Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group
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CAMPUS VIEW CONDOS
520 Davis Mill Dr, Harrisonburg, VA 22801     $199,900
MLS# 601165    For Sale
Subdivision: Campus View Condos
Area: Harrisonburg
Heating: Central Heat, Heat Pump
Cooling: Central AC, Heat Pump
Circa: 2008 (12 years old)
Lot Size: 0.00 acres
Association Fee:   $160
Days on Market:   118 (since Mar 9, 2020)
Listing By: Rocktown Realty
4 Bedroom 4 bath condo is A GREAT investment for parents/students of JMU with great cash flow!!! All four bedrooms with private bathroom and a large walk in closet. Each Condo has an open concept living area and a private balcony/patio. ALL beds leased through summer 2021 at $475/bedroom. (Including $125 electric and $50 water Caps for the full unit) Condo comes furnished and all furnishings will convey. Unit had an update last summer including laminated flooring thru out and new furniture. VIRTUAL TOUR AVAILABLE CLICK HERE ==>> https://mls.ricohtours.com/eb89f859-a2a5-446e-a2d1-3e5c78 Campus View is located right by JMU off of Reservoir Street. Campus View comes with a Hammock area, Pool, Grill and patio area, 24/7 gym, volleyball court.
Elementary School:  Stone Spring Middle School:  Skyline High School:  Harrisonburg
Sample Campus View Investment Analysis....
Property Details
Purchase Price $185,000 based on median sales price
 
Income (Annual)
Monthly Rental Rate $1,800 estimate based on currently available rental data   
Projected Vacancy 4% half a month per year
Gross Operating Income    $20,736     
 
Expense (Annual)
Real Estate Taxes $1,573 estimate based on median sales price
Repairs $1,800 estimate based on typical property condition
Association Dues $2,352 estimated to be $196 per month
Property Management $0 assuming self management
Insurance $666 estimate based on recent trends
Utilities $0 assumes tenant pays all utilities
Advertising $100 estimate
Total Operating Expenses    $6,491  
 
Cash Flow Before Tax
Gross Operating Income $20,736  
 - Operating Expenses  - $6,491  
Net Operating Income $14,246     
 - Annual Debt Service  - $10,020 financing 80% of the purchase price at 5.5%
Cash Flow Before Taxes    $4,226     

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Have Questions?  Contact Scott P. Rogers at 540-578-0102 or scott@HarrisonburgHousingToday.com.