Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group
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LIBERTY SQUARE
1037 Molly Pitcher Pl, Harrisonburg, VA 22802     $184,900
MLS# 601908    Under Contract
Subdivision: Liberty Square
Area: Harrisonburg
Heating: Heat Pump
Cooling: Heat Pump
Circa: 2006 (14 years old)
Lot Size: 0.08 acres
Association Fee:   $55
Days on Market:   2 (since Apr 4, 2020)
Listing By: Cottonwood Commercial LLC
This newly renovated townhouse is conveniently located just minutes from downtown Harrisonburg, James Madison University, and 81. Inside opens to a spacious living area that leads to kitchen/dining room filled with natural light. The second level includes large master bedroom with raised ceilings, personal bathroom, and walk-in closet. Due this property being an end unit, owners can enjoy an extended yard space free from surrounding neighbors as well as visitor parking spots. The backyard includes patio, storage shed, and community walking trail just steps away. Don't miss out on this incredible investment, either for rental or residence
Elementary School:  Smithland Middle School:  Skyline High School:  Harrisonburg
Sample Liberty Square Investment Analysis....
Property Details
Purchase Price $169,750 based on median sales price
 
Income (Annual)
Monthly Rental Rate $1,000 estimate based on currently available rental data   
Projected Vacancy 4% half a month per year
Gross Operating Income    $11,520     
 
Expense (Annual)
Real Estate Taxes $1,443 estimate based on median sales price
Repairs $500 estimate based on typical property condition
Association Dues $600 estimated to be $50 per month
Property Management $0 assuming self management
Insurance $611 estimate based on recent trends
Utilities $0 assumes tenant pays all utilities
Advertising $100 estimate
Total Operating Expenses    $3,254  
 
Cash Flow Before Tax
Gross Operating Income $11,520  
 - Operating Expenses  - $3,254  
Net Operating Income $8,266     
 - Annual Debt Service  - $9,192 financing 80% of the purchase price at 5.5%
Cash Flow Before Taxes    $-926     

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