Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group
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NORTHFIELD ESTATES
408 Glenfield Ct, Harrisonburg, VA 22802     $129,500
MLS# 578717    Under Contract
Subdivision: Northfield Estates
Area: Harrisonburg
Heating: Heat Pump
Cooling: Central AC
Circa: 1991 (27 years old)
Lot Size: 0.08 acres
Association Fee:   $34
Days on Market:   131 (since Jul 9, 2018)
Listing By: Funkhouser Real Estate Group
Great starter or investment! Located in a cul-de-sac, this duplex has 2 spacious bedrooms, 1.5 baths, nice rear deck overlooking private backyard. Affordably priced and ready for a quick occupancy!
Elementary School:  Spotswood (Harrisonburg) Middle School:  Skyline High School:  Harrisonburg
Sample Northfield Estates Investment Analysis....
Property Details
Purchase Price $139,750 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 $1,188 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 $503 estimate based on recent trends
Utilities $0 assumes tenant pays all utilities
Advertising $100 estimate
Total Operating Expenses    $2,623  
 
Cash Flow Before Tax
Gross Operating Income $9,216  
 - Operating Expenses  - $2,623  
Net Operating Income $6,593     
 - Annual Debt Service  - $7,776 financing 80% of the purchase price at 5.75%
Cash Flow Before Taxes    $-1,183     

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