413 Hunter St · Suffolk, VA 23434

$230,000

3 bd · 1.5 ba · 1,056 sqft · SingleFamily public records · 41 Days on market

Built 2006 $218/sqft · 8% below area Est $249k · 8% 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).

• ARV discount +11.0/15.0
• Cash flow +10.4/30.0
• Schools +4.8/10.0
• Rent growth +4.0/5.0
• Livability +3.9/5.0
• DSCR +3.0/10.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home! This well-maintained 3-bedroom, 1.5-bath property offers 1,056 square feet of comfortable living space with thoughtful updates throughout. You’ll appreciate the peace of mind that comes with a recently replaced HVAC system (2024), keeping you comfortable year-round.Inside, the home features a functional layout with inviting living spaces and updated touches that make it move-in ready. Whether you're relaxing at home or entertaining guests, this property offers just the right balance of comfort and practicality.Step outside to enjoy the spacious backyard—perfect for gatherings, pets, gardening, or simply unwinding after a long day. With plenty of room to make it your own, the outdoor space is a true highlight.A great opportunity for homeowners or investors alike—don’t miss your chance to make this one yours!

Key facts

• Spacious backyard
• Built 2006
• Listed 40 days

Tags

• RECENTLY REPLACED HVAC
• SPACIOUS BACKYARD
• INVITING LIVING SPACES

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-120 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (9.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (25.4% below list).
• Recommended offer: $172k (25.4% below list) — sets the bar for 1% rule.
• Cap rate 5.7% 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: Booker T. Washington Elementary (math 27% / reading 47%, grade F, #933 of 1,108 statewide, top 86%, 355 students, 64% FRL); King'S Fork Middle (math 33% / reading 61%, grade D+, #257 of 342 statewide, top 77%, 1,031 students, 63% FRL); Lakeland High (math 33% / reading 77%, grade C, #279 of 319 statewide, top 88%, 1,083 students, 64% 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); 546 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 $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

• It's been on market 41 days — a 3% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $10k; list at $230k implies a 2200% gain — meaningful room to come down on a strong offer.

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 $171,505 (25.4% 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 41 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
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: 0.75% ✗
• Cap rate: 5.67%
• Cash-on-cash: -2.24%
• DSCR: 0.90
• GRM: 11.2

CMA / ARV

• ARV (median comp): $249,212
• List price: $230,000
• Delta: -7.71%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
318 Hunter St	0.11mi	3/2.0	1,125 (+6%)	1mo	$175,000	$156	81
320 Baker St	0.11mi	3/1.0	1,090 (+3%)	8mo	$84,500	$78	81
604 County St	0.11mi	3/2.0	966 (-8%)	5mo	$210,000	$217	74
116 Woodrow Ave	0.36mi	3/2.0	1,100 (+4%)	2mo	$257,000	$234	72
627 Spruce St	0.18mi	3/2.5	1,150 (+9%)	3mo	$278,500	$242	70
307 Baker St	0.17mi	3/2.0	1,200 (+14%)	2mo	$274,900	$229	65
625 Spruce St	0.19mi	3/2.5	1,200 (+14%)	4mo	$274,900	$229	61
623 Spruce St	0.19mi	3/2.5	1,200 (+14%)	4mo	$284,900	$237	61
219 Baker St	0.21mi	3/2.0	1,200 (+14%)	6mo	$225,000	$188	60
507 Cedar Ct	0.48mi	2/1.0 (-1)	1,100 (+4%)	5mo	$203,500	$185	59
328 Cedar St	0.58mi	2/1.0 (-1)	1,004 (-5%)	6mo	$221,000	$220	52
403 Spruce St	0.51mi	3/2.0	1,200 (+14%)	8mo	$255,000	$213	45

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: -17.2%
• Equity multiple: 0.38×
• Total profit: $-39,939
• Equity at exit: $34,294

10-year hold

• IRR: -4.9%
• Equity multiple: 0.64×
• Total profit: $-22,905
• Equity at exit: $19,886

Cash invested: $64,400 (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: 11.2×

Monthly cashflow live

• Estimated rent: $1,715 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$173 /mo · $2,079/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $-120

