Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group
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HUNTERS RIDGE
1396 Hunters Rd, Harrisonburg, VA 22801     $90,000
MLS# 601797    For Sale
Subdivision: Hunters Ridge
Area: Harrisonburg
Heating: Central Heat, Heat Pump
Cooling: Central AC
Circa: 1986 (34 years old)
Lot Size: 0.00 acres
Association Fee:   $225
Days on Market:   15 (since Mar 22, 2020)
Listing By: Funkhouser Real Estate Group
Welcome to one of the closest properties to James Madison University and a short distance to Starbucks, city bus stop, parks, campus and restaurants. Partially furnished 1st floor condo. Condo features 4 bedrooms and 2 full bathrooms. The rent is currently $950. Updates include brand new carpet in the living room and hall and new vinyl flooring in the kitchen, hall and 1 bathroom.
Elementary School:  Stone Spring Middle School:  Skyline High School:  Harrisonburg
Sample Hunters Ridge Investment Analysis....
Property Details
Purchase Price $82,750 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 $703 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 $298 estimate based on recent trends
Utilities $0 assumes tenant pays all utilities
Advertising $100 estimate
Total Operating Expenses    $4,876  
 
Cash Flow Before Tax
Gross Operating Income $8,928  
 - Operating Expenses  - $4,876  
Net Operating Income $4,052     
 - Annual Debt Service  - $4,488 financing 80% of the purchase price at 5.5%
Cash Flow Before Taxes    $-436     

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