Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group
 A service of Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group 540.578.0102 | 

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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:   69 (since Feb 9, 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 $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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