Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group
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PHEASANT RUN
482 Pheasant Run Cir, Harrisonburg, VA 22801     $159,900
MLS# 583017    For Sale
Subdivision: Pheasant Run
Area: Harrisonburg
Heating: Central Heat, Electric
Cooling: Central AC
Circa: 2000 (18 years old)
Lot Size: 0.05 acres
Association Fee:   $55
Days on Market:   17 (since Oct 31, 2018)
Listing By: Old Dominion Realty Inc
Excellent investment property within Pheasant Run. With just a short distance from JMU, students can walk, bike, or ride the bus to campus . Just steps off the back deck of this property is the community basketball court, picnic area, sand volleyball court and green space. This property is leased through July 31, 2019 and is fully furnished and has a brand new HVAC unit! Owner/Agent
Elementary School:  Keister Middle School:  Thomas Harrison High School:  Harrisonburg
Sample Pheasant Run Investment Analysis....
Property Details
Purchase Price $150,500 based on median sales price
 
Income (Annual)
Monthly Rental Rate $1,760 estimate based on currently available rental data   
Projected Vacancy 4% half a month per year
Gross Operating Income    $20,275     
 
Expense (Annual)
Real Estate Taxes $1,279 estimate based on median sales price
Repairs $1,760 estimate based on typical property condition
Association Dues $660 estimated to be $55 per month
Property Management $0 assuming self management
Insurance $542 estimate based on recent trends
Utilities $1,800  
Advertising $100 estimate
Total Operating Expenses    $6,141  
 
Cash Flow Before Tax
Gross Operating Income $20,275  
 - Operating Expenses  - $6,141  
Net Operating Income $14,134     
 - Annual Debt Service  - $8,376 financing 80% of the purchase price at 5.75%
Cash Flow Before Taxes    $5,758     

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