A service of Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group 540.578.0102 | scott@HarrisonburgHousingToday.com
2151 Lake Terrace Dr, Harrisonburg, VA 22802 • $459,000
MLS# 655572 • Under Contract
| Subdivision: | Harmony Heights |
| Area: | Harrisonburg |
| Garage: | 1-Car Garage |
| Heating: | Heat Pump |
| Cooling: | Central AC |
| Circa: | 2006 (18 years old) |
| Lot Size: | 0.21 acres |
| Association Fee: | $225 |
| Days on Market: | 15 (since Aug 24, 2024) |
| Listing By: | Realty ONE Group Old Towne |
Perched overlooking a tranquil pond with breathtaking mountain views, this inviting duplex at 2151 Lake Terrace Drive in Harrisonburg, VA, offers a serene retreat of simple living. Boasting 3 bedrooms and 4 full bathrooms, it combines comfort with luxury. The spacious interior includes a modern kitchen, cozy living areas, and abundant storage options. A standout feature is the large partially finished basement, providing extra space for various uses. Additionally, the property includes an attached garage, ensuring convenience and easy access. Perfectly situated to enjoy both natural beauty and modern comforts, this home offers one level living with additional spaces to grow. Your outdoor features well compliment the large interior of 1940 sq ft.
| Elementary School: Bluestone | Middle School: Thomas Harrison | High School: Harrisonburg |
Sample Harmony Heights Investment Analysis....
| Property Details | ||
| Purchase Price | $263,500 | based on median sales price |
| Income (Annual) | ||
| Monthly Rental Rate | $1,300 | estimate based on currently available rental data |
| Projected Vacancy | 4% | half a month per year |
| Gross Operating Income | $14,976 | |
| Expense (Annual) | ||
| Real Estate Taxes | $2,372 | estimate based on median sales price |
| Repairs | $650 | estimate based on typical property condition |
| Association Dues | $540 | estimated to be $45 per month |
| Property Management | $0 | assuming self management |
| Insurance | $949 | estimate based on recent trends |
| Utilities | $0 | assumes tenant pays all utilities |
| Advertising | $100 | estimate |
| Total Operating Expenses | $4,610 | |
| Cash Flow Before Tax | ||
| Gross Operating Income | $14,976 | |
| - Operating Expenses | - $4,610 | |
| Net Operating Income | $10,366 | |
| - Annual Debt Service | - $17,916 | financing 80% of the purchase price at 7.75% |
| Cash Flow Before Taxes | $-7,550 | |