Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group
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HUNTERS RIDGE
1372 Hunters Rd, Harrisonburg, VA 22801     $77,500
MLS# 573119    For Sale
Subdivision: Hunters Ridge
Area: Harrisonburg
Heating: Electric, Heat Pump
Cooling: Central AC
Circa: 1985 (33 years old)
Lot Size: 0.00 acres
Association Fee:   $250
Days on Market:   193 (since Mar 12, 2018)
Listing By: Rocktown Realty LLC
Great investment opportunity! These condos are located right by JMU and priced to sell! All furniture and appliances convey. Brand new decks have been installed, new white trim has been added on the exterior and many more improvements. This condo is currently rented through summer 2019 at $850.00 per month with only trash removal included.
Elementary School:  Stone Spring Middle School:  Thomas Harrison High School:  Harrisonburg
Sample Hunters Ridge Investment Analysis....
Property Details
Purchase Price $72,250 based on median sales price
 
Income (Annual)
Monthly Rental Rate $775 estimate based on currently available rental data   
Projected Vacancy 4% half a month per year
Gross Operating Income    $8,928     
 
Expense (Annual)
Real Estate Taxes $614 estimate based on median sales price
Repairs $775 estimate based on typical property condition
Association Dues $3,000 estimated to be $250 per month
Property Management $0 assuming self management
Insurance $260 estimate based on recent trends
Utilities $0 assumes tenant pays all utilities
Advertising $100 estimate
Total Operating Expenses    $4,749  
 
Cash Flow Before Tax
Gross Operating Income $8,928  
 - Operating Expenses  - $4,749  
Net Operating Income $4,179     
 - Annual Debt Service  - $3,912 financing 80% of the purchase price at 5.5%
Cash Flow Before Taxes    $267     

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Have Questions?  Contact Scott P. Rogers at 540-578-0102 or scott@HarrisonburgHousingToday.com.