Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group
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NORTHFIELD ESTATES
401 Glenfield Dr, Harrisonburg, VA 22802     $139,900
MLS# 573754    For Sale
Subdivision: Northfield Estates
Area: Harrisonburg
Heating: Central Heat, Heat Pump
Cooling: Central AC, Heat Pump
Circa: 1990 (28 years old)
Lot Size: 0.11 acres
Association Fee:   $430
Days on Market:   120 (since Mar 23, 2018)
Listing By: Kline May Realty
Very well-maintained two level duplex on a corner lot with an open floor plan and lots of updates. Updates include: New windows upstairs with custom window treatments, new hot water heater 2017, new carpet, paint and custom window treatments on lower level 2017, both bathrooms updated and a radon remediation system was installed. The back deck offers a wonderful spot to relax and enjoy the beautiful landscaping full of native species plants and shrubs. Don't miss this opportunity to own a great property that is conveniently located to downtown, shopping, and various restaurants.
Elementary School:  Smithland Middle School:  Skyline High School:  Harrisonburg
Sample Northfield Estates Investment Analysis....
Property Details
Purchase Price $141,500 based on median sales price
 
Income (Annual)
Monthly Rental Rate $800 estimate based on currently available rental data   
Projected Vacancy 4% half a month per year
Gross Operating Income    $9,216     
 
Expense (Annual)
Real Estate Taxes $1,203 estimate based on median sales price
Repairs $400 estimate based on typical property condition
Association Dues $432 estimated to be $36 per month
Property Management $0 assuming self management
Insurance $509 estimate based on recent trends
Utilities $0 assumes tenant pays all utilities
Advertising $100 estimate
Total Operating Expenses    $2,644  
 
Cash Flow Before Tax
Gross Operating Income $9,216  
 - Operating Expenses  - $2,644  
Net Operating Income $6,572     
 - Annual Debt Service  - $7,668 financing 80% of the purchase price at 5.5%
Cash Flow Before Taxes    $-1,096     

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