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     $75,000
MLS# 582847    Under Contract
Subdivision: Hunters Ridge
Area: Harrisonburg
Heating: Heat Pump
Cooling: Heat Pump
Circa: 1980 (39 years old)
Lot Size: 0.00 acres
Association Fee:   $250
Days on Market:   143 (since Nov 2, 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. 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 $78,500 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 $667 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 $283 estimate based on recent trends
Utilities $0 assumes tenant pays all utilities
Advertising $100 estimate
Total Operating Expenses    $4,825  
Cash Flow Before Tax
Gross Operating Income $8,928  
 - Operating Expenses  - $4,825  
Net Operating Income $4,103     
 - Annual Debt Service  - $4,260 financing 80% of the purchase price at 5.5%
Cash Flow Before Taxes    $-157     

Learn About Investing   Investment Analysis Tools
Have Questions?  Contact Scott P. Rogers at 540-578-0102 or