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
1348 Hunters Rd, Harrisonburg, VA 22801     $85,000
MLS# 582847    For Sale
Subdivision: Hunters Ridge
Area: Harrisonburg
Heating: Heat Pump
Cooling: Heat Pump
Circa: 1980 (38 years old)
Lot Size: 0.00 acres
Association Fee:   $250
Days on Market:   22 (since Oct 26, 2018)
Listing By: Funkhouser Real Estate Group
Excellent opportunity to own one of the closest properties to James Madison University. This is a two-bedroom two bath condo located in the heart of Hunters Ridge. Currently being rented on AirBNB but can be leased long term as well. The two bedrooms are very large, and each has their own private bathroom. Just a few minutes from Starbucks, restaurants, shopping, city bus stop, parks, and campus. In addition, this community offers ample parking, a dog park, and a basketball court.
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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