Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group
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HUNTERS RIDGE
1346 Hunters Rd, Harrisonburg, VA 22801     $85,000
MLS# 582848    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 four-bedroom two bath condo located in the heart of Hunters Ridge. Currently being lived in by the owner. 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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Have Questions?  Contact Scott P. Rogers at 540-578-0102 or scott@HarrisonburgHousingToday.com.