Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group
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CAMPUS VIEW CONDOS
515 Davis Mill Dr, Harrisonburg, VA 22801     $169,900
MLS# 573508    For Sale
Subdivision: Campus View Condos
Area: Harrisonburg
Heating: Central Heat, Heat Pump
Cooling: Central AC, Heat Pump
Circa: 2008 (10 years old)
Lot Size: 0.00 acres
Association Fee:   $160
Days on Market:   32 (since Mar 20, 2018)
Listing By: Rocktown Realty LLC
This 4 Bedroom 4 bath condo is A GREAT investment for parents/students of JMU with great cash flow potential! All four bedrooms with private bathroom and a large walk in closet. Each Condo has an open concept living area and a private balcony/patio. Currently 3 beds leased through July 31, 2018 at $400/bedroom. Condo comes furnished and all furnishings will convey. All utilities are being paid by tenants. Campus View is located right by JMU off of Reservoir Street. Campus View comes with a Hammock area, Pool, Grill and patio area, 24/7 gym, volleyball court.
Elementary School:  Stone Spring Middle School:  Skyline High School:  Harrisonburg
Sample Campus View Investment Analysis....
Property Details
Purchase Price $0 based on median sales price
 
Income (Annual)
Monthly Rental Rate $1,800 estimate based on currently available rental data   
Projected Vacancy 4% half a month per year
Gross Operating Income    $20,736     
 
Expense (Annual)
Real Estate Taxes $0 estimate based on median sales price
Repairs $1,800 estimate based on typical property condition
Association Dues $2,352 estimated to be $196 per month
Property Management $0 assuming self management
Insurance $0 estimate based on recent trends
Utilities $0 assumes tenant pays all utilities
Advertising $100 estimate
Total Operating Expenses    $4,252  
 
Cash Flow Before Tax
Gross Operating Income $20,736  
 - Operating Expenses  - $4,252  
Net Operating Income $16,484     
 - Annual Debt Service  - $0 financing 80% of the purchase price at 5.4%
Cash Flow Before Taxes    $16,484     

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