A service of Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group 540.578.0102 | scott@HarrisonburgHousingToday.com
1396 Hunters Rd, Harrisonburg, VA 22801 • $84,900
MLS# 585757 • For Sale
| Subdivision: | Hunters Ridge |
| Area: | Harrisonburg |
| Heating: | Heat Pump |
| Cooling: | Central AC, Heat Pump |
| Circa: | 1986 (33 years old) |
| Lot Size: | 0.00 acres |
| Association Fee: | $250 |
| Days on Market: | 12 (since Feb 10, 2019) |
| Listing By: | Rocktown Realty LLC |
Remodeled two bedroom two full bath condo on the first floor. This condo has a newer upgraded wood laminate throughout the common areas, newer furniture and walls painted a soft grey. Currently rented at $900 a month through the end of June. New leases secured beginning July 13th through summer 2020 at $900 a month. No utilities included.
| 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 | |