2208 Georgia Ave · Suffolk, VA 23434

$245,000

2 bd · 1.0 ba · 1,117 sqft · SingleFamily public records · 4 Days on market

Built 1947 5,662 sqft lot Est $256k · at est.

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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 +11.8/30.0
• ARV discount +9.4/15.0
• Schools +4.8/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• DSCR +3.5/10.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 2208 Georgia Avenue, a beautifully remodeled 3-bedroom, 2-full-bath home located in the heart of Suffolk! This move-in-ready residence has been thoughtfully updated with modern finishes while maintaining its charm and character. Step inside to discover a bright and inviting floor plan featuring updated flooring, fresh paint, and stylish fixtures throughout. The renovated kitchen offers contemporary appeal and functionality, making it the perfect space for cooking and entertaining. The spacious primary suite and additional bedrooms provide comfort and flexibility for family, guests, or a home office. Conveniently located near Downtown Suffolk's shopping, dining, parks, and enterta

Key facts

• 5,662 sq ft lot
• Built 1947
• Listed 4 days

Property features AI

Finance

• HOA & community: No HOA fees indicated

Exterior

• Parking: Off-street parking; Driveway parking spaces
• Utilities: City/County water; City/County sewer; Electric water heater; Electric service
• Home design: Detached ranch-style home; Single-story
• Construction: Crawl foundation
• Exterior features: Vinyl siding; Chain link fence; Approx. 0.13-acre lot; Asphalt shingle roof

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: Master bedroom (first floor); Additional bedroom
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump; Central air
• Interior features: Walk-in closet; Bedroom and full bathroom on first floor; Utility closet
• Laundry & utility: Washer hookup; Dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $-66 ($-788/yr) — negative.
• To cash-flow at today's rent, offer at most $233k (4.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (23.6% below list).
• Recommended offer: $187k (23.6% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: Florence Bowser Elementary (math 52% / reading 75%, grade B, #460 of 1,108 statewide, top 42%, 831 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); 546 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $2k of loan paydown is wiped out by about $7k 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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 8y 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.

Risks & watch-outs

• Watch-outs: built in 1947 — 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 $187,160 (23.6% 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 1947 — 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: 0.76% ✗
• Cap rate: 5.97%
• Cash-on-cash: -1.15%
• DSCR: 0.95
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $255,793
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
705 Hollywood Ave	0.06mi	3/2.0 (+1)	1,020 (-9%)	8mo	$252,000	$247	67
341 N 5th St	0.58mi	3/1.0 (+1)	1,100 (-2%)	1mo	$220,000	$200	65
2214 Florida Ave	0.05mi	3/2.0 (+1)	984 (-12%)	10mo	$195,000	$198	60
1812 Freeney Ave	0.60mi	3/1.0 (+1)	1,166 (+4%)	2mo	$450,000	$386	59
202 Bunch Ave	0.27mi	3/2.0 (+1)	1,248 (+12%)	2mo	$298,000	$239	57
301 Goodman St	0.64mi	3/1.0 (+1)	1,053 (-6%)	2mo	$125,000	$119	54
421 Highland Ave	0.63mi	3/2.5 (+1)	1,200 (+7%)	0mo	$285,000	$238	47
413 Elizabeth St	0.72mi	3/2.0 (+1)	1,150 (+3%)	7mo	$235,000	$204	46
120 N 9th St	0.58mi	3/2.5 (+1)	1,200 (+7%)	9mo	$275,000	$229	42
118 N 9th St	0.59mi	3/2.5 (+1)	1,200 (+7%)	9mo	$275,000	$229	41
403 E Constance Rd	0.74mi	3/1.0 (+1)	1,225 (+10%)	7mo	$220,000	$180	38
301 Bullock St	0.50mi	3/2.0 (+1)	965 (-14%)	10mo	$249,900	$259	36

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: -15.4%
• Equity multiple: 0.44×
• Total profit: $-38,449
• Equity at exit: $36,530

