250 Pinner St

Suffolk, VA 23434

$175,000B+

5 bd · 1.0 ba · 1,386 sqft · Built 1920 · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,424/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$155
• HOA: −$0
• Vac / Maint / Mgmt: −$509
• Net cashflow: $842/mo
• Annual: $10,108/yr
• Cap rate: 12.07%
• Cash-on-cash: 20.63%
• DSCR: 1.92
• 1% rule: 1.39%
• Cash to close: $49,000

Investor read

• This is a 5-bed/1.0-bath single-family listed at $175k.
• At list price, monthly cash flow is $842 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• 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: Hillpoint Elementary (math 31% / reading 57%, grade F, #851 of 1,108 statewide, top 77%, 737 students, 65% 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 (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+5.8%/yr); 546 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 680 units permitted in Suffolk city in 2024 (0 in 5+ unit buildings).
• Suffolk County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 sale attempts since 6y 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.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $49k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 12.1% 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.
• This rent runs 36% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.