Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group
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HARMONY HEIGHTS
1328 Old Windmill Cir, Harrisonburg, VA 22802     $178,900
MLS# 603905    For Sale
Subdivision: Harmony Heights
Area: Harrisonburg
Heating: Central Heat, Heat Pump
Cooling: Central AC, Heat Pump
Circa: 2001 (19 years old)
Lot Size: 0.06 acres
Association Fee:   $55
Days on Market:   16 (since May 19, 2020)
Listing By: Harman Realty Inc
This spacious well maintained townhouse in Harmony Heights is move-in ready with fresh paint! This townhouse offers a large living room with abundant natural light! The kitchen offers a large island with breakfast nook area. Upstairs features three bedrooms and two full baths. It also has nice windows to capture the view of the lake and the mountains to the West. This is an extremely convenient location that offers convenient access to Harmony Square, VMRC, EMU and downtown.
Elementary School:  Bluestone Elementary Middle School:  Thomas Harrison High School:  Harrisonburg
Sample Harmony Heights Investment Analysis....
Property Details
Purchase Price $189,000 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 $1,607 estimate based on median sales price
Repairs $500 estimate based on typical property condition
Association Dues $540 estimated to be $45 per month
Property Management $0 assuming self management
Insurance $680 estimate based on recent trends
Utilities $0 assumes tenant pays all utilities
Advertising $100 estimate
Total Operating Expenses    $3,427  
 
Cash Flow Before Tax
Gross Operating Income $11,520  
 - Operating Expenses  - $3,427  
Net Operating Income $8,093     
 - Annual Debt Service  - $10,236 financing 80% of the purchase price at 5.5%
Cash Flow Before Taxes    $-2,143     

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