246 Pinner St · Suffolk, VA 23434

$129,900

4 bd · 2.0 ba · 1,612 sqft · Other public records · 83 Days on market

Built 1940

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Excellent investment opportunity for a fix-and-flip or long-term rental! This charming over/under duplex in Old Town Suffolk offers two units, each with 2 bedrooms and 1 full bath, plus a common entryway. The upper unit features exterior stair access. A spacious semi wrap-around front porch adds character and curb appeal. Tons of potential—don’t miss this one! Property sold "As Is, where-Is. Listing Broker & Seller assumes no responsibility and make no guarantees, warranties (expressed or implied) or representations as to the availability or accuracy of information contained herein.

Key facts

• Long-term rental
• Over/under duplex
• Curb appeal

Tags

• LONG-TERM RENTAL
• OVER/UNDER DUPLEX
• COMMON ENTRYWAY
• EXTERIOR STAIR ACCESS
• SEMI WRAP-AROUND FRONT PORCH
• CURB APPEAL

Property features AI

Exterior

• Parking: Driveway parking for both units
• Utilities: Separate meters for all utilities; City/County sewer; City/County water; Electric water heater
• Home design: Duplex property; Over/Under style; Crawl space foundation; Simple ownership
• Construction: Vinyl exterior siding; Asphalt shingle roof; Crawl space foundation
• Exterior features: Vinyl siding; Wood fence enclosing the back yard (full fence); Asphalt shingle roof; Driveway parking for each unit; Over/Under duplex layout

Interior

• Kitchen: Unit 1: kitchen; Unit 2: kitchen
• Bedrooms: Unit 1: 2 bedrooms (includes 1st floor master); Unit 2: 2 bedrooms
• Bathrooms: Unit 1: 1 bathroom; Unit 2: 1 bathroom
• Interior features: Fixer-upper condition
• Laundry & utility: Utility room in Unit 1

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $130k.

Deal economics

• At list price, monthly cash flow is $832 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.0% 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: 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.
• Market conditions: Rents rising fast (+5.8%/yr); 536 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $898 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $130k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $122,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.65% ✓
• Cap rate: 13.98%
• Cash-on-cash: 27.44%
• DSCR: 2.22
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.84% rent growth · sell at horizon

5-year hold

• IRR: 24.6%
• Equity multiple: 2.05×
• Total profit: $38,215
• Equity at exit: $19,369

10-year hold

• IRR: 34.1%
• Equity multiple: 4.54×
• Total profit: $128,870
• Equity at exit: $11,231

Cash invested: $36,372 (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: 5.1×

Monthly cashflow live

• Estimated rent: $2,140 high
• Mortgage (P&I): −$681
• Tax from tax record: −$124 /mo · $1,484/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $832

Break-even live

Break-even rent $1,087

Max offer price $129,900

Occupancy floor 56%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 Franklin St Suffolk, VA	3.0	1.0	1335	$1,750	$1.31	23d	1	0.29mi
116 Franklin St Unit 3 Suffolk, VA	3.0	1.0	1335	$1,750	$1.31	43d	1	0.29mi
315 Highland Ave Suffolk, VA	3.0	2.0	1580	$2,050	$1.30	23d	1	0.40mi
124 Halifax St Suffolk, VA	4.0	2.0	1728	$2,100	$1.22	43d	1	0.54mi
307 N 4th St Suffolk, VA	4.0	2.0	1600	$1,800	$1.12	7d	1	0.57mi
223 N 7th St Suffolk, VA	3.0	2.5	1495	$2,300	$1.54	43d	1	0.75mi
621 Butler Ave Suffolk, VA	3.0	2.5	1760	$2,500	$1.42	23d	1	1.01mi
808 Gittings St Suffolk, VA	4.0	2.5	2187	$2,500	$1.14	23d	1	1.06mi
525 Kilby Ave Suffolk, VA	3.0	2.5	1776	$2,500	$1.41	23d	1	1.18mi
310 Greenfield Cres Suffolk, VA	3.0	2.0	1146	$1,995	$1.74	43d	1	1.26mi
1341 Devonshire Ct Suffolk, VA	3.0	2.0	1795	$2,295	$1.28	14d	1	1.40mi
1341 Devonshire Ct Suffolk, VA	3.0	2.0	1800	$2,295	$1.27	4d	1	1.40mi

Listing history 24 events

1. 2026-04-22
   status Under Contract
2. 2026-03-25
   price $129,900
3. 2026-01-29
   listed $149,900 Active
4. 2024-11-17
   historical
5. 2024-10-03
   price $148,999
6. 2024-09-09
   price $155,999
7. 2024-06-21
   price $159,999
8. 2024-06-13
   price $165,555
9. 2024-06-12
   status Active
10. 2024-05-28
    historical
11. 2024-05-18
    listed $169,999 Active
12. 2023-01-20
    historical
13. 2022-11-03
    price $187,000
14. 2022-11-03
    status Active
15. 2022-10-25
    historical Active Under Contract
16. 2022-10-17
    listed $190,000 Active
17. 2022-06-09
    soldstatus $65,000
18. 2022-06-01
    status Under Contract
19. 2022-05-25
    price $75,000
20. 2022-05-24
    status Active
21. 2022-04-26
    status Under Contract
22. 2022-04-21
    listed $99,900 Active
23. 2013-03-01
    soldstatus $30,000
24. 2010-03-08
    soldstatus $60,000

ⓘ 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: $1,484 · $124/mo
• Projected year-2 tax: $1,484 · $124/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 3/10 Moderate
• 🌡 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: $25,681
• − Mortgage interest: −$7,276
• − Property taxes: −$1,484
• − Insurance: −$650
• − Repairs & maintenance: −$2,054
• − Management: −$2,054
• − Depreciation: −$3,779
• Taxable income: $8,383
• Est. tax owed @ 24.0%: −$2,012
• After-tax cash flow: $7,968/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

+116.5% since first listed

24 events — show timeline

• 2026-04-22 Pending — REINMLS
• 2026-03-25 Price Changed $129,900 REINMLS
• 2026-01-29 Listed $149,900 REINMLS
• 2024-11-17 Listing Removed — REINMLS
• 2024-10-03 Price Changed $148,999 REINMLS
• 2024-09-09 Price Changed $155,999 REINMLS
• 2024-06-21 Price Changed $159,999 REINMLS
• 2024-06-13 Price Changed $165,555 REINMLS
• 2024-06-12 Relisted — REINMLS
• 2024-05-28 Listing Removed — REINMLS
• 2024-05-18 Listed $169,999 REINMLS
• 2023-01-20 Listing Removed — REINMLS
• 2022-11-03 Price Changed $187,000 REINMLS
• 2022-11-03 Relisted — REINMLS
• 2022-10-25 Contingent — REINMLS
• 2022-10-17 Listed $190,000 REINMLS
• 2022-06-09 Sold (Public Records) $65,000 Public Records
• 2022-06-01 Pending — REINMLS
• 2022-05-25 Price Changed $75,000 REINMLS
• 2022-05-24 Relisted — REINMLS
• 2022-04-26 Pending — REINMLS
• 2022-04-21 Listed $99,900 REINMLS
• 2013-03-01 Sold (Public Records) $30,000 Public Records
• 2010-03-08 Sold (Public Records) $60,000 Public Records

Property tax history

+9.2%/yr

Latest (2025): $1,484 · +3.2% YoY. Source: county tax records.