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
1380 Hunters Rd, Harrisonburg, VA 22801     $79,900
MLS# 585511    For Sale
Subdivision: Hunters Ridge
Area: Harrisonburg
Heating: Central Heat, Heat Pump
Cooling: Central AC
Circa: 1986 (33 years old)
Lot Size: 0.00 acres
Association Fee:   $250
Days on Market:   18 (since Feb 4, 2019)
Listing By: Rocktown Realty LLC
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 under a rental contract until February 28, 2019. NEW Starbucks in the community. Also many restaurants, shopping, city bus stop, parks, and campus are near by. 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 $75,000 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 $638 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 $270 estimate based on recent trends
Utilities $0 assumes tenant pays all utilities
Advertising $100 estimate
Total Operating Expenses    $4,783  
Cash Flow Before Tax
Gross Operating Income $8,928  
 - Operating Expenses  - $4,783  
Net Operating Income $4,146     
 - Annual Debt Service  - $4,068 financing 80% of the purchase price at 5.5%
Cash Flow Before Taxes    $78     

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