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    Under Contract
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:   58 (since Feb 20, 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. VACANT AND EASY TO SHOW. Add you touch and TLC for an excellent cash-flow for your investment. (Each bedroom potentially leases at $325/month) 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 $80,000 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 $680 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 $288 estimate based on recent trends
Utilities $0 assumes tenant pays all utilities
Advertising $100 estimate
Total Operating Expenses    $4,843  
Cash Flow Before Tax
Gross Operating Income $8,928  
 - Operating Expenses  - $4,843  
Net Operating Income $4,085     
 - Annual Debt Service  - $4,332 financing 80% of the purchase price at 5.5%
Cash Flow Before Taxes    $-247     

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