Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group
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PHEASANT RUN
567 Pheasant Run Cir, Harrisonburg, VA 22801     $159,000
MLS# 580155    For Sale
Subdivision: Pheasant Run
Area: Harrisonburg
Heating: Central Heat, Heat Pump
Cooling: Central AC
Circa: 1999 (19 years old)
Lot Size: 0.08 acres
Association Fee:   $55
Days on Market:   94 (since Aug 15, 2018)
Listing By: Rocktown Realty LLC
Excellent investment. PARTIALLY FURNISHED 4 bedroom townhouse! Well managed Pheasant Run townhouse community, a popular student rental area on bus route with direct route to JMU. 4 nice size bedrooms, 2 full baths upstairs, 1/2 bath on the main level. Spacious living areas! Each bedroom rents individually. Management company on-site. Move in ready to a really nice unit. All furniture, silverware and glassware currently in the unit will convey.WHY PAY RENT WHEN YOU CAN OWN AND COLLECT RENT FROM YOUR ROOMMATES ??? THIS UNIT IS VACANT, EASY TO SHOW AND READY FOR NEW TENANTS!!!
Elementary School:  Keister Middle School:  Thomas Harrison High School:  Harrisonburg
Sample Pheasant Run Investment Analysis....
Property Details
Purchase Price $150,500 based on median sales price
 
Income (Annual)
Monthly Rental Rate $1,760 estimate based on currently available rental data   
Projected Vacancy 4% half a month per year
Gross Operating Income    $20,275     
 
Expense (Annual)
Real Estate Taxes $1,279 estimate based on median sales price
Repairs $1,760 estimate based on typical property condition
Association Dues $660 estimated to be $55 per month
Property Management $0 assuming self management
Insurance $542 estimate based on recent trends
Utilities $1,800  
Advertising $100 estimate
Total Operating Expenses    $6,141  
 
Cash Flow Before Tax
Gross Operating Income $20,275  
 - Operating Expenses  - $6,141  
Net Operating Income $14,134     
 - Annual Debt Service  - $8,376 financing 80% of the purchase price at 5.75%
Cash Flow Before Taxes    $5,758     

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