Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group
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HUNTERS RIDGE
1340 Hunters Rd, Harrisonburg, VA 22801     $79,900
MLS# 574658    Under Contract
Subdivision: Hunters Ridge
Area: Harrisonburg
Heating: Heat Pump
Cooling: Central AC
Circa: 1987 (31 years old)
Lot Size: 0.00 acres
Association Fee:   $250
Days on Market:   5 (since Apr 16, 2018)
Listing By: Funkhouser Real Estate Group
Don't miss this excellent investment opportunity. Close proximity to JMU, restaurants, and shopping including the new Starbucks near completion. Many updates have been made to this unit, the siding, and the deck has been completed. The kitchen has a new range, dishwasher, and refrigerator. Both baths have been renovated. There is a new clothes washer and dryer that convey. Most furniture conveys with the sale. Tenant's have not paid market rent for property due to the relationship with the owner. Their lease expires June 1st and settlement must occur on or after June 1st. Cash flow analysis can be provided.
Elementary School:  Stone Spring Middle School:  Thomas Harrison High School:  Harrisonburg
Sample Hunters Ridge Investment Analysis....
Property Details
Purchase Price $0 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 $0 estimate based on median sales price
Repairs $775 estimate based on typical property condition
Association Dues $3,300 estimated to be $275 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    $4,175  
 
Cash Flow Before Tax
Gross Operating Income $8,928  
 - Operating Expenses  - $4,175  
Net Operating Income $4,753     
 - Annual Debt Service  - $0 financing 80% of the purchase price at 5.4%
Cash Flow Before Taxes    $4,753     

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