Break-even live

Break-even rent $1,867

Max offer price $208,741

Occupancy floor —

Sensitivity live

Price	-10% $10	-5% $-55	+0% $-120	+5% $-185	+10% $-251
Rent	-10% $-256	-5% $-188	+0% $-120	+5% $-53	+10% $15
Rate	-1.0pp $-5	-0.5pp $-62	base $-120	+0.5pp $-180	+1.0pp $-241

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
210 Baker St Suffolk, VA	3.0	1.0	988	$1,600	$1.62	45d	1	0.23mi
310 Greenfield Cres Suffolk, VA	3.0	2.0	1146	$1,995	$1.74	45d	1	0.42mi
114 Nancy Dr Suffolk, VA	2.0–3.0	1.0	860	$1,450	$1.69	3d	4	0.53mi
326 E Washington St Suffolk, VA	2.0	2.0	839	$1,629	$1.94	5d	1	0.91mi
116 Franklin St Suffolk, VA	3.0	1.0	1335	$1,750	$1.31	25d	1	0.98mi
116 Franklin St Unit 3 Suffolk, VA	3.0	1.0	1335	$1,750	$1.31	45d	1	0.98mi
308 Saint James Ave Unit B Suffolk, VA	2.0	1.0	936	$1,295	$1.38	25d	1	1.04mi
181 N Main St Suffolk, VA	2.0	1.0–2.0	804	$1,885	$2.34	3d	15	1.10mi
410 Bosley Ave Unit B Suffolk, VA	2.0	1.0	850	$1,095	$1.29	12d	1	1.14mi
307 Central Ave Suffolk, VA	3.0	1.0	840	$1,700	$2.02	45d	1	1.24mi
214 N 7th St Unit NA Suffolk, VA	2.0	1.0	760	$1,500	$1.97	25d	1	1.32mi
223 N 7th St Suffolk, VA	3.0	2.5	1495	$2,300	$1.54	45d	1	1.32mi
558 1st Ave Suffolk, VA	2.0	1.5	1000	$1,250	$1.25	45d	1	1.41mi
120 S 10th St Suffolk, VA	2.0	1.0	736	$1,250	$1.70	45d	1	1.41mi
564 1st Ave Suffolk, VA	2.0	1.0	1000	$1,100	$1.10	45d	1	1.41mi
806 W Washington St Unit 112 Suffolk, VA	2.0	2.0	900	$1,325	$1.47	19d	1	1.47mi

Listing history 5 events

1. 2026-04-16
   listed $230,000 Active 856-char remark

   Show marketing remark (856 chars)

   Welcome home! This well-maintained 3-bedroom, 1.5-bath property offers 1,056 square feet of comfortable living space with thoughtful updates throughout. You’ll appreciate the peace of mind that comes with a recently replaced HVAC system (2024), keeping you comfortable year-round.Inside, the home features a functional layout with inviting living spaces and updated touches that make it move-in ready. Whether you're relaxing at home or entertaining guests, this property offers just the right balance of comfort and practicality.Step outside to enjoy the spacious backyard—perfect for gatherings, pets, gardening, or simply unwinding after a long day. With plenty of room to make it your own, the outdoor space is a true highlight.A great opportunity for homeowners or investors alike—don’t miss your chance to make this one yours!

2. 2025-10-24
   historical
3. 2025-06-02
   price $222,000
4. 2025-04-24
   listed $232,000 Active
5. 2002-11-19
   soldstatus $10,000

ⓘ 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: $2,079 · $173/mo
• Projected year-2 tax: $2,079 · $173/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: $20,581
• − Mortgage interest: −$12,884
• − Property taxes: −$2,079
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,646
• − Management: −$1,646
• − Depreciation: −$6,691
• Taxable loss: −$5,516
• Est. tax savings @ 24.0%: +$1,324
• After-tax cash flow: $-120/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

+2200.0% since first listed

5 events — show timeline

• 2026-04-16 Listed $230,000 REINMLS
• 2025-10-24 Listing Removed — REINMLS
• 2025-06-02 Price Changed $222,000 REINMLS
• 2025-04-24 Listed $232,000 REINMLS
• 2002-11-19 Sold (Public Records) $10,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $2,079 · +3.7% YoY. Source: county tax records.