10-year hold

• IRR: -3.0%
• Equity multiple: 0.78×
• Total profit: $-15,202
• Equity at exit: $21,183

Cash invested: $68,600 (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: 10.9×

Monthly cashflow live

• Estimated rent: $1,872 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$157 /mo · $1,889/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $-66

Break-even live

Break-even rent $1,955

Max offer price $233,393

Occupancy floor 99%

Sensitivity live

Price	-10% $73	-5% $4	+0% $-66	+5% $-135	+10% $-204
Rent	-10% $-214	-5% $-140	+0% $-66	+5% $8	+10% $82
Rate	-1.0pp $58	-0.5pp $-3	base $-66	+0.5pp $-129	+1.0pp $-194

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
206 Reid's Place Dr Suffolk, VA	3.0	2.5	1280	$2,200	$1.72	6d	1	0.51mi
206 Reid's Place Dr Unit 206 Suffolk, VA	3.0	2.5	1280	$2,300	$1.80	19d	1	0.53mi
223 N 7th St Suffolk, VA	3.0	2.5	1495	$2,300	$1.54	45d	1	0.68mi
214 N 7th St Unit NA Suffolk, VA	2.0	1.0	760	$1,500	$1.97	25d	1	0.70mi
120 S 10th St Suffolk, VA	2.0	1.0	736	$1,250	$1.70	45d	1	0.72mi
307 Central Ave Suffolk, VA	3.0	1.0	840	$1,700	$2.02	45d	1	1.06mi
1144 Portsmouth Blvd Suffolk, VA	2.0–3.0	2.0	1039	$568	$0.55	3d	88	1.08mi
326 E Washington St Suffolk, VA	2.0	2.0	839	$1,629	$1.94	4d	1	1.26mi
116 Franklin St Unit 3 Suffolk, VA	3.0	1.0	1335	$1,750	$1.31	45d	1	1.32mi
116 Franklin St Suffolk, VA	3.0	1.0	1335	$1,750	$1.31	25d	1	1.32mi
181 N Main St Suffolk, VA	2.0	1.0–2.0	804	$1,885	$2.34	3d	15	1.39mi

Listing history 6 events

1. 2026-06-18
   status $245,000 Under Contract 4 DOM
2. 2026-06-17
   days on market $245,000 Active 4 DOM
3. 2026-06-16
   days on market $245,000 Active 3 DOM
4. 2026-06-15
   days on market $245,000 Active 2 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $245,000 Active 1 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: $1,889 · $157/mo
• Projected year-2 tax: $2,009 · $167/mo
• Expected delta: +$120/yr (+$10/mo · 6.4%)

ⓘ 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 8/10 Severe 7 d/yr ≥107°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: $22,459
• − Mortgage interest: −$13,724
• − Property taxes: −$1,889
• − Insurance: −$1,225
• − Repairs & maintenance: −$1,797
• − Management: −$1,797
• − Depreciation: −$7,127
• Taxable loss: −$5,099
• Est. tax savings @ 24.0%: +$1,224
• After-tax cash flow: $435/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

+107.6% since first listed

13 events — show timeline

• 2026-06-13 Listed $245,000 REINMLS
• 2026-01-09 Listing Removed — REINMLS
• 2025-09-02 Listed $184,000 REINMLS
• 2018-06-18 Listing Removed — REINMLS
• 2018-04-23 Price Changed $99,900 REINMLS
• 2018-04-13 Price Changed $104,900 REINMLS
• 2018-04-06 Price Changed $109,900 REINMLS
• 2018-04-03 Price Changed $115,000 REINMLS
• 2018-03-28 Listing Removed — REINMLS
• 2018-03-28 Listed $120,000 REINMLS
• 2018-02-19 Price Changed $99,000 REINMLS
• 2018-02-09 Price Changed $109,900 REINMLS
• 2018-01-23 Listed $118,000 REINMLS

Property tax history

+5.1%/yr

Latest (2025): $1,889 · +11.3% YoY. Source: county tax records.