A service of Scott P. Rogers, Associate Broker, Funkhouser Real Estate Group 540.578.0102 | scott@HarrisonburgHousingToday.com
1340 Hunters Rd, Harrisonburg, VA 22801 • $199,000
MLS# 668778 • For Sale
| Subdivision: | Hunters Ridge |
| Area: | Harrisonburg |
| Heating: | Heat Pump |
| Cooling: | Heat Pump |
| Circa: | 1987 (38 years old) |
| Lot Size: | 0.00 acres |
| Association Fee: | $200 |
| Days on Market: | 7 (since Sep 6, 2025) |
| Listing By: | Old Dominion Realty Inc |
Prime location and excellent investment opportunity! This 2-bedroom, 2-bath condo is within walking distance to James Madison University and close to all that Harrisonburg has to offer. This layout features a bright living area with sliding doors to a patio and a functional kitchen with wood cabinets and plenty of counter space. Each bedroom includes its own private bath, making the floor plan ideal for roommates, students, or guests. The community offers abundant parking and unbeatable convenience with restaurants, shopping, and a new Starbucks just across the street. Currently leased for $1,750 per month, this property provides immediate rental income and strong investment potential. Whether you’re seeking an affordable first home, student housing, or an addition to your portfolio, this condo checks every box. Fully rented through 8/2026.
| Elementary School: Stone Spring | Middle School: Skyline | High School: Harrisonburg |
Sample Hunters Ridge Investment Analysis....
| Property Details | ||
| Purchase Price | $202,500 | based on median sales price |
| Income (Annual) | ||
| Monthly Rental Rate | $900 | estimate based on currently available rental data |
| Projected Vacancy | 4% | half a month per year |
| Gross Operating Income | $10,368 | |
| Expense (Annual) | ||
| Real Estate Taxes | $1,823 | estimate based on median sales price |
| Repairs | $900 | estimate based on typical property condition |
| Association Dues | $3,000 | estimated to be $250 per month |
| Property Management | $0 | assuming self management |
| Insurance | $729 | estimate based on recent trends |
| Utilities | $0 | assumes tenant pays all utilities |
| Advertising | $100 | estimate |
| Total Operating Expenses | $6,552 | |
| Cash Flow Before Tax | ||
| Gross Operating Income | $10,368 | |
| - Operating Expenses | - $6,552 | |
| Net Operating Income | $3,817 | |
| - Annual Debt Service | - $13,764 | financing 80% of the purchase price at 7.75% |
| Cash Flow Before Taxes | $-9,948 | |