Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group
 A service of Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group 540.578.0102 | 

College Rentals Multi Family Properties Newer Townhouses Upscale Townhouses Slightly Older Townhouses Foreclosures Bank Owned Properties
2384 King Arthurs Ct, Harrisonburg, VA 22801     $179,000
MLS# 574775    For Sale
Subdivision: Avalon Woods
Area: Harrisonburg
Garage: 1-Car Garage
Heating: Heat Pump
Cooling: Central AC, Heat Pump
Circa: 2004 (14 years old)
Lot Size: 0.05 acres
Association Fee:   $50
Days on Market:   162 (since Apr 12, 2018)
Listing By: Funkhouser Real Estate Group
Great opportunity to purchase a townhouse close to Sentara RMH, JMU and convenient to plenty of dining and shopping. This Avalon Woods home has 3 bedroom, 2.5 baths with a garage and over 1200 SF of finished living area. The over 600 SF of unfinished basement could easily be finished to add an extra bedroom, rec or family room. This would make a great first time home or rental property.
Elementary School:  Stone Spring Middle School:  Skyline High School:  Harrisonburg
Sample Avalon Woods Investment Analysis....
Property Details
Purchase Price $154,000 based on median sales price
Income (Annual)
Monthly Rental Rate $1,000 estimate based on currently available rental data   
Projected Vacancy 4% half a month per year
Gross Operating Income    $11,520     
Expense (Annual)
Real Estate Taxes $1,309 estimate based on median sales price
Repairs $500 estimate based on typical property condition
Association Dues $600 estimated to be $50 per month
Property Management $0 assuming self management
Insurance $554 estimate based on recent trends
Utilities $0 assumes tenant pays all utilities
Advertising $100 estimate
Total Operating Expenses    $3,063  
Cash Flow Before Tax
Gross Operating Income $11,520  
 - Operating Expenses  - $3,063  
Net Operating Income $8,457     
 - Annual Debt Service  - $8,340 financing 80% of the purchase price at 5.5%
Cash Flow Before Taxes    $117     

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