Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group
HarrisonburgInvestmentProperties.com
 A service of Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group 540.578.0102 | scott@HarrisonburgHousingToday.com 

College Rentals Multi Family Properties Newer Townhouses Upscale Townhouses Slightly Older Townhouses Foreclosures Bank Owned Properties
HUNTERS RIDGE
1360 Hunters Rd, Harrisonburg, VA 22801     $85,000
MLS# 595983    For Sale
Subdivision: Hunters Ridge
Area: Harrisonburg
Heating: Heat Pump
Cooling: Central AC
Circa: 1987 (33 years old)
Lot Size: 0.00 acres
Association Fee:   $225
Days on Market:   147 (since Sep 25, 2019)
Listing By: Rocktown Realty
2 beds + 2 baths + washer and dryer in unit. Great investment opportunity! These condos are located right by JMU. Two large bedrooms each with private full bathroom. Potential rent $450/room/month with no utilities included. Ideal off campus housing, walking distance to campus. leased until 5/28/2020 $330/month/room Why rent when you can own and collect money from your roommate ??!!!
Elementary School:  Stone Spring Middle School:  Thomas Harrison 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     

Learn About Investing   Investment Analysis Tools
Have Questions?  Contact Scott P. Rogers at 540-578-0102 or scott@HarrisonburgHousingToday.com.