Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group
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HUNTERS RIDGE
1384 Hunters Rd, Harrisonburg, VA 22801     $89,900
MLS# 582216    Under Contract
Subdivision: Hunters Ridge
Area: Harrisonburg
Heating: Heat Pump
Cooling: Central AC
Circa: 1986 (33 years old)
Lot Size: 0.00 acres
Association Fee:   $250
Days on Market:   209 (since Oct 23, 2018)
Listing By: Rocktown Realty LLC
This 2 bed, 2 bath first-floor condo features an updated kitchen and large bedrooms. All furniture and appliances convey. Great investment opportunity located near JMU! It is currently rented at $900 through June 2020 with no utilities provided by owner.
Elementary School:  Stone Spring Middle School:  Skyline High School:  Harrisonburg
Sample Hunters Ridge Investment Analysis....
Property Details
Purchase Price $80,000 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 $680 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 $288 estimate based on recent trends
Utilities $0 assumes tenant pays all utilities
Advertising $100 estimate
Total Operating Expenses    $4,843  
 
Cash Flow Before Tax
Gross Operating Income $8,928  
 - Operating Expenses  - $4,843  
Net Operating Income $4,085     
 - Annual Debt Service  - $4,332 financing 80% of the purchase price at 5.5%
Cash Flow Before Taxes    $-247     

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