11.6/30.0
• ARV discount +10.7/15.0
• Schools +4.8/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• DSCR +3.4/10.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious and well built 4 bedroom, 1 1/2 bath all brick cape cod with over 2900 sq. ft located in Lakeside and ready for occupancy! Gorgeous hardwood floors, remodeled kitchen, downstairs bedroom, living room with F/P, and more! This home has many possibilities including a 28' X 22' heated "rec room" in basement!

Key facts

• All brick cape cod
• Remodeled kitchen
• Rec room

Tags

• HARDWOOD FLOORS
• REMODELED KITCHEN
• REC ROOM
• ALL BRICK CAPE COD

Property features AI

Finance

• Other: Neighborhood: LAKESIDE; Property includes attic, sun room, office/study, breakfast area, pantry, spare room
• HOA & community: No HOA fees reported

Exterior

• Parking: Carport; On-site lot parking; Multi-car parking; Street parking
• Utilities: City/County water; City/County sewer; Electric service
• Home design: Detached Cape Cod; 3 stories; Basement and crawlspace foundation
• Construction: Brick siding; Asphalt shingle roof
• Exterior features: Wooded lot; Back yard fenced; Storage shed

Interior

• Kitchen: Gas range; Refrigerator; Dishwasher; 220V electrical outlet
• Bedrooms: First-floor bedroom and full bathroom not present; Total rooms: 9 (includes bedroom spaces listed under rooms)
• Flooring: Carpet; Ceramic; Vinyl; Wood
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Two-zone heating; Central air with two-zone cooling; Electric water heater
• Interior features: Attic fan; Cable hookup; Ceiling fans; Wood-burning fireplace; Pull-down attic stairs; Walk-in closet
• Laundry & utility: Washer hookup; Dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $-101 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $307k (5.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (23.0% below list).
• Recommended offer: $250k (23.0% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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: Kilby Shores Elementary (math 47% / reading 62%, grade C, #650 of 1,108 statewide, top 62%, 449 students, 64% FRL); King'S Fork Middle (math 33% / reading 61%, grade D+, #257 of 342 statewide, top 77%, 1,031 students, 63% 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 (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.8%/yr); 549 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 38% 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 $10k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $215k; list at $325k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — 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 $250,121 (23.0% 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. Built in 1949 — 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. 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?
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: 0.77% ✗
• Cap rate: 5.92%
• Cash-on-cash: -1.34%
• DSCR: 0.94
• GRM: 10.8

CMA / ARV

• ARV (median comp): $349,750
• List price: $324,900
• Delta: -7.11%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
909 Howard Pl	0.12mi	3/2.0 (-1)	1,892 (+2%)	2mo	$348,400	$184	83
916 Delaware Ave	0.12mi	4/2.5	1,940 (+4%)	4mo	$339,900	$175	80
309 Linden Ave	0.28mi	3/2.0 (-1)	1,746 (-6%)	2mo	$278,000	$159	68
207 Causey Ave	0.10mi	3/1.5 (-1)	1,621 (-13%)	3mo	$275,000	$170	66
406 St James Ave	0.38mi	3/2.5 (-1)	1,760 (-6%)	5mo	$309,900	$176	60
721 Ashley Ave Unit A	0.31mi	3/2.5 (-1)	1,680 (-10%)	1mo	$327,000	$195	59
814 Battery Avenue Ave	0.33mi	3/2.5 (-1)	1,670 (-10%)	3mo	$305,000	$183	56
812 Battery Ave	0.33mi	3/2.5 (-1)	1,670 (-10%)	3mo	$305,000	$183	56
603 Mason Ave	0.34mi	3/2.5 (-1)	1,670 (-10%)	3mo	$315,000	$189	56
509 Pitchkettle Rd	0.60mi	3/2.5 (-1)	1,760 (-6%)	3mo	$310,000	$176	52
203 Saint James Ave	0.37mi	3/2.0 (-1)	1,592 (-14%)	2mo	$270,000	$170	50
207 Saint James Ave	0.36mi	3/2.5 (-1)	1,592 (-14%)	2mo	$315,000	$198	48

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: -15.6%
• Equity multiple: 0.43×
• Total profit: $-51,826
• Equity at exit: $48,444

10-year hold

• IRR: -3.2%
• Equity multiple: 0.76×
• Total profit: $-21,745
• Equity at exit: $28,091

Cash invested: $90,972 (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: 549
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,501 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$238 /mo · $2,859/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $-101

Break-even live

Break-even rent $2,630

Max offer price $306,974

Occupancy floor 99%

Sensitivity live

Price	-10% $82	-5% $-10	+0% $-101	+5% $-193	+10% $-285
Rent	-10% $-299	-5% $-200	+0% $-101	+5% $-3	+10% $96
Rate	-1.0pp $62	-0.5pp $-19	base $-101	+0.5pp $-186	+1.0pp $-271

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: $81,225
• Closing costs: $9,747
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
808 Gittings St Suffolk, VA	4.0	2.5	2187	$2,500	$1.14	26d	1	0.21mi
124 Linden Ave Suffolk, VA	4.0	2.5	2568	$2,795	$1.09	46d	1	0.32mi
525 Kilby Ave Suffolk, VA	3.0	2.5	1776	$2,500	$1.41	26d	1	0.54mi
621 Butler Ave Suffolk, VA	3.0	2.5	1760	$2,500	$1.42	26d	1	0.97mi
116 Franklin St Unit 3 Suffolk, VA	3.0	1.0	1335	$1,750	$1.31	46d	1	0.98mi
116 Franklin St Suffolk, VA	3.0	1.0	1335	$1,750	$1.31	26d	1	0.98mi
131 Brookside Ln Suffolk, VA	4.0	2.5	2005	$2,800	$1.40	46d	1	1.23mi
124 Halifax St Suffolk, VA	4.0	2.0	1728	$2,100	$1.22	46d	1	1.48mi

Listing history 2 events

1. 2026-05-15
   listed $324,900 Active 326-char remark
2. 2011-08-09
   soldstatus $215,000

ⓘ 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: $2,859 · $238/mo
• Projected year-2 tax: $2,859 · $238/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: $30,015
• − Mortgage interest: −$18,199
• − Property taxes: −$2,859
• − Insurance: −$1,624
• − Repairs & maintenance: −$2,401
• − Management: −$2,401
• − Depreciation: −$9,452
• Taxable loss: −$6,922
• Est. tax savings @ 24.0%: +$1,661
• After-tax cash flow: $444/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

+51.1% since first listed

4 events — show timeline

• 2026-05-29 Pending — REINMLS
• 2026-05-22 Contingent — REINMLS
• 2026-05-15 Listed $324,900 REINMLS
• 2011-08-09 Sold (Public Records) $215,000 Public Records

Property tax history

+1.1%/yr

Latest (2025): $2,859 · +2.9% YoY. Source: county tax records.