Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group
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MULTI FAMILY PROPERTIES
1651 Burkwood Ct, Harrisonburg, VA 22802     $549,900
MLS# 629589    For Sale
Subdivision: Harmony Heights
Area: Harrisonburg
Circa: 1989 (33 years old)
Lot Size: 0.33 acres
Days on Market:   20 (since Apr 27, 2022)
Listing By: Old Dominion Realty Inc
Check out this great investment opportunity with ideal location to EMU, shopping, and much more. Well maintained brick quad with each apartment having 2 bedrooms and 1 full bath and currently rented with $3,300 monthly income that will be increasing to $3,500 in July. Tenant pays all utility costs. Don't miss out on this opportunity!
 
Sample Harmony Heights Investment Analysis....
Property Details
Purchase Price $207,000 based on median sales price
 
Income (Annual)
Monthly Rental Rate $1,150 estimate based on currently available rental data   
Projected Vacancy 4% half a month per year
Gross Operating Income    $13,248     
 
Expense (Annual)
Real Estate Taxes $1,863 estimate based on median sales price
Repairs $575 estimate based on typical property condition
Association Dues $540 estimated to be $45 per month
Property Management $0 assuming self management
Insurance $745 estimate based on recent trends
Utilities $0 assumes tenant pays all utilities
Advertising $100 estimate
Total Operating Expenses    $3,823  
 
Cash Flow Before Tax
Gross Operating Income $13,248  
 - Operating Expenses  - $3,823  
Net Operating Income $9,425     
 - Annual Debt Service  - $9,744 financing 80% of the purchase price at 4.25%
Cash Flow Before Taxes    $-319     

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