403 Elizabeth St · Suffolk, VA 23434

$164,500

3 bd · 1.0 ba · 798 sqft · SingleFamily public records · 19 Days on market

Built 1950 $206/sqft · 8% below area Est $196k · 16% under

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Why this score? — see what drove the C+ 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 +22.5/30.0
• ARV discount +14.8/15.0
• DSCR +7.2/10.0
• 1% rule +5.3/10.0
• Schools +4.8/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this adorable two-bedroom, one bath bungalow with a spacious yard and an updated kitchen designed for everyday living. Luxury plank vinyl flooring throughout house. Enjoy comfortable, single-level living with plenty of outdoor space to relax, play, or host gatherings. Great for first time home buyers, investors, or those just looking to downsize. Convenient to shopping, dining, and interstates. Don't miss this one!

Key facts

• Spacious yard
• Single level living
• Updated kitchen

Tags

• SPACIOUS YARD
• UPDATED KITCHEN
• SINGLE LEVEL LIVING
• OUTDOOR SPACE

Property features AI

Finance

• HOA & community: No HOA

Exterior

• Parking: Driveway parking spaces; Street parking
• Utilities: City/County water; City/County sewer; Electric water heater
• Home design: Detached bungalow; Single-story; Crawl foundation; Simple ownership
• Construction: Asphalt shingle roof
• Exterior features: Aluminum siding; Back fenced yard; Porch

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher; Breakfast area
• Bedrooms: 1st-floor bedroom with full bathroom
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Electric heating; Window/wall air conditioning
• Interior features: Pull-down attic stairs; Attic
• Laundry & utility: Washer hookup; Dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $164k.

Deal economics

• At list price, monthly cash flow is $277 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $164k).
• Recommended offer: $162k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% 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: Mack Benn Jr. Elementary (math 27% / reading 50%, grade F, #924 of 1,108 statewide, top 84%, 684 students, 66% 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.
• Market conditions: Rents rising fast (+5.8%/yr); 536 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $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.
• At projected returns (-3.0% appreciation + 5.8% rent growth), your $46k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 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.
• Current owner paid $140k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $162,032 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.03% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.22%
• DSCR: 1.32
• GRM: 8.1

CMA / ARV

• ARV (median comp): $196,300
• List price: $164,500
• Delta: -16.20%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
403 Elizabeth St	0.00mi	2/1.0 (-1)	872 (+9%)	1mo	$130,000	$149	79
305 Elizabeth St	0.06mi	2/1.0 (-1)	720 (-10%)	5mo	$210,000	$292	72
410 Constance Rd E	0.03mi	3/1.0	911 (+14%)	8mo	$212,500	$233	69
307 Central Ave	0.62mi	3/1.0	840 (+5%)	4mo	$135,000	$161	59
2129 Oregon Ave	0.70mi	2/1.0 (-1)	745 (-7%)	10mo	$189,000	$254	43
326 Goodman St	0.65mi	2/1.0 (-1)	858 (+8%)	13mo	$195,000	$227	41
309 N 5th St	0.69mi	2/1.0 (-1)	702 (-12%)	3mo	$165,000	$235	40

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: -2.3%
• Equity multiple: 0.91×
• Total profit: $-4,039
• Equity at exit: $24,527

10-year hold

• IRR: 10.2%
• Equity multiple: 1.89×
• Total profit: $40,796
• Equity at exit: $14,223

Cash invested: $46,060 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,694 high
• Mortgage (P&I): −$863
• Tax from tax record: −$130 /mo · $1,562/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $277

Break-even live

Break-even rent $1,344

Max offer price $164,500

Occupancy floor 79%

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: $41,125
• Closing costs: $4,935
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
307 Central Ave Suffolk, VA	3.0	1.0	840	$1,700	$2.02	43d	1	0.64mi
214 N 7th St Unit NA Suffolk, VA	2.0	1.0	760	$1,500	$1.97	23d	1	0.89mi
181 N Main St Suffolk, VA	2.0	1.0–2.0	804	$1,885	$2.34	1d	15	0.93mi
326 E Washington St Suffolk, VA	2.0	2.0	839	$1,629	$1.94	3d	1	0.95mi
120 S 10th St Suffolk, VA	2.0	1.0	736	$1,250	$1.70	43d	1	1.05mi
558 1st Ave Suffolk, VA	2.0	1.5	1000	$1,250	$1.25	43d	1	1.28mi
564 1st Ave Suffolk, VA	2.0	1.0	1000	$1,100	$1.10	43d	1	1.29mi
1000 Meridian Obici Way Suffolk, VA	1.0–2.0	1.0–2.0	889	$2,024	$2.28	1d	10	1.31mi
1410 Blythewood Ln Suffolk, VA	4.0	1.5	1056	$1,800	$1.70	43d	1	1.39mi
308 Saint James Ave Unit B Suffolk, VA	2.0	1.0	936	$1,295	$1.38	23d	1	1.46mi

Listing history 15 events

1. 2026-05-13
   status Under Contract 434-char remark
2. 2026-05-06
   historical Active Under Contract 434-char remark
3. 2026-04-24
   listed $164,500 Active 434-char remark
4. 2026-04-23
   historical
5. 2026-04-17
   status Active
6. 2026-04-06
   historical Active Under Contract
7. 2026-03-18
   price $179,000
8. 2026-02-04
   listed $184,900 Active
9. 2018-08-23
   soldstatus $112,000
10. 2018-07-18
    status Under Contract
11. 2018-05-29
    price $115,900
12. 2018-04-24
    price $118,900
13. 2018-02-22
    listed $119,900 Active
14. 2008-05-30
    soldstatus $128,900
15. 2003-10-17
    soldstatus $61,500

ⓘ 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: $1,562 · $130/mo
• Projected year-2 tax: $1,562 · $130/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 ≥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: $20,334
• − Mortgage interest: −$9,215
• − Property taxes: −$1,562
• − Insurance: −$822
• − Repairs & maintenance: −$1,627
• − Management: −$1,627
• − Depreciation: −$4,785
• Taxable income: $696
• Est. tax owed @ 24.0%: −$167
• After-tax cash flow: $3,160/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

+127.6% since first listed

17 events — show timeline

• 2026-05-26 Sold (Public Records) $140,000 Public Records
• 2026-05-22 Sold (MLS) $130,000 REINMLS
• 2026-05-13 Pending — REINMLS
• 2026-05-06 Contingent — REINMLS
• 2026-04-24 Listed $164,500 REINMLS
• 2026-04-23 Listing Removed — REINMLS
• 2026-04-17 Relisted — REINMLS
• 2026-04-06 Contingent — REINMLS
• 2026-03-18 Price Changed $179,000 REINMLS
• 2026-02-04 Listed $184,900 REINMLS
• 2018-08-23 Sold (Public Records) $112,000 Public Records
• 2018-07-18 Pending — REINMLS
• 2018-05-29 Price Changed $115,900 REINMLS
• 2018-04-24 Price Changed $118,900 REINMLS
• 2018-02-22 Listed $119,900 REINMLS
• 2008-05-30 Sold (Public Records) $128,900 Public Records
• 2003-10-17 Sold (Public Records) $61,500 Public Records

Property tax history

+4.4%/yr

Latest (2025): $1,562 · +8.9% YoY. Source: county tax records.