655 3rd Ave · Suffolk, VA 23434

$170,000

2 bd · 1.0 ba · 868 sqft · SingleFamily public records · 31 Days on market

Built 1970 4,791 sqft lot Est $188k · 10% 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 +12.8/30.0
• ARV discount +11.9/15.0
• Schools +4.8/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• DSCR +3.8/10.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to 655 3rd Avenue in Suffolk — a charming property full of warmth and potential. This inviting home offers comfortable living with a functional layout, bright natural light, and classic character throughout. Enjoy relaxing in the spacious living areas, cooking in a kitchen designed for everyday convenience, and spending time outdoors with room to entertain, garden, or unwind. Conveniently located near local shopping, dining, and commuter routes, this home is a great opportunity for buyers looking for charm, value, and a place to make their own. Schedule your showing today

Key facts

• Room to entertain
• Bright natural light
• 4,791 sq ft lot

Tags

• BRIGHT NATURAL LIGHT
• SPACIOUS LIVING AREAS
• ROOM TO ENTERTAIN

Property features AI

Finance

• HOA & community: No HOA or POA monthly fees listed

Exterior

• Parking: Driveway parking spaces; Street parking
• Utilities: City/County sewer; Electric water heater
• Home design: Detached cottage; Single-story; Crawl foundation; Timeshare ownership
• Construction: Asphalt shingle roof
• Exterior features: Stucco siding; Back yard with chain link fence

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Bedroom and full bathroom on the first floor; Total of 4 rooms in the home
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced hot air heating; Geothermal cooling
• Interior features: Carpet, laminate, and vinyl flooring; Attic; Breakfast area
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-14 ($-173/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (19.3% below list).
• Recommended offer: $137k (19.3% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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); 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); 546 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $5k 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 31 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 4 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.
• Current owner paid $145k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $137,145 (19.3% 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. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.81% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.36%
• DSCR: 0.98
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $188,356
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
814 Garfield Ave	0.31mi	2/1.0	780 (-10%)	12mo	$195,000	$250	59
415 Bosley Ave	0.60mi	2/1.0	808 (-7%)	2mo	$175,000	$217	59
313 Saint James Ave	0.53mi	3/1.0 (+1)	816 (-6%)	7mo	$175,000	$214	55
302 Saint James Ave	0.50mi	3/1.0 (+1)	910 (+5%)	12mo	$235,000	$258	54
616 Ashley Ave	0.72mi	2/1.0	904 (+4%)	8mo	$50,000	$55	53

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: -14.0%
• Equity multiple: 0.49×
• Total profit: $-24,462
• Equity at exit: $25,348

10-year hold

• IRR: -1.4%
• Equity multiple: 0.89×
• Total profit: $-5,061
• Equity at exit: $14,698

Cash invested: $47,600 (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: 546
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,371 high
• Mortgage (P&I): −$891
• Tax from tax record: −$136 /mo · $1,626/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $-14

Break-even live

Break-even rent $1,390

Max offer price $167,453

Occupancy floor 96%

Sensitivity live

Price	-10% $82	-5% $34	+0% $-14	+5% $-63	+10% $-111
Rent	-10% $-123	-5% $-69	+0% $-14	+5% $40	+10% $94
Rate	-1.0pp $71	-0.5pp $29	base $-14	+0.5pp $-58	+1.0pp $-103

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
564 1st Ave Suffolk, VA	2.0	1.0	1000	$1,100	$1.10	45d	1	0.11mi
558 1st Ave Suffolk, VA	2.0	1.5	1000	$1,250	$1.25	45d	1	0.12mi
806 W Washington St Unit 112 Suffolk, VA	2.0	2.0	900	$1,325	$1.47	19d	1	0.21mi
308 Saint James Ave Unit B Suffolk, VA	2.0	1.0	936	$1,295	$1.38	25d	1	0.51mi
410 Bosley Ave Unit B Suffolk, VA	2.0	1.0	850	$1,095	$1.29	12d	1	0.56mi
408 Wellons St Suffolk, VA	1.0	1.0	750	$1,486	$1.98	3d	3	0.59mi
181 N Main St Suffolk, VA	2.0	1.0–2.0	804	$1,885	$2.34	3d	15	0.65mi
303 Bank St Unit C Suffolk, VA	1.0	1.0	650	$1,100	$1.69	25d	1	0.89mi
307 Central Ave Suffolk, VA	3.0	1.0	840	$1,700	$2.02	45d	1	0.92mi
326 E Washington St Suffolk, VA	2.0	2.0	839	$1,629	$1.94	4d	1	0.96mi
210 Baker St Suffolk, VA	3.0	1.0	988	$1,600	$1.62	45d	1	1.42mi
114 Nancy Dr Suffolk, VA	2.0–3.0	1.0	860	$1,195	$1.39	3d	4	1.47mi

Listing history 20 events

1. 2026-06-21
   days on market $170,000 Active 31 DOM
2. 2026-06-18
   days on market $170,000 Active 28 DOM
3. 2026-06-17
   days on market $170,000 Active 27 DOM
4. 2026-06-16
   days on market $170,000 Active 26 DOM
5. 2026-06-15
   days on market $170,000 Active 25 DOM
6. 2026-06-13
   days on market $170,000 Active 23 DOM
7. 2026-06-09
   days on market $170,000 Active 19 DOM
8. 2026-06-08
   days on market $170,000 Active 18 DOM
9. 2026-06-07
   days on market $170,000 Active 17 DOM
10. 2026-06-03
    days on market $170,000 Active 13 DOM
11. 2026-06-02
    days on market $170,000 Active 12 DOM
12. 2026-06-01
    days on market $170,000 Active 11 DOM
13. 2026-05-31
    days on market $170,000 Active 10 DOM
14. 2026-02-26
    listed $175,000 Active 596-char remark
15. 2026-02-07
    historical
16. 2025-08-26
    listed $194,900 Active
17. 2022-10-17
    soldstatus $145,000
18. 2022-09-06
    status Under Contract
19. 2022-08-22
    historical Active Under Contract
20. 2022-08-13
    listed $135,000 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: $1,626 · $136/mo
• Projected year-2 tax: $1,626 · $136/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: $16,457
• − Mortgage interest: −$9,523
• − Property taxes: −$1,626
• − Insurance: −$850
• − Repairs & maintenance: −$1,317
• − Management: −$1,317
• − Depreciation: −$4,945
• Taxable loss: −$3,120
• Est. tax savings @ 24.0%: +$749
• After-tax cash flow: $576/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

+25.9% since first listed

9 events — show timeline

• 2026-05-21 Listed $170,000 REINMLS
• 2026-05-20 Listing Removed — REINMLS
• 2026-02-26 Listed $175,000 REINMLS
• 2026-02-07 Listing Removed — REINMLS
• 2025-08-26 Listed $194,900 REINMLS
• 2022-10-17 Sold (Public Records) $145,000 Public Records
• 2022-09-06 Pending — REINMLS
• 2022-08-22 Contingent — REINMLS
• 2022-08-13 Listed $135,000 REINMLS

Property tax history

+11.2%/yr

Latest (2025): $1,626 · +3.3% YoY. Source: county tax records.