1308 Union Pacific Way · Suffolk, VA 23435

$340,000

3 bd · 2.5 ba · 1,632 sqft · Condo public records · 7 Days on market

Built 2021 $150/mo HOA · 6% of rent

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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 +8.8/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +4.8/10.0
• Livability +3.9/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to Bennett’s Creek Quarter, a thoughtfully planned community in Northern Suffolk designed for comfort, convenience, and connection. This beautifully maintained two-story townhouse features 3 bedrooms, 2.5 baths, with stylish modern touches throughout. These include a contemporary electric fireplace, elegant ceiling detail, and a spacious primary suite with a private bath. Built in 2021, the home offers the peace of mind of newer construction with appliances about 4 years old or newer. Residents enjoy exceptional neighborhood amenities such as a clubhouse, fitness center, pool, fire pit, pocket park, dog park, playground, and scenic nature trails. Conveniently located near

Key facts

• Fitness center
• Ceiling detail
• Clubhouse

Tags

• ELECTRIC FIREPLACE
• CEILING DETAIL
• PRIMARY SUITE
• PRIVATE BATH
• CLUBHOUSE
• FITNESS CENTER

Property features AI

Finance

• HOA & community: HOA present; monthly condo fee of $150; Association managed by Associa Community Group; Community amenities include clubhouse, exercise room, pool, ground maintenance, and trash pickup

Exterior

• Parking: Assigned / reserved parking
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Attached townhouse; Two stories; Condo ownership; Condo level 1; Slab foundation
• Construction: Stone and vinyl siding; Asphalt shingle roof
• Exterior features: Patio; Privacy fence; Storage shed

Interior

• Kitchen: Electric range; Microwave; Refrigerator; Dishwasher; Disposal; Pantry
• Bedrooms: Master bedroom with ensuite; Additional bedrooms on second floor
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Heat pump; Electric heating; Central air
• Interior features: Electric fireplace; Ceiling fan(s); Cable hookup; Scuttle (attic) access; Walk-in closet(s); Window treatments
• Laundry & utility: Washer hookup; Dryer hookup; Utility room; Utility closet

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $340k.

Deal economics

• At list price, monthly cash flow is $-279 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $291k (14.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $264k (22.4% below list).
• Recommended offer: $264k (22.4% below list) — sets the bar for 1% rule.
• Cap rate 5.3% 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: Creekside Elementary (math 44% / reading 66%, grade C, #643 of 1,108 statewide, top 59%, 752 students, 65% FRL); Nansemond River High (math 44% / reading 87%, grade B, #204 of 319 statewide, top 65%, 1,698 students, 64% FRL) — zoned schools average 65% FRL vs 39% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+10.6%/yr); 507 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $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 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y ago 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.

Recommended offer $263,779 (22.4% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.78% ✗
• Cap rate: 5.31%
• Cash-on-cash: -3.52%
• DSCR: 0.84
• GRM: 10.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -16.7%
• Equity multiple: 0.38×
• Total profit: $-58,876
• Equity at exit: $50,695

10-year hold

• IRR: -1.3%
• Equity multiple: 0.89×
• Total profit: $-10,507
• Equity at exit: $29,397

Cash invested: $95,200 (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 23435

• Rents YoY: 10.6%
• Active inventory: 507
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,638 high
• Mortgage (P&I): −$1,783
• Tax from tax record: −$288 /mo · $3,458/yr
• Insurance: −$142
• HOA: −$150
• Vacancy / Maint / Mgmt: −$554
• Net cashflow: $-279

Break-even live

Break-even rent $2,991

Max offer price $290,714

Occupancy floor —

Sensitivity live

Price	-10% $-87	-5% $-183	+0% $-279	+5% $-375	+10% $-471
Rent	-10% $-487	-5% $-383	+0% $-279	+5% $-175	+10% $-71
Rate	-1.0pp $-108	-0.5pp $-193	base $-279	+0.5pp $-367	+1.0pp $-457

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2003 Laycock Ln Suffolk, VA	3.0	2.5	1771	$2,500	$1.41	44d	1	0.12mi
1005 Serene Rd #103 Suffolk, VA	4.0	3.5	2071	$2,900	$1.40	4d	1	0.28mi
2230 Livingston St Suffolk, VA	3.0	2.5	1767	$2,500	$1.41	8d	1	0.87mi
2230 Livingston St Suffolk, VA	3.0	2.5	1659	$2,500	$1.51	4d	1	0.87mi
371 Canaan Cir Suffolk, VA	4.0	2.5	2132	$3,200	$1.50	44d	1	0.88mi
2113 Livingston St Suffolk, VA	3.0	2.5	1770	$2,750	$1.55	4d	1	0.93mi
3111 Burlington St Suffolk, VA	3.0	2.5	1638	$2,700	$1.65	21d	1	0.94mi
604 Teton Cir Suffolk, VA	3.0	2.5	1701	$2,500	$1.47	13d	1	1.02mi
5103 S Links Cir Suffolk, VA	3.0	2.5	2053	$2,545	$1.24	4d	1	1.30mi

HOA detail condo

• Monthly dues: $150 · $1,800/yr
• Likely covers: electricpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-18
   days on market $340,000 Active 7 DOM
2. 2026-06-17
   days on market $340,000 Active 6 DOM
3. 2026-06-16
   days on market $340,000 Active 5 DOM
4. 2026-06-15
   days on market $340,000 Active 4 DOM
5. 2026-06-13
   remarks 693-char remark
6. 2026-06-13
   listed $340,000 Active 2 DOM

ⓘ 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: $3,458 · $288/mo
• Projected year-2 tax: $3,458 · $288/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $31,653
• − Mortgage interest: −$19,045
• − Property taxes: −$3,458
• − Insurance: −$1,700
• − Repairs & maintenance: −$2,532
• − Management: −$2,532
• − HOA: −$1,800
• − Depreciation: −$9,891
• Taxable loss: −$9,306
• Est. tax savings @ 24.0%: +$2,233
• After-tax cash flow: $-1,115/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): 33,721
• Household income: $111,700
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 1074.0

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 0.64)
• Race & ethnicity: White 47% Black 36% Two or more races 9% Hispanic / Latino 6% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 2% Italian 2% Slovak 1%
• Foreign-born: 6% · Canada, Vietnam, China
• Languages at home: 91% English-only · Spanish 4% Chinese 1% German/W. Germanic 1%

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: ▼ -155.93%
• Current HPI: 162.3775
• Rent YoY: ▲ 10.61%
• 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

+14.1% since first listed

5 events — show timeline

• 2026-06-11 Listed $340,000 REINMLS
• 2022-08-22 Listing Removed — REINMLS
• 2022-02-02 Pending — REINMLS
• 2022-02-02 Price Changed $300,952 REINMLS
• 2022-02-01 Listed $297,990 REINMLS

Property tax history

+3.7%/yr

Latest (2025): $3,458 · -2.9% YoY. Source: county tax records.