1807 E Washington St · Suffolk, VA 23434

$74,000

3 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 156 Days on market

Built 1930 Poor condition $69/sqft · 68% 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 +4.8/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor opportunity on East Washington commercial corridor. Zoned B1 Neighborhood Commercial with permitted residential renovation, structure must remain. Sold strictly as-is with adjacent parcel. Cash or hard-money preferred. Buyer to verify any other uses with the City.

Key facts

• Built 1930
• Listed 156 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $74k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $930 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $74k).
• Recommended offer: $65k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.4% 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; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 $512 of loan paydown is wiped out by about $2k 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 $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $6k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 2.43% ✓
• Cap rate: 21.37%
• Cash-on-cash: 53.85%
• DSCR: 3.40
• GRM: 3.4

CMA / ARV

• ARV (median comp): $228,500
• List price: $74,000
• Delta: -67.61%
• 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
301 Goodman St	0.24mi	3/1.0	1,053 (-2%)	2mo	$125,000	$119	83
1812 Freeney Ave	0.08mi	3/1.0	1,166 (+8%)	1mo	$450,000	$386	82
341 N 5th St	0.40mi	3/1.0	1,100 (+2%)	1mo	$220,000	$200	77
1010 Truman Rd	0.40mi	3/1.5	1,100 (+2%)	3mo	$229,000	$208	74
215 N Capital St	0.38mi	3/1.0	1,140 (+6%)	2mo	$90,000	$79	72
226 N 4th St	0.30mi	3/2.0	1,022 (-5%)	2mo	$222,000	$217	71
108 N 6th St	0.20mi	3/2.0	1,224 (+13%)	1mo	$246,200	$201	64
111 S Lloyd St	0.48mi	3/1.0	1,008 (-7%)	6mo	$189,000	$188	62
200 N Capital St	0.36mi	3/2.0	1,184 (+10%)	2mo	$253,000	$214	61
120 Oak St	0.62mi	3/1.0	1,200 (+11%)	2mo	$189,500	$158	51
111 Halifax St	0.61mi	3/2.5	1,200 (+11%)	2mo	$274,900	$229	46
1208 White Marsh Rd	0.61mi	2/2.0 (-1)	1,206 (+12%)	0mo	$218,000	$181	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: 55.1%
• Equity multiple: 3.53×
• Total profit: $52,521
• Equity at exit: $11,034

10-year hold

• IRR: 61.2%
• Equity multiple: 8.00×
• Total profit: $145,000
• Equity at exit: $6,398

Cash invested: $20,720 (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: 3.4×

Monthly cashflow live

• Estimated rent: $1,796 high
• Mortgage (P&I): −$388
• Tax from tax record: −$70 /mo · $839/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $930

Break-even live

Break-even rent $619

Max offer price $74,000

Occupancy floor 43%

Sensitivity live

Price	-10% $972	-5% $951	+0% $930	+5% $909	+10% $888
Rent	-10% $788	-5% $859	+0% $930	+5% $1,001	+10% $1,072
Rate	-1.0pp $967	-0.5pp $949	base $930	+0.5pp $911	+1.0pp $891

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: $18,500
• Closing costs: $2,220
• Reserves months: —
• Total cash needed: —

Rent comps 11 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	44d	1	0.11mi
214 N 7th St Unit NA Suffolk, VA	2.0	1.0	760	$1,500	$1.97	24d	1	0.15mi
223 N 7th St Suffolk, VA	3.0	2.5	1495	$2,300	$1.54	44d	1	0.17mi
1410 Blythewood Ln Suffolk, VA	4.0	1.5	1056	$1,800	$1.70	44d	1	0.64mi
307 Central Ave Suffolk, VA	3.0	1.0	840	$1,700	$2.02	44d	1	0.89mi
326 E Washington St Suffolk, VA	2.0	2.0	839	$1,629	$1.94	3d	1	0.91mi
206 Reid's Place Dr Suffolk, VA	3.0	2.5	1280	$2,200	$1.72	4d	1	0.96mi
206 Reid's Place Dr Unit 206 Suffolk, VA	3.0	2.5	1280	$2,300	$1.80	17d	1	0.98mi
116 Franklin St Suffolk, VA	3.0	1.0	1335	$1,750	$1.31	24d	1	1.03mi
116 Franklin St Unit 3 Suffolk, VA	3.0	1.0	1335	$1,750	$1.31	44d	1	1.03mi
181 N Main St Suffolk, VA	2.0	1.0–2.0	804	$1,885	$2.34	2d	15	1.16mi

Listing history 23 events

1. 2026-06-18
   days on market $74,000 Active 156 DOM
2. 2026-06-17
   days on market $74,000 Active 155 DOM
3. 2026-06-16
   days on market $74,000 Active 154 DOM
4. 2026-06-15
   days on market $74,000 Active 153 DOM
5. 2026-06-13
   days on market $74,000 Active 151 DOM
6. 2026-06-09
   days on market $74,000 Active 147 DOM
7. 2026-06-08
   days on market $74,000 Active 146 DOM
8. 2026-06-07
   days on market $74,000 Active 145 DOM
9. 2026-06-03
   days on market $74,000 Active 141 DOM
10. 2026-06-02
    days on market $74,000 Active 140 DOM
11. 2026-06-01
    days on market $74,000 Active 139 DOM
12. 2026-05-31
    days on market $74,000 Active 138 DOM
13. 2026-01-12
    listed $79,999 Active 273-char remark

    Show marketing remark (273 chars)

    Investor opportunity on East Washington commercial corridor. Zoned B1 Neighborhood Commercial with permitted residential renovation, structure must remain. Sold strictly as-is with adjacent parcel. Cash or hard-money preferred. Buyer to verify any other uses with the City.

14. 2025-11-30
    historical
15. 2025-03-07
    status Active
16. 2025-02-28
    historical
17. 2024-12-02
    status Active
18. 2024-11-30
    historical
19. 2024-07-31
    status Active
20. 2024-05-23
    status Under Contract
21. 2024-05-21
    status Active
22. 2024-05-10
    historical Active Under Contract
23. 2023-12-07
    listed $80,000 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: $839 · $70/mo
• Projected year-2 tax: $839 · $70/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: $21,549
• − Mortgage interest: −$4,145
• − Property taxes: −$839
• − Insurance: −$370
• − Repairs & maintenance: −$1,724
• − Management: −$1,724
• − Depreciation: −$2,153
• Taxable income: $10,594
• Est. tax owed @ 24.0%: −$2,543
• After-tax cash flow: $8,615/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 · 1 photo

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance, including major work on the exterior siding, roof, windows, and HVAC. Immediate action is needed to stabilize the property and improve its value.

Repairs flagged

• Major exterior siding — Damaged and peeling
• Major roof — Missing shingles and damage
• Major windows — Cracked and broken
• Major interior walls/paint — Peeling and chipped
• Major HVAC/mechanicals — No visible photos to assess

Value-add opportunities

• Both exterior siding repair — Improves curb appeal and value
• Both roof repair — Essential for structural integrity and safety
• Both window replacement — Enhances safety and energy efficiency
• Both HVAC replacement — Improves comfort and energy efficiency
• Both painting interior and exterior — Enhances curb appeal and interior aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Damaged and peeling	Major	$15,000–50,000
roof · Missing shingles and damage	Major	$15,000–50,000
windows · Cracked and broken	Major	$15,000–50,000
interior walls/paint · Peeling and chipped	Major	$15,000–50,000
HVAC/mechanicals · No visible photos to assess	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both exterior siding repair — Improves curb appeal and value ↑
• Both roof repair — Essential for structural integrity and safety ↑
• Both window replacement — Enhances safety and energy efficiency ↑
• Both HVAC replacement — Improves comfort and energy efficiency ↑
• Both painting interior and exterior — Enhances curb appeal and interior aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-0.0% since first listed

11 events — show timeline

• 2026-01-12 Listed $79,999 REINMLS
• 2025-11-30 Listing Removed — REINMLS
• 2025-03-07 Relisted — REINMLS
• 2025-02-28 Listing Removed — REINMLS
• 2024-12-02 Relisted — REINMLS
• 2024-11-30 Listing Removed — REINMLS
• 2024-07-31 Relisted — REINMLS
• 2024-05-23 Pending — REINMLS
• 2024-05-21 Relisted — REINMLS
• 2024-05-10 Contingent — REINMLS
• 2023-12-07 Listed $80,000 REINMLS

Property tax history

+2.3%/yr

Latest (2025): $839 · +1.3% YoY. Source: county tax records.