Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group
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HUNTERS RIDGE
1330 Hunters Rd, Harrisonburg, VA 22801     $95,000
MLS# 580958    For Sale
Subdivision: Hunters Ridge
Area: Harrisonburg
Heating: Heat Pump
Cooling: Heat Pump
Circa: 1988 (30 years old)
Lot Size: 0.00 acres
Association Fee:   $250
Days on Market:   79 (since Aug 30, 2018)
Listing By: Funkhouser Real Estate Group
Updated 2nd floor condo in Hunters Ridge with great mountain view and short distance to JMU and Starbucks. Great Investment property. 2 Bedrooms, 2 full bath. Updates include flooring and range in kitchen, painted throughout, carpet, furniture, lighting, new Replacement Windows and new bathroom vanity sinks. Rented for $950/month through July 2019.
Elementary School:  Stone Spring Middle School:  Skyline High School:  Harrisonburg
Sample Hunters Ridge Investment Analysis....
Property Details
Purchase Price $73,400 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 $624 estimate based on median sales price
Repairs $775 estimate based on typical property condition
Association Dues $3,000 estimated to be $250 per month
Property Management $0 assuming self management
Insurance $264 estimate based on recent trends
Utilities $0 assumes tenant pays all utilities
Advertising $100 estimate
Total Operating Expenses    $4,763  
 
Cash Flow Before Tax
Gross Operating Income $8,928  
 - Operating Expenses  - $4,763  
Net Operating Income $4,165     
 - Annual Debt Service  - $4,092 financing 80% of the purchase price at 5.75%
Cash Flow Before Taxes    $73     